General information on beginning the search / Where would you like to buy real estate?
House or apartment?
New building or old building?
What does the price of the object depend upon?
Who is your negotiating partner for acquisition?
The current market situation on the Cote d’Azur
Acquisition of an old building / Viewings / Appraisals
Preliminary Contract ( „avant contrat“)
Role of the notary / „acte authentique“
Additional expenses for the purchase („frais de notaire“ or „frais d’acte“)
Purchase of a new building
Purchase of land
Financing
Foundation of a S.C.I. („société civile immobilière“)
Purchase on the basis of pension („viager“) as a special form of property acquisition of real estate
Taxation of the gain („plus value“) from sale
Right of succession
Monaco
Conducting a sale / Preparations for the sale
SELLING A PROPERTY / USING AN AGENT?
SELLING A PROPERTY / PREPARING THE PROPERTY FOR THE SALE
Landing stage for your boat: Buy or rent?
Acquisition of an old building / Viewings / Appraisals

You have decided on purchasing an old piece of real estate.

By viewing the object and the surroundings you have thoroughly checked that the location, neighbourhood, view, layout … of your ideal object actually meet your expectations. Please do no forget to determine the constructional / technical quality of the object and to estimate possible necessary repair / renovation and reconstruction work and to therefore add the respective expenses to the price in order to obtain a realistic picture of the investment sum. At this point it could become necessary to call in a specialist.



Regarding the floor space of an apartment: The law (Loi Carrez) dictates that the exact living area must be stated in every promesse or compromis de vente and also in the „authentic file“, the concluding document to be signed in the presence of the notary which concludes the passage of title.



A host of legistlative and regulatory texts have been introduced over recent years pertaining to the increasing number of diagnosis and reports to the drawn up by vendor in relation to the property on sale. All these documents are assembled in a global file entitled “Dossier de Diagnostic Technique” (Technical Diagnosis File). The sanctions applicable if one or more components are missing are clearly indicated. If, on the day the final deed of sale is to be signed, the documents pertaining to exposure to lead, the presence of asbestos or termites, or the state of gas and electricity fixtures, were not to be found, then the vendor is considered not to have provided a guarantee against the corresponding hidden defects. An offence of this nature can constitute grounds for the sale to be cancelled or damages to be paid. If the report on natural and technological risks is not provided, the buyer can terminate the contract or ask a judge to reduce the sales price. Finally, an energy footprint is only indicative; the buyer may not use the information in the diagnosis against the vendor.



The « charges de copropriété » / the housing expenses: Before purchasing an apartment the buyer should have a look at the „règlement de copropriété“ (the declaration of partition for the owners’ community). Community property and the limited common elements are precisely described therein and the respective conditions of use written down. The declaration of partition is a form of fundamental law of the owners’ community. Likewise you should have insight to the last minutes of the „assemblée générale“ (the owners’ meeting) in which you might find information about work agreed upon by the owners’ community. And finally you should have the last two billings of the „charges de copropriété“ (housing expenses) presented to you.