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Agency Commission
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All prices quoted by Purslow's Gascony include agency commission which is payable by the seller. |
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Notary's Fees
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At the time of completion, the notary collects purchase taxes on behalf of the French State, which are calculated on a sliding scale according to value of the property. The notary's own legal fee for the conveyance is added. Together, these total approximately 6.5 % of the bricks and mortar price, excluding the value of any contents. A mortgage will add about 1% to the overall fees.
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| Compromis de Vente
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Drawn up by the buyer's notary. It sets out in full, all aspects of the transaction and includes standard and any special conditional clauses. The deposit, customarily 10%, is paid to the notary at this time. Once signed by both parties, the contract is mutually binding.
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Searches
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A satisfactory return from the local authorities must be available to the notary prior to completion. Local bodies and notably the national land commission - SAFER, must release any rights of pre-emption.
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Acte de Vente
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For completion, the 90% balance of the purchase price, together with the notary's fees, must be in the notary's possession in advance of the signing of the Acte de Vente. As with the Compromis de Vente, buyer and seller are present, unless represented by Power of Attorney. The signed document remains in the notary's archives. Once published with the Land Registry, a copy is subsequently available to the purchaser. Contents included in the sale can be itemised in the Acte de Vente.
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Local Rates
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There are two local taxes which are levied on all French properties. The Taxe d'habitation is paid for the year by the owner (or tenant) in occupation on the 1st January. The Taxes fonci�res, which relates to buildings and land, is split pro-rata between buyer and seller. Bills arrive in the Autumn for the current calendar year.
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Utilities
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We arrange the hand-over of water, electricity and telephone contracts. Note that a new telephone number is issued to a new owner. |
| Insurance | | Buildings insurance becomes the purchaser's responsibility immediately on completion. The existing insurance policy can be transferred or a new agent appointed.
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