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Selling a French house part2

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Selling your French house

Selling your French house Part 2

To start our new legal series, Expatsradio speaks to Barbara Heslop of legal firm Heslop & Platt. Barbara tells us more about selling our French house in the second of this two-part feature.
For clarity she has divided the procedure into 5 stages. The first stages she explains in detail in programme one available on this site in our legal section

CONTRACT

•    Prepared by agent or notary
•    Seller must be aware of declarations to be given by seller
•    Seller must be aware of all conditions to which sale is being made subject
•    Most usual form of contract – compromis de vente  – binds both parties
•    Buyer gets a 7 day cooling off period; seller does not
•    Ensure buyer transfers deposit before expiry of cooling off period and ensure agent  / notary receives cleared funds

PRE-COMPLETION

•    Don’t view completion date as a fixed date – it is only a target date. Not cast in stone
•    Must maintain property in condition it was in when buyers first inspected
•    Cannot make any material changes unless agreed with buyers
•    Must maintain buildings insurance right through to completion
•    For non-resident sellers – if sale price exceeds 150,000 Euros – need to appoint a tax agent to handle CGT calculation and declaration; also need to obtain certificate of UK tax residency to qualify for CGT tax rate applicable to EU – non French resident sellers
•    Prepare to clear property of personal effects and furniture not included in sale
COMPLETION
•    Once notary confirms ready to fix completion meeting – sign a POA or make arrangements to attend notary’s office to sign in person
•    Provide notary with details of bank account to which net sale proceeds are to be transferred
•    Check property is ready to be handed over
•    Take final meter readings
POST COMPLETION
•    Inform utility companies of transfer of ownership
•    Inform insurance company of sale and cancel insurance cover
If you would like to speak to Barbara about legal matters for France you can contact her at: http://www.heslop-platt.co.uk/

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