If you are selling a
property in France,
this article, offers some tips on how to do it.
It has to be said
that now is not the easiest time to be selling your French home but if you do
want, or need, to sell it, it is definitely possible. It is true that there are
fewer foreigners with enough cash to splurge on a holiday home and the banks
have made it harder for first time buyers to get on the property ladder but
people are always downgrading, upgrading, moving country, changing job, having
families or retiring to somewhere new and that means a constant stream, if not
a deluge, of potential buyers.
If you want it to be
your house that stands out amongst the rest, here are my five top tips for
getting it sold.
1.
It’s all in the price
In the current
market you absolutely have to be realistic about the price you will get for
your house. If it is overpriced it simply will not sell. With so much
information about property in France
available online, buyers are very savvy, and particularly so in this
interminable “crise”. The
greatest fear for those investing in property is ending up with a house which
isn’t worth what they paid for it. In addition, the French banks, ever
cautious, are now even more careful which means that whereas 5 years ago it was
unheard of them to send out an expert to value a house, this is now becoming
more common. Buyers have choice at the moment and they are not going to choose
a house which is not competitively priced.
To make sure that
your house is at the right price, listen to your agent and if you trust them,
take their advice. So often my estate agent husband values a property only for
the vendors to ignore his advice, state their unrealistic asking price and
say “Well we’re not that bothered about selling so we’ll put it on at
that price and see if we get a buyer”. a) they won’t and b) why would they
think that my husband will be motivated to spend time, money and effort
marketing a house he doesn’t feel he has a realistic chance of selling?
Although universally
reviled, there are actually a fair few good agents out there and, believe it or
not, they do want to sell your house. That’s how they make their living. But
it’s a busy world and time is limited so marketing and viewings will be focused
on those houses that they think they stand a cat-in-hell’s chance of selling.
Often in these cases, any viewings of an overpriced house will merely serve to
show comparable properties at lower prices in a more favourable light and
clinch the sale of those.
If you own a house
in France,
you will know that there are a plethora of free magazines widely available full
of properties to tempt prospective buyers. When trying to assess the value of
your own property, you will doubtless have a flick through these and on
websites to compare yours to what else is on the market. Remember that only by
speaking to agents will you be able to get the idea of what properties are
actually selling for. It is very common to hear “But Monsieur Tout-le-Monde up
the road’s house is on the market for 5 million and his doesn’t even have a
pool”. The fact is Monsieur Tout-le-Monde hasn’t found a buyer yet and is very
unlikely to do so.
2. Prepare an
information pack for your agent
Get together as much
information as you possibly can to give to your agent. Their job is made much
easier if you provide the information in one go rather than piecemeal and they
will be better equipped to swiftly answer any questions posed by potential
buyers. Useful information includes a copy of the deeds (to prove you do
actually own the house (!) and to pre-empt any potential rights of way issues
), the amount of your property taxes (taxe foncière and taxe d’habitation),
floor plans if you have them and invoices for any work carried out by
professionals in the last 10 years (this should be under guarantee).
As agents in France may
cover large areas and may not be au fait with the peculiarities of all the
towns and villages in the area, it is also worth pointing out where the nearest
shops are, which schools are closest to the house, transport links and anything
particularly attractive about the village. For example, some villages in our
area have no shops but a bread van visits daily and this is useful to
know. All these titbits of information will help potential buyers build
up a picture of what it would be like to actually live in your house.
Take plenty of
photos of your house and garden during the summertime when it is looking its
best and offer these to your agent. There is nothing like a bit of sun to make
a house look appealing and on the flipside, a grey day with bare trees won’t do
it any favours.
3. Presentation is
key
It sounds obvious
but believe me, there are many vendors in France who don’t adhere to this
golden rule. That means that if you do, you already have a huge headstart in
attracting a buyer. Presenting an immaculate house applies both for when the
agent comes to take photos to use in the marketing of your property as well as
for each and every viewing. Granted, it is a total pain to keep your house
constantly showhome-tidy but it really is essential to present your house in
the best light possible.
Before you even put
the house on the market, sort out your storage and de-clutter the house. Plenty
of storage is a big bonus to homebuyers and lots of clutter is hugely
offputting. Do any small bits of DIY to fix minor problems which might put off
potential buyers. A bit of money spent here can really pay dividends in
securing a quick sale.
When buyers are
coming round, make sure the washing up is always done, surfaces in the kitchen
are tidy, rubbish is taken out and clothes are not strewn all over the
bedrooms. You want potential buyers to feel comfortable and at ease when they
are looking around your home, not as if they are being a pain in the neck. With
this in mind, ship out sulky teenagers, lock pets away so they can’t jump up
and make sure all areas of your house are accessible so it doesn’t look as if
you are hiding anything.
Be on hand to answer
any questions viewers may have but give them space to chat in private to the
agent, who will inevitably have some information about the customer’s
likes/dislikes which you’re not privy to. Above all, don’t appear too
desperate. The best policy is to leave most of the talking up to the agent and,
like a Victorian child, speak when spoken to! It is surprisingly common for
vendors to inadvertently put their foot in it and scupper a sale with an
off-hand comment.
4. Get the
obligatory reports done early
Structural surveys
in the UK sense of the word
are not the norm in France
although they can easily be arranged should you decide that you want one.
Instead, there is an ever-growing list of reports which the seller of a
property is legally obliged to have carried out including asbestos, lead,
termites and electrical compliance. In January 2011 it became a legal
requirement to display the energy efficiency rating of a house in any
advertising so you absolutely have to get that report done before putting the
house on the market.
The others can be
done once you have found a buyer but I would recommend getting them done early
to avoid any nasty surprises once you have someone ready to commit to a
purchase. If you know what you’re dealing with, you can either take remedial
action ahead of time, or at least be prepared for the issue to be a point of
negotiation in the deal. Plus, if your agent can show a potential buyer that
the house has a clean bill of health, it will immediately be more attractive that
the “what if..?” property down the road.
All the reports are
usually carried out by the same company – your agent should be able to
recommend one. Some of the reports are only valid for a limited time so check
that the company you choose will carry out the reports again free of charge if
they go out of date before you find a buyer. Most do.
5. Make your house
easy to view
House buyers often
have information overload when it comes to properties. If yours is not
available to view when they want to see it, they could well put it to the
bottom of the pile out of sight, and out of mind. Some potential purchasers may
be coming from abroad and be on a tight schedule with only a day or two
available for viewings.
In short, your house
needs to be viewable at a moment’s notice. If you’re not going to be there,
make sure you leave a key with someone who can be and tell your agent where it
is or even better, give your agent a key so they can do viewings whenever they
need to.
So there you have it
– a five point guide to getting that “Vendu” sign outside your French home. Bon
courage!