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Buying real estate can be an important and complex decision. There are many pitfalls to avoid in the process. Here are some of the most common:

Not defining your budget precisely: It's essential to establish a realistic budget before you start looking for a property. This includes not only the purchase price, but also additional costs such as notary fees, agency fees, taxes, insurance, repairs and so on. It's important not to overextend yourself and to take into account all the costs associated with the purchase.

Failing to carry out a thorough inspection of the property: It's crucial to have the property thoroughly inspected before you buy. Hire a professional inspector to check the overall condition of the property, including structure, fixtures, plumbing, electrical, etc. This will detect any hidden problems that could lead to major expenses after the purchase.

Not doing enough research on the neighborhood and location: Location is a key element in real estate purchases. Make sure you do thorough research on the neighborhood, accessibility to public transportation, local amenities, schools, shops, etc. A poor location can have a negative impact on the future value of the property.

Not taking into account condominium charges or additional fees: If you're buying a property in a condominium, make sure you understand the condominium charges and associated additional fees. These may include maintenance fees, common services, renovation work, etc. Evaluate these costs carefully and make sure they fit your budget.

Not consulting a real estate professional or lawyer: Buying a property is a complex transaction, and it's often advisable to consult a real estate professional or lawyer who specializes in real estate. They can guide you through the buying process, helping you to understand contracts, legal obligations, property rights and so on.

Don't negotiate price or conditions: It's important not to accept the asking price without trying to negotiate. Research market prices in the area and use this information to obtain a more advantageous price. In addition, don't forget to negotiate the conditions of sale, such as any necessary repairs or improvements to be made.

Failing to read contracts and legal documents carefully: Before signing anything, make sure you carefully read all contracts and legal documents related to the real estate purchase. If necessary, enlist the help of a lawyer to make sure you understand all the terms and conditions.

To buy a property, here are the general steps to follow:

Define your needs and budget: Before starting your search, determine your needs in terms of property type, location, size, budget and other important criteria. This will help you focus your search and find properties that match your expectations.

Get pre-approved for a mortgage: If you're planning to finance your purchase with a mortgage, it's a good idea to get pre-approved for a mortgage by a financial institution. This will give you a clear idea of your borrowing capacity and help you define your purchase budget.

Property search: Explore the various sources of property search, such as specialized websites, real estate agencies, local newspaper ads, social networks, etc. You can also call on one of our negotiators to assist you in your search and present you with properties matching your criteria.

Visiting properties: Organize visits to the properties that interest you. During the visits, examine the property carefully, ask the seller or estate agent relevant questions and take note of important elements such as the condition of the property, facilities, surroundings, etc.

Make an offer to purchase: If you find a property that matches your expectations, you can make an offer to purchase to the seller. The offer may be conditional on certain inspections, the obtaining of a mortgage or other specific conditions. You can negotiate the price and terms of the offer with the help of your real estate agent.

Carry out inspections and expert appraisals: Once your offer has been accepted, you can carry out in-depth inspections and expert appraisals of the property. This may include a structural inspection, a technical appraisal, a property valuation, and so on. These steps will enable you to ascertain the condition of the property and identify any potential problems.

Finalize financing: If you've been pre-approved for a mortgage, you can now finalize your mortgage application by submitting the required documents to your financial institution. It's important to compare offers from different lenders to obtain the best loan conditions.

Sign a compromis or a sale agreement: Once inspections and appraisals have been completed, and financing confirmed, you can proceed to sign the deed of sale at the notary's office. The notary will prepare all the necessary documents for the transaction. The deed of sale will be signed a few months later.

Make payment and take possession: Once the deed of sale has been signed, you'll need to make the final payment of the purchase price. 

Yes, it is possible to negotiate notary fees in certain situations. Notary fees are generally regulated by law and represent a significant proportion of the costs involved in buying a property. However, there are certain elements on which you can try to negotiate:

Notary's emoluments: Notary's emoluments are the legal fees that the notary charges for his services. Although these fees are generally set by law, there may be some room for negotiation. In some cases, particularly for high-value real estate transactions, it may be possible to discuss fees with the notary and obtain a reduction.

