Selling property in France experience

Selling property in France experience

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paulwirral

Original Poster:

1,724 posts

80 months

Tuesday 2nd August 2016
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Hi , before I ask the question I'm not looking for advice on the subject , just any examples of other people's personal experiences over the last few years . I've bought , extended , modernising , divided land , sold and built new so I know how it works .
The reason I ask is an old friend of mine has recently decided to sell up and move back to England . He does suffer depression and as such sometimes feels the whole of the French system is against him , he's 20 years older than me and sometimes when I offer advice I question if he believes me .
His house is in the 350k -400k euro bracket , typical lovely old thing with lots of rooms , large but manageable garden , large pool , large outbuilding with permission to convert , it's situated in the Dordogne , but no option other than a car for transport . It's not isolated having neighbours in the small hamlet and only being 15 mins drive to sarlat .
If anyone has recently sold , or offered for sale their French property would it be possible to post your honest personal experience so I can let him read them . It may sway him to maybe adjust his sales strategy and enable a swifter return to England . He was only going to offer it on rightmove until I convinced him to take a French agent on board , the way I look at the house it's in line with other similar properties price wise and probably better than a lot of them but I see it sold to French buyers re locating for work reasons .
All comments welcome , but like I said at the start , I'm not looking for advice , just reasonable honest real life experience .
Thanks in advance
Paul

Vintage Racer

303 posts

90 months

Tuesday 2nd August 2016
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Hi Paul,

I sold my house in the Dordogne (similar price bracket) last October...........and it took 3 years.

Nothing unusual in that, as virtually every house in France is unique and requires just one buyer!

However, I would put it with multiple agents (who are generally all useless and re-active as opposed to pro-active) as many will have deals with other search engines.

He should also place an independent advert on 'Green-Acres', which is a very good site and will cost around 85.00 euros for the year.

The market in France (along with the rest of mainland Europe) is still very depressed and likely to be even slower with current exchange rates.

As his house will almost certainly be 'unique', he needs to really concentrate on its 'USP's' and market the property specifically at the right target audience.

I am still here in the Dordogne having 'down-sized' and after 12 years, still loving every minute of it!

Bonne Chance Mon Ami




smifffymoto

2,794 posts

150 months

Tuesday 2nd August 2016
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My father in law is between compromis and act finale.He took a hit on the price and had to jump through hoops.Wifes Aunt has had plenty of visits but no offers and most viewers have to sell a home first. Both properties are fairly new,older of the two built in 1980. Both houses are listed with all the agents locally but only one is proactive,needless to say it is him that got FIL a buyer and has done the most viewings.

If priced right it will sell,there are still to many sellers overpricing trying to recoup what they have put in to a property.
The agent says buyers are more demanding than ever with sometimes unrealistic expectations.I suppose it all comes down to how much you want a sale.

rdjohn

3,636 posts

140 months

Tuesday 2nd August 2016
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Not sure just how relevant this is, but I had an agent round last week for professional advice on a dispute with my builder.

He was saying that here near Saumur 49, the market has been absolutely flat since 2009, so not depressed He was adamant that that providing properties are advertised at the market rate, currently €1500/sq m, they sell quickly. The only problems arise when negative equity is involved or when someone is trying to justify a price significantly higher than the market rate. Getting mortgages was not difficult providing the valuation stacks up.

My impression is the sort of semantics that sell UK property, original fireplaces, roll top bath and dry rot, cannot be expected to increase values here. It is very easy to spend way too much renovating house and gardens in the expectation you get your money back and premium. The benefit is for yourself.

Another major consideration is the French nation wage. If folks don't earn much, they can't borrow or repay much. This underlines most of the rural locations where we tend to buy. Obviously it does not apply in Paris, Toulouse or Med coast.

So I guess the simple answer is divide his price and sq m and compare with the local rate. If it is way out, it's probably too expensive, unless a wealthy mug, who loves it, should come along.

paulwirral

Original Poster:

1,724 posts

80 months

Tuesday 2nd August 2016
quotequote all
Thanks for the answers , I know his house is mortgage free but it's difficult to explain your sometimes better off selling cheaply and getting on with what remains of his life , rather than hanging on a few years and not being around to spend it .
I've explained it's a very slow market and he's looking for a relatively wealthy buyer to want or need to live there .

