BUYING A LUXURY FRENCH RIVIERA PROPERTY

HOMEHUNTS, the luxury property search specialists for France give an introduction and information on buying a property in France and the process and legal terms involved.

Much information is readily available from magazines and internet websites advertising luxury properties for sale in France; it is very easy to get an idea of what type of luxury property is available and at what cost before you actually start your search. Think carefully about the location and type of property. Take into consideration whether you plan for it to be your main residence, second home, holiday home to be let out on occasion, or a property to be let as an investment for the future. Make a list of the important elements. The purchase price, the overall size and number of rooms, is a cave (cellar) or garage essential? Would you prefer a garden, terrace or balcony? These considerations will keep you on the right track to find your ideal property.

Once you have found the luxury property you wish to buy, negotiations will start to secure the property at a price agreed by you and the seller. When your offer has been accepted by the seller, you will be required to sign a sales contract, the Compromis de vente (sometimes called the Promesse de vente). The notaire or agent can draft the Compromis de Vente (preliminary sales contract) which will be written in French but you may have an English translation.

The Notaire:

The notaire is a public official and given the title of Maitre. The notaire is highly qualified in the French legal system and is able to advise about French property, family and succession, and corporate laws. Empowered by the government to legalise property purchase transactions (which cannot be enforced by any other means) he/she is a Public Official and who provides security to the contracts he supervises and is liable for his professional acts. A notaire is responsible for the conveyance, preparing the various documents and confirming the seller’s title to the property, checking that there are no other mortgages on the property etc. The notaire also has indemnity assurance, which provides a financial guarantee to the buyer. The purchaser is free to choose their own notaire, but can use the same notaire as the vendor as notaire fees are fixed and include the French equivalent of stamp duty. These usually range somewhere between 6% and 8% of the purchase price of the property. As these are fixed by law (much like stamp duty in the UK) it does not matter which notary you appoint as the price will be the same. Using two different notaires will not increase the total fees; the fees are split between the two notaires.

COMPROMIS DE VENTE

The Compromis de Vente is a legal contract; you will go through it together with your notaire who will make sure that you are happy with all the details and that the conditions are correct. Whoever is named as the purchaser(s) and if you are intending to use mortgage funds, the same name(s) must appear on your mortgage application.

In this preliminary sales contract details such as:

• Details and identities of the seller and yourself (the purchaser) • A full description of the property • The surface area of the property and land • The purchase price, the breakdown of fees and who will pay each fee • Details of the notaire and sales agent • Details of any fixtures and fittings included in the sale~ • Results of reports on asbestos, lead and termites • Details of your mortgage, the date of when you should have your mortgage offer and the date of completion • Any let-out clauses (clauses suspensives) and the penalties that will be incurred by you or the vendor if completion does not take place For you, the purchaser, the clauses suspensives protect the deposit you gave to the notaire or agent as part of your agreement to purchase the property. The most usual is a clause stating that your agreement to purchase is subject to you obtaining mortgage finance.

Other clauses can be inserted, such as the vendor having to carry out necessary repairs or subject to the dimensions of the property corresponding to what is detailed in the Compromis de Vente, and this is where expert legal advice is useful in the negotiation of these clauses.

Once you sign the Compromis de Vente you will be required to pay your deposit (normally 10%) to the notaire which remains in an Escrow account until completition. Once you have signed the Compromis de Vente, the clock starts ticking. There is now a set date by when you should complete on the purchase. You are given a 7 day cooling off to retract from the purchase.

A Survey

Unlike in England the French do not tend to have surveys done to their houses and a French chartered surveyor does not exist. However there are a number of British chartered surveyors based in France and they can do a variety of services from a small survey to a full structural. If anything major comes to light then you can sometimes use this to re-negotiate the price agreed on the property

After the Compromis is signed.

The Notaire will now carry out his required searches and conveyancing checking records and documentation concerning the property. The buyer needs certain certificates from the notaire showing that surveys have been carried out to verify any existence of Lead, Asbestos or termites. It is important to remember he/she is totally impartial and works for the French legal system, and will be meticulous to ensure that the sale conforms to French law. This part of the process could take up to three months and in the compromise there will be a date set as the guideline for the final signing and completion. It is therefore important to keep in touch with your notaire to find out how the process is going so you have an exact idea of the completition date.

To complete……

Once the mortgage offer is received and the notaire has carried out the legal aspects of the sale a mutual time and date for completion will be arranged. It is your responsibility to instruct the notaire to request the mortgage funds from the lender.

Once you know the date you will be completing on your property purchase you will need to make sure your French bank account is open. Funds must be transferred into it in enough time for the completion date and the buildings insurance must be valid from the date of completion. You will need to provide details of the insurance policy at the notaires office.

