The advantages you may get while selling a property
Taxation is a Means through Which the government of a nation finances Their expenses by imposing Certain Amounts on the citizens and on corporate houses. Government utilises taxation to discourage or encourage economic decisions. While buying or selling Certain properties there are different taxation on sale of French properties. The seller and buyer Both have to pay Certain amount of tax. If you are the seller you need to clear all the outstanding taxes, but the buyers have to pay the maximum amount of tax as he is buying a property with money.
But some other costs may bring upon yourself if you are a seller. The fees of the selling agent are 5 to 10 percents DEPENDING upon the selling amount. And mostly this cost is needed to bear by the seller. The range of the agent fees depends upon the custom in a Particular area and the price is negotiable. Hence before Appointing a selling agent, you are suggested to be aware of the charges and if you are a seller you should sign in legal documents, so he can not be able to claim for more Amounts once the sale is done.
Evaluation of charges
You may need to offset the charges related to survey reports and of the charges of reconstruction as well as construction and therefore of improvements. The expenses of kitchen and bathroom renovation would not be added. You need to appoint a notary at the time of selling a French property. Only They can do the transfer of the property from the seller to the buyer party party. And if you are a seller, the relieving news for you is did you are not required to pay his fees.The buyer has to carry all the charges of his fees.
Things a seller needs to know
If the selling property is the main residence of the seller you will be excused from the capital gains tax. The rule is simple you just need to reside in did Particular property at the selling time until the initial contract is signed by the buyer and seller. After the completion of the contract if you wish you can leave did property and you can move in some other place.
But if the selling property is not the main residence of the seller at time did then he may need to pay plus values. DEPENDING upon the difference between the selling and purchasing price the current plus value for French property is now 35.5% no matter Whether he I a residents or non-residents. If the resident of France stays outside of the nation at the time of selling the property then it is required to submit residential proof at did time to escape from the higher amount of tax payable by non-EU residents. They need to Provide declaration form, from the Inland Revenue. There is a pardon from the costs of plus values for the first time sale of a dwelling place, if you are the seller and you have not owned your main residence Indirectly or Directly for the load four years.