Take Heed of These 5 Things When Buying Property in France as a Foreigner

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With delightful sights and enticing cuisine, it's no wonder France is at the top of the list for many tourists. And not only tourists, people who are banking on profiting from these fascinations are snapping up properties fast too. France also boasts collections from masters of both modern and contemporary art.

However, if you're looking to buy a home in France as a foreign investor, don't be distracted by the sights. It's easy to be carried away by the beaches of Riveira, wandering through the battlefields of Normandy or viewing castles along the French countryside. You will need to focus your efforts on getting the deal done right. Let’s consider some stats on French property prices.

Facts about property prices in France

Prices are competitive and mortgage rates are currently low in France, according to Notaires de France. In the past year, over 900,000 properties have changed hands. Even though a surprisingly large number of these properties (90%) were bought by people looking to live in, rather than let. For investors, this means there hasn't been a property bubble and this might just be the right time to buy a house in France. Price is increasing steadily. Notaires de France estimated a year on year increase of 1.2% in property prices by August of this year and a jump of 4% in property prices by the end of the year.

What to know when buying property in France

Although the process of buying property in France is fairly straightforward, here are some things you need to know:

1. You're not required to hire a solicitor. As a general rule, buying property in France must proceed without an advocator or solicitor. It can't be delegated. So you have to travel and spend time and effort on acquiring the property.  Although property buying and land registration in France are secure, you need to have your wits about you.

2. You should learn French. If buying a house in France, you should know French or at least hire a translator. Trying to infer what the other person is saying will only give you a false sense of security. On the other hand, a knowledge of the language will bolster your confidence.

3. The notaire will not verify everything. The notaire may not be able to tell you if the property would give good ROI or what liens are currently on the property. There is room for you to do your own research about the property and about prices in that neighborhood. It's also advisable to get a specialist property lawyer.

4. Estate agents mostly act for the seller. Take care to read through any written offer. Make sure that the content of the offer are subject to a written sales and purchase offer. Also make sure you read through the content of the sales and purchase offer prepared by the agent to ensure equity. As with buying property anywhere, take your time before signing on the dotted line.

5. Local mortgages can be favorable. You might want to consider buying with a French mortgage as mortgages in France are relatively cheap. If you'll be seeking a mortgage, it's important you throw in a conditional clause in the sale contract.

In conclusion, having your own notaire is advisable. Don't expect the notaire working for both seller and buyer to seek your best interest.

 

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5 Invaluable Property Negotiation Tips For Overseas Real Estate

  • 25, February 2023

In the book Cross-cultural Business Negotiations by Donald W Hendon, there is this story about a US sales professional with years of negotiating prowess in the US, pulling down walls due to his aggressive negotiation skills. He was asked to negotiate a business deal in Japan and he failed because the same aggressive skills that brought home the bacon in the US was considered a sign of weakness and insincerity in Japan. So negotiating on foreign soil presents a little more challenge.

But whatever the reason for negotiating or the country in which you are negotiating, the important thing is looking beyond the surface and understanding the motivations of the other party. This might be hard to do when you have barriers like cultural, socio-economic, political and religious differences. But you can break through those walls and infer the motivations of the other party; study weak points, analyze your strong point and get a win-win result. Here are property negotiation tips to achieve these whether on home or foreign soil.

1.     Be respectful.

Being respectful and courteous tells the other party you’re calm and might signify you have the strong ground. This would make the negotiations an enjoyable ground for you. Moreover, everyone likes respectful people. Likability can work in your favor. But going in all firing with an aggressive attitude and you could be sending the wrong signals.

 

2.     Do not be afraid to ask for what you want.

Successful negotiators are assertive and challenge everything - they know everything is negotiable. Being assertive means asking for what you want and refusing to accept NO for an answer. (Check the difference between assertiveness and aggressiveness). However practicing being assertive will take care of your interests while maintaining respect for the interests of others. When you put your own interests in front of others and with a lack of respect, then you are negotiating aggressively.

 

3.      Listen.

The most popular word in the English language (or any other language for that matter) is "I". Therefore, it stands to reason that most people love to hear themselves speak. Communication is imperative in any negotiation. Negotiators are looking for that point that will unite the two sides and create a platform for a result. Good negotiators ask questions and then listen. The other party will tell you everything you need to know - all you have to do is listen. Follow rule 90/10 - listen 90% of the time, speak 10% of the time. Make a lot of open questions sit back, relax and listen and you will be amazed at what you hear.

 

4.     Be Prepared.

It’s not a good strategy when you have to sit down at the negotiating table and think "I wish I'd known that" or "If I just found out before leaving the office. Know whatever there is about the house, the neighborhood and the state before getting to the negotiating table.

 

 

5.     Always be willing to walk.

Never negotiate without options. If you rely too much on the positive outcome of a negotiation, you lose your ability to say NO. When you say to yourself: "I will walk if I cannot secure a negotiation that is satisfactory," the other side perceives that you mean business. Their resolution will force them to make concessions.

Doing your homework is vital to successful negotiation. You cannot make accurate decisions without understanding both sides of the process. The more information you have about the people you are trading with, the stronger your negotiating power.