Disbursements and ancillary costs: In addition to the notary's fees, there are additional charges called disbursements, which include costs related to administrative formalities, land searches, certificates, copies of documents and so on. These fees may vary from one notary to another, and it is possible to ask for clarification on disbursements and negotiate their amount if necessary.

It's important to note that the room for negotiation on notary fees may be limited, as part of the fee is determined by legal provisions. In addition, not all notaries will be willing to negotiate. However, it is advisable to discuss notary fees with your notary or to compare offers from several notaries to find the most advantageous solution.

Assessing whether a property is overvalued can be a complex process, but here are a few things to consider to help you along the way:

Comparison with similar properties: One of the most common methods of assessing the value of a property is to compare it with similar properties in the same geographical area. You can search for similar properties that have recently sold and compare their prices to the property you're appraising. If the property you're considering is significantly more expensive than similar properties, this could indicate a possible overvaluation.

Study the local real estate market: It's important to understand the state of the local real estate market. If demand is low and supply high, this could put downward pressure on prices and make it more likely that properties are overvalued. Consult real estate reports, market trends and statistics to get an overview of the situation.

Analyze property features: Carefully assess the features of the property in question. Take into account factors such as location, size, general condition, equipment, quality of construction, age, and so on. If the asking price is significantly higher than these features justify, this may be an indicator of overvaluation.

Ask for expert advice: Call on real estate professionals such as real estate agents or appraisers to give you their opinion on the value of the property. Their knowledge and experience can help you assess whether or not the property is overvalued.

Studying market trends: Analyze past and current real estate market trends in the area concerned. If property prices have risen rapidly and unjustifiably in recent years, this could indicate a possible overvaluation.

Assessing potential income: If you're considering buying a property with a view to renting it out, carefully evaluate the potential rental income it could generate. If the purchase price is so high that the rental income does not justify the investment, this could be a sign of overvaluation.

It's important to note that assessing the value of a property is a complex and subjective task. 

In Paris, certain neighborhoods are reputed to be among the most expensive in the city, due to their privileged location, cultural offerings and upscale features. Here are some of the most expensive districts in Paris:

Le Triangle d'Or (8th arrondissement): Located around the Champs-Élysées, Avenue Montaigne and Avenue George V, this district is known for its luxury boutiques, prestigious hotels and Haussmann-style buildings. It is also home to a number of renowned establishments, including the Palais de l'Élysée and the Grand Palais.

Saint-Germain-des-Prés (6th arrondissement): This emblematic district is renowned for its chic, bohemian ambience. It's popular for its historic cafés, high-end fashion boutiques, art galleries and proximity to prestigious cultural institutions such as the Louvre and Institut de France.

Le Marais (3rd and 4th arrondissements): This historic district has become one of the trendiest in Paris. It offers a unique mix of old buildings, designer boutiques, art galleries, museums, trendy bars and restaurants. Its popularity and central location make it a popular and relatively expensive district.

The 7th arrondissement: Located close to the Eiffel Tower and the Champ de Mars, the 7th arrondissement is a popular residential district, not least for its panoramic views of the Eiffel Tower and the Seine. It's also home to prestigious institutions such as the Hôtel des Invalides, the Assemblée Nationale and numerous embassies.

The 16th arrondissement: The 16th arrondissement is renowned for being one of the most residential and upmarket districts in Paris. It offers vast green spaces, Haussmann-style buildings, numerous museums, wide shopping avenues and proximity to the Bois de Boulogne.

It's important to note that property prices can vary considerably from one district to another, and even within the same district. Prices depend on many factors, such as the exact location, the condition of the property, its size, its specific features and fluctuations in the real estate market.

