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Selling Your Home on Your Own in France
-= An Overview =-
Why sell your property on your own?
Selling your property is easier than you may think; however, it will require some work on your part.
You will have to do things that an estate agent might normally do. This overview is provided by
All French Services to help you in this adventure! We will make the process of selling your
French property through our advertising portal as effortless as possible, while helping you save thousands
of Euros by not having to pay a 5% or 6% commission. For example,
if your French home sells for €200,000, you'd save €10,000 to €12,000 in commissions
and agency fees. Let's face it, either the agency adds their fees to your price, forcing the buyer to pay a
higher price for the property, or you, the "seller", will have to reduce your selling price accordingly.
Let's not forget that in France, the buyer must also pay for the notary fees and taxes which can amount
to a further 6% (€12,000 based on a €200,000 sale price). Exact amounts may vary, but you get
the idea. That's a lot of money in your pocket!
Another advantage to selling your property on your own is that since you are relieved of paying
the commissions or agency fees, you can afford to price your property more aggressively.
Obviously, the lower the price, the more likely
it will attract a buyer and the quicker you will make the sale.
And finally, by listing your property on All French Services, you can avoid the high advertising
costs that you would have to pay in other media. Make the power of the internet work for you as we
take care of making sure that a far ranging audience will see your listing.
Despite what an agent may say, selling a house is not difficult.
They know that and soon you will too. Just follow the simple selling steps below and if you have
any questions, call or send us email and we will try to answer any questions you may have.
Five considerations in selling your French property
Step 1. Preparing your property for sale
Presentation is everything!
Buyers are attracted to clean, spacious attractive homes. Your aim is to show the "wow factor" of
your property to potential buyers. Brighten up the house and remove all clutter from counter tops,
tables, and rooms. Clean your house from top to bottom. Make it sparkle!
Simple improvements such as trimming trees, planting flowers,
repairing creaking steps (although to some, they may add to the charm!), broken tiles
and other minor repairs, cleaning carpets and floors, and a spot of painting can greatly
enhance the appeal of your property. Above all, make sure your house smells fresh and clean.
Animal lovers beware, odors are a big no no!
In short, you are de-personalising your property so that buyers can imagine how their belongings
and furniture will fit into your house.
Step 2. Pricing your property effectively
Do not over price your home. Over pricing your property
reduces buyer interest and your property will take longer and be more difficult to sell. Over pricing a
property is the single biggest reason why many "for sale by owner" attempts fail. Remember,
the local housing market dictates the price, not what you think it should be worth.
One of the best ways to correctly price your property when selling is to find out how much similar
homes in your neighbourhood have brought. Look at the property
listings in your local newspaper. Typically, if you set the price of your property at 5 to 7
percent above the market price, you are likely to end up with an offer close to your property's
true value. Also, you may try calculating the cost per square meter (divide list price by square
meters of livable space) of your home and compare it to the same figure for other
houses in your area as best as you can determine them.
If your house has more features, or other qualities such as a swimming pool, Jacuzzi, fully
fitted kitchen, etc, you may want to set a slightly higher selling price.
Step 3. The role of the notary (notaire)
Although many international buyers are not aware of it, the local notary for your area represents
the best interest of both buyer and seller throughout the entire purchase transaction. He is
responsible to make sure the necessary searches are done, that the termite, lead, and asbestos
inspection reports are complete and available for the buyer's inspection and to inform the buyer
of any servitude rights or the new laws regarding septic systems. He can help in expediting
a smooth sale without lengthy delays, as he will have firsthand knowledge and the history of the
property. We all know how long a transaction can take and this may put out the buyer. A notary is
legally bound by law to act in the interest of both parties and must disclose to buyers and
sellers all the legal requirements prior to a sale. You can gain more information regarding
notaries here: www.notaires.fr/notaires/notaires.nsf/V_TC_PUB/GBACC
Step 4. Marketing your property
All French Services provides extensive exposure through
our ever increasing mailing list. New visitors come to the site each day. In fact, All French
Services is one of the most visited sites in France, for our area, getting literally thousands
of visitors looking to buy or sell a home. We advertise in international media and property magazines
targeting international clients. We invest in search engine placements and also internet advertising.
All French Services is prominently placed on internet search engines ensuring that our site continues
to receive a continuous stream of new visitors.
While All French Services can allow you an unlimited word description of your property and up to
20 digital photos which are shown in a custom slide show for your house,
(try that in a newspaper advertisement!), your advertisement
should be thorough and yet, simple and to-the-point. Make your house sound appealing and make sure
to provide the critical points buyers are looking for such as area, (Post Code), countryside,
name of the village, and type of property it is, for example, a Chateau, Maison de Maitre, town house,
a cottage or farm. Include the number of bedrooms and bathrooms and list all other rooms in the house
with their sizes. Mention new upgrades completed, swimming pool, septic system, mains water,
type of heating, land area, and what local amenities are available in your area, such as hospitals,
doctors, a pharmacy, train station (TVG), schools, and colleges. Is your property within easy
walking distance to the Boulangerie or supermarket, for example, or within easy driving distance?
All this information is valuable and will help to sell your property.
Digital Photos
Remember the old saying, "a picture is worth a thousand words." If you are taking a photo of your
home, be sure that the property's outside area is clean and
tidy. Dustbins, bikes, rubbish, washing lines full of laundry, and parked cars do not help
in the marketing of your property. The same applies for interior photographs. People are looking
to buy your house, not your belongings. Think of furniture as props and the room as a stage. Move
things around if you have to. Also, take lots of photos. Your property deserves quality. The
more photographs you take, the better.
A good idea is to create an information sheet (with a photo) about your property. Consider
printing the information from your ad on All French Services to give to buyers who visit your home.
Our Property Listing Service can also help sell your property by bringing it to the attention
of estate agents that may know of buyers seeking a property like yours. Our site is visited by
estate agents that may be looking for a particular property for one of their own clients. If an agent
approaches you, negotiate the commissions. There is no legal requirement for them to charge
you 6%.
Step 5. Negotiating an offer on your property
When a buyer makes an offer, it is usually presented to you directly from the buyer. Purchase
price isn't everything. Carefully consider the offer and the terms. Too many conditions can lead
to problems which can cause the sale of your property to collapse. You could end up thinking
your property is sold in April and then have to re-list it in July.
Assess your buyer's financial qualifications! Is the buyer pre-approved? Is the property purchase
subject to a mortgage approval? You can lose valuable time if the buyer does not have a pre-approved
mortgage or is unable to obtain timely funding. If you feel the buyer's offer is insufficient, make
a counter offer. Rarely is a first offer the absolute highest price they are willing to pay. If they
want your property and are serious buyers, they will be prepared to negotiate.
We hope that we have provided you with the important things to consider about selling your own French
property in this short guide. Again, if you have any questions, drop us an email or give us a call. We
hope you will list your property on All French Services!
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