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The paperwork and costs for selling your French Riviera Property

If you are looking to sell your property on the French Riviera then it's best to use one agency who is connected to the Emulis system and to give them a sole agency mandate. This is undoubtedly the most effective way to get full coverage of your property. You can find out more about how agencies work in Nice and the French Riviera here

Once you contact us at Attika you will need to sign a mandate which is our contract allowing us to advertise your property at an agreed price. This has to be signed by everyone who owns the property, so if you bought your apartment with other members of your family, they will also have to sign the paperwork. This mandate details your full names, the address of the property and what is included in the sale (for instance you may wish to sell items of furniture, kitchen equipment etc) and this must all be noted.

PAPERWORK REQUIRED

There is quite a lot of paperwork that will be required once you find a buyer. Ideally you will start to get this together as soon as you decide to put your property on the market. However the minimum an agency requires is as follows:

Copy of your title deeds or the certificate of sale from when you purchased your property.

Copy of your last taxe fonciere and copy of your monthly charges from your syndic

The last 3 years meeting notes from the Annual General Meeting of your syndic. This will show any works that are voted in the building which may impact on the new owner.

Your diagnostics, mainly for the Carrez measurement (this will be in your title deed if you have not got the original certificate) and the DPE (energy certificate)

FURTHER PAPERWORK REQUIRED AT LEAST BY POINT OF SALE

New laws came into force in 2014 which require the following paperwork to be shown to the buyer in order for their 7 day withdrawal period can begin. The following you need to request from your syndic as soon as you decide to put it on the market. It can take a while to arrive so the sooner you request it, the better.

The Reglement de Copropriete (Rules of the building) that would have been handed to you upon the completion of your purchase. Your syndic can provide you with a copy. Ask your syndic for

la fiche synthétique de la copropriété
le règlement de copropriété et ses actes modificateurs
l’état descriptif de division et ses actes modificateurs

 

You should also copy the phrase below and ask your syndic to give you as much of this as possible

- les sommes restant éventuellement dues par le vendeur au syndicat des copropriétaires ainsi que celles qui seront dues par l’acquéreur
- l’état global des impayés de charges au sein du syndicat et de la dette vis-à-vis des fournisseurs

- lorsque le syndicat des copropriétaires dispose d’un fonds de travaux, le montant de la part du fonds de travaux rattachée au lot principal vendu et le montant de la dernière cotisation au fonds versée par le copropriétaire vendeur au titre de son lot

  • Le carnet d’entretien de l’immeuble
  • Une attestation comportant la mention de la superficie de la partie privative et de la surface habitable de ce lot ou de cette fraction de lot
  • Une notice d’information fixée par arrêté ministériel, relative aux droits et obligations des copropriétaires ainsi qu’au fonctionnement des instances du syndicat de copropriété
  • Le cas échéant, le diagnostic technique global et le plan pluriannuel de travaux

 

Ideally it would also be useful for us to have a copy of an Electricity, Water and phone bill as it makes it simpler to cancel your contracts for you once we have found you a buyer.

 

A copy of your diagnostics which are the equivalent to a survey in the UK.  You may not need all of the diagnostics if you are selling a modern villa (it depends on whether the property you are selling is located in a domain or not) but if you are selling an older style apartment you will need to have all the  diagnostics carried out. It's usually cheaper to have all the diagnostics done at once - they include Carrez measurements of the apartment, DPE (energy performance), lead, termite and asbestos checks as well as gas if necessary. The approximate prices for these are

One beds and studios 250 euros

2 - 4 beds 360 euros

Your Attika team member can put you in touch with diagnostic companies

 

Costs


The notaire's fees are NOT paid by the seller but by the buyer. As the seller your initial up-front costs will be for the diagnostics as noted above. Once the sale goes through you will have the agency commission to pay as well as various taxes to pay depending on whether the property was your principal fiscal residence and the number of years you have owned it.

If you are a French fiscal resident (ie you pay your taxes in France) and this is your main residence, you will have no Capital Gains tax to pay. However if you are not a French fiscal resident selling your main home, then you will have to pay Capital gains tax. This is quite a complicated calculation and you can find out a little more about French Capital Gains tax here or by contacting us or your notaire directly. You are free of CGT if you have owned the property for 30 years, otherwise there is a sliding scale whereby you start to see a reduction after 5 years of ownership.

French and most other European residents are taxed at 34.5% and the rate is just over 48% for non European residents.  The tax is payable on the difference between your purchase price and your sale price, and you can subtract agency commission, various works that you may have carried out on the property and also things that may be included in the sale such as furniture and certain fixtures and fittings.

As a non French resident you will also have a fiscal representation tax to pay. This is payable on all properties over 150.000 euros and is around 0.65% of the sale price.

If you had a mortgage on your property, don't forget to check whether you have to pay a penalty for early redemption on your property.

If you wish to sell your property in Nice and would like a valuation of your apartment of villa please contact us at www.attikainternational.com