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 Post subject: Sold
PostPosted: Wed Nov 15, 2017 1:21 pm 
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Location: somewhere in the "pays de dropt"
Yippeeeee,
after five years our fermette in the Lot is sold, buyers signed Friday last.
We have taken a rather large loss on purchase price plus renovation materials, the first loss in over 50 years of building, purchasing and selling property,but what the hell we can now move on and pay someone to do the heavy works here to finish renovations on this our last home.

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 Post subject: Re: Sold
PostPosted: Wed Nov 15, 2017 1:57 pm 
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Location: Here and there, SW France
Brilliant! Especially in this dull market. Everyone in the Lot is having to come down in price it seems.

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 Post subject: Re: Sold
PostPosted: Wed Nov 15, 2017 4:22 pm 
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Joined: Tue Feb 03, 2009 12:08 pm
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Location: Basel and Suffolk
Out of interest - how much do you all recon prices are being reduced from asking?

J

p.s. well done!


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 Post subject: Re: Sold
PostPosted: Wed Nov 15, 2017 4:37 pm 
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Location: somewhere in the "pays de dropt"
There are still a lot of properties for sale between here and our one in the lot 2.5 hrs by road which were on the market when we bought here.
Some we know are half the first asking price.
We dropped ours in stages over the years by 50 thousand.
Brexit made a huge difference as so many decided to return to the UK .
Around our ex nearest town, Gramat northern Lot there's two thousand properties on the market

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 Post subject: Re: Sold
PostPosted: Wed Nov 15, 2017 5:11 pm 
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Location: The Republic of Limousin
Well done, Papi!
Loads of houses for sale here to in 87, so we'll undoubtedly have to drop our price yet again.
French buyers, by any chance?

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 Post subject: Re: Sold
PostPosted: Wed Nov 15, 2017 5:39 pm 
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Location: somewhere in the "pays de dropt"
MAD87 wrote:
Well done, Papi!
Loads of houses for sale here to in 87, so we'll undoubtedly have to drop our price yet again.
French buyers, by any chance?

Yes a young couple in early thirties, who live about 10 k away he's a paysagist, she works in a restaurant, they have a .CA loan of 200,000 over 25 years promised and signed.

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 Post subject: Re: Sold
PostPosted: Wed Nov 15, 2017 6:07 pm 
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Location: Gers 32
We think ours is sold too - but a very vague situation. At least they've paid the deposit, it's been going on since early July, and they've only visited once. A couple in their early 60s from south of Paris.
We'll see, I don't want go :(
Like Papi and MAD, there are hundreds of similar houses for sale in the Gers. We dropped our price by about 30% of price paid plus cost of renovations. We didn't pay much for it, it's very basic, but suits us.


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 Post subject: Re: Sold
PostPosted: Thu Nov 16, 2017 8:34 am 
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Location: The Republic of Limousin
Patf wrote:
We think ours is sold too - but a very vague situation. At least they've paid the deposit, it's been going on since early July, and they've only visited once. A couple in their early 60s from south of Paris.
We'll see, I don't want go :(
Like Papi and MAD, there are hundreds of similar houses for sale in the Gers. We dropped our price by about 30% of price paid plus cost of renovations. We didn't pay much for it, it's very basic, but suits us.

Well done to you too :-bd

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 Post subject: Re: Sold
PostPosted: Fri Nov 17, 2017 3:33 pm 
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Well done, Papi and Patf - it's such a relief to get that contract signed. At least you know that if the buyers pull out you'll get some decent compensation - but it rarely happens in France.

I look occasionally at houses for sale in the area we moved from, and there are loads still on the market that were for sale when we sold. The market for farmhouses with a bit of land completely dropped off and no doubt Brexit has not helped. We had to drop our price, but we didn't lose. Only one offer in 3 years but it was the right one ...


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 Post subject: Re: Sold
PostPosted: Fri Nov 17, 2017 3:43 pm 
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Location: somewhere in the "pays de dropt"
We had two offers in five years, the first who were desperate for us to sign hadn't even put their house on the market, when I suggested that they get a bridging loan they were agahst. Perhaps I should have and made over 20,000 out of them :D
The purchasers were three months negociating, I wouldn't even respond to their first offer considering it an insult, but they slowly up their offer.
Final due end of January next.

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 Post subject: Re: Sold
PostPosted: Fri Nov 17, 2017 5:01 pm 
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Location: The Republic of Limousin
We had several offers earlier this year (all French), one of which we accepted but the offeror then disappeared, never to be heard from again....

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