Buying real estate in Paris is attractive for many reasons, but it depends on a number of factors, including your personal goals, your financial situation and the context of the real estate market. Here are a few points to consider:

Market stability and value: Paris is a highly sought-after city with a high demand for housing. The Paris real estate market has generally been stable or even rising, which can be an advantage for long-term investors.

Valuation potential: Due to high demand and the city's appeal, Paris real estate generally has long-term valuation potential. However, it's important to note that growth rates can vary from neighborhood to neighborhood.

Cultural offerings and quality of life: Paris is known for its rich cultural offerings, historical heritage, museums, parks and diverse activities. If you appreciate the Parisian lifestyle, buying a property in Paris can offer convenient access to these assets.

We invite you to contact us to discuss the latest figures for the neighbourhoods you would like to visit.

Le Figaro - Property prices per m² in Paris in May 2024

Off-market real estate refers to real estate transactions that take place outside the traditional market, i.e. without being publicly advertised on publicly accessible real estate platforms or websites. In the off-market context, properties are generally offered in a discreet and confidential manner, and potential buyers are often selected on a targeted basis.

Here are a few characteristics of off-market real estate:

Confidentiality: Off-market real estate offers a high level of confidentiality. Properties are not made public, which can be attractive to sellers who prefer to maintain discretion around their real estate transaction.

Targeted buyer selection: Sellers and real estate agents select potential buyers for off-market properties on a targeted basis. This can be based on specific criteria such as creditworthiness, declared interest in the type of property, pre-existing relationship with the buyer, etc.

Exclusive and rare properties: Off-market real estate can feature exclusive and rare properties that are not readily available on the open market. These may include luxury properties, historic properties, highly sought-after properties or properties held by private owners.

Investment opportunities: Off-market real estate can offer investors attractive buying opportunities. Properties can be offered at attractive prices, with tax advantages or unique value-adding potential. These opportunities are often reserved for a select group of investors.

Access to a private network: Off-market transactions are generally carried out through private networks of real estate agents, investors or real estate professionals. These networks enable interested parties to come into contact with exclusive properties and opportunities that are not publicly available.

It is important to note that off-market real estate is not suitable for all types of transaction or for all buyers. 

Real estate agencies specializing in international transactions, such as Varenne, offer comprehensive, tailor-made support for international buyers.

Here are just a few of the services we offer:

Property search: Real estate agencies specializing in international buyers understand the specific needs and criteria of these clients. They carry out in-depth searches to find properties that match their requirements, whether in terms of location, size, architectural style, amenities, etc. They can also access exclusive properties not necessarily available on the open market.

Virtual tours and videos: Since international buyers cannot always physically visit properties, real estate agencies can provide detailed virtual tours of properties. This can include videos, high-resolution photos, property plans and detailed descriptions. This enables international buyers to get a clear idea of the property without having to travel.

Advice on regulations and laws: International buyers often have to deal with specific regulations and laws when investing in a foreign country. Specialized real estate agencies can provide advice and information on purchasing procedures, tax rules, foreign investment restrictions, residence permits, etc. They can work with specialized lawyers to ensure legal compliance. They can work in collaboration with specialized lawyers to ensure legal compliance of the transaction.

Handling administrative formalities: Real estate agencies can help international buyers manage the administrative formalities associated with the purchase, such as drafting and translating contractual documents, opening a local bank account, obtaining financing, coordinating inspections and expert appraisals, etc. They can also facilitate communications between the buyer and the agency. They can also facilitate communications between the buyer and the various parties involved in the transaction.

After-sales services : Once the purchase has been completed, specialized real estate agencies can continue to provide support to international buyers. This can include referrals to local professionals such as architects, contractors, property managers, interior designers and so on. They can also help with rental management, seasonal rental or the subsequent resale of the property.

Concierge services: Some real estate agencies offer exclusive concierge services for international buyers. This can include services such as travel booking, car rental, coordinating cleaning services, organizing events, recommending restaurants and local activities, etc. These services are designed to make it easier for buyers to settle in and integrate into their new property and surroundings.