Kev_Mk3

1,106 posts

40 months

Sunday 14th August 2016
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rdjohn said:
He was saying that here near Saumur 49, the market has been absolutely flat since 2009, so not depressed He was adamant that that providing properties are advertised at the market rate, currently €1500/sq m, they sell quickly. The only problems arise when negative equity is involved or when someone is trying to justify a price significantly higher than the market rate. Getting mortgages was not difficult providing the valuation stacks up.
This may make some sense as I am above you in Savigné-sous-le-Lude & have found exactly the same with the market

CarreraLightweightRacing

1,447 posts

154 months

Sunday 28th August 2016
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Would anyone here have any idea of the current market in Aire Sur L'adour (Les Landes, just down the road from the Nogaro race circuit 'Paul Armagnac')? I bought a 3 bed Villa Plain-Pied in 2007 for €222,500. I have rented it out ever since but am considering selling as it as either the French house or my GT3RS must go to fund a new business venture. The house was always intended as the pension scheme but selling the car is also not something I ideally want to do...

Sorry to hijack OP, I can't really comment on the selling front as I have only bought. That seemed to run very smoothly and the BNP Paribas are the best bank I have ever come across. The agency I used were https://www.orpi.com/aireimmobilier/ who are part of the ORPI group. Again highly recommended from my experience. They also look after the renting side of things for my tenants.

Edited by CarreraLightweightRacing on Sunday 28th August 17:23

paulwirral

Original Poster:

1,724 posts

80 months

Friday 16th September 2016
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CarreraLightweightRacing said:
Would anyone here have any idea of the current market in Aire Sur L'adour (Les Landes, just down the road from the Nogaro race circuit 'Paul Armagnac')? I bought a 3 bed Villa Plain-Pied in 2007 for €222,500. I have rented it out ever since but am considering selling as it as either the French house or my GT3RS must go to fund a new business venture. The house was always intended as the pension scheme but selling the car is also not something I ideally want to do...

Sorry to hijack OP, I can't really comment on the selling front as I have only bought. That seemed to run very smoothly and the BNP Paribas are the best bank I have ever come across. The agency I used were https://www.orpi.com/aireimmobilier/ who are part of the ORPI group. Again highly recommended from my experience. They also look after the renting side of things for my tenants.

Edited by CarreraLightweightRacing on Sunday 28th August 17:23
No problem with the hi jack , oddly I was looking at buying a gt3 rs or build the house , annoyingly the car would have been a better investment , not to mention a lot less effort !
As an update to the original topic , I called round to see my mate and asked how the sale was going , he's had no viewings at all and blames the agent as he reckons they aren't doing anything as he signed an exclusive deal for 3 months . I tried to explain that the agent can't magically make buyers appear and its in the agents best interests to try and sell the house as that's what they make commission on but it fell on deaf ears . I did tell him to go back to town and bang it up for sale with every agent in town at the end of his exclusive but he's now fixed his hopes on a Dutch internet agency as it's cheaper . I also told him to prepare for low ball offers but he won't entertain them . I've tried my best but I also know when to give in , I'm pleased in a way I no longer live there full time !

YankeePorker

4,588 posts

186 months

Friday 16th September 2016
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Hi Paul, it is a bad time for someone who tends to be depressive and to dwell on things to be a selling a house in France! The country is in the economic doldrums and the housing market is also holding it's breath at least until next years presidential elections are done and dusted. The drop in the value of the £ won't help your friend either with the British buyers, though will make his return to Blighty with a pocket full of €'s more pleasant. I presume that the agent has got the house on seloger.com? This seems to be the most effective of the property websites in France.

My house in the countryside near Versailles is up for sale or rent and it looks like we will do the latter again because the current sale price will give us a very painful loss in value! Having always been lucky enough to be selling into rising markets with a healthy profit, to find oneself on the losing end is a painful reminder that it's a cycle and nothing is guaranteed.

paulwirral

Original Poster:

1,724 posts

80 months

Friday 16th September 2016
quotequote all
YankeePorker said:
Hi Paul, it is a bad time for someone who tends to be depressive and to dwell on things to be a selling a house in France! The country is in the economic doldrums and the housing market is also holding it's breath at least until next years presidential elections are done and dusted. The drop in the value of the £ won't help your friend either with the British buyers, though will make his return to Blighty with a pocket full of €'s more pleasant. I presume that the agent has got the house on seloger.com? This seems to be the most effective of the property websites in France.

My house in the countryside near Versailles is up for sale or rent and it looks like we will do the latter again because the current sale price will give us a very painful loss in value! Having always been lucky enough to be selling into rising markets with a healthy profit, to find oneself on the losing end is a painful reminder that it's a cycle and nothing is guaranteed.
I've done my best for him but he's narrow minded , not to mention he and his wife have been there 12 years and never socialised with anyone but me and that's only as I have done a few building jobs for him , their isolated world makes it worse .
A couple of days ago I was there at my house and my neighbours son is desperate to buy the small house I built , there's a poor thread entitled "French self build " if your interested , as it's everything a modern young French guy could wish for but even though I've priced it at money back and tax paid he can't afford it , he did say he will try again next year depending on the outcome on the election . I wasn't looking to sell but it came up in conversation with his father . If by chance he does buy it I'll pay around 50k tax on a 160k house ! The government will take my profit , that'll teach me to not employ French trades , no invoice , no tax relief . I should know better as it happened with my previous house down there .


