The advantage of Freehold lies above all in the ease of understanding for a buyer, and the maximum level of legal security. 📈
A purchase in » Foreign quota » is comparable to the purchase of an apartment in France, except that the transfer of property is not done through a notary, but directly at the Land Office in the presence of the seller and the buyer. 🤝
A « freehold » purchase is equivalent to having an unrestricted title in one’s own name that is indisputable. The procedure for a freehold purchase is very well regulated by law, with mandatory supporting documents to be provided by both parties.
⚠️ It is therefore difficult to find a « disadvantage » to the purchase in Freehold, except, finally, the obligation for the buyer to prove that the apartment is bought with foreign currency. It is therefore necessary to keep the necessary proof of transfer (or exchange), and specific bank receipts.
Transfer taxes also apply, which depend on the age of the property and the length of time the seller has held it. They vary globally between 5 and 7% of the value of the property.✅
