Condominium fees
How does the acquisition work?
To buy a property in France, you must first find a property that fits your needs and budget.
You can search for ads online, check out All RES or ads in local newspapers.
Once you have found a property that interests you, you will have to negotiate the price with the seller.
If you agree on the price, you will have to sign a sales agreement, which is a preliminary contract that commits both parties to sell and buy the property.
Then you will have to pay the notary and real estate agency fees. Finally, you will have to sign the final deed of sale in front of a notary to finalize the purchase.
In the event of the purchase of a condominium property, it is necessary to plan for the charges that are generally payable quarterly.
What are condominium fees?
Condominium fees consist of expenses necessary for the maintenance and management of a condominium.
These expenses may include staff costs (such as a caretaker or janitor), maintenance of common areas (such as elevator, stairs and gardens), property taxes, insurance, energy costs for common areas, among others.
Owners of apartments or condominiums are required to pay these charges according to their share of ownership of the building.
Is it mandatory to pay your charges?
It is mandatory to pay the condominium fees if you own an apartment or condominium.
These charges are necessary for the maintenance and management of the building, and all owners are responsible for paying them according to their share of ownership.
If you do not pay your condominium fees, you could be sued by the co-ownership or by the syndicate of co-owners, and there could be penalties or unpaid interest.
It is therefore important to pay these charges on a regular basis to avoid any problems.
Robert Kiyosaki
What happens in case of non-payment of charges?
There are different options that may help, such as:
- Ask for your payments to be spread over a longer period to help you manage your finances.
- Request a temporary reduction in your expenses if you are going through a difficult period (for example, unemployment, illness, etc.).
- Apply for financial assistance from public or private organizations.
- Sell your property if you can no longer afford it or in case of financial difficulty.
It is important not to ignore the problem and to contact the trustee or building manager as soon as possible to discuss your options.
Need a
estimate of your property?
The valuation of an asset is an essential step in the transaction process, which is why, it should not be taken lightly, the software is an excellent tool for pre-estimation.
In order to know the current market value of your property, contact us!
You will be put in touch with one of our collaborators, expert in his sector, he will be able to take into account different economic elements, the latest sales, and correlate all this with the searches of buyers for a quick intermediary and price.
We will send you an estimate in 48 hours.
Posted on 19/01/2023 by
