Tips For Buying Off-plan Property For Sale In France
Buying "Off-Plan" refers to buying a property for sale in France from a developer before it has been built
. This usually happens within an apartment building or a resort development, and it can be within a French city, on the coast, or at a popular skiing resort.An Off-Plan property doesnt always mean an empty lot where a housing development will one day appear; sometimes it includes developments that are partially or almost completely built.
France has an advanced legal system which has many safeguards against developments taking advantage of buyers. Although other countries such as Spain have had problems with off-plan developments, the legal process in France is much better at protecting you, the customer. Buying off-plan is not uncommon for the French, whether they are buying for their own home or for a holiday rental investment project. In France, buying off-plan is referred to as "Vente Sur Plan".
If you make a good investment, there is a strong possibility that the property for sale in France will enjoy a large capital gain, because prices on the entire development will generally move upwards as it is completed. However, it is still important to choose wisely when buying off-plan property.
Here are some tips for buying off-plan property for sale in France:
Before signing a contract, figure out what stage of planning the developer is in. If they are still lining up buyers so that the bank will fund them, they might not have even purchased the land for the proposed project yet. If they do own the land, find out if they have all of the planning permissions and approval in place. You might realize that the project is a long way from ever getting started, or might not even get started at all.
There is also the risk that the plans for the property for sale in France can change from the ones you originally agreed to. Ask the developer if you can see their final plans, which will have more information than the preliminary contract.
Do some research of your own on the developer. How long have they been in business? How many other developments have they built? If you can talk to other investors who have purchased property for sale in France from this developer, ask them if they are satisfied with their purchase. It is always important to know who you are doing business with when making such a large purchase.
If the developer asks you to pay a deposit before signing the contract, you should always refuse. There is a law that forbids paying a deposit on a property for sale in France before the "contrat de reservation" is signed. The developer is not allowed to use your deposit to fund the development, as it must be placed in a separate account. They will not be able to withdraw it until the sale is completed.
These are just a few important points to remember when buying off-plan property for sale in France.
by: James P Martin The Perfect Place To Buy Overproof Rum! Did You Know There Are A Range Of Items That Can Used As Branded Corporate Items? Cheerful Tour To India Dating Tips - Making A Excellent First Impression Beginners Guide To Beat Makers: Five Things To Remember When Buying Online Beat Makers Kids Wall Murals Will Stimulate Your Child's Brain How To Finance A Startup Freight Brokerage With Factoring Outsourcing- Theres Money To Be Saved For Every Type Of Company Legendary Balloon Rides by:Anita Lyon Beautiful Wedding Invitations Promise You Of A Unique Wedding Some About Of The Suzuki Gsx Series Motorcycle The Police Records Online Reasons To Take A Road Trip by:George Hutton