English
FrançaisFirst contacted Herve through Seamus approx. 12 months ago with a view to selling of property in Vanves Porte De Chatillon under lease to P+V (Adagio).
Herve quickly had all the requirements --documents etc - outlined to us and the conditions of sale--contracts etc.He also gave us a very good understanding of the process so that once we forwarded on the paperwork and signed the agreement with Pierre-Revente, our property was up for sale on their website in double quick time.
Shortly after going for sale we had an offer at the sale price, but unfortunetly, the buyer pulled out on the last of the 10 day waiting period due to personel reasons.
We thought that it would be a long haul after that setback but a few months later we got the news of another buyer and this time it has gone through and today, we received the good news that everything had been signed off and we now had cash instead of a property--Yipee!!!!
Over the 16years we always received the rental payment but found it quite dificult to have any issues or queries dealt with either quickly or without having to ask it several times and of course, dealing with French Revenue was a nightmare unless you used a french account. We should have used the service from this website.
Herve has excellent english and was always available to help--Many Thanks Herve for a successful and happy outcome.
Count yourself as one of the luck ones - thousands are not
I do. I really do.
I have been reading the horror storys of so many people who have been let down by so many organisations and "the system" which seems stacked against the average couples trying to provide for their future but I felt it important to also tell of my happy ending. Important also to let people know that there are really good people who will help with guidance in selling
Hi
I read your post and am glad you manged to get out of the mess. You dont say if you lost any money or made money on it ?
I managed to sell my 2 apartments before Christmas too after 16 years of headaches . I paid €200,000 for them and sold the two for €56000 . A very nice loss I would say .
But I am so very very very happy to be shut of them .
Now I am having a problem as I paid €8000 plus VAT €1600 to sell them . I was told I would be able to claim the VAT back but now the French accountant will not
allow me to claim it back ! Please can you tell me were you able to claim the VAT that the estate agent charged you back or not ?
thanks
carol Ng
Jesus I feel for you what a loss!
Property was sold and we got €2k less then we paid and we are waiting for accountant to finalise our account with,hopefully, a vat return of €3.5k fingers crossed. Didnt realise that there would/could be an issue with claiming vat
Selling a Pierre & Vacances is simple enough as investors are often looking for properties managed by Pierre&Vacances. Of course there are some conditions. Most of the residences interest investors but sometime a location could become a problem if in the middle of nowhere.
Investors often look at the lease and if you are within the last 3 or 2 years of the lease they often wait to see if there is a renewal offer on the lease.
It is very good to see some nice enough stories like Marty's.
Delighted you were able to get that particular albatross off your back Martyo.
You give a good recommendation for Herve. Were there any particular points that you would advise potential users of this service to look out for? I ask as I have a P&V property that I am considering selling and I have made the first steps in relation to contacting Herve (who was recommended to me). What were the pitfalls, if any?
He has asked for a lot of paperwork etc which is no problem as I kept good records. However, he also quotes a commission rate of 12% plus VAT which, on a €300k property is €36k which is a significant amount of money. I understand you have to pay for professional services but I certainly dont want to pay over the top, particularly as I am already under water valuation wise.The €36k couldrise to over €40k if the VAT on his fees are not reclaimable..
Many thanks
Ger,
If I may? My suggestion would be to take few agencies request to take non exclusive mandates and so when they have a very interesting property they have to double the work in order to sale it first.
Yes every agents will ask you for the long list of documents, if there is an issue with anything on the administration side I am happy to assist. Agencies specialised in reselling leasebacks are between 10 and 12% including VAT. Myself I am happy to help.
Contact me if you wish.
Regards,
Eddy
Hi
why are the commissions (12% is stated above) to the realtor so high? I read (URL below) that 5 to 10 % is a typical range and the contract can state either the buyer or seller pays, or they split the commission. Is this incorrect? Last, if there is no leaseback contract on the property, will it command a higher price?
https://www.french-property.com/guides/france/sale/estate-agent/commission
thanks,
Michael
Michael,
If you are selling a leaseback, your normal Real estate agent at the street corner is not usually capable to help unless you are selling without the Commercial lease. If you sale a leaseback you have to contact a specialised agents and they have their fees at around 10 to 12%. I have not seen one lower for the moment.
If you sale without the lease, if it is allowed in the Co-ownership rules, you could then use a regular estate agent but it is still difficult enough and their commission is more like 7 to 9%.
Regarding the selling price, you are not always garanteed to have a better value if you sale without the lease. It is all depending on the residence, the location, and others things like co-ownership rules, town hall, planning permissions, residence status,...
Regards,
Eddy
Did you use a notaire for the sale? Is Herve a notaire?
To sale an apartment you need to either find a buyer or use agents to find buyers. Once the buyer is found a Notary public is to be engaged to proceed with the sale documents.
Notary public in France are state agents in place to make sure both parties are respecting the procedures to sale. Herve is an agent.
Regards,
Eddy