Showing posts with label how to buy a dream home in France with very little money. Show all posts
Showing posts with label how to buy a dream home in France with very little money. Show all posts

25th September 2011

Ask an Englishman what's the most taboo topic for discussion and he'll say Sex. Ask a Frenchman, and he'll say Money! So what's a poor expat to do?  In times of crisis we don't have State benefit protection any more so we all need access to transferable cash. But if no-one wants to talk money, where can you get advice? An IFA's no good if you don't want to be pushed into Grotley's Offshore investment bond.  If you read the financial press, both the euro and the EU are about to go zplat any moment, but in England there's UK tax and exchange rates to worry about.
Time for lateral thinking. Always been good at that.  The best French investment is known as assurance vie - but it's nothing to do with life assurance. No inheritance tax or French income tax, funds grow tax free, and if you're not talking to your children any more, you can leave the money to whomever you wish. Yes, it overrides the draconian French succession laws.  Of course, a worrier like me was bound to ask: if the bank or EU goes bankrupt, is my money guaranteed by the State (and if so am I covered as a non-French national)?  Interestingly, the bank said yes, you're covered for 100000 euros, but the same question put to LaPoste, and the answer was no.
Nothing comes easy. Him indoors says when he asked the bank manager 'how do I stand for a loan', the reply was 'you don't stand, you grovel'.

     
 


How to buy a dream home in France with very little money

Finale.
We shook hands all around.
It seemed that we had bought our dream house.
Let the future begin!
One stroke of good fortune was discovering that the B & B landlady’s husband was a civil engineer. The agent told us that French people don’t usually bother with a survey before purchasing a property, merely doing structural work as and when needed. However, we had been conditioned to seek some sort of survey so were pleased to find an English professional to give our property the once-over before the end of the seven day cooling off period which purchasers are given in France before signing the compromis de vente or to retract after having signed the deed.
‘Just as well we found the house in our first week then,’ responded him indoors to this news. And, of course, he was right. It meant that we could await the engineer’s report and, if all was well, sign the agreement before leaving France. We discovered that house purchase solicitors in France are called notaires, and unlike in England, are disinterested parties to the transaction, i.e. they act for neither the vendor nor the buyer. They seem to act solely for the government, as far as I could see. We learned that the seven day cooling off period runs from the date on which the notaire notifies the potential purchaser of the completed draft deed of sale or gives him a copy in return for a signed receipt. Apparently the deed of sale may not be signed before the expiration of this period.
We needed also to ensure that our compromis agreement contained the following provisions:
identification of the property being sold (well yes!);
a guarantee of the absence of asbestos;
certificates regarding elimination of termites, lead etc.;
the terms of the purchase;
the price and date of payments (‘hah hah,’ from you know who);
the date for taking possession.
During that final seven days in France we waited with baited breath for the engineer’s report. It was hardly life or death, but it felt that way. Dependent on what he found would be our whole future. We weren’t so much buying a house; the house was the catalyst which would give us a new future. Two days before the end of the seven days the engineer arrived with his ten page report. My eyes, long trained to skim-read and summarise wordy university documents, flipped frantically to his final conclusion:

Overall opinion…

‘He wasn’t wearing an overall,’ from him indoors.
‘Shh, I’m trying to read.’

The property offers good, spacious and airy accommodation with good-sized rooms and has a gas central heating system. I found no evidence of any significant defects or shortcomings other than those mentioned in Section F…..

‘F’s a good letter to use for telling us we’ve been stuffed……’ says he. I’ve given up on his laconic sense of humour after nearly forty years of suffering, so I blithely continued reading.

Readily occupiable upon vacant possession.

By now we both fearfully flipped to that ominous Section F, labelled Action:

Dampness in external render needs to be addressed…

Chimneys should be swept and the steel flue liner and access point to the flush fitted insert burner should be checked with the owner.

Need to discover how storm water is disposed of – could not be seen on inspection.

It should be established by the notaire where the responsibilities lie with regard to water escaping from someone else’s property and what the insurance position is.

