Property for Sale in Cordes sur Ciel
Visting Cordes to look at properties? Why not stay at La Bogne
Did you know that France is the second most popular destination with Britons buying property abroad? And according to a recent report by "Patrimoine" (a French heritage site) 6 out of 10 foreigners who buy French property are British.
Cordes sur Ciel was voted village of the year in France 2014. There is a very rich and vibrant community of expats living and buying property in Cordes Sur Ciel, come and join us!
It can be confusing with many people offering to help you buy your ideal home in France. As with all professions, you need to sort the good from the bad.
There is a wide array of people and companies offering to help source your dream home in France. Most are legitimate and will offer sound advice; however, others are unlicensed, inexperienced and could turn your dreams into a trap.
There are different types, all of them are governed by the same law which is the Loi Hoguet. This states that to run an estate agency you must have a carte professionnelle (to show that you are competent and experienced), a financial guarantee and full professional indemnity insurance.
The carte is to be renewed every 10 years while the financial guarantee and insurance must be renewed annually. If you don’t hold the carte you can either be a salaried employee in an estate agency or work as a self employed 'commercial agent'. If you choose the latter you will work under the carte of the agency but you will also need your own 'white card' attestation (signed by both the agency and the prefecture) as well as your own PI insurance.
First, and most common, are traditional estate agencies (agence immobilière), secondly are those people offering 'free' property finding and finally true 'buying agents' or 'property finders'.
Vendors will ask local agents for an estimation price tag and then will usually decide what price he wants. This is known as a 'net vendor' price. The agents must then get a mandate, in writing, from the owner which describes the house, net vendor price and the agency fees (usually 4%-8%).
This is why sometimes you can be walking down the street and see the exactly the same house for two separate prices!
A lot of agents belong to a national body, the FNAIM, and abide by their code. Many agents now have their own dedicated websites but you’d be surprised by the number of smaller agencies that don’t and still work in the traditional manner where they will not give up the exact location of a house. This makes property search time consuming and difficult.
Usually self employed agents commercials who work under the umbrella of an estate agency but who will also source different properties through other agents. They take a brief from the buyer and hunt around their region and will offer a wider variety of properties than a single estate agency who tend to offer only what they have 'on their books'.
They receive their commission from the estate agent who has been mandated to sell the property (at the price set by the vendor). This does, of course, still limit what they can show you. Obviously they can’t show you any 'private sales' (they need to earn their money somehow!) and they are limited to showing you properties where the other agent is willing and able to split commission with them.
There are many agents who simply get you on their books and stick your property on other property sites in the hope of making a sale. Make sure you specifically tell all agents NOT to advertise your house anywhere online apart from thier own and affiliate websites. (not on greenacres or leboncoin etc) You can do this yourself and save the agent's fee.
Buying agents or cordes sur ciel property finders
Having someone represent you comes at a cost (usually 2-3% of the full purchase price) but a good buying agent will usually save you far more. They scour the market including private sales (which make up around half of all houses bought and sold in France), sales through notaires and, of course, houses marketed by all the local agents.
Secondly they will use their local knowledge and experience to collect enough comparable evidence to ensure that you pay what the house is worth rather than what the vendor wants for it.
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