Finding/Owning French Property

Topic has 6 replies.
Print Search Sort Posts:

Sell on instalments / promissory contract?

Hi,

We are looking for some guidance and hopefully an introduction to a notaire who could assist us.

We need a notaire to prepare a contract between two people who are both British.

We are not sure if the contract should be a promissory contract, private mortgage, instalment contract or a rent to buy style of contract, we are open to suggestions.

The seller of the French property is based in the UK and owns a property in the French Alps, he bought it back in 2006 and has a mortgage on it. He no longer uses it and has struggled to sell it in the traditional way, so he has decided to rent or sell it and to transfer the title once the full amount of rental payments has been made.

He has agreed to sell it for €600 per month over 98 months which would also cover the outstanding mortgage amount and term.

Then once paid off he has agreed that he will transfer the title.

Please let us know your suggestions and the best way to do it, also any introductions to suitable notaires would be helpful.

Thanks in advance.
   Report   Reply Quote

Re: Sell on instalments / promissory contract?

I've no idea about a contract like that, but suggest the seller should contact a notaire near the property.
You're both going to need someone who speaks french and english.
In the transition period who is going to pay house taxes, insurances etc? If you're going to be using the place during that time, would it be difficult to get insurance?
It sounds a bit like a longterm tenancy.

   Report   Reply Quote

Re: Sell on instalments / promissory contract?

Look up vente à terme ..


The fact that an opinion has been widely held is no evidence whatever that it is not utterly absurd; indeed in view of the silliness of the majority of mankind, a widespread belief is more likely to be foolish than sensible.
- Bertrand Russell
   Report   Reply Quote

Re: Sell on instalments / promissory contract?

Have you looked into taking over his mortgage?


On some great and glorious day the plain folks of the land will reach their heart's desire at last, and the White House will be adorned by a downright moron.

H. L. Mencken 1880 - 1956

Some may not like his views, but what a prediction!
   Report   Reply Quote

Re: Sell on instalments / promissory contract?

Hi Norman,

Thanks.
Do you know of any notaires who could prepare such a contract?
I have tried contacting many notaires over the last few weeks, most ignore me and the ones that do respond seem to have no clue how to do these types of contracts.

Please let me know.

Thanks in advance.

Iain
   Report   Reply Quote

Re: Sell on instalments / promissory contract?

It shouldn't be as hard as all that.
This  agency specialises in viager which of course isn't the same thing, but they also have a section on vente à terme so they will obviously be in contact with Notaires who do this regularly


The fact that an opinion has been widely held is no evidence whatever that it is not utterly absurd; indeed in view of the silliness of the majority of mankind, a widespread belief is more likely to be foolish than sensible.
- Bertrand Russell
   Report   Reply Quote

Re: Sell on instalments / promissory contract?

No luck with these guys either unfortunately.
Do you know of any notaires that you could recommend who would be experienced in this?

Thanks,

Iain
   Report   Reply Quote

Most Read

Enter our competitions

Win books, DVDs, travel and even holidays in France in our great competitions! Take a look at our latest competitions…

Enter now

Join us on social media

France magazine
Living France magazine
French Property News magazine