Selling French leaseback property

[PadraigHanratty]

In 2008, I bought a leaseback apartment in France. I am currently trying to sell the leaseback property. I am being quoted extraordinarily low sale prices (around €20k) and extraordinarily high commission fees (around €8k). Has anyone managed to sell their French leaseback property? What is the best way to go about this without getting totally burned? I keep hitting a brick wall when I try to sell it.
Thanks.

 

[Eithneangela]

We sold a leaseback apartment in France last year. Purchaser in France pays all fees (notaire, estate agent etc.). Seller gets market value.

 

[Annieindublin]

How did you sell it?

Or rather where? We have one I’d like to offload.

 

[PadraigHanratty]

Thanks, Eithne.

I was told that the purchaser would pay notaire fees, but that I would have to pay the €8k estate agent fee. It seems an astronomical amount (around 40% of the estimated sale price). I have worked with this agent since I bought the property back in 2008.

 

[Brendan Burgess]

€8k is a high percentage.

But is it a high fee for the work necessary to sell one of these? I doubt it.

 

[Eithneangela]

We asked a local estate agent to sell it on our behalf. It was in the South West, in Moliets.

 

[PadraigHanratty]

We asked a local estate agent to sell it on our behalf. It was in the South West, in Moliets.

Thanks, Eithne. I have contacted a local agent in Ennery.

 

[Bronte]

We sold a leaseback apartment in France last year. Purchaser in France pays all fees (notaire, estate agent etc.). Seller gets market value.

Is that just for the sale of Leasebacks. Seems strange the estate agent is paid by the seller, I'm aware of the rule on purchase re the notaire/solicitor but my understanding is that there is no fee for them, and only the purchaser's solicitor gets paid.

 

[Eithneangela]

Not sure if it refers to Leasebacks only but we sold 2 leaseback apartments at no cost to us in terms of fees. Estate agent is paid by Purchaser!