FAQ

Frequently asked questions: Financial matters

The agent's fees can be up to 10% of the purchase price and are generally paid by the purchaser. At Pearces Properties Online we do not charge the buyer any fees whatsoever as it is the vendor who pays us a small fee. The notaire's fees are approximately 6% to 8%. A large part of the notaire's fee is made up of government taxes due upon the transfer of a property and they are paid by the purchaser. You need to check what the fees are when you make an offer.
There may be fees for reports into the presence of termites, asbestos and lead. Generally, these fees are borne by the vendor but you need to make sure of this. There may also be fees for a surveyor (geometry) if land is to be divided and these may be payable by the purchaser. There will also be a registration fee should you purchase using a French mortgage. We will ensure that you know all costs at the beginning of the purchase.
There are two main types of tax on the property itself, land and occupancy tax. These are based on the rental value of the property and are normally paid annually. The division of the taxes between vendor and purchaser will be specified in the first contract. These taxes are usually stated in our property details on our website.
French law will apply to the inheritance of the property in France.
French inheritance law is complex and the way it will apply to you will depend on your particular circumstances. French law gives certain rights to family members, and these rights cannot be ignored. The notaire should ensure you receive advice which is clear, comprehensive and adapted to your personal circumstances.
Generally, the answer to this question is straightforward: no. However, there are different arrangements that can be put into place, depending on the individual situation, which can either ensure this happens or protect the survivor as far as possible whilst respecting other principles of French law.
In France, inheritance tax is based on the amount each individual receives and their relationship to the person who has died. Therefore, different methods of calculation of the tax apply to each beneficiary; for example, there is one rule and rate for a spouse and another for a child. It may be possible for married people to arrange their affairs in a particular way so as not to pay any tax, or for unmarried people to make arrangements to avoid some of the very high taxes that those who are unrelated have to pay.
 
Rules and regulations are constantly changing in France and the notaires should be aware of all the latest updates.