Mortgage for overseas property: What you need to know
Getting ready to buy a property abroad? Read our guide on mortgage for overseas property, including the application process and costs involved.
The allure of France is as great as ever. Whether you’re after a beautiful, secluded countryside retreat or a pad in Paris, many people dream of owning or renting property in France.
But the process isn’t easy, and whether you’re buying, renting or selling, you’ll usually need the help of an estate agent.
This guide will get you started on the key question of finding a good estate agent in France. Read on to discover:
Throughout it all, the key question is how to make sure you’re getting value for money: either by finding the best property available within your budget, or by selling your place at the best possible price. But with a multi-currency account from Wise, you can also cut back on the international transfer fees that might just tip your whole budget over the edge. More on that later: for now, back to how to choose an estate agent.
Before you get started, a word.
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Now, back to what you came here to read.
You won’t be short of options when you begin your search for estate agents, or agents immobilières, in France. Even though some domestic sales in France are made without agents, foreign buyers almost always enlist the help of professionals. So there are not only plenty of estate agents, there are also plenty of those who are used to dealing with international clients – British ones especially.¹
Of course, though, the situation changes depending on where you’re looking. Even though some parts of the French countryside are popular expat destinations, their remoteness can mean there’s less choice when finding an agent. A big city like Paris, on the other hand, will be a very different experience, with plenty of agencies all around.
It’s true that nothing beats the personal touch of going into a local estate agent office in person, so you’ll need to plan a trip for fairly early in the process. The age-old method of pounding the pavement, and just wandering in to any estate agents that you like the look of, can still prove fruitful too.
However, the internet can be your friend, so long as you don’t commit yourself to the first page of Google results. Do some detailed, area-specific research, and always remember to check that the agents you find are professionally accredited. Estate agents in France must have a carte professionelle: don’t do business with one that doesn’t.
One possible exception to that is if you choose to do business with a “foreign agent” or agent commercial. Such an agent might represent an accredited professional agent, but not actually be one. Do make sure they’re representing a legitimate outfit, and certainly don’t part with money until you’ve seen proof of it.¹
If you’re finding properties in France via a UK-based agency, check what’s really going on: they may be an intermediary acting on behalf of a French outfit. They’ll probably take a commission if so: there may be extra fees involved.²
Online, the best estate agents or letting agents for you will probably depend upon which area you’re looking in. Green-Acres.fr is one site you can use to find estate agents by area.
Two more have the added advantage of being professional bodies for French immobiliers: search among their members online to find an agency with a professional affiliation.
You can also use any of the above links to look directly for property, or try sites like:
There are all sorts of fees that come up when buying or selling property in France, including property tax, and you may well be considering getting a mortgage. Don’t forget to check with your estate agent about fees before you get going with your property search or sale.
But what do estate agents charge? In France it can vary. In general, it’s worth talking about fees as early as possible in the process, so you know exactly what your prospective estate agent expects to charge you, and what else you’re likely to have to pay too.
Service | Fee |
---|---|
Estate agent commission | In France, this fee may be paid by either the buyer or the seller: it’s something to establish as early as possible in a negotiation. It could vary from around 5% to 10%, probably decreasing on higher-value properties.³ The phrase net vendeur on a property listing means that the agent’s fee is excluded¹; commission comprise (or C/C) |
Agent commission when renting | As with buying, the estate agent’s commission may be the renter or the landlord’s responsibility. Again, check this early in the process.⁵ |
Other costs when buying in France | Here are some of the other, most important fees that you’ll likely face when buying property in France:
|
The right estate agent for one person won’t necessarily be right for someone else: ultimately, it’s down not just to what you need, but also how you feel. There’s a lot of choice out there, so try and find an agent that you feel is a truly good fit for you.
If your French isn’t fluent, keep your eyes peeled for an agent with good English. This is a more straightforward option than relying on imperfect communication or talking only through a translator.
More generally, you should consider looking for an agent who has specific experience dealing with expats, as they will be more likely to understand your situation and be willing to work with you remotely. If you’re looking on the Côte d’Azur, you’ll find millions of English-speaking agents with expat clients; elsewhere, there’ll be fewer.
Use all the suggested sites above, and more, to draw up a shortlist. Then compare the estate agents you’ve listed. Look at online estate agent reviews and so on, but always with caution. Personal recommendations can be more thorough and you might consider them more reliable too: now is a great time to talk to anyone you know who’s bought property in France before.
Send any agent that looks good an introductory email – or perhaps even call them – and take it from there. Don’t forget to check they’re properly accredited. You’ll need to be prepared to go out to France to view places.
Here are a few pointers to bear in mind when you’re buying or selling in France.
It’s certainly worth knowing how to deal with estate agents, when buying or selling. Here are a few things it could be useful to ask them as soon as possible, to get a feeling for how they operate.
There’s one principal way to ensure that you’re dealing with a legitimate outfit: check that they’re accredited. In France they should all hold a carte professionelle: otherwise, they may well not be allowed to actually sell anything to you.
Membership of professional organisations like FNAIM and SNPI is also well worth looking out for.
Buying or selling a property abroad can be expensive, so you will want to make the most of your money - this is where Wise can help. Send money with low, transparent fees at the mid-market rate, and even open a borderless multi-currency account to hold, receive and spend money like a local to avoid international fees.
All in all, finding the right estate agent can be trying, but it certainly shouldn’t be as hard as finding the right house. But if you put the effort in at this early stage of the process, and make sure you have the best possible representation, then you can ensure the process is as smooth as it’s ever going to be.
Sources used:
1.https://www.justlanded.com/english/France/France-Guide/Property/Estate-Agents Estate agents for international clients
2.https://www.affidata.co.uk/sh/property-for-sale/english-speaking-estate-agents-france English speaking estate agents
3.https://www.attikainternational.com/how-to-buy/french-riviera-real-estate-agents.html How to buy in France
4.https://www.french-property.com/guides/france/sale/estate-agent/commission/ Estate agent commission fees when buying
5.https://www.french-property.com/guides/france/rent/cost Estate agent commission fees when renting
6.https://www.french-property.com/guides/france/purchase-real-estate/legal/fees/ Notaire fee
7.https://www.french-property.com/guides/france/purchase-real-estate/legal/fees/taxes/ Taxes to consider
8.https://www.french-property.com/guides/france/purchase-real-estate/legal/top-tips/ Negotiating commission fees
All sources checked 27 June 2019.
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