Using a luxury real estate agency offers several advantages when buying, selling or renting a high-end property. Here are just a few reasons why using a luxury real estate agency can be beneficial:

Specialized expertise: Luxury real estate agencies specialize in the high-end property market. They have in-depth knowledge of the sector and specific skills for dealing with luxury properties. Their real estate agents are trained to understand the needs and expectations of customers looking for prestige properties.

Extensive network: Luxury real estate agencies often have an extensive network of contacts in the luxury sector, including potential buyers, sellers, investors and related professionals such as lawyers, architects, interior designers and so on. This network can facilitate the search for suitable properties, access to exclusive properties and the completion of complex transactions.

Confidentiality: Luxury real estate agencies understand the importance of confidentiality when it comes to high-end properties. They are used to dealing with sensitive information and guaranteeing the confidentiality of transactions. They can put in place confidentiality protocols and agreements to protect clients' privacy and ensure total discretion.

Marketing and visibility: Luxury real estate agencies often have high-end marketing resources and strategies at their disposal to promote luxury properties. They have access to specialized advertising channels, renowned online platforms, targeted social networks and sophisticated marketing tools to maximize property visibility and reach an international clientele.

Negotiation and legal expertise: Luxury real estate agents are experienced in negotiating complex real estate transactions. They have in-depth knowledge of market practices and can represent their clients' interests effectively. They can also offer legal expertise and work closely with specialized lawyers to ensure legal compliance of transactions.

Personalized customer service: Luxury real estate agencies generally pay particular attention to their clients, and offer high-end, personalized customer service. They understand the requirements and expectations of high-net-worth clients, and strive to meet them by offering tailor-made support throughout the process.

The characteristics of luxury real estate can vary according to preference:

Preferred location: luxury properties are often situated in sought-after locations, such as prestigious neighborhoods, waterfronts, mountains, private islands or exclusive estates. The location typically offers exceptional views, peaceful surroundings, proximity to upscale amenities and enhanced privacy.

High-end design and architecture: Luxury properties are often distinguished by their exceptional design and architecture. They can feature contemporary lines, noble materials, superior finishes and spacious, well-appointed living spaces. Attention to detail and finish is paramount.

Luxury equipment and facilities: Luxury properties typically offer a wide range of high-end equipment and facilities. This can include private pools, spas, sports fields, private cinemas, wine cellars, gyms, landscaped gardens, elevators, sophisticated security systems, etc.

High-quality materials and finishes: Luxury properties often use top-quality materials such as marble, noble woods, glass, precious metals, and so on. Finishes are meticulously crafted with great precision.

Modern technologies: Luxury properties are often equipped with the latest technologies. This can include advanced home automation systems for intelligent control of lighting, air conditioning, security systems, audiovisual systems and more. Technological installations can be integrated discreetly and intuitively.

Outdoor spaces and landscaping: Luxury properties feature well-maintained and landscaped outdoor spaces. This can include landscaped gardens, spacious terraces, patios, swimming pools with pool houses, outdoor relaxation areas, outdoor kitchens, etc.

Privacy and security: Luxury properties often offer a high level of privacy and security. This can include sophisticated fencing and security systems, surveillance devices, restricted access, security guards, etc.

Home staging is a technique used in the real estate industry to prepare a property for sale or rent. The main objective of home staging is to make the property more attractive to potential buyers or tenants, by highlighting its assets and minimizing its negative aspects. Home staging aims to create a neutral, welcoming and aesthetically pleasing environment, so as to promote a quick sale or rental at the best possible price.

Here are some key elements of home staging:

Depersonalization: Home staging often involves depersonalizing the space by removing personal objects and decorative elements specific to the current owner. The aim is to enable potential buyers to project themselves into the property and visualize their own lifestyle.

