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The real estate agent has an intermediary role between the purchaser and the vendor. The profession is controlled by governing laws and access to a working title is strict. The real estate agents salary is open and uncapped and depends upon the accordance of the parties concerned.
The research for an apartment or for a villa is a very important moment in every one’s life, whatever the reason is which pushes you to purchase a property: you settle for the first time, or you’re family gets bigger, you want to change the area you’re living in, way of life, you would like to be closer to somebody or to your job, or you simply want to pamper yourselves by realizing the dream of an apartment with terrace, a villa with swimming pool, a magnificent sea view etc. You can also decide to invest in the stone(?) to invest durably, to make you a heritage, and if necessary, pass it on to your children. Rented at first, this property will be of use maybe to one of your close relations or will constitute your own pension. Finally, you can wish to acquire a property as a holiday home in the area, to take advantage of the wonderful local climate and the natural assets of Côte d'Azur.
In all these motivations corresponds a desire, and the job of a real estate agent is to help you to satisfy this desire, by helping you in your research, by guiding you from a fiscal and financial point of view, by introducing you to the best professionals of the sector. At NICE PROPERTIES we are convinced that an efficient research is made thanks to a real human contact which is why our councilors have for mission to meet you, to listen to you and to understand what is your lifestyle and which are your essential criterias which your new house has to answer to. Finally, they have to analyze with you the opportunities of the market, to target at best your research.
Indeed, what is more irritating than to visit a property which doesn’t match at all your desires? What is more destabilizing than to spend time visiting without ever finding anything which really tempts you? Faithful to its commitments and to its quality charter, Nice Properties wishes to propose you a real pact with the client. But what is it about exactly?
You would like to be called back by one of our councilors? Contact us
The law n°2000-1208 of December 13th, 2000 relative to the solidarity and to the renewal urban, called Law SRU, is one of biggest legislative reforms of the last 20 years. Its capacities concern the domain of the town planning, the functioning of the co-ownerships and the protection of the potential buyers and the tenants. Concerning this last sector, it established the following measures:
The 7 day cooling-off period in favor of the buyer:
A cooling-off period of 7 days is established in favor of the buyer of a property, whatever is the status of the salesman (if it’s about a professional of the real estate or not).
Since this date, the buyer of the property has the power to retract, within 7 days from the date of signature of the provisional sales agreement. The legislator established this deadline so that the buyer can have enough time to think about his decision. So this law is a real protection in favor of the buyer.
No payments of sums of money to a non-professional salesman:
During the signature of a sales agreement, it is from now on forbidden to pay sums of money to a non-professional salesman before the end of the deadline of the 7 day cooling-off period. Even here, this prohibition is to protect the buyer, by guaranteeing him a period of reflection without any financial commitment.
Refund of the sums paid within 21 days, if the purchase is made with a professional salesman:
If the property is purchased from a professional salesman, the deposit of sums of money is authorized. If the buyer decides to retract during the legal deadline of 7 days, the deposit sums must be paid off to him in a maximum 21 day cooling-off period.
Prohibition of the offers of purchase with payments of money:
The offer of purchase, or promise of purchase, has to be the object of no payments of money for the salesman. The payment of a deposit (generally 10 % of the price), collected by the salesman to formalize the commitment is now strictly forbidden by the law.
For each and every sale, in accordance with the law; the levels of lead present in all painted surfaces must be recorded and an evaluation is carried out in all buildings built before 1948. All buildings are subject to this law including commercial properties. The experts report is valid for a period of one year and must be reviewed without question for any sale taking place above and beyond this time delay.
The above measures are taken in order to prevent the ingestion of flakes of paint containing lead by both adults and children (children are especially vulnerable as paint containing lead has a very sweet flavor). In rare cases the ingestion of paint containing lead has proven to be fatal. The assessment is carried out using a fluorescent X machine, the results must not exceed 1mg/cm² of lead contained in the area of analysis.