The final deed of sale which is signed on completion is known as the Acte de Vente (projet d’acte). It will contain much of the same information as in the original Compromis de Vente, but check it through carefully; usually a translator will be requested for you if your French is not fluent. It will state the date that you may move into the property. You will be asked to produce your birth certificate(s) and passport(s) together with marriage certificate/divorce decree if applicable. If you think you may be unable to attend the meeting to sign the Acte de Vente (final deed of sale) you can give a trusted person or friend a power of attorney (procuration) which authorizes them to sign on your behalf.

The Acte de Vente is signed by you, the seller and one notaire. If both you and the seller have different notaires, only one needs to witness the Acte de Vente. Once the Acte de Vente has been signed and witnessed, the notaire has to pay all the taxes, settle all the accounts of the purchase/sale and register the deeds and mortgage. A few months later you will receive a certificate/document informing you that the title has been registered. The original title deed is kept by the notaire, but he is able to make authorized copies. Also he will give you a one sheet document called an ‘attestation’ which proves you are now the legal owner which is very useful in France and maybe asked for on occasions.

The French Buying Process is extremely well structured and the buyer is very much protected – careful guidance and commitment by dedicated property search experts such as Homehunts will ensure that every step of the process is fully explained to you. For anymore questions on this or to talk to someone about the type of luxury property you are looking for in France: contact info@home-hunts.com

The French Riviera is one of the worlds most sought after destinations. French Riviera property is owned by people from all over the world who are drawn to the area due to the weather, location, stunning scenery, laid back lifestyle and amazing food.

Here you will find Homehunts current top 5 French Riviera properties for sale between 1 and 2 million Euros.

1 - Beautiful villa for sale in Valbonne

2 - Villa with seaview near Mougins

3 - Penthouse apartment in Cannes with Jacuzzi and terrace

4 - Stunning villa next to a golf course in Opio

5 - Cap d`ail Villa next door to monaco

The Luxury property market in France has always been busy, the South of France particularly has always attracted buyers from all over the world.

Following the worldwide crisis, the market has levelled out over the past few months and now really is a good time to buy. There are some bargains to be found which means that your dream of becoming the owner a luxury French property is within your grasp. France is such a varied place in terms of culture, geography, climate and so on that most people are bound to find something that suits their needs.

Property in the Dordogne has always been very popular with overseas buyers expecially the British but many nationalities have a keen interest in property for sale in the Dordogne due to the relaxed way of like and the breathtaking scenery and Chateaux in South West France.

If you are searching for the Mediterranean climate then a Languedoc property could be for you as the area boasts more than 300 days of sunshine throughout the year.

If a more relaxed pace of life is what you are looking for then a Provence property could be right up your street. With a wonderful laid back atmosphere, breathtaking scenery, friendly locals and the national sport of Pétanque being one of the most popular past times in Provence it is the perfect place to unwind and sample the local delicacies.

On the other extreme is St Tropez with its beautiful people and luxury villas. If high-end luxury is what you’re looking for ( and some celebrity spotting)then St Tropez is definitely worth a visit. St. Tropez property is sought after by clients from all over the world. During the summer months, this quiet little fishing village transforms into one of the (if not THE) worlds most glamourous destinations (as well as some of its equally sought after neighbours such as Cannes, Antibes and Nice). French Riviera property is popular with international buyers and has been for centuries. As well as luxury property for sale in St. Tropez, there is also a great selection of luxury properties for sale on the French Riviera to suit everyones taste and budget.

Have a look at our website for a great selection of property for sale

Ellisium partners - French Riviera

Ellisium Partners, the Luxury Home Alliance today launched on the French Riviera. Ellisium Partners is an alliance of English speaking companies, all working within the luxury home market and will offer clients a complete range of products and services from property search to garden design. Ellisium Partners will guarantee every client excellence in service and product.

The date for the launch has not surprisingly, been chosen to coincide with MIPIM in Cannes, where the world’s property professionals are meeting. The French Riviera has long been a favourite with international property buyers and Ellisium Partners are very much part of the international property market in the region.

Each member company of Ellisium Partners has demonstrated their commitment to offering their clients the highest levels of customer service and in signing the Ellisium Partner Pledge each member guarantees to put their clients at the heart of their business.

Ellisium Partners offer clients the following services and products:-

Property Search Property Finance and Mortgages Financial Planning Legal Advice Tax and Inheritance Planning Currency Transfers Architect Plans New Build Project management Security and Alarm Installations Home Technology and Network Installations Telephone and Communications Systems Home Audio Visual Systems. Home Automation and lighting Systems Interior Design Garden Design and Maintenance Pool Design and Construction Property Management Property Rentals Insurance

Maria McLean, Director of Ellisium Partners says ‘This is a new and exciting alliance for all our member companies. We have all been living and working on the French Riviera for several years and we recognise that in working together we can build a strong brand and can offer our clients a complete service for their luxury home in the region. Client service is at the heart of everything we do and I am delighted to be able to work with such a like minded group of companies’.

