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Buying a home in France can be a complex process. From finding your dream home to relocating to France there are many hurdles to overcome before you can relax and enjoy the lifestyle and beautiful environment that France is renowned for. In Part 1 of this series, Oliver Phillips of PFS France
( http://www.propertyforsalefrance.co.uk/ ) walks you through the process of finding and making an offer on your dream home in France.

Finding your new French property is the first hurdle. Assuming you have an idea what you want, in which location and how much you can afford, the easiest route to searching for properties is often via the Internet using a reputable French property website. The advantages are obvious; a good website will not only offer a large database of properties currently for sale, they will offer multiple photos of the property’s exterior, interior and grounds together with comprehensive narrative about the property itself. Also it will often have a search facility through which you can view properties that match your specific criteria, and often offer additional benefits such as email notification of new properties, newsletters and other information to help you in your search. Of course the big advantage is that you can build a shortlist of potential properties without having to visit France, saving you money from the start. Whether you use the Internet or not, when considering a property, make sure you get photos and information before you view the property. You can cut down on wasted trips and expense this way.

When buying a property in France, unlike in the UK, it is often normal for the Buyer to pay all the fees. These comprise the estate agent fee and the notary fee (who perform the conveyance). Fees can be around 15% of the purchase cost of the property, which on a €150,000 purchase represents an additional€22,500 in fees. If you can deal direct with the owner, and not buy through an estate agent, you could save around 6% or€9000 on the same €150,000 property. This is an increasingly popular option and is possible since sellers are not tied in to a single agent. Again you are likely to find properties advertised for sale by owner on a French property website such as PFS France.

If you are looking for good value for money, consider looking for property in areas that you haven’t previously visited and are not familiar with. Certain areas command premiums only because they are widely known and popular. You can often get an equivalent property in another region for much less.

You should also consider getting to know the area before you buy. Talk to people who have already purchased their home, holiday in the area, or even rent for a period and meet the neighbours before you finalise your decision. As with any property purchase, your neighbours will be a part of your life once you’ve bought your new home.

Try to negotiate. Contact a local valuer to get an impartial opinion. This will cost money, but will provide you with a neutral view of the properties value, and possibly a stronger bargaining position so may pay for itself many times over.

Most importantly, consider taking independent legal advice, through another notary or a UK based specialist. The vendor instructs the notary who acts in the sale of the property. They are acting in the conveyance of the title only and not for either side. You would be well advised to appoint a specialist to act specifically in your interest, and finally, just as in the UK get the property inspected by a qualified buildings surveyor. Unexpected bills could take the shine off your dream home very quickly.

About The Author: Oliver Phillips works for PFS France ( http://www.propertyforsalefrance.co.uk/ ) a business that helps French property owners advertise and sell, and potential buyers find, some of the finest and best cared for traditional French properties available.

Copyright 2005 Oliver Phillips.

Too many consumers get frustrated when a ding on their credit score delays the process of closing on a mortgage or completing a home equity loan. Before you start shopping for financing, understand these four important tips.

Review Your Credit Score. Nearly every bank, credit union, and mortgage lender relies on a three digit score provided by one of the three major credit bureaus to help them make lending decisions. A credit score can range from the perfect 850 all the way down to the abysmal 300. Scores under 720
may not qualify for the best interest rates, so you should check your credit scores with all three bureaus before shopping for a loan. You may discover you have some cleaning up to do before you can take advantage of a great loan deal.

Scan Your Report for Mistakes. Though some consumers struggle with debt, many more would-be borrowers suffer needlessly because of mistakes they made in the past or mistakes that credit bureau systems made when compiling their reports. To avoid embarrassment and wasted time during the loan origination process, you should review your report carefully before you start shopping for loans. Dispute any inaccuracies both with the credit bureau and with the creditor using certified mail. If you find any long-lost bills you left unpaid, pay them. A bill as insignificant as 0 can actually stall or derail the closing process, costing you the chance to buy your dream home.

Avoid Credit Applications. In the weeks leading up to your home purchase, you may consider switching banks or responding to attractive credit card offers. Resist the urge to earn those frequent flyer miles, because a flurry of applications can show up on your credit report simultaneously. Therefore, lenders may grow concerned about potential identity theft. Even worse, lenders might assume you’ve lost control of your spending, making you an unsuitable candidate for a home loan.

Do All Your Shopping on the Same Day. For the same reasons, you should choose one day to make inquiries from your favorite mortgage lenders. A few weeks after your inquiries, your applications will show up on your report and drag down your score by a few points. Because the bureau assumes that
every application may result in an approval, the amount of your potential debt load increases significantly. In addition, the market changes so frequently that quotes made on different days cannot be compared directly. Be prepared to make your phone calls, run the numbers, and accept a
locked pre-approval all on the same day.

