What are the costs to sell your property?
Selling your property in Paris or in France will have you paying all sorts of costs. For this real estate process, you, as the seller, will have to pay agency fees, notary fees, technical diagnostics, and more.
Agency Fees
Hiring a real estate agency to help you sell your property in Paris isn't actually mandatory. You can choose to sell the place all on your own. But with the help of an agency, however, you have better chances of getting a buyer as soon as possible. Not to mention get them to do all sorts of stuff to better market your property in Paris. And as for what you pay them, it's typically in France around 1% to 7% of the final price of the property and 4% to 5% average in Paris.
Technical Diagnostics
Before you put your property on sale, you'll also need to conduct a series of mandatory surveys in France, the Technical Diagnostics, that will determine whether it's ready to go on the market or not. For detached houses, there are 9 surveys. While for condominium units, there are 8 surveys.
Detached Houses
Noise Diagnosis
Condominium Unit
Mortgage Costs
As soon as you sell your main residence to someone else, your change of address can lead to an early repayment of your mortgage, which you can now pay with what the buyer paid you. The seller must then pay prepayment indemnities (IRAs).
However, the law provides for three conditions that exempt borrowers from paying IRAs:
Notary Fees
Notary fees in France correspond to a number of costs that you have to pay in legalizing the entire process. Contrary to its name, however, not all of these fees go to your notary. Most of the notary fees go to the State (i.e. 5.80% in transfer fees and almost 1% in registration fees, not to mention taxes) while only 1% to 2% goes to the actual notary.
Important Note: it is possible to lower notary fees.
State-Dated in Co-Ownership
When selling an apartment, a co-owner must approach their trustee so that they can provide a dated statement.
This document, given to the buyer before the signing of the authentic deed of sale, summarizes the essential financial information (i.e. amount of current expenses, sums due to the syndicate of co-ownership, unpaid co-ownership, etc.).
Decree No. 67-223 of 17 March 1967 required all the information be present in said dated statement
The rate of the state-dated is set by the syndic of co-ownership and it can easily cost around €200.00 to €300.00.
Hiring a real estate agency to help you sell your property in Paris isn't actually mandatory. You can choose to sell the place all on your own. But with the help of an agency, however, you have better chances of getting a buyer as soon as possible. Not to mention get them to do all sorts of stuff to better market your property in Paris. And as for what you pay them, it's typically in France around 1% to 7% of the final price of the property and 4% to 5% average in Paris.
Technical Diagnostics
Before you put your property on sale, you'll also need to conduct a series of mandatory surveys in France, the Technical Diagnostics, that will determine whether it's ready to go on the market or not. For detached houses, there are 9 surveys. While for condominium units, there are 8 surveys.
Detached Houses
- Energy performance diagnosis (DPE), except in the case of the sale of a home in the future state of completion (Véfa)
- Finding the risk of lead(CREP)
- The presence or absence of asbestos
- Indoor electricity installation (if the installation is more than 15 years old)
- Gas installation (if the installation is more than 15 years old)
- Sanitation facility condition
- Termite status
Noise Diagnosis
Condominium Unit
- Energy performance diagnosis (DPE), except in the case of the sale of a home in the future state of completion (Véfa)
- Finding the risk of lead(CREP)
- The presence or absence of asbestos
- Indoor electricity installation (if the installation is more than 15 years old)
- Gas installation (if the installation is more than 15 years old)
- Termite status
- State of risks and pollution (i.e. natural, mining, technological, seismic, radon, etc.)
- Noise Diagnosis
Mortgage Costs
As soon as you sell your main residence to someone else, your change of address can lead to an early repayment of your mortgage, which you can now pay with what the buyer paid you. The seller must then pay prepayment indemnities (IRAs).
However, the law provides for three conditions that exempt borrowers from paying IRAs:
- Professional transfer
- Death
- The forced cessation of professional activity (e.g. dismissal)
Notary Fees
Notary fees in France correspond to a number of costs that you have to pay in legalizing the entire process. Contrary to its name, however, not all of these fees go to your notary. Most of the notary fees go to the State (i.e. 5.80% in transfer fees and almost 1% in registration fees, not to mention taxes) while only 1% to 2% goes to the actual notary.
Important Note: it is possible to lower notary fees.
State-Dated in Co-Ownership
When selling an apartment, a co-owner must approach their trustee so that they can provide a dated statement.
This document, given to the buyer before the signing of the authentic deed of sale, summarizes the essential financial information (i.e. amount of current expenses, sums due to the syndicate of co-ownership, unpaid co-ownership, etc.).
Decree No. 67-223 of 17 March 1967 required all the information be present in said dated statement
The rate of the state-dated is set by the syndic of co-ownership and it can easily cost around €200.00 to €300.00.
Ce qu’il faut retenir :
Selling your apartment or house is to anticipate unavoidable costs related to the property. Agency fees, technical diagnostics, refund of a credit or taxes, these are costs that must be assumed by the seller or buyer.
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Posted on 01/12/2022 by
Andy LECUYER