If the recorded levels of lead exceed the legal requirement yet the painted surfaces are in good condition and show no damage making the ingestion of paint flakes very difficult, the findings will simply be recorded on the experts report.
If the surfaces are in poor condition and there is a real risk of ingestion, the vendor is obliged by the law to inform the prefect and also transfer a copy of the experts report detailing the levels of risk.
Asbestos diagnosis is obligatory when any building having a building permit granted before 1st July 1997 is put up for sale. Asbestos testing must be carried out by a registered and competent professional who is obliged to submit copies of both his/hers professional details and insurance certificates alongside the technical report.
Asbestos is a mineral material used previously by the building industry for its solid and flame resistant qualities. On the 1st July 1997 asbestos and its use became illegal throughout the French Territory.
In order to submit the required report the registered professional will locate areas which he believes to contain asbestos and samples are taken and submitted to laboratory testing. The expert can also measure the levels of asbestos dust in the air which legally must not exceed 5 asbestos fibers per litre of air.
If the laboratory results show higher than acceptable levels of asbestos or asbestos dust all areas concerned must be confined and the asbestos must be removed by a professional. If the asbestos is detected yet acceptable levels are recorded providing no risk to public health the expert’s diagnosis report is valid for a period of three years, beyond which a new diagnosis must be carried out and a new certificate provided.
A technical report carried out by a professional in search of termite activity is valid for a period of 3 months only. Termites are a rapidly developing insect feeding on products containing cellulose, (wood, paper etc) Any inspection carried out and revealing a negative conclusion cannot rule out the possibility of termite infestation.
After many years of campaigning, on the 8th June 1999 the Assemblé Nationale voted unanimously to create the law no.99-471 with the intention of protecting both vendors and purchasers from both termite and other insect damage.
Several amendments were made to the law no.99-471 throughout the years and in 2001 the code was modified to include obligatory preventative measures to be taken concerning all future construction programs.
The “carrez” law obliges the vendor to indicate the exact surface in square meters of the property he wishes to sell whether it be new or older construction with the exception of detached houses and buildings.
If the measured surface area is inferior by more than 5% to that of the measured surface stated on the Contract of Sale the purchaser has one year from the date of the signature of the sale to obtain a reimbursement in the price of the acquisition.
These legal obligations concern only properties forming a co-ownership program making single habitation properties exempt from this rule (eg detached houses, villas etc)
Since the 1st June 2006 both the vendor and the leasor are responsible for informing the purchaser or lease holder as to the level of natural, seismic or technological estimated risk in the area where the purchased or rented property is located. More information concerning this ruling.
Any purchaser of modest revenues wishing to obtain a 0% mortgage must provide and submit a habitability certificate to their lending organization. Please find more information here.
Obligatory since the 1st November 2006 for each and every property transaction an energy performance diagnosis must be carried out.
The energy performance diagnosis (EPD) is carried out on any building or section of a building in order to measure the levels of energy consumed or to estimate the consumption giving a clear classification to purchasers allowing an energy performance comparison to be made. The diagnosis also provides advice and recommendations concerning the more efficient use of energy. (art.1.134-1)
As of the 1st November 2007 both individuals and registered companies wishing to sell the apartments and houses that they own and which feature natural gas installations which are more than 15 years old must conduct an obligatory gas survey in order to limit the security risks taken by the purchaser.
Without having to dismount the existing gas installations the following points established by the decree of 6th April 2007 are controlled by a professionally appointed expert. The diagnosis focuses on the four key areas of gas installation:
A Gas Testo 327 machine is used for testing the gas chimney and the levels of Charbon Dioxide.
All vendors wishing to sell a property which includes an electrical installation of one description or another of at years 15 years old are compelled to carry out the necessary testing by a professionally recognised surveyor. The surveyor’s results are added to any new offer or contract of sale. When surveying a co-ownership property only the private living quarters are put under testing.
