Credit Vendeur Total sans bouquet

Just had an offer on my house as per above

Anyone know about this scheme?

I am meeting my notaire and doing my research but would greatly appreciate any advice, hear of anyone's experiences with this, learn about pitfalls etc

Sound too good to be true and that makes me nervous!

Thanks for your kind words, Sarah, I try to help where I can, good luck with the sale ;-)

That's what I am thinking too

But she is a canny lass; local business owner but an expert comptable by training so she knows her stuff and will cover her interests

I have also other items I would insist on as my house is a ruin (ish). For example loft insulation, new double glazed windows etc

Thank you so much for your advice; you seem to have gone through so many things during your time in France and I do always greatly appreciate the tips and tricks you give on SFN threads!

Bonne soirée, a glass of rosé and a bubble gum for the brain telly on the menu tonight as up at 6 tomorrow

Plus our association has taken in 6 feral cats who are slowly waking up from their neutering anaesthetics in our care room so am putting house sales to one side and am off to supervise the cages. And no doubt mop up some vomit......

given the rest of the info you've now added (plus value, rent free accommodation) I'd go for it if it can all be tied up properly ;-)

Thanks for the advice and info

Andrew - I would insist on having the first charge. I do know the family as they have been here for generations and own several properties (wealthy rural France family). I wouldn't have a plus value as this is my main residence and the big plus for me is the rent free tenancy that I could have for the duration. But I would insist on a decent payment on signing the compromis de vente otherwise no point. The sale would be handled by a notaire we have both used several times and the monthly payments would be handled by him (at her charge). She is still talking about it with her family so we are far from the negotiating stage

Debra - I have a fixed interest rate for the term and her payments to me would be based on that plus a bit more as my mortgage was for 20 years but she will be buying for 15. I would live here rent free, have my mortgage paid and and have a profit of about 70€ a month; not a huge amount but would cover my insurance and phone bill for example

Damaris - thank you I have already read this article which is clearly written

For info this lady's husband is head of one of the big Paris gendarmerie so I am hoping that means they are honest, law abiding citizens...????

Check out this page's interesting reading..

Be very careful - I did this with an old ruin I just couldn't get rid of a few years ago. Everything stitched up a treat by my notaire (we talked it through first and after 5 compromis de vente not working out decided to run with it). Mine was 100% so she paid almost nothing at the notaire's. i had to pay the plus value at point of sale so was already out of pocket. Things went well for the first couple of years, the CAF effectively paying me direct. But then her OH went and shot someone in the village and went to prison, she took the kids and ran. It took the hussiers a while to find her, they could do nothing as I was on a long list behind people like the Trésor Public et al. It's now in my the hands of a lawyer, I have a charge over the house so I'm forcing it's sale to recover what she owes me. I also took a charge over a second place she had which we'll seize too if needs be. BUT the whole thiongs takes years. Hassle for me but we're talking small money for an old house in a cheap area. You just need to make sure you have the first charge over the house if anything goes wrong. If it does, don't expect to get the money back quickly :-O

à toi de décider... ;-)

You are right Debra it is without deposit, my mistake, I didn't see the sans bouquet .

The potential buyer has proposed to pay full asking price and for monthly repayments to last the same amount of time as my mortgage (15ish years left to go) The monthly payments would be slightly more than my monthly mortgage

I get to live in half the property at zero rent (its a big house that was once 3 buildings) until the end of the term and the ground floor business premises would have a tenant so that she has an income coming in

She said 'sans bouquet' but I would only sign if I got an upfront payment so as to invest it - in case I want to move out for example and need a deposit for a new house

We discussed some basics. She needs an insurance in case of death that is to my advantage and of course if she defaults the property reverts back to me

I have come across similar in England when I worked for company that bought life tenancies although in my case I would not have the right to live here for more than the length of my mortgage term

I am now waiting to see my notaire but it is always good to get opinions from people who know about or have used these schemes

The buyer will pay cash at least 50% or more and the remaining balance is due in installments for the next 2 to 3 years, it is very important for the notaire to stipulate in the contract the due dates, the amount and the interest rate.