Decluttering: Decluttering is an important aspect of home staging. It involves removing clutter, superfluous furniture or excessive decorative elements. This creates a feeling of spaciousness and enhances the property's architectural features.

Cleaning and repairs: A well-maintained, clean property is essential for home staging. It's important to thoroughly clean the property, repair minor defects, replace faulty light bulbs, fix water leaks or any other problem that could give the impression of neglect.

Staging: Staging is a key step in home staging. It involves arranging furniture, accessories and decorative elements in such a way as to highlight the property's positive features. The use of neutral colors, well-cared-for textiles, appropriate light sources and a harmonious layout all contribute to creating a welcoming and attractive atmosphere.

Providing quality customer service: Real estate concierges are trained to provide quality customer service and respond to occupants' needs. They are generally available to provide information, recommendations and assistance to make occupants' daily lives easier.

To become a real estate broker, here are a few steps to follow:

Know the real estate business: Acquiring a basic knowledge of the real estate market is essential. Familiarize yourself with terms, market trends, property types, buying and selling processes, and local regulations.

Training: Although there is no specific training required to become a real estate broker, it is advisable to take real estate-related courses or training. This can help you develop your skills, understand the legal and financial aspects, and strengthen your credibility with customers and industry professionals.

Build a network: Build a solid real estate network. This can include real estate agents, developers, real estate lawyers, notaries, investors, landlords, etc. Participating in real estate events, joining professional associations and using online platforms are effective ways of developing your network.

Establish partnerships: Identify real estate agents, developers or other real estate professionals with whom you could establish partnerships. You can offer your services as a business referral by recommending potential customers or properties for sale. Developing trusting relationships with these partners is essential for a successful collaboration.

Marketing and prospecting: Promote your business development services using effective marketing strategies. Create an online presence, use social networks, design brochures, business cards or any other communication media to present yourself as a real estate business introducer. Actively prospect by identifying opportunities, contacting potential owners or participating in real estate projects.

Comply with local regulations: Familiarize yourself with the regulations and legal obligations concerning business introducer activities in your country or region. Make sure you comply with all applicable laws and, if necessary, obtain the required licenses or authorizations.

Provide quality service: Make sure you provide professional, quality service. Listen to your customers' needs, make sure you understand their expectations and treat all confidential information with the utmost discretion. Lower notary fees when the buyer pays agency fees
Although the buyer pays the agency fees in both cases, there is still a difference for the buyer, depending on whether these fees are posted at the seller's or the buyer's expense. In fact, this varies the amount of the notary's fees.

It is generally assumed that the seller pays agency fees when a property is sold through him/her. However, unlike notary fees, there is no set rule as to who pays them. While notary fees are systematically paid by the buyer, agency fees can be paid by either the seller or the buyer. It all depends on what the real estate agent and the seller have agreed in the sales mandate. The seller therefore has two choices:

Pay the agency fees yourself.
Charge the agency fees to the buyer.
Generally speaking, when agency fees are included in the sale price (and therefore payable by the seller), the price of the property is advertised as "H.A.I." or "Honoraires d'Agence Inclus" (Agency fees included). On the other hand, if the seller stipulates that agency fees are to be paid by the buyer, this means that the real estate agent is obliged to display detailed prices and indicate the amount of his commission when he publishes an ad. If this is the case, these fees must be shown inclusive of tax, to ensure greater transparency.

The amount of agency fees is a customary amount in the profession, generally ranging from 4% to 10% of the property price, as there is no law imposing a ceiling on agency fees when selling a property. However, the percentage of agency fees applied to the sale is generally degressive. The higher the price of the property, the lower the agency fees.  

Agency fees generally vary between 4% and 10% of the value of the property for sale. 

In reality, it's always the buyer who pays the agency fees.
Whether agency fees are advertised as being payable by the seller or the buyer, in reality it's always the buyer who pays them. The reason is simple: the final sale price will be the same for the buyer in both cases. 

