English
FrançaisI know that French estate agents charge up to 10% (plus VAT) of the sales prices -and there are other fees.
But I'm hearing that it is common practice for agents to insist on a minimum fee. I asked a couple of my fellow owners if they had been charged a minimum fee and two of them produced correspondence from Sextant properties which showed "minimum fee €10.000 plus 20% VAT". Considering these owners are trying to sell small apartments for ca. €40.000 a sales commission of €12.000 seems outrageous.
Can anyone confirm if this is the norm?
Sorry would have no idea at all - however if you are trying to sell with a leaseback in place I think you will have little chance - the main French banks look on them as quite toxic and the initial cost price may be much higher than what you would actually achieve - my advice get rid of th elease and then attempt to sell - good luck
That is correct, 10k + vat is what they charge. If you want to sell you have to slash the price of the property and accept their fee.
Not so in our neck of the woods - the local agents charge 5% to market properties.
And has anybody managed to sell a property with a leaseback attached - any blogs and post I read says they are virtually unsaleable??
It's not unheard of in our development. There have been several apartments sold here over the years. There are a few more coming onto the market as we approach the end of our first lease period and as with most property sales, the ones with the best views and the most sensibly priced (neither expecting a huge profit or entailing a big loss) are still selling.
We were told by a co-owner who sold that he paid no sales agents fees- the buyer pays these fees.
He was not in leaseback.
Wineflair,
I am going through the sales process with the leaseback agreement in place.
Good luck with that
There have been 4 resales in our residence, all leaseback, and all bought by French buyers