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Selling your Apartment in Nice

Looking to sell your Apartment on the Côte d’Azur? Chez Riviera is here to help. We’ve put together a little overview of how it works.

You need ever only talk to one agent, because Chez Riviera can organise on your behalf every aspect of the selling process. We liaise with high-end local and foreign agencies to give your property maximum exposure across the French Riviera and around the globe. For exclusive listings, thanks to our membership of the MLS French multi-listing service, your property will be viewed by over 445 agencies and their buyers in the local region alone – so it makes no sense wasting your time dealing with multiple agents; especially as commissions are split between agencies, meaning no additional cost to you.

  1. Listing your property
  2. Advertising
  3. Transaction costs
  4. Documentation
  5. Offer
  6. Preliminary sales agreement
  7. Final signing

Listing your property

In our experience the best way to sell your property at the optimal price in the shortest period of time is to list exclusively with one agent (preferably Chez Riviera of course!) Why?

  • Only exclusive properties can be advertised on ‘Emulis’ – the largest multi-listing site in France, which is accessed by 250 agents in Nice alone, as well as international agents and luxury property finders when they are searching for properties for their buyers.
  • You only have to deal with one agent for every aspect of the property sale: notary, diagnostics, marketing, keys, visits and general updates about price and interest.
  • There’s better service for the buyer because it’s much easier to arrange visits, whenever the buyer wishes.
  • And what’s more, you pay less commission!

Advertising

We will personally arrange for professional photos of your property to be taken; it will then be advertised and marketed on our own Chez Riviera website, which is Number 1 on Google Search for property for sale in Nice. We also advertise properties in our central Nice offices and we will diffuse it into our extensive network of both French and international property partners, ensuring your property gets maximum exposure.

Transaction costs

  • Diagnostics (a series of reports on a property) are paid for by the seller
  • Notaire Fees & Charges are paid by the buyer.
  • Taxe d’Habitation will be paid in full for the year by whomever occupied the property as at the first of January.
  • Taxe Foncière will be prorated between the buyer and seller.
  • Capital Gains Tax is payable by the seller and only applies if the property is a second residence. The amount of capital gains to pay will depend on how long you have owned the property and where you are resident. Please ask your Attika agent for more information on Capital Gains Tax.
  • Agency Commission is payable by the seller.

Documentation

Required:

  • Signed Sales Mandate
  • Taxe Foncière
  • Proof of Ownership (extract of title deeds – ‘Attestation de Propriété’)
  • Identification (Passport or National Identity Card)
  • Diagnostics – if you don’t have diagnostics, we can arrange for these with one of our certified technicians. Diagnostics are a legal obligation and must include valid reports on: surface area asbestos, energy efficiency, lead, termites and natural and industrial risks
  • Keys for visits (plus any gate entry codes)

 

Good to have:

  • Taxe d’Habitation
  • Monthly estimate of Utility Costs
  • Floor Plans
  • Details on any previous Rentals (if applicable)
  • If the property was built less than 5 years ago – the Acte de Vente (VEFA) to prove reduced notary fees.

Offer

Once someone decides to make an offer on your property, this will be presented to you in written form. The offer will never be above the asking price. If someone makes an offer for the asking price, you are legally obliged to accept the offer. If the offer is below, however, you can propose a ‘counter-offer’. All negotiations will be done through your Chez Riviera agent and all negotiations will be written. Offers are not binding, but once you have accepted an offer in writing, you can pull out at a later date but the agency commission is still binding.

Preliminary sales agreement

Compromis de vente
Once negotiations are finalised, the initial sale and purchase agreement or compromis de vente is drawn up. This contract stipulates the agreed price and terms,subject to any conditions that the buyer wishes to include (mortgages, etc.). Generally the purchaser is given 45 days to obtain a mortgage, after which the contract can lapse should the seller so choose. The contract will always state the date by which each condition must be fulfilled. If any condition is not realised by the date stated, then the seller can withdraw from the contract. This contract will be drawn up by a notary, the sales lawyer who will handle all legal matters of the sale. Chez Riviera works with some brilliant, English-speaking notariesand the process will be made as clear and stress-free as possible for you.

Ten day ‘cooling off’ period

Following the signing of the sale and purchase agreement, the buyer is entitled to a 10 day cooling off period. During this period the buyer can drop out of the sale for anyreason. This option to withdraw from the contract is only available to the buyer. Once the seller has signed they are legally bound by the contract. At the end of the 10 day cooling off period the contract becomes binding on both parties (subject to any conditions that may have been included in the contract).

Purchase deposit
The buyer is required to pay a deposit of up to 10% on signing the sale and purchaseagreement. The deposit is paid to the notary and held as part of the purchase
proceeds, in a government regulated ‘escrow’ account. If all conditions in the contractare met, but the buyer does not proceed with the purchase, then the deposit is payable to the seller. Conversely, if completion is subject to one or more conditions, which are not fulfilled, then the buyer is entitled to a full refund of the deposit within 21 days. In the event of default by the seller then the buyer can take legal proceedings to oblige them to proceed with the sale and/or for damages.

Final signing

Signing of the Acte de Vente (Deed of Sale)
When all the enquiries have been completed and funds are in place, you will be invited to the notaries’ office to sign the deed of sale. There is no requirement for the buyer or the seller to be present to complete the formalities. So if you are unable to attend the final settlement meeting, a power of attorney can be signed so that the deed can be signed on your behalf. Once the final act is signed, funds will be transferred from the notary.

If you are looking to invest on the French Riviera and wish to rent your apartment out to holidaymakers, we have a fantastic holiday rental partner, Sunlight Properties.

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