With some relief I turned to the engineer.
‘So, what does all this mean? Are you saying that in your professional opinion we’re O.K. to sign the compromis de vente?
‘Yes. The points I made under Section F are the normal types of action that purchasers should expect to carry out when buying an older property, but are nothing unusual. I therefore see no reason why you can’t sign the compromis and go ahead with your purchase.’
Hallelujah.
And so we went ahead. The process of buying and selling houses is so different in France, and on reflection I much prefer the French way of doing it. Every time the purchaser needs to sign anything at the notaire’s office, the vendors and the participating estate agents all attend and discuss the situation in the one office. The compromis agreement even included a statement testifying to the absence of such things as termites or asbestos, lead etc. These are all things I probably wouldn’t have thought to ask in the heat of the moment. Whereas in England….everything seems to be handled over the phone and by post, sometimes not meeting the solicitor in person throughout the whole transaction.
Another thing I’m surprised about is that we need to add a special clause to the final sale agreement, effectively altering French final testament laws in leaving the property to a spouse instead of to any surviving children. You live and learn. What was also a particularly nasty shock was the size of the notaire’s fees. At eight percent, this was considerably higher than the one percent charged in England.
‘At least the agent’s fees were already included in the selling price,’ said he, ‘.. so we didn’t need to pay anything to them.’
‘I suppose so,’ grabbing the calculator to work out whether we would shortly be in hock to all and sundry to pay for it all.
Well, tomorrow we return to England. Everything’s been done and signed for. We’ve arranged to sign the final paperwork and pay the final ninety percent when we return in May. Pleased, smug smile of satisfaction. May is the end of the six-month flat rental period in England.
‘Have I been clever or what?’ to no-one in particular
‘No, just smug as usual’.
Pillow throwing time.
End of Extract. Hope you enjoyed it! Let me know by your comments whether you want me to include another one next Sunday.

How to buy a dream home in France with very little money

Part 3.
‘I don’t know what we’re going to do,’ I confided to the agent. ‘We simply must find something on this trip, or we’ll be homeless.’ She looked thoughtful for a moment, before coming up with an idea. I think you’d do better with a more modern property than the ones we sell. Would you like me to introduce you to a colleague who runs an agency round the corner? They have some modern properties that I’m sure would suit you better?’
‘Oh, are you sure?’ foolishly. ‘I mean, aren’t they your competition?’
She laughed. ‘This is France, my dear. We have lots of arrangements like this, where the welcoming agency pays a commission to the introducing agent when a sale is forthcoming.’ She smiled.
‘Oh, I see,’ I replied. ‘Well, yes, of course we’d like to see what your colleague has to offer.’
The agent was quickly on the phone, speaking in rapid French, but with an unmistakeable English accent, making it quite easy to follow. She put down the phone, explaining that the other agency was owned and run by a Dutch couple who were pretty much tri-lingual. She ushered us to the door and pointed down the cobbled street to an orange sign we could just make out in the distance. Wasn’t orange the Dutch football team colour? queried H. Not now, H, not now. The agent closed the door with a flourish, no doubt happy to be rid of us. We walked away, each of us strangely silent as we contemplated what would happen if this also proved a disaster.
The fog which had been hanging over us like a blanket all morning now seemed to be rising, lifting my spirits a little as we wended our way towards the orange sign beckoning to us at the end of the street. We glanced at the large picture window and immediately spotted the photo of a rather pretty bungalow with blue shutters.
‘How much?’ from him.
I peered a little closer. ‘Actually, it’s in our price range.’ Hope springs eternal. We climbed up the steep stone step and pushed open the stiff door. A loud bell clanged in the distance.
‘Enough to wake the dead.’
‘Shh.’
A tall, smiling man came forward to welcome us. I knew instinctively that this must be the Dutch owner. For one thing, all Frenchmen seemed to be short and this man looked well over six feet.
‘Hello,’ in impeccable English. Yes, he must be Dutch. What is it about all the Dutch and the Germans that even the roadsweepers can argue about the politics of the day or on every subject under the sun in perfect English, whilst we English……
‘We rather like the look of that bungalow in the window. Could we take a look at it?’
He looked at his watch. It was five to twelve, the inviolable French lunchtime, when everything that moves closes for lunch. ‘I tell you what. We’re just about to close for lunch, but I’ve got a leaflet on the property here. Why don’t we meet up at two, right after lunch, which will give you time to consider it in more detail?’
We agreed that was a good idea and shook hands.
‘Bon appetit.’
‘A bientôt,’ we chorused, suddenly cheerful at this new turn of events.

