So, this is a subject I have avoided writing about for months since we're in the process of buying and I wasn't sure what the process was...well I'm still not sure but thought I'd attempt it! For us the process is still on-going through the purchase date of 28 May so there will be more info to come after that happens. First, of course, one has to locate a place. This in itself is a monstrous feat of willpower and time commitment. Unlike in the States where you work with one realtor who does all the legwork to identify the choices within your price-range and physical requests, in France each piece of property is listed with one or more real estate agencies, or independently by owner. Among all of these, the buyer must locate the places she wants to see then call or visit the various agencies that handle each of the properties. Within those agencies, often there is one specific person who can show a particular piece of property so one may have to wait for her/him to come back from vacation or where ever. Within some of the larger companies, other colleagues may show an apartment but at times they hand a client off to the another person when they reach the location. I have purchased several houses in the US through the years without any trouble but the system here is beyond comprehension. I bet we visited over 50 places over the course of the last year and I couldn't keep any of the realtors straight. There's also a very relaxed attitude among many of the realtors and they may or may not even act like they are interested in selling you something, much like the wait-staff in the cafés and restaurants! There were numerous times when we found something we liked so called the realtor and left a message requesting a visit but didn't even receive a call back. If we really wanted to see a place we would persist by calling back until we got ahold of someone. I often wondered if they really cared if they sold a place or not! Prices in Paris are outrageous to say the least and with each additional desirable characteristic you want in a place the price goes up. Age of the building including its charm factor, size, neighborhood, noise level of the street, sun exposure, steps verses elevator, and outdoor balcony are all figured into the price of an apartment. They price a place per square meter and each neighborhood has a bottom and top range. Of course, we wanted a large apt. in an old, charming building with an elevator near where we live now, south facing with a balcony! Naturally, this is what everyone looks for but only a few can actually afford so we changed our standards and kept hoping for a miracle. By mid November 2009, we were worn out from looking, the market had dropped some in the fall but was showing signs of going up again so we decided we needed to actually place a bid on a place soon.
This is the next complicated step since one must deal with the realtor to reach a price agreement and then put a certain percentage down and sign a very detailed contract of intent to buy. The buyer has 7 days to back out without penalty and then 30 days to secure a loan. Within the 7 days, the buyer must look at everything in the place to make sure if there aren't major structural problems, etc. In France, the real estate company is required to have a thorough inspection done but one is only allowed to see this after the intent to buy contract has been signed. If the buyer changes her/his mind after the 7 days the real estate company can keep the downpayment. If the buyer doesn't get a loan, s/he does get the downpayment back but I think that's the only circumstance they will accept.
By late November, there was an apartment that I liked in a building for 1990. It was in a nice location and on a closed off side street so no traffic noise...a major factor for me since we now live on a commercial street that has non-stop noise 24 hrs per day. Gabriella wasn't thrilled about the place but thought that she could live there without any trouble. The first I notice mold in the corners of the ceilings in the closet and bedroom. This was an alert sign for me even though the owner stated there was no problem that she knew of. She was asking 375,000Euros for about 57 sq. meters, high for that part of town, space, etc. So, we waited a few days and went to the agency, looked at the place a second time and offered 325,000E. The real estate agent had a fit and said he wouldn't ever propose that amount to the woman so we said that we could go as high as 335,000E, our target, but that was it. He said No to that as well so we left disappointed but low and behold 3 days later he called with a story about having seen the owner and her having accepted our bid. Thus, began a 3 week roller coaster ride that ended when we still had no official paper signed from the realtor and had visited another place that came through an email advertisement that we liked.
To be continued......
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