Thanks John, much appreciated. It's a very opaque market and the US is leaps and bounds ahead from a consumer standpoint. Any other questions please feel free !
This is the type of video that really helps. Thank you. Couple of questions not covered in your video or at least wasn’t clear to me. Who pays the agent’s commission. In US the seller and only the seller who pays the real estate commissions. The buyers agent and seller agent will share the commission paid for by the seller. Is it the same in France. You mentioned 1 1/2 to 2% for the “research work” or “ finders fee”. If the seller pays the commission to be shared by both agents what is “ research fees” who pays that. Could you explain?
Thanks! The seller’s agents commission (2-5%) is included in the list price, so the seller. The real difference between the US and France is that usually there is no buyer agent, most buyers are self represented. We (and some others) act as buyers agent (search fees), which is paid directly by the buyer, although sometimes we can share with sales agent so no extra for the buyer, but it’s a supplementary service. Hope that’s clear!
Yes annual, but they are very broad numbers. It varies on the size of the appartement, building and what services (elevator, concierge, parking, central building heat/air). Either way, always include them in your budgeting, plus for any potential building works.
I’m from Toronto thinking of buying a property in Paris . I used to live in france and still kept my french bank and french tel number. What are the rules in buying a property in france as a Canadian . Can I do the mortgage lending through a french bank ?
Hi, Yes you can get a mortgage through a French bank. You would be treated as a non-resident so would have more strict criteria than a French taxpayer.
Hello I am surprised that you can get a mortgage thru a French financial institution as a foreigner. My wife and I have been looking at buying a property in France but from our discussions with multiple experts, apparently it is not possible. Do you have any financial institution names to give us, that do mortgages for foreigners ?