You won’t believe this, but the leaflet he gave us was in Dutch! I think he must have run out of English versions, but that didn’t help us much. I searched my memory-banks for snippets of German learned a long time ago to try to make sense of the thing.
‘De woning is goed onderhouden en is gelegen op een perceel van 2133 m2 aan de rand van een middeleeuws dorp.’
‘Huh? I’m going straight back to tell him what I think of him. Does he want to sell this place or not? How anyone is supposed to understand such double-Dutch I don’t know!’
‘Look. Don’t panic,’ optimistically from me. ‘I think woning means habitation and perceel van 2133 m2 means the number is the land size. That looks good. And in any case, I’ll know straight away if it’s the place for us when we see it. I have a gut instinct for this one. Just trust me…..’
‘Hmm.’
At two-fifteen the pleasant Dutchman returned. We were already learning. Nothing moves fast in France, and especially not after the all-important midday meal.
‘You have eaten well?’
We nodded, not wishing to tell him that after we had eliminated the escargots, the cassoulet (didn’t know what was in it) and other strange concoctions on the lunch-time menu of the local bar, we had dined on a simple pizza.
‘O.K. then. Follow me,’ a black shiny folder underneath his arm.
We followed him out of the agency, with me nearly falling down the steep step onto the cobbles below. Just saved myself from this undignified ignominy in the nick of time.
The fine drizzle and fog of earlier had now given way to a wondrous blue sky with not a cloud in sight. This was more like it. We raced after the agent, our creaking knees no match for his long, lengthy strides until, disappearing suddenly around another one of those sharp corners, we found ourselves in the main Place de la Halle. He marched over to his Renault 5 and our hearts sunk. Were we all to fit into this tiny vehicle? The agent saw our faces and laughed heartily. ‘Don’t worry. There’s room enough for us all.’
‘Yeah. Right.’
There were only three doors, so he opened the passenger side and we struggled into the back, bent double with the effort before collapsing onto the back seat. He clanged the door shut several times before it engaged, then walked around and jumped into the driver’s seat, somehow expertly folding his long legs into the cramped space inside.
‘This is cozy, isn’t it?’
Silence from the back.
He cranked the car into some form of spluttering life and we were off, skidding around the greasy cobbled alleyways until thankfully onto a tarmac road. He raced along at breakneck speed. I couldn’t see the speedometer but felt sure that the speed limits around here weren’t meant to accommodate Stirling Moss. Still, we tried to relax and couldn’t help but admire the wondrous scenery flashing past. This was more like it. Somewhat different from High Street back home. I had a sudden thought: ‘Oh God. We don’t actually have a home right now.’ I suppressed it and stared dazedly out of the window again. Everything seemed so surreal somehow, as if in a dream. I shook my head to clear my thoughts. This was important. I must make the right decision, a decision that would affect the rest of our lives.
‘Oh God.’
Eventually I spotted the name of the village on the Dutch leaflet: Paradis de Quercy, heralded by a red and white sign, with another language printed beneath. Yes, this must be the village, but what did the sign mean? The agent laughed and explained that all signs in the region had the old Occitan name printed underneath. It was a way of preserving the heritage of the region. He cranked up the brake handle before fully stopping the car, throwing us all forward momentarily, whilst he studied the property address again. Then suddenly we were off again, careering around corners and doing handbrake turns before finally, with a triumphant ‘Voilà!’, we were turning into a long shingle driveway. We had arrived.
I scrambled out and gazed up at the house, which was positioned on a rise, slightly to the right of the long, curving driveway. ‘Look,’ I said to my other half. ‘It’s got crépi walls.’
‘I think it looks rather nice.’
Exasperation.
We both stood and stared again at the house. I knew instinctively, just as I knew I would, that this was our house. It looked positively beautiful with its Mediterranean blue shutters, rose bushes around the door, and long stone terrace in the front. All around us were numerous variegated trees and shrubs, including plum, apple, oak, balsam poplar and chestnut, interspersed with rolling green grass.
