Pay an Immobilier. Oh, and get them to put it in writing on headed paper. €50 should do it.
That way, you'll probably get an un-inflated valuation - i.e. realistic.
An estate agent ('agent immobilier') can only offer an 'estimation' of your property, ie an idea of what it might fetch on the open market in current conditions. It will normally be offered free if you are proposing to offer the agent a mandate to sell, or will be charged at something like 1 per cent of the estimation, with usually a minimum of 300 euros or thereabouts (considerably more than the 50 euros quoted).
A formal valuation is carried out either by a professional 'expert immobilier' or 'conseil immobilier' and can be for purposes of inheritance, insurance, mortgaage, audti, taxation, rateable value etc. When arriving at a 'value' for a property various items are taken into consideration in addition to the 'valeur vénal' (market value) and include age, quality of materials used, quality of work including renovation, quality of interior fittings and installation (windows, doors, partitions, electrics, plumbing etc), location, neighbourhood, building density, extent of grounds, access, parking etc.
All this requires specific technical knowledge and experience that a run-of-the-mill estate agent is unlikely to possess, which is why no two houses in the same street can ncessarily have the same 'value'.
Hope this informaton helps,
P-D de Rouffignac
www.francemediterraneanproperty.com
P-D de Rouffignac wrote: with usually a minimum of 300 euros or thereabouts (considerably more than the 50 euros quoted).
with usually a minimum of 300 euros or thereabouts (considerably more than the 50 euros quoted).
Well sorry, but that's what I just paid.
If someone asked me for €300, I'd say that they were taking the ****. Silly money - take no notice. OK, I probably got a good deal, but your "minimum of 300" is daft. Very daft.
Try the one percent then!
€300 equates to a property valuation of only €30,000.
Now that is taking the pi55
Then add another 8 or 10% for the agency fees.
Nice work (or lack of it) if you can get it
Why all this agression?
I have worked with French estate agents for the last six years and the fee charged for an 'estimation' is as quoted, except where a vendor mandates a property to the agent to sell, in which case it is of course free (as stated in my post). This is part of the process of arriving at a market price for the property.
I don't think it is particularly helpful to reply to forum questions saying 'I paid this, I paid that' and then suggesting it is a general rule. I try to offer information and advice based on my experience in the property business here. I have a longer article appearing in the June issue of French Property News about the process of propery valuation, which may help those interested.
Valuing property is not an exact science. In the UK anyone bar anyone can become a FNAEA it is an altogether differing matter being an FRICS.
In the UK you have comparables so hence a Wimpey or Persimmon estate would have comparables for sales within the last year or so and privately UK estate agents keep watching briefs as to what the other is offering property at.
Here how can you compare? Lotissements yes but country and village houses? When we lived in Normandy a French base (but english agent) gave me the come on at a huge price and yes I was stupid in asking her with others to sell the house and I should have known better particularly as my bag is the law.
In the end there was an agreement to sell but not through agents but privately and through our web site and some 15% less than the agent suggested.
Whether you pay and what you pay for a 'valuation' here is a matter of personal choice and both the price and the choice is your decision and your decision alone. However 'attacking' others on this site for having an alternative view is again a matter of personal choice but not to be encouraged.
I am now expecting a whole raft of emails suggesting that the legal profession in the UK overcharges for its services. But at least the system is regulated.
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