Before you think about buying a Provence property you should try to learn as much as you can about the area.

Provence is situated in the South East of France, bordering Italy. Provence is made up of five departments; The Var, Vaucluse, Bouches-du-Rhone, Alpes-de-Haute-Provence and Alpes-Maritimes. Each of the areas has its own appeal and you should consider each when looking to buy a Provence property.

The Var is known for its main port of Toulon and its many seaside resorts including the world famous Saint Tropez. The department is also well known for its beautiful hilltop villages and towns in the countryside such as Fayence, Lorgues, Cotignac, Bargemon and Draguignan. There isa wide range of Provence property available to buy in the seaside resorts and throughout the department.

The Vaucluse has a landmass of just over 3,500 kilometres and is made up of mainly mountainous regions. The main town in Vaucluse is Avignon but another very famous area in the Vaucluse is the Luberon.

The Bouches-du-Rhone is the largest department in Provence. There are a number of large lakes and rivers flowing through the department and the main cities here are Marseille and Aix en Provence.

Alpes-de-Haute-Provence is a mountainous region in the lower the Alps. This beautiful are is sparsely populated so if a quiet retreat with easy access to the beaches on the Mediterranean is what you are looking for from your Provence property then this could be the department for you.

Finally Alpes-Maritimes is home to the famous French Riviera or Cote d`Azur consisting of towns such as Nice, Antibes and Cannes. The area is known around the globe for its luxury beaches and properties.

French Riviera property for sale - CANNES

One of the most stunning views of the bay of Cannes comes with this unique property located in the most exclusive neighbourhood in the Cannes hills. This villa for sale on the French riviera offers around 1000m2 of living space and grounds of approximately 4000m2.

If you are looking for a property for sale in Cannes which is unique then this could be the luxury french property for you.

VIEW THE DETAILS OF THIS PROPERTY HERE: PROPERTY FOR SALE IN CANNES

Monaco, Cannes, St Tropez; there are no better playgrounds for the rich and famous than these jewels in the crown of the Cote D’Azur. But how much do we really know about these places? With a choice of exquisite apartments in Monaco, luxury homes in Cannes and villas for sale in St Tropez, we chat to the property consultants from Home Hunts working in the area to decide where Brits might buy.

Monaco’s notoriety as a tax haven has made the British elite some of the major players within this rich and cultural principality. Regarded as one of the safest travel destinations in the world (with a ratio of one policeman to every 100 residents), Monaco’s insistence on tracing a person’s wealth back to legitimate origins has made the British that are wealthy enough to live there, favourites amongst the banks and property markets.

You need to be wealthy when buying a Monaco property; a two bedroom apartment in Monaco can cost anything from around 3 million euros to 33 million Euros, depending on size, area and of course, the all important view . However, once installed, there are benefits of being here. Apart from the tax breaks, the luxury lifestyle that this money affords means that people in Monaco are amongst the happiest and healthiest in the world, with n average life expectancy of a fraction off 80 years, and there can be no doubt that the first class cuisine at the luxury restaurants contribute to that longevity.

The breathtaking journey along the warm and varied Riviera coastline from Monaco brings you to Cannes. The bay is beautiful, with hills that provide a shelter against winds, the Frejus promontory overlooking the beach, and the two Isles of Lerins hugging and protecting the coast. Cannes suits a different type of property buyer, and is mainly recognized today for the International Film Festival. An event not to be missed if you are anyone of note within the film and entertainment industry, making property for sale in Cannes very sought after. The lure of the famous faces, (many owning apartments or villas in Cannes ) and luxury living is too much to resist for most who can afford it, and the summer in Cannes is packed full of holidaymakers wanting to sample a taste of the movie-set glitz, the richer of whom often end up buying properties in Cannes.

As we move further westward along the coast we come to St Tropez. In the fifties, this charming little port became a favourite with the world’s artistic jet set, who started buying property in St Tropez. In the beginning, there was Pablo Picasso and Brigitte Bardot, now there’s P Diddy and Kate Moss; all drawn by the glorious weather and tranquil blue waters of the bay. The port is now filled with the grand luxury yachts of the rich and famous, making the summer months an idyllic time to sit in a café and watch the world go by.

For people looking for private property for sale, St Tropez has few equals. The true enchantment of the place takes hold in the less busy periods, with temperatures that allow you to enjoy the beach all year long and an “ambiance” that doesn’t leave when the bulk of the tourists do. The off season is a great time to own a property in St Tropez with more opportunity to enjoy the charming medieval architecture that dominates the old part of the town and attractions such as Place aux Herbes, the bustling and lively square at the centre of the town. There are regular markets and the converted chapel that is now the Musee de L’annonciade is the perfect place to enjoy peace of mind, and has a collection of paintings boasting Derain and Matisse. St Tropez is proven to successfully combine the jet set lifestyle with the charm of the area, illustrated well at the Place de Lices, where the stars with St Tropez properties, can be seen playing boules alongside the local faces.

