House Sold - Compromis signed but no deposit paid

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mysty
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Re: House Sold - Compromis signed but no deposit paid

Post by mysty » Fri Sep 20, 2019 8:08 am

Le Démerdeur wrote:
Fri Sep 20, 2019 12:49 am
It wont happen Mysty because I am not daft enough to go down that route and as much as I dislike anyone calling themselves an agent or whatever they dress it up as I am also old fashioned enough to honour a contract & believe that someone is entitled to their commission even if a buyer appears the next day that had already seen and made an offer on the property.

I think you are right though, the French law & the agreements probably have both parties liable & so they should be, if they do a backhand deal then they are both culpable. Knowing France if they cant get the money from one party, the non resident one they will get it from the other.

Notaires fees are 150% of what the agents fees are, you wait till the government puts a malus tax on older non energy efficient houses!
Could you please post your source that show notaires fees are 150% of what the agents fees are.
There is no connection between them.
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Re: House Sold - Compromis signed but no deposit paid

Post by Le Démerdeur » Fri Sep 20, 2019 9:19 am

Agreed, I was speaking of this purchase at a certain price with a certain agent and I even managed to confuse an 💶 figure with a percentage, €12k against 8% :roll: I was tired.

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Re: House Sold - Compromis signed but no deposit paid

Post by Annabelle's Papa » Fri Sep 20, 2019 9:38 am

To the OP, why not stop emptying the house and let the Notaire know that you are concerned that no deposit has been taken. Why should you have to empty the house and the relevant costs and they don't have to even pay a deposit. I didn't quite follow the bit about the mortgage offer, has that not been made yet ? That would worry me and the mortgage Co. might devalue your house and offer a smaller mortgage offer.

It sounds like a tactic to back you into a corner, you don't have to play their game, maybe, they offered the asking price to suck you in.
Throw the cat amongst the pigeons and say the other agent has an interested party... Just a thought
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Re: House Sold - Compromis signed but no deposit paid

Post by rabbit » Fri Sep 20, 2019 10:11 am

Usually a Compromis will contain a clause that allows the buyer to pull out if their mortgage application is unsuccessful.
Although it is the case that the buyer pays the agents fees it is actually the seller who is contracted to pay the agent if a buyer is found. That is you agree with the agent to sell for 100k. He adds his fee 5 k and advertises the property for 105k. If you have an exclusive agreement and you sell the house privately you still have to pay him 5k. If a non exclusive and you sell through a different agent at say 102k the other agent still can demand his fee if he finds a buyer willing to pay the full asking price

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Re: House Sold - Compromis signed but no deposit paid

Post by PatF » Fri Sep 20, 2019 12:13 pm

I thought notaire's fees were related to the price of the house?

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Re: House Sold - Compromis signed but no deposit paid

Post by tohubohu » Fri Sep 20, 2019 2:14 pm

They are.
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Re: House Sold - Compromis signed but no deposit paid

Post by Le Démerdeur » Fri Sep 20, 2019 9:54 pm

They are :good:

I have editted my erroneous posting, the fees are a much higher precentage the cheaper the property is, some Mysty houses have cost more in Notaires fees then the purchase price IIRC.

For my dump back in 2004 it was €6K + on a €40K purchase price, today it is €12K & a bit on a €150K purchase price, varies slightly according to departement.

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Re: House Sold - Compromis signed but no deposit paid

Post by mysty » Sat Sep 21, 2019 12:13 am

Le Démerdeur wrote:
Fri Sep 20, 2019 9:54 pm
They are :good:

I have editted my erroneous posting, the fees are a much higher precentage the cheaper the property is, some Mysty houses have cost more in Notaires fees then the purchase price IIRC.

For my dump back in 2004 it was €6K + on a €40K purchase price, today it is €12K & a bit on a €150K purchase price, varies slightly according to departement.
Not normally.
If we buy a house up to 10.000 euros the legal fees are around 1000.
If we pay just a 1000 for a house, the legal fees are just over the 1000 euros.
That is rare but it happened this year.
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Re: House Sold - Compromis signed but no deposit paid

Post by Now Retired » Mon Oct 07, 2019 8:55 pm

Update: I was in UK when I posted the question and have since been to France and returned. We're going out next week again too - expensive, tiring, time consuming this house sellling, clutter clearing, furniture move arranging business !

We paid a visit to the Notaire who confirmed that around 50% of first time buyers do not pay a deposit and often borrow enough to cover fees and some extra too.

It's a funny old world: In the UK it was supposed that 110% mortgages was significant reason for ridiculous house price rises, mortgage defaults and general woe. (Remember Northern Rock). Yet, it seems in many parts of France no deposit payments and 110% mortgages have no effect on boosting house sales and prices. Several people in our village, whom we have never spoken to before, have congratulated us on the sale. It's either that or they're happy to see us go :D

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Re: House Sold - Compromis signed but no deposit paid

Post by mysty » Mon Oct 07, 2019 11:38 pm

The difference in France is they will not lend you what you cannot afford to pay back.
Depending where you are some property prices have rocketed.
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