Kevin Adelsberg is a writer for FDLoans.com. For additional articles and an extensive resource
for everything about loans, please visit us at: http://www.FDLoans.com

Copyright © 2005 Kevin Adelsberg
FD Loans http://www.FDLoans.com

Your home doesn’t just give you shelter from the elements. It can also buffer you from financial storms, by absorbing the blow from unexpected events like illnesses and job losses. Naturally, cashing out equity from your home should be a last resort. But, when it comes time to draw on your home’s value to keep your family going, will you get better results from a refinance or a home equity loan? Follow these steps to figure out which option works best for you.

Think About the Long Term. Estimate how long you expect to stay in your current house. Depending on the severity of your situation and the real estate market at the moment, you might even want to consider selling your home altogether and taking on a short-term rental in your new locale. If you expect to stay in your current home for a few more years, the flexibility of a home equity loan may work for you. Otherwise, a refinance can restart the clock on your fifteen or thirty-year term.

How Much Cash Do You Need? A flexible home equity loan or line of credit may allow you to write checks for only the amount you need to get by. If you experienced a job loss, you can borrow against your equity in smaller chunks and repay your loan quickly once you get back on your feet. If you or a family member suffered a medical emergency that will permanently reduce your income, you may want to refinance your house to accommodate your new budget.

Will Your Equity Drop Below Twenty Percent? In an extreme situation, when you need to borrow so much money that your equity will drop below twenty percent, you may have to accept a home equity loan to prevent expensive personal mortgage insurance from kicking in on your primary mortgage.

Can You Handle the Expenses? Refinancing may make the best long-term sense, but your current condition may leave you without the cash flow to accommodate fees and closing costs. If you can find a lender who can refinance your home with no closing costs, you may find yourself facing a higher interest or even a prepayment penalty that locks you into that mortgage for life. Although a short-term home equity loan may carry a higher interest rate, you may be able to pay it back fairly quickly and avoid some of the long-term expenses it brings.

Earl Baker is a writer for RefinanceFinds.com. For additional articles and an extensive resource
for everything about refinance, please visit us at:http://www.RefinanceFinds.com

With all the stories of people making tremendous amounts of money in real estate it’s no wonder why so many are looking at real estate as an investment vehicle. It offers more security than the stock market, provides great potential returns, offers tax benefits and let’s not forget; it sounds cool to be ‘in real estate’. Everybody can buy and sell stocks from their phone or computer these days. But real estate, now that’s something else.

One of the challenges that many are faced with is putting up the money to acquire a piece of property. Although in reality this is usually not the biggest obstacle. You might say “Hey, what do you mean, not an obstacle. I would love to invest in real estate, but I just can’t afford to!” The point is that hardly anyone who buys a piece of real estate has enough money in their account to pay for it. That’s where your banker comes in. Let’s face it. Do you know anyone that owns their own home? I mean truly own it? Probably not. Sure, you know a lot of people that have a house to their name, but wait until they get
behind on their monthly mortgage payments and you will soon find out who really owns their house. That’s right, the bank. So if these people can use the bank’s money to buy a house, why can’t you?

Now ‘owning’ your own home may sound like a somewhat obvious way to get started in real estate, but it is also a very good way to do so. You might say “Duh…” But apparently this little step is overlooked by a lot of people. Just take a look at how many people are still renting a property instead of buying one. Now of course the relation between rent and housing prices varies from country to country and even from area to area. But wherever you go you will still find people renting, because in their mind “they don’t have enough money to buy a house.” In reality it would be much cheaper for them to buy!

When you rent, you are pretty much flushing your money down the toilet. Of course you are getting the pleasure of living, but the point is you’re not building anything long term. Every dollar you spend on rent is a dollar you will never see again. Whereas if you own your own home, instead of paying rent you would be paying for your mortgage. Even though there is a lot of variety in mortgages these days, the basics of practically all mortgages are more or less the same. Every month you make a payment which consists of two parts: interest and principle. The interest part can be compared to rent. Those dollars are gone with the wind and you will never hear from them again. However, the part of the payment that goes to the principle is money you keep. Every dollar that is used to pay off the principal is a dollar you put in your own pocket.

So if you’re thinking about getting started in real estate and you don’t ‘own’ your own house yet… Change it, and get some experience. It’s a great first step towards building your capital and in many cases, it just makes more sense financially. It can also supply a range of opportunities for accelerating the process of building your net worth. When real
estate prices go up, so does the value of your property. Whereas the money you owe the bank, your mortgage, remains the same. In other words this helps you build your net worth. Compare this to people that are paying rent… Their net worth does nothing. However their landlord’s net worth is doing very nicely in this scenario and he or she will probably love you for it. So if you get a warm fuzzy feeling about making somebody else rich at your own expense… Keep renting. If you would rather build your own capital instead… Buy your own house!