Lavish boutiques, splendid boats, and luxury villas complimented by the finest food and natural beauty so great, that the Cote d’Azur is regarded in local legend as part of the paradise created in the story of creation. If these are the sorts of delights you enjoy, Monaco and the towns along the Cote d’Azur such as Cannes and St Tropez are going to be for you. Make an appointment to see Tim Swannie or one of the Home Hunts team, who offer a property search service for French property for sale on the Cote D’Azur, South of France.

Home Hunts consultants would be happy to send you information about properties in Monaco, Cannes, and St Tropez, and can organise holiday property visits for you on the Cote d’Azur. See their website http://www.home-hunts.com/

Wonderful video footage of the French Riviera in the 1930`s

http://www.youtube.com/watch?v=R1n--viKx5w

This video is absolutely charming and really gives you a flavour of the Riviera in yesteryear. One of the most amazing things is to see how little the French Riviera and Monaco have actually changed in all of these years.

Of course, there are more properties on the French Riviera now compared to the 1930`s but the difference is not so apparent. The coastline remains as beautiful today as it ever was and really needs to be seen to appreciate its beauty.

This video travels up the coast and takes in towns such as Cannes, Antibes, Nice, Saint Jean Cap Ferrat and Monaco

Have a look at the video, I`m sure will agree, it is 20 minutes, very well spent!!!

Why invest in property in Cannes?

The obvious answer to the above question is 'pleasure'. Cannes is superb little town, blessed with beautiful beaches, stunning scenery, excellent restaurants, and wonderful weather. Add to this the small matter of an International Film Festival, outstanding shopping and a buzzing night-life and it is easy to see why so many tourists flock to Cannes each and every year.

Given its glamorous reputation you could be forgiven for thinking that property investment in Cannes was the preserve of those with more money than sense. While property prices in Cannes are high relative to the rest of France, they are in fact relatively low when compared to capital cities such as London, and if you do posses the capital to buy into Cannes real estate, you will discover that rather than being an expensive luxury your outlay does is in fact represent a shrewd investment.

The reason for property investment in Cannes being so lucrative is two-fold. Demand for properties in Cannes is extremely high, while supply is extremely limited with the result being that Cannes properties tend to greatly appreciate in value. Given that French planning restrictions, designed to prevent overdevelopment, are extremely stringent, this is a trend that is likely to continue in the foreseeable future.

The second reason for property investment in Cannes being so lucrative is that potential rental yields are extremely high. For the past three years, Cannes has had an average of 9.4 million visitors per year and given the fact that the town has so many annual events it is relatively protected from the kind of fluctuations that can negatively affect less diversified resorts. Furthermore, one in five visitors to Cannes are business people attending the many annual conferences and events. Like the tourists these people need accommodation, but tend to have far greater budgets at their disposal.

Cannes is also extremely well connected; it has its own airport (catering for private aircraft) at Mandelieu, and is only a 35 minute drive from Nice Côte d'Azur Airport. As such Cannes is within 3 hours travel of most European capitals, including Berlin and London

Searching for property for sale in Cannes (France)

Before choosing which area you want to search for properties for sale in Cannes, you must first decide whether you want your new home to be exclusively for the use of your family and friends, or whether you plan to make use of your property's potentially high rental yield.

If you are simply looking for private holiday apartments for sale in Cannes, then you would be advised to concentrate your search on the following areas, 'La Californie', 'La Basse Californie', 'Super Cannes' and 'Le Cannet'. These are all very attractive areas within easy walking distance of the town centre and the beaches. Most residences in this area will have a balcony or terrace, and many will have access to a communal swimming pool.

If you are looking for a Cannes apartments for sale, with a view to letting it out on a seasonal basis, then you should concentrate your search on 'Palm Beach', 'Le Suquet', and 'La Banane'. These areas are all located within a short walking distance of the 'Palais de Festivals' and so are particularly attractive to business clients who wish to rent luxury property in Cannes. Properties in this area tend to be smaller and more expensive, and there is less chance of finding accommodation with a balcony, while swimming pools are even scarcer.

If you are looking for a Cannes villa for sale you should concentrate your search on 'La Californie', 'La Basse Califonie', 'Super Cannes' and 'Le Cannet'. These are all extremely attractive areas and if you are looking for a villa with a super sea view in Cannes, then these areas are your best bets. You should note however, that these are amongst the most expensive properties for sale in Cannes, and indeed the South of France. On the positive side, they also command extremely lucrative rental prices during the long summers.

Luxury French Property specialist HOMEHUNTS have a portfolio of luxury french property and properties in France.