Just as well I actually like spending time .

Puggit

41,715 posts

193 months

Monday 7th August 2017
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Well we're finally biting the bullet.

Bought a lovely longere in Sarthe (La Chartre-sur-le-Loir, home of the famous Hotel de France) in 2007 for €195k (previously advertised at 220k!). We still have €170k left on the mortgage, and the top price we can expect is €150k. Just returned from the area, and started dealing with a local immobilier while we were out there.

I guess the saving grace is that the buyer pays all the fees (not mentioned in my costs above).

10 years of glorious visits to a great part of the world, but time to stop hemorrhaging money.

Mike-tf3n0

220 posts

27 months

Monday 7th August 2017
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We had a little SNCF passage a niveau cottage which we sold in 2005 to an American couple for €180K. They sold in 2015 for €80K to an English couple. I helped with the viewings, in fact took over all of that because the agents were totally useless, lazy and disinterested and eventually the sale came from a private ad in, I think, French Property News. I wouldn't waste my time with French agents ever again, private ad, lots of pics and be pragmatic on price, todays buyers are spoilt for choice!

Perik Omo

1,105 posts

93 months

Tuesday 8th August 2017
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Our place is on the market for €440k and has been for 13 months now. It's on with two local agents and also Immogo and Greenacres, we've had four viewings and all absoloutly loved the house (from the people themselves, not feedback from the agent) but didn't proceed for various reasons, the first couple it was a toss-up between ours and a mini-chateau and the chateau won, the second lot wanted to keep bees but the nearby power lines were apparently a problem, the third lot wanted bigger barns for horses and the last lot wanted to keep hunting dogs but the marie told them that our only neighbour would be problem as she trains guide dogs. All the vists so far have been via the largest of the local agents and nothing yet from Immogo and Greenacres although we have only been on Greenacres for 2 weeks and Immogo for 2 months. We put it onto the market fully aware that it could take 3-5 years to sell as there is a lot of land and not many people want that and the house is finished to a very high standard but again not many people take that into account (one Brit agent with the letters Le*****s in their name was very offhand when he came to value with the comment that it's 4/5 bedroom so it's €x and the fixtures and quality don't come into it).

Croutons

3,657 posts

111 months

Tuesday 8th August 2017
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Am I the only one saddened there are no links to these properties for sale..?

ClaphamGT3

7,676 posts

188 months

Tuesday 8th August 2017
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I know that you said you didn't want advice but, if he's in that area and wants to sell, he should speak to Gaby Van Edom at Entre Deux Mers in Gensac. She is the only agent I know in the region who really drives a volume of sales

Perik Omo

1,105 posts

93 months

Tuesday 8th August 2017
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Croutons said:
Am I the only one saddened there are no links to these properties for sale..?
Yes, very remiss of me, here's a link to our place:

http://www.green-acres.com/en/properties/78665.htm

paulwirral

Original Poster:

1,724 posts

80 months

Tuesday 8th August 2017
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Just clocked this thread after forgetting about it to be honest , mate in question has had 4 viewings and a couple of people express an interest, although I've a feeling they may be bargain hunters as he's told them they are moving back to England , also he's dropped the price a couple of times .
On a different note I agreed a sale of my house , completely out of the blue private sale just by word of mouth ! French guy wants it for his holiday - weekend house . I'll be making a large contribution to macrons wages late September . Thankfully he's bought all the large furniture as well . I'll have a small van load of odds and ends to come back after a couple more holidays there in the next couple of months .

Puggit

41,715 posts

193 months

Wednesday 9th August 2017
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Croutons said:
Am I the only one saddened there are no links to these properties for sale..?
When the Immobilier gets around to posting it up, I'll happily share



We converted this from a loft:


anotherjohnv

1,273 posts

142 months

Wednesday 9th August 2017
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I sold mine a couple of years ago by advertising it myself on the english sites and asking the wife of an english builder in the village to handle any viewings. I put it on at a realistic price including contents (calculated by taking the difference between a silly price that anyone would have paid, and a price of a similar place in the same village that had been on the market forever) and she sold it to the second couple who viewed and made herself 500 euros.

rdjohn

3,636 posts

140 months

Tuesday 29th August 2017
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Not leaving France - just getting ready for retirement and selling a couple of our holiday rentals, that can be combined into one dwelling.

https://www.french-property.com/vp/nv/ds/pays-de-l...