We are one of the leading Marseille real estate companies in the area. Our team of qualified experts are ready to help you find your next home. If we can help you answer questions about the Marseille real estate market, available homes for sale, rules & guidelines for expatriates (expats) on home buying, or what its like to live in Marseille, simply contact us and we’ll be happy to assist you with your questions.
The Marseille home buying process begins with searching for a home (condo, townhome, villa, apartment, flat, etc) that is suitable for your needs and budget. After finding the home, and coming to mutual agreement on terms and price with the seller, a document called a promesse de vente is signed. This legal document affirms that the seller must sell the property to the buyer. The buyer on the other hand, has 11 days within which to change his mind if he so chooses. The seller is required to provide an accurate floor plan of the apartment or house.
The home buying process then moves forward with notaires. Both the seller and the buyer have their own notaire and these notaires ensure that the real estate transaction is compliance legally.
We also recommend that you hire a avocat (or lawyer / attorney) that specializes in real estate that can provide additional guidance and insight to the customs and laws for France to which you may not be accustomed.
Real estate taxes are usually between 8% and 10% for all taxes/fees. However, if you buy an apartment that is under 5 years old, you may only pay 3% – 5% (or even less).
You must also determine your residency status. If France becomes your permanent full time residence, you then become a part of the French social system and are subject to taxes as any other citizen which can be substantial with it sometimes being more than 50%.
If you need financing for a mortgage to purchase your home, the transaction can become more challenging. A French Bank will provide a mortgage to expats provided you can show regular income to warrant the amount of your loan. French law requires that all of your real estate mortgage payments WORLD WIDE not total more than 30% of your total income. Additionally, you must also maintain mortgage insurance, and pay for a physical home inspection of the property for the bank’s benefit.
While having various rules and regulations to go by, the French home buying experience is not unpleasant provided you have experts providing guidance and input on the process to ensure that you are in compliance with the rules and regulations. Our team of real estate professionals are ready to help you with your home purchase. If we can help, contact us and we will respond promptly.