Good preparation France
Good preparation France
Being well-prepared is often half the battle and, once you get deeper into the buying process, it prevents stress and panic attacks. In short, to be well prepared is to buy carefully and in a controlled manner. We can also be of service to you already in the preparation process. We have an extensive network of notaries, specialized legal advisors and tax specialists. But also specialists who can perform a building inspection.
Is buying and owning a house in France really for you? And how do you address it? There are legions of books available on this subject.
If you are going to buy a house in France then some knowledge of the French language is essential. It starts with language, even in France.
If you do not know what you have to spend then you cannot search for a house. Get advice on this; based on available equity and your borrowing capacity, the buying budget can be determined. Contact us for a free exploratory “quick scan” and possibly a pre-application.
Good planning gives overview and thus control of your project. Create a timeline showing approximately how much time you will spend on each stage of the buying process.
Avoid dwelling too much on multiple thoughts (regions). Focus on a particular French region and thus avoid an overly broad orientation that will cost you too much time and make it just search and your plan will never become concrete.
To be prepared for applying for a mortgage later, it is very wise to prepare for it at this stage. In fact, a lot of documents will be requested regarding your identity, income, expenses and future collateral.
If you have never bought a house in France before, it is unwise to want to handle the purchase without outside help. You will find that it is impractical to have to reinvent the wheel on every subject. Moreover, a good advisor makes his money back. Identify which advisors you can approach; for example, regarding advice on the content of the purchase agreement(Compromis de Vente), tax advice or an architectural inspection.
You may nominate your own preferred French notary. If you already know where you are going to buy then it may make sense to choose a notary already. Hypotheek & Buitenland can help you find a notary who is familiar with foreign clients and also speaks English or even Dutch.
We can help you prepare a notarized power of attorney to complete the purchase from the Netherlands (i.e. without having to travel to France to sign personally with the notary). We have contacts with a Dutch notary where the process of making the power of attorney and apostille can be arranged remotely (via video call).
When it is clear that buying into an SCI or SARL de famille is really the best choice for you, it is important to realize that you are going to set up a company in France. There will have to be articles of association, a deed of incorporation, registration with the French Chamber of Commerce, and the company must be registered with the French tax authorities. In addition, a bank account in the name of the company will need to be opened. We can put you in touch with a Dutch agency specializing in this.
Especially with somewhat larger purchase amounts, it is wise to think about “estate planning” in advance; in other words, avoiding paying (too much) inheritance and inheritance tax in the future. To this end, it makes sense to make choices regarding the legal design of the purchase prior to the purchase. Hypotheek & Buitenland can put you in touch with legal advisors specialized in this.
Would you like to receive a comprehensive checklist? Contact Mortgage & Abroad.
