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104 LEGGETTFRANCE.COM

NEWBUILD LEGGETT MAGAZINE

Heather Byrne is the Legge“ expert in buying property off-plan;

here, she shares her 8 top tips with those planning to buy in the new

build sector for the first time.

in France, make sure you do your

research carefully to ensure the

management company, responsible

for services at the development, are

well established. Do they already

have a database of potential tenants

to sustain your investment? It is

very important to obtain as much

information as possible at the outset.

Your estate agent is perfectly placed

to chat through the pros and cons of

investing in leaseback schemes.

✏TOP TIP N° 4

Look at the developers past

work

It's always good to see a finished

development if you can, but if

that's not possible, don't worry, the

laws and regulations surrounding

the newbuild sector are extremely

rigorous.

✏TOP TIP N° 5

Financial resources

Ensure in advance that you have

finances in place for purchasing a

new build property in France. Your

Leggett agent will recommend a

trusted currency transfer company,

who will ensure you obtain the very

best rate of exchange on the day.

Once you find your dream home,

you can put down an option to buy,

straight away - no delays, no lost

opportunities.

You can purchase an off-plan

property, also referred to in France

as V.E.F.A (Vente en l'État Futur

d'Achèvement) through an estate

agent or a developer. Either will

supply a time frame for completion

of your property as well as details of

the financial instalments payable,

as work progresses. You are not in

any way involved in the construction

process, this is the developer's job.

✏TOP TIP N° 1

An agency will make your life

easier

It is recommended that you

use an agency, such as Leggett

Immobilier, to guide you expertly

and impartially through the whole

buying process. Although it is a very

exciting purchase, it can be a little

overwhelming when buying

in another country. Your Leggett

agent will be by your side to ensure

nothing is overlooked.

✏TOP TIP N° 2

… It won't cost you any more

You will pay the exact same price for

a property, whether you buy direct

from the developer, or through your

local, friendly Estate Agency..

✏TOP TIP N° 3

Do your research

If you are looking to invest in a

Leaseback property (Buy-to-Let),

which is a very popular scheme

BUYING OFF PLAN:

TOP TIPS FOR A

SMOOTH PURCHASE

✏TOP TIP N° 6

A deposit is necessary

The general procedure for buying

off plan in France is to pay a 5%

refundable deposit, which reserves

your chosen property, whilst the

preliminary contract is prepared.

After the signing, there is a statutory

cooling off period. Regular payments

are then made when certain stages

are complete.

✏TOP TIP N° 7

Ask your Notaire

It's a good idea to ask a Notaire to

check over the contract and confirm

that all the usual guarantees are in

place, to ensure your investment is

well protected.

✏TOP TIP N° 8

Add a personal touch

Take time to study the plans. Not

only is it all part of the fun, but it

will also allow you to discuss any

available changes you'd like to make

to the property. Please note that it is

rare that a developer will allow you

to make changes to the exterior of

the property, but changing or moving

interior walls, is occasionally possible if you

get in early. And remember,

if you would like to change the finish

of certain rooms, you can ask the

developer for further options.

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