The surveyor is obliged to test all electrical apparatus such as sockets, fuse boards, and the general electrical supply making sure that there is absolute compliance with the latest safely rules and regulations. It is also his job to ensure that the following points have been tested and approved.
In summing up the main role of the surveyor is to identify any inappropriate electronic set up and isolate any potential electricity risk or malfunction. The installation must correspond without fault to the usage of the identified room or area.
Since 1st January 2009 a three year validity period was given to a certificate of conformity delivered by the surveyor having carried out the initial survey. The survey itself must be carried out by a registered professional who plays an impartial role in the property transaction.
A notary is a public official who’s role includes receiving and processing all acts and contracts to which the participating parties require authentication. The notary plays an important arbitrary role in advising individuals, businesses and collective groups. The security and moral principles of contractual activity are assured and many checks are carried out including mortgage security, cadastral surveys, management committees, urbanization services and the department of planning permission as well as other participating authorities.
Having been modified several times over, the decree no. 78-262 of 1978 remains the most essential reference in regards to the definition and application of notary fees. As a general rule, acts to which the public interest requires notary protection are subject to a pre-defined tarif. However, the notary’s remuneration with regards to other terms of work carried out is not billed in accordance to these same tarifs and the fee is generally calculated and agreed by the client and the notary himself.
The notary’s costs are calculated on the basis of 5.09% of the indicated amount or of the monetary value of the property in question. The above does not apply to the construction or delivery of new-build programs to which real estate VAT is applicable.
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The ‘taxe d’habitation’ or council tax is calculated annually using the figures submitted according to the individual’s property status on the 1st of January of each year. Council tax is applied to all furnished habitable spaces, the amount is calculated according to the estimated rental value of the property. The tax is paid to the commune’s account in the department where your property is located.
The ‘taxe foncière’ is a local tax linked to the ownership of a property, payable for the entire year by the home owner from the first of January of each year in progress. The amount is calculated by adding the taxable base tarif (the rental value – 50% reduction depending on the given address of each property) to the level of tax elected by each territorial community.
Fixed rate tax for non-resident home owners in France.
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Non-resident home owners in France are often subject to pay a minimum fixed rate tax on their properties regardless of whether or not the property in itself is generating income. In order to determine the taxable base rate the true rental value of the property and any outbuildings is taken in to consideration and the tax is defined by the use of a sliding scale.
Minimum fixed rate taxation does not apply in the following cases:
The 3% tax paid in accordance to the monetary value of buildings owned throughout France targets all legal entities, French or foreign, who own directly or indirectly any buildings built on French soil. However certain exemptions exist to this tax notably those who respect their obligation to declare and cooperate with the various tax authorities making available upon request any information deemed necessary. These are businesses or entities whose operating head office is registered in the EU or in a country which has signed an administrative assistance agreement with France in order to reduce tax fraud and evasion. The rule also applies to states who have signed a treaty with France allowing them to benefit from the same regulations as the businesses whose registered head office is in France.
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A definition of shared ownership according to the first article of the 10th July 1975 law with relation to this subject.
Any building or group of buildings of which the ownership is divided and distributed to a group of people each having their own allocated zone including private quarters and a share of any communal areas.
The shared ownership regulations form a contract which is binding for all property owners of the same building. It establishes the rights and obligations of each member as well as the regulations regarding the management of all communal areas.
Article 14 of the 1965 law states ‘ The community of shared owners is represented by the syndicate – a legal entity in itself’. The syndicate plays an essential role in the conservation of the building and the management of all communal areas. A vote is taken at the annual general meeting as soon as the subjects requiring deliberation have been determined and explored.
The syndic or managing agent is the legal representative of the syndicate of shared owners. His mission is to ensure that the established regulations of the building are respected, action the decisions made by the shared ownership syndicate, overview the management and conservation of the building and establish and put forward for vote a provisional annual budget.
The management committee provides the link between the managing agent and the shared owners syndicate.
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