Thinking of buying a property, an apartment or a house or building. Here are some “practical”.
The search for a property
This is the first step.
How do you find your dream property?
-By relationships, Ads by-owners (warning: some professional announcers do not hesitate to impersonate individuals), -For advertisements in professional journals in public or in journals (including properties) Ads-by professionals, in newspapers (there are more and more, through solicitors or agents, distributed in your mailbox, or available in public places) -Watching the signs placed on the property (there is not always) -Internet (either professional or specialized sites or through search engines) -Intermeiaire by an agency, you have appointed for this purpose; -Or through
a notary, with a service of “negotiation”. Attention, all notaries do not practice negotiation. To find out, you just see the ads, or simply contact the lawyer and ask him. In some areas, notaries came together as part of a group of trading, which allows them to present a very important choice, for sharing their files.
The simplest case is when you notice a particular property that interests you. Simply contact the owner or intermediate. But in most cases, you have an idea of what you wish to purchase, and you contact a professional.
With it, you can already make a first overview. Depending on your wishes and your financial options, it will offer a list of assets, and generally give you the descriptions. Attach importance to the photos: a picture is worth a thousand words.
Then, either you operate on favorite, and you immediately ask to visit one or more properties, or you operate more efficiently, and you continue to explore until you find the property that “you” is appropriate, according to criteria that you set.
Only visit the property might actually interest you. Needless to visit 25 homes before you decide: to see too, you can not see anything.
Most of the time the goods offered for sale (except for new properties or in the future state of completion) are negotiable, and may have a line of discussion. First, do not hesitate to talk to the trader, who generally you will understand if they have a “leeway” or not.
To you also get an opinion, based on comparable properties that you have visited otherwise, or similar transactions recently concluded, and especially depending on your budget.
It will do more than try your luck and submit a quote-cons, by limiting in time (several days).
In practice, it will rarely be accepted as such, but will often give rise to a basis for discussion. To do your accounts and see how far you can go.
You do not find
Did not find what you want in the lists that have been proposed. Please leave your contact information to the professional that you contacted: Most clients are monitoring and will contact you if a property might be what you are looking for rides to be given to the sale. This can also be an opportunity for you remake of a survey on your needs and possibilities, and perhaps change direction: for example, you turn on land in the periphery, rather than a house downtown.
Your investment will depend on your savings or current availability, and your “net lending”. We advise you, before you begin your research, make sure you accurately, all of your borrowing options in order to avoid committing yourself in a difficult funding or may not succeed. This will save you valuable time later. Be very careful about the aid which you qualify (eg housing benefits) they are temporary, and will probably diminish. Make sure to explain carefully the terms of variability in rates or deadlines: a clause misunderstood or read too quickly can have serious consequences.
Buying a house or land is an important act, engaging you for many years.
Are you sure that you will buy that corresponds to your immediate needs and future? Resale is always possible, but it may take several months, and we must not lose sight of the risk of resale.
Try to estimate the importance of work as accurately as possible:
-Brought in a business or to encrypt the work (and help you discover any defects or difficulties that you have not seen); -Do not overestimate your abilities: DIY staff takes a long time, and the best will eventually tire. It is better to postpone for 24 hours your final commitment (the lawyer will generally accept a single reservation), but to engage lightly.
You have given your consent.
The notary will draw up and sign you in the days that follow, a “compromise”.
This may occur either in the form of “conditional sale precedent” or as “sales agreement”, according to the region and the habits of the Office. Generally, owners will be present, allowing you ask them some information or clarification. Some agencies collect the first signatures of the purchasers, and then send the commitment to sellers. Do not forget that as long as the seller did not sign, they are not engaged.
On this occasion, it will be sent (if it has not been done before), various information, including the presence or absence of asbestos, lead, the housing area by the method known as the “loi Carrez” (for apartments), etc. …
The seller agrees to sell to anyone but you during the agreed period, you will be asked to pay a security deposit (between 5 and 10% of the price). Do not pay the seller, but return it to the undersigned. Some agencies are also eligible to receive funds.
Do not forget that you can lose if you do not fulfill your commitments.
It is an essential element of the compromise, and your safety: if such an event occurs (or does not occur), you can cancel your commitments, no impact for you, and your deposit will be refunded. Thus:
It may be a right of first refusal (for the benefit of the municipality, a tenant …), making the sale to your advantage impossible;
-There may be easements planning (alignment, highway projects or airfield …), causing you to abandon your plans; -And most importantly, you are not certain to obtain discounted loans, the terms proposed by you in a timely manner.
Attention to the acts in “cascade”: if you yourself are trying to sell a property, there is no guarantee that the sale will go through. It is wise (required) to provide for the regulation of the sale as a condition precedent, so you do not end up with a bridge loan in a hurry, and two houses.
Take time to study these suspensive conditions carefully with the notary.
After signing the agreement, you will be handed out, and cons is immediately received by post or by registered mail with return receipt.
You then have seven days to “think”. If you no longer want to buy, you only need to notify, without any reason to invoke. Compromise is automatically lapse and the funds you have paid will be refunded.
If you do nothing, the compromise is beginning to produce its effects.
Upon signing the agreement, the undersigned ask all administrative documents (many) to enable him to write and prepare the deed and bring you safely to the transaction.
For your part, do as soon as possible, your efforts to obtain:
Your-or your loans,
-The necessary permits (building permit or demolition, work authorization, authorization processing facilities), -Estimates potential.
WARNING: Any delay in your steps, neglect, any timeout even if you’re not responsible, can work against you, and you lose the benefit of the conditions precedent. Always inform the notary of your efforts and ask for a written agreement (or not), any extension of the original deadline (which you will usually be granted if the delay is insignificant and do not lie).
Finally, once you have your supply of credit, notify the undersigned immediately: banks can hit you ALSO HAVE returned their draft before sending the case to the lawyer, or even, do not prevent at all case of unsecured loan, which may delay the signing.