The Carrez law is a French regulation designed to protect buyers of condominium properties. It requires that the private surface area of a condominium lot be specified in the sales contract. Here are the key points of the Carrez law:

Definition of surface area: The Carrez law defines surface area as the floor area of enclosed and covered premises, after deduction of areas occupied by walls, partitions, stairwells and steps, sheaths, doorways and windows.

Obligation to state surface area: When selling a condominium lot, the seller is required to state the surface area of the property in the sales contract. This is mandatory for all lots over 8 square meters.

Calculation method: The Carrez law establishes a precise method for calculating the surface area. Measurements must be precise, taking into account the surface areas of the main rooms as well as elements excluded from the calculation. A professional area measurement diagnosis may be required to guarantee the accuracy of the figures.

Consequences of a surface area error: If the surface area stated in the sales contract differs by more than 5% from the actual surface area, the buyer can request a reduction in the sale price or cancellation of the sale. This provision is designed to protect buyers against errors or fraud relating to the surface area of condominium properties.

Exclusions from the Carrez law : Certain types of property are excluded from the application of the Carrez law, such as detached houses, business premises, cellars, garages, parking lots, etc. However, if these properties are sold in conjunction with a condominium lot, the Carrez law applies to the main lot.

When estimating the value of a property, several surfaces are taken into account. Here are the main areas to consider:

Livable surface area: This is the usable surface area inside the property. It generally includes main rooms such as bedrooms, living rooms, kitchens, bathrooms, etc. Living space is measured in square meters (m²) and is a key element in estimating the value of a property.

Floor area: Floor area is the total area covered by a property. It includes not only living space, but also walls, stairwells, corridors, garages, cellars, attics, etc.

Land area: If the property is a detached house or has private outdoor space, the area of the land on which it is located is also taken into account. The size of the plot can have an impact on the value of the property, particularly in areas where outdoor space is taken into consideration.

Useful surface area: The useful surface area includes all usable surfaces of the property, whether habitable or not. It therefore includes living space as well as other areas such as balconies, terraces, verandas, outbuildings, etc.

Gross surface area: Gross surface area, also known as total surface area, is the total built surface area of the property, including exterior walls. It includes all interior and exterior surfaces, without deducting walls.

A bridging loan, also known as a crédit-relais, is a specific type of property loan used as part of a real estate transaction when you want to buy a new property before selling your existing one. Essentially, it's a short-term loan used to finance the purchase of the new property while you wait for the sale of your existing one.

Here are the main features of a bridging loan:

Financial bridge: The bridge loan acts as a financial bridge between the purchase of the new property and the sale of the existing one. It bridges the gap between the funds required for the purchase of the new property and the cash available until the sale of the existing property.

Limited duration: Bridging loans are generally granted for a limited duration, which may vary from country to country and from lender to lender. It is often fixed between 6 and 24 months, depending on the situation and market conditions.

Collateral: The bridging loan is usually secured by a mortgage on the property to be sold. The mortgage enables the lender to recover the loaned funds in the event of non-repayment within the stipulated timeframe.

Repayment : The bridging loan is repaid when the existing property is sold. The funds from the sale are used to repay the bridging loan, together with the interest accrued during the term of the loan.

Interest: For the duration of the bridging loan, you pay monthly interest on the amount borrowed. Interest can be calculated on the basis of a fixed or variable rate, depending on the terms agreed with the lender.

Amount borrowed: The amount of the bridging loan is usually based on an estimate of the value of the property to be sold. The lender grants a percentage of the estimated amount, usually between 60% and 80%, depending on its policy and the borrower's creditworthiness.

Risks: Bridging loans entail certain risks. If the sale of the existing property takes longer than expected, or if the sale price is lower than expected, this can lead to difficulties in repaying the bridging loan at maturity. So it's important to assess your financial situation and sales prospects before taking out a bridging loan.

A bridging loan can be an interesting option to facilitate the purchase of a new property while awaiting the sale of an existing one.