Before signing anything, you have to make sure of the viability of choosing such a property.
What is the background of the owner?
Are there any depts or mortgage costs related to the property?
Will you be able to rent it?
Is the property classified and protected as an historical building? If so, future renovation projects will be greatly limited.
If you plan to build on or renovate your property, you will need to be aware of all the local building rules and regulations.
Do you understand tax system?
Do you know about inheritance law?
What do you understand about capital gain tax?
Do you comprehend all the legal jargon within the papers and contracts you must sign?
Will all the paperwork be translated into English? Employing a buyer?s agent to assist you through this process would really help.
Before being able to sell the property, the seller must first pay for the completion of four main surveys:
"Plomb" survey: This is a survey regarding the level of lead in the property, assessing the possible toxic effect.
"Amiante" survey: To check if the property contains any traces of asbestos, a toxic substance now made illegal by European law.
"Careze" survey: All living surface areas must be checked and approved as meeting regulations as regards the size of the property, as shown on the house deeds and in reality.
"Insectes" survey: This survey assesses the condition of the property, ensuring that it is at no risk of insect infestation, etc, that would damage the residence.
The solicitor must ensure that all the above surveys have been completed, and that the property has met each of the regulation standards, as it will become their responsibility if anything adverse should happen, allowing you to cancel the sale until such a time as the seller will pay to resolve any problems that may have led to the failure to meet survey requirements.