In the doorway emerged Monsieur and Madame, the owners, walking out to greet these strange English people. We all shook hands and said Bonjour, before Madame ushered us inside. My mind momentarily cast back to all the other French houses we had viewed so far, and the dark, crumbling inner décor we had discovered. I held my breath. Inside, I knew at once that this was for us. It had a beautiful natural stone fireplace, complete with insert, which Monsieur explained was a log-burning stove. Set above the insert was a heavy dark oak mantelpiece, rather like a railway sleeper, the sort that everyone craves but rarely finds in England. We walked into the kitchen. Having already made my mind up, I dismissed the lack of facilities, knowing that him indoors would soon arrange something more suited to our English tastes. We completed the tour, noting the house was surprisingly spacious for a bungalow, with its three bedrooms and bathroom.
Monsieur was evidently pleased with the sunken bath. He beckoned to him who knows. ‘Regardez,’ he pointed. I could tell from the response that my other half was already picturing stumbling into that great hole and not being able to get out again. At least he didn’t say he’d look into it. Clearly, the sunken bath would have to go. Pity really. I rather fancied wallowing in Roman splendour, cavorting amongst the billowing soap suds of my subterranean pleasure retreat. Oh well.
Glancing in the mirror above the washbasin reminded me of how, as tall Europeans, we always seem to get caught out by short plumbers. It always seems to be the plumber who fixes the height of the mirror. He will always adjust it according to whether he can see his own face reflected back, forgetting that for ever more the taller owners of the mirror will suffer hernias from constantly crouching to see themselves in it! Why are plumbers always short anyway? And you should always beware of shaking hands with a plumber, or even a gynaecologist, because you never know where they’ve been!
We all walked out through the kitchen door into the back. The view was spectacular. ‘Regardez,’ repeated Monsieur, evidently sure that this would be the only French word we were likely to understand. The view certainly was wonderful and a million miles away from the tightly-packed, graffiti-ridden English suburban views back home. We could see for miles, the view permeated here and there by densely-wooded copses, undulating steadily into the distance. Without actually expressing it, I had been searching all my life for complete privacy such as this, and now we seemed to have found it.
Him whose mind always turns to money took Monsieur to one side. ‘C’est combien?’ Wonderful how his French improves when the need arises.
‘Un cent et quarante-neuf milles euros.’
‘Uh. You take one hundred and forty….?’ hopefully.
‘Non!’ hands facing downwards, one moving forcefully over the other in the international sign language indicating disapproval.
We had often talked about the usually unknown reasons why people sell, so we asked the vendor our standard three questions: ‘Why are you selling, why are you selling, why are you selling?’
To which came the carefully-prepared response: ‘The land is now too large for us.’ (This all sounded eminently sensible, but we later discovered the vendor had bought a new plot of land in the village, double the size of this one!). This all goes to prove that when buying an established house, one never knows the real reason for the sale.
After a further few minutes of kicking our heels in frustration, the agent walked up to us, confirming that the owner definitely would not accept anything less than the asking price. What did we want to do?
There was no question that this was the only house we had seen that had even come close to ‘ticking all the boxes’. It was habitable without doing major structural repairs, had privacy, space for him indoors to crash and bang to his heart’s content, was within walking distance of the village with its Boulangerie (I could smell those warm croissants now), and was within our budget.
We shook hands all around.
It seemed that we had bought our dream house.
Let the future begin!
.........Don't miss the final episode next Sunday

