French Property Insider Volume XVII, Issue 13 Thursday, March 28, 2019 • Paris, France
Don't miss a single issue of French Property Insider! "Whitelist" French Property Insider by adding "email@example.com" to your address book.
FOR RENT: Le Poet de Saint-Michel, 6th...in the heart of St. Michel
Available immediately for a one-month rental or more...a one-bedroom duplex apartment with a bonus sleeping/working space, near the Seine and Place St. Michel, priced from €1960/month plus €100/month estimated utilities.
With the Seine and the Ile de la Cité visible at the end of the street, and the Luxembourg gardens within 10 minutes on foot, this is a location for enjoying the center of Paris, every single day. This is a cozy 42m2 duplex offering one full bedroom with lots of closet space, and a second sleeping or working area upstairs. The kitchen opens to the living room, with a view onto the courtyard. The apartment is quiet, both on the courtyard and street side. Rue Séguier is a small residential street, far enough away from cafés and bars. These can be found on the lively adjoining street, Saint André des Arts. The kitchen is fully equipped and well appointed. The bathroom includes bath/shower and toilet all in one room. Located on the 3rd floor with an elevator, the apartment offers plenty of light on all sides. Enjoy the authentic Parisian charm of this apartment, featuring original wooden floors downstairs, and "tomettes" upstairs.
Historical photo of the Chambre de Notaires, Place du Châtelet
Interior of the "chambre"
We often talk about the role of the Notaire up to the purchase or sale, which can take many months, but he has lots to do after the fact, too — what we might call "après vente!"
First and foremost is to ensure that the keys are delivered to the new and rightful owners. While the seller is in possession of them — it's still the responsibility of the Notaire that they pass over to the buyer...all of them. There are rare times when the buyer can have access to the property before the final sale or even not well after the sale for a variety of reasons, but those provisions must be addressed in the Acte de Vente (deed).
The publication of the sale is an essential formality accomplished by the Notaire within a maximum period of one month after the signing. It officially informs the French government of the existence of the sale. Once the sale is published, a guarantee (such as a mortgage, etc.) can no longer be entered on the property on behalf of the previous owner. On the occasion of this formality, the registration fees and the property advertising taxes are paid, as well as any capital gains tax. Where applicable, the mortgage is also registered.
The Notaire's official sign
In the case where the sale relates to condominiums, the Notaire must notify the transfer of title to the "Syndic" (managing entity) by letter with acknowledgement of receipt, within 15 days from the date of sale. The Notaire then releases the funds upon the signing of the final deed to the Syndic the amounts remaining due. In addition, concerning any transfer of ownership of a lot or a fraction of a lot, the Notaire must notify the Syndic that the buyer is then considered as the new co-owner.
When the property is purchased by means of a loan, a notification of the sale is made to the insurance company of the purchaser and the syndicate of co-owners (or homeowner association). In fact, the Insurance Code gives creditors benefiting from a lien (or "hypothèque") the right to receive the indemnities due by the insurer in the event of a claim. The insurer not informed of the existence of the preferred creditor, and therefore in good faith, could validly make the payment of the indemnity in the hands of the purchaser. Notifying the sale to the insurance companies avoids this risk and reinforces the protection of the creditor.
When all is said and done, many months later, the Notaire sends the purchaser his title deed with the final statement of account...and there's usually a refund for an overpayment of tax. That's the nice surprise!
P.S. If you didn't have a chance to see the latest House Hunters International episode, Season 139, Episode 8, "Finding a Voice in Nice, France" you can watch it on Youtube NOW and for a limited time. Click here today!
April's Après-Midi: Speaking of House Hunters International...
April 9, 2019
Adrian Leeds, Real Estate Agent, House Hunters International
Adrian Leeds has "starred" in 37 episodes of HGTV'S House Hunters International episodes since 2006, as a French property consultant who helps people realize their dream of owning property in Paris and all of France!
Join Adrian as she shares three or four of her episodes from House Hunters International. She will also talk about her experiences taping the shows and will open the forum to questions.
Don't miss it!
The second Tuesday of every month 3 p.m. to 5 p.m.
Copyright 2019 Adrian Leeds® Adrian Leeds Group® adrianleeds.com PAdrian Leeds® is a registered trademark in France. INPI: March 10, 2006, #063416238. Adrian Leeds Group® is a registered trademark in France. INPI: December 22, 2014, # 14/4144068. Anyone using these brand names or any kind of advertising without permission may be prosecuted. AdrianLeeds.com, AdrianLeedsGroup.com and AdrianLeedsEnterprises.com are reserved domains for exclusive use of Adrian Leeds® and Adrian Leeds Group®.