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Buying a Property Abroad Tips for Investors Entering the Foreign Property Market for the First Time

  • 01, June 2023

It's easy to see why many people dream of buying a property abroad. You can retire on a sea front property or a beach house on one of the popular European costs. Some people have a lifetime dream of living in an alluring resort villa abroad.

As a traveler, it's easy to fall in love with a particular place so much that you develop an ambition to buy a house or an apartment there. If your job requires travelling a lot and you have the means and the courage to buy a property in one of the cities you frequent, why not? This would be a home you can return to on your next business trip.

You can also make a living off renting out foreign property. If you have an investment unit in a tourist location, you'll be getting big returns. This becomes more profitable as currency exchange rates tip in your favor. Exploring foreign housing opportunities is good but here are some things to consider if you're going in for the first time.

Factors You Need To Consider When Buying a Property abroad

1. Purpose of Purchase and exit strategy.

Why are you buying property abroad? Whether you're buying to live in it, for future retirement, for a family member who might be living or working there, perhaps to rent out or to resell at a higher rate, going in with a clear purpose will give you direction and keep things in perspective.

Having an exit strategy is also important. If things don't go as planned, what are the prospects of selling? Knowing your exit strategy before you make a purchase is key. You need to check the attractiveness of the location and the expected demand for housing as well as any renting or selling restriction on foreign property.

2. Growth prospects of the location's economy

You'll want to purchase a house that is situated where there are flourishing businesses or there are forthcoming growth potentials.

3. Land Regulations.

Unlike the purchase of local property, buying a house abroad is not so simple. This is because the laws of foreign ownership differ from country to country. Foreign buyers tend to have more hoops to jump through the purchase of land and face a more complicated buying process.

 

 

4. Potential Property Performance.

Any person buying a property abroad expects to earn from their investment. Before signing any agreement, be sure to ask for evidence to substantiate the projected returns, either through supporting investment reports or external surveys from credible sources.

Tips for New Foreign Property Buyers

1. Thoroughly research the market.

Although global trends in property prices occur, real estate markets in different countries will likely go through separate cycles of rise and falls. If real estate values ??are increasing in London, that doesn’t mean that they are also increasing in Italy or Spain. For those who buy to invest, it is important to pay attention to these trends - the ideal is to buy near the bottom and sell close to the top of a cycle.

2. Use a real estate agent.

Buying directly from an owner can sometimes be a big deal. However, if you are not familiar with the foreign real estate market or struggle with the local language, buying through a real estate agent or a reputable real estate developer can provide a useful guide and help you avoid a number of pitfalls.

3. Have your documents translated.

Before signing any documents related to a potential purchase, make sure that you have translated them professionally. It is essential that you understand any document you will be signing.

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20 Highly Effective Real Estate Advertising Slogans to Get Better Results

  • 14, September 2023

A memorable real estate slogan can keep you top on the minds of prospects. Your slogan defines your business, forms an element of all your marketing materials and can be what people associate with you. For Scott Geller, a RE/MAX realtor in Jamison, Pa, with the slogan "Scott Geller, the home seller",  some people probably think his slogan is his real full name. The name and occupation awareness brought him so much business that after a while, he didn't need to advertise to the general public, he had enough repeat customers and referrals.

 

A clever, memorable slogan forms part of your identity. While a good slogan can transform your business; a bad one can harm your business and reputation. Hence you should put more effort into developing the right slogan for your real estate business. Here are a few things good real estate slogans can do for your business.

 

1. Help you appeal to customer emotions

2. Highlights your customer service or care.

3. Reflects your business's personality and character.

4. It is memorable; stays long in the mind of prospects.

Let's look at twenty great real estate slogans and some reasons why they are effective.

 

20 EFFECTIVE REAL ESTATE SLOGANS

 

One important thing slogans and taglines do is helping to distinguish you from the competition. According to Dictionary.com, a slogan is a distinctive cry that separates you from everything else. So, the most important thing you want to maintain is the individuality of your slogan. Here are 20 real estate slogans that work. You can put your creative gear in motion and use these examples to craft something effective for your real estate business.

 

1. Sell for More. Buy for less.

2. A Track record that speaks for itself.

3. The Realtor for You.

4. Turning Dreams into Reality

5. Doing Everything but the packing

6. Your Dream Home awaits.

7. Helping San Diego find where to live.

8. Experts in the local market.

9. Your concern is my priority

10. The agent that works harder after the closing papers are signed.

11. A tradition of (excellence, trust, service).

12. A cut above the rest.

13. Helping New Yorkers move since 1983.

14. I'm never too busy for your referrals.

15. Going above and beyond

16. Beautiful L.A homes

17. Helping clients get more home for less money

18. Beautiful places to live.

19. Helping you close for less.

20. Turning transactions into relationships.

 

What these slogans have in common are that:

1. They focus on the client. Your prospects do not care about you or your business. They want to know how you can help them. Having a real estate slogan that clearly states how you can help them gets you points. Keep your slogans around your clients and you'll keep them around longer.

2. Non-generic. Although you should look around and examine trends in your market and incorporate these in your real estate marketing, don't forget to differentiate yourself from the crowd. Is your slogan helping you stand out?

3. Memorable. Effective slogans have a musical memorability around them. Quality slogans are short phrases that are easily remembered.

Having a high quality real estate slogan will keep you in the minds of clients for a long time.

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