How to buy a dream home in France with very little money

Part 2.
We pushed open the door and walked confidently in.
‘We have an appointment at 10 a.m.’
The phone jangled. ‘Excuse me a moment’. The moment lasted twenty minutes.
Why is it that staff always jump to answer the phone, at the expense of the people who have made the effort to appear in person. Just calm down, calm down and relax.
We walked over to look at some enlarged photos of some very impressive houses in the region. Unfortunately, on putting on our reading glasses, the small-print prices also looked very impressive. Way beyond our agreed budget.
He whispered ‘I thought you said houses in this region were supposed to be cheap’.
‘Shh, she’s coming back.’
She brushed a tendril of hair off her perspiring forehead and apologised for the delay. ‘Sorry about that. It gets pretty hectic in here, as you can see.’ She waved her hand airily around the office, where a harassed assistant was also answering phones ten to the dozen. ‘Now then, what exactly is your budget range?’ She obviously liked getting straight away down to the nitty-gritty.
‘Well, actually, we were rather hoping to find something in the hundred to two hundred thousand euros mark…’
‘Oh,’ followed by a short intake of breath, as she sat down at her desk and began rummaging in the stacks of folders lying haphazardly on her old wooden desk. ‘Well, we do have a range here somewhere. Let me see…..Ah yes, here it is. What I suggest is that you take this folder and go through it slowly over there…,’ pointing to a desk in a dark corner away from the more prestigious house photos we saw earlier.
Obediently, we did as we were told, skulking with some embarrassment over to the obviously lower-priced area of the office. We sat down heavily as the agent’s phone began jangling incessantly once again. We could hear her voice, suddenly transformed ‘Bonjour Monsieur Feret. Ça va? Ooh la la, vous avez choisi la maison grande à 800,000 euros? Bon, très bon!’
I could hear my other half’s teeth gnashing in snarling frustration.
‘Don’t worry,’ I whispered back. ‘I’m sure we’ll find something in here to suit us,’ glancing hopefully at the folder in front of us. I mean they must want to sell these or they wouldn’t have included them in their repertoire, would they?’
I could see a glazed look come into his eyes. We had less than a fortnight to find our house or we were heading for homelessness. The clock on our flat rental back home was counting down, and then we would be out on the streets. No. I was determined that it wouldn’t come to that. Surely one of these houses would suit us?
The agent put down the phone, stood up and hurried over to us.
‘Well, how are you two getting on? Found anything you like?’
I pointed out all the ones that were hovering around the one fifty thousand mark, or rather one fifty thousand euros. She smiled and said ‘Good. I’ll just get the car and we’ll go and take a look.’
We were flummoxed. We hadn’t realised that she herself would take us round every one of them right this minute. I hid my surprise, gathered my large bag and creaking husband and followed her smartly out of the shop and over the greasy cobbles to her car.
Overhead a few drops of fine rain had just started to fall, making our way even more slippery.
‘Probably the only rain all day,’ grumbled him indoors.
‘Stop being like Victor Meldrew,’ I hissed, as we rushed after her disappearing figure as she sharply turned a corner into another tiny alleyway. Looking up, it seemed as though the residents on either side could kiss or shake hands with each other, if they had a mind, so close were their leaning turret windows. Amazing.
‘Here we are,’ she called, as we carefully picked our way after her, trying to avoid the dog mess everywhere.
‘Damn, too late,’ said he, struggling to scrape his shoes on the crépi walls either side.
‘Don’t do that!’ Oh God, why are husbands like children sometimes?
And so began the journey from hell. The agent drove like a lunatic around the winding country roads, obviously keen to keep to her tight time schedule, with me feeling the onset of my usual nausea. I took several deep breaths and opened a window, only to let in a gust of cold, misty air making everyone inside cough. I closed it again and suffered in silence.
‘Ah, here we are,’ the agent said brightly.
We looked out. Was this the first property that looked so impressive in the photo? What had seemed like a place with lots of space turned out to be jammed in the middle of a courtyard. We knew as soon as we saw it that it wasn’t for us, but we dutifully walked around it. She soon saw, though, from our unspoken body language that it was time to move on to property two. This had plenty of space but was so ramshackle that it would take hundreds of thousands of pounds of renovation to bring up to standard. Our faces fell and we started to panic. And so the property tour continued, from one disaster after another, with the best one unfortunately having a stone tomb in the grounds at the front, complete with large cross and rosary beads to the fore. We couldn’t live with a dead body lying in our front garden and couldn’t face being reminded of our own mortality everytime we looked out each morning.
Eventually, after hours of looking, we returned dejectedly to the agency. ‘I don’t know what we’re going to do,’ I confided to the agent.
........To be continued next Sunday