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Information to verify before the purchase - Vivre à Paris, a real estate agency “unlike any other”

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VAP informes you

Purchase: Information to verify

Information to verify before the purchase

 

Before buying, you should verify the environment and intrinsic elements of the property. In contacting Vivre Paris, we will assist you in the verification process. We will have already gathered the majority of the pertinent documents.  Most notably, we will verify the usage (private use, professional use, combination) of the property, in order to provide you with the most complete information making the transition as seamless as possible.

Among the elements to verify:

  1. Verify the surrounding area of the property
  2. Check out the immediate neighborhood
  3. Check out the inherent quality of the property
  4. Verify the fees that are attached to the priceof the property

Verify the surrounding area of the property

Being aware of the existence of public transport, the presence of businesses and schools depending on size, can add value to a property.  Public green spaces, such as parks, and the possibility of parking, if the building needs it, can also add value.  On the other hand, businesses on the ground floor of a building may not necessarily constitute an advantage, because of the possibility of public disorders.

You should verify with the documents of the homeowner’s association (accessible through the building syndic) to determine if authorizes the establishment of any type of commerce.  It is better to avoid buildings where a business can be installed that may cause a nuisance such as a “fast-food” franchise.

You should also check any projects the city is planning in the neighborhood, which can affect the value of the property: creation of a pedestrian district or introduction of a high traffic thoroughfare.

Check out the immediate neighborhood

Living downtown, in the heart of a lively district, can be constraining despite the benefits. Short of going door to door, if you have any doubts regarding the “liveliness” of the immediate neighborhood, you can visit several neighbors in the building. This will give you the opportunity to get varying points of view and the degree of any potential nuisances. You can also speak with the concierge of the building.

Check out the inherent quality of the property

Beyond the interior and the general state of the apartment, it is also necessary to asses the exposition, the floor, the presence of an elevator or a cellar, common areas such as bike and stroller storage.

We advise you to visit the property at different hours and days to evaluate the potential value detractors, such as bad soundproofing or noisy neighbors.

You must also visit all the common parts of the building to assess the quality of its construction. If you have any doubt about the soundness of the construction of the property, it is always possible to be accompanied by a general contractor or an architect at the time of a visit.

For all the questions regarding the inherent quality of the property, pose the questions to the real estate agent by giving him precise objectives of your purchase. The quality of property that you intend to live in will not necessarily be the same for an investment property.

Vivre Paris will be your advisor throughout the project. Do not hesitate to ask us any questions relating to your purchase, no matter what your budget or type of project.

Verify the fees that are attached to the price of the property

The notaire or the real estate agent will be able to give you the exact amount of the taxes and fees required to close. The fees and taxes will depend on the purchase price.

If the transaction is a recent building, resold for the first time less than five (5) years after its completion, the transaction is subject to VAT tax, but you benefit from reduced fees.

Also check the amount of the occupancy and property taxes.

Verify the charges of the homeowners association, the building maintenance file and the advance fees made to the cooperative account by the seller (i.e. reserve or special assessments for project renovation). At the time of the signature of the final sales agreement, the advances will be reimbursed to the seller by the notaire and must be paid immediately by the purchaser.

The future energy diagnostic will also enable you to check the estimated heating and cooling consumption on a property you wish to purchase.


In conclusion, consulting a professional, you have the guarantee that you will be kept fully informed.  Vivre Paris systematically collects and maintains the information and documentation on behalf of the seller to make them available to all potential buyers.

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