Income Potential 14 bedroom House for sale with countryside view in Saint Amand Magnazeix, Limousin
Situated in the heart of the Limousin countryside with easy access to the A20 motorway, train stations and the airport of limoges, is this collection of buildings.
House 1 comprises of a living room, dining room with wood stove, fitted kitchen, wc, and veranda. On the 1st floor are 3 bedrooms, one with
en-suite bathroom and a family bathroom, and 2 bedrooms and a bathroom on the 2nd floor.
House 2 includes a kitchen, dining room, living room with wood stove, and bathroom adapted for disabled people. On the 1st floor are
5 bedrooms and 2 bathrooms.
House 3 has a kitchen, living room and dining room with wood stove, and 2 bedrooms and a bathroom on the 1st floor.
House 4 has a kitchen and living room with wood stove with 2 bedrooms and a bathroom on the first floor.
The 4 houses all have a terrace behind them with access to the heated 11 x 5m swimming pool, a covered terrace with Jacuzzi and a 5th house which has been created as a bar - games room and gymnasium with shower room and bedroom.
At the back of the pool is a terrace with barbecue and a large grassed area overlooking a small pond.
In front of the houses is a large barn and a covered car park for the houses.
Ideal opportunity to create a gite business.
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Where is this property?
This House is located in Saint Amand Magnazeix in France
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Buying a Property in France
1. Signing the Agreement (Compris)
On finding a property you wish to purchase you will need to negotiate the terms, price and conditions of the sale with the owner.
The next step, once you are in agreement, is to sign the preliminary contract (Compromis de Vente). This is a legal document and after ten days will be binding on both parties. Rules change frequently in France and it is best to consult with your notary about when this period starts. Generally the compris will be signed in France with the Agent.
Variants can be included in the compris, for example an Acte (clause) can be added if the name or names to go on the title deed have not been finalised. If a mortgage will be required to purchase the property, the details for this, including the name of the mortgage company, must be on the compris.
2. Paying the Deposit
Generally the deposit will be 10% of the agreed purchase price. This will normally be paid to the notaire. There are exceptions to this, if the agent holds a carte professionelle, is bonded and fully registered then you may pay them, but do not hand over the deposit to anyone else. If for some reason the purchase does not go through, for example, if you write to the notaire and the agent that you do not wish to go continue with the purchase before the contract is binding (within seven days of signing the compris), then your deposit would be repaid. This would also apply if a condition had not been met, or the mayor or S.A.F.E.R. (a government agency that has the right of first purchase on most rural property that comes onto the market in France) could oblige the purchaser to give way. If you decide after the seven days 'cooling off' period that you do not wish to complete the purchase and pull out of the sale you would lose your deposit. If however the vendor pulls out of the sale then you will receive your deposit back plus the same amount from the vendor.
3. On Completion
Generally it will take around two or three months to complete the purchase.
During this time the balance of the purchase money must be paid into the account of the notaire, this must be done well ahead of the completion date. The notaire will prepare the documents, check that the deed of sale (Acte de Vente) is in order and have the legal title ready to be signed over. It is possible to have someone sign on your behalf if you give them power of attorney. An interpreter may be of use at this point if your French is not very good and many Notaires will suggest (or insist) that an interpreter is with you.