Many home owners have accumulated more money through appreciation of their property than by working a full time job for many years. Now before you go out and buy the first
property you lay eyes on, don’t forget that some security measures are in order here. As you may or may not know, real estate prices do not always go up, and certainly not in a
straight line. Yep, this can be shocker to some people, as well as an ugly reminder for those who overlooked this minor detail in the past. If for some reason you would have to sell your home in a down market, it can be a costly adventure. You wouldn’t be the first to end up with a house worth considerably less than the mortgage resting on it. So make sure to keep some slack. In the long run real estate prices have always been on the rise, but in any cycle there are down periods. By keeping some slack and being patient you will be able to sit through these times and profit from the long term up-trend.

This article provided courtesy of http://www.arizona-real-estate-shopper.com

Spain and Portugal have suffered one of their worst droughts on record this summer, with consequences from empty swimming pools for the tourist to economic disaster for farmers losing their
crops and livestock.

Roger Munns, Managing Director of Tribune Properties, predicts that property prices in the two European countries could drop as much as fifteen per cent in some areas as more owners decide to put their villas and apartments on the market.

‘For many owners of second homes the original motivation to buy was to have somewhere they could spend time in a relaxing environment. Coupled with the thought of a good investment for the future, the market for overseas homes from buyers in the UK, Germany and Scandanavia has really taken off in the last twenty five years.

But soaring temperatures and a strain on the water supply could have consequences for their rental returns next year, which many owners rely on to meet their overseas mortgage.

Many holidaymakers want to rent a villa with a pool – but the attraction soon goes if the pool is empty. Some golf courses are having to cut down on watering their greens too, and it won’t take a big fall in tourism to mean the difference between breaking even and not being able to meet the mortgage commitments for some overseas property owners.

This autumn could see more properties than usual being put on the market, with a consequential fall in prices’.

Early warning signs of a potential fall in property prices have already been seen on the Spanish Mediterranean island of Menorca, which has enjoyed better rainfall this year than the Spanish mainland and no water restrictions, but some villas being cut in price by over ten per cent.

Water restrictions on the mainland are having an impact on potential villa buyers, with many questioning the value of a swimming pool when they might not be able to use it.

Portugal has recently asked Spain for 6 million Euros in compensation, as water levels in the River Douro which runs through both countries fell below limits established in a bilateral agreement,with Portugal coming close to accusing her neighbour of stealing her water.

Good Time to Buy
‘For anyone considering buying a property in Portugal or Spain, this September and October could be the ideal time to buy’, say Tribune Properties. ‘Unusually many properties were being reduced in price in August, traditionally a good month for sales.

We normally see villa and apartment prices being dropped mid September onwards when the tourists and potential buyers are thinner on the ground as some owners are keen to sell and don’t want to wait until the following Easter before having a real chance of selling again.’

The drought isn’t the sole cause of property prices falling add Tribune Properties, saying it has accelerated price falls and come on top of an already poor year for many estate agents in Europe.

‘A good barometer for European property are the tax havens of Monaco and Andorra which don’t rely on ‘tourist’ buyers, but usually have a steady supply of buyers interested in taking advantage of the zero income tax rate. Andorra is in the Pyrenees and has no water supply problem – but estate agents were twiddling their thumbs this summer waiting for buyers to show – and they didn’t.

Monaco similarly has had no water supply problems, but has also seen a lack of buyers. The tourists are still visiting the Principality and hotels in Monaco and Monte Carlo have been as busy as ever, but again there is a lack of serious property buyers, and negative property inflation is quite possible in Monaco this year for the first time in a decade.

With more property available on the market we would suggest buyers draw up a list of three or four villas they have viewed and liked, and then suggesting to the owners that they would consider buying at fifteen per cent below the advertised asking price to see which ones are prepared to consider it.’

Sea Water
One possible answer to secure the long term tourist trade and consequential property market is to follow Malta’s example of building desaliniation plants, converting sea water to drinking water, sometimes known as ‘reverse osmosis’.

The Mediterranean island competes with Portugal and Spain for the attention of second home buyers, and has a healthy tourist industry – despite having no rivers and low rainfall, allowing the island to function normally even in drought conditions.

The water from this source can be used for agriculture and ensuring adequate reserves to fight forest fires for example – it might just be the answer too for the swimming pools and golf courses – and would allow a plentiful supply of high quality for domestic use.

About The Author: For details of hotels in Monaco, Monaco’s
weather, a map of Monaco, the Grand Prix and direct contact
details for the Hotel de Paris, Columbus Hotel and others visit
http://www.yourmonaco.com For property and real estate in Malta
http://www.maltaproperty.info and for property in Andorra
http://www.propertyandorra.com