Make sure you understand the French Leaseback scheme and conditions – it is primarily an investment, and not a “home”. Here are some questions you should ask …
- What is written into the lease agreement after the first nine years or quoted term of lease?
- What are the terms of the renewal or cancellation?
- Is the renewal automatic and will you have to pay a penalty if you do not renew it?
- How much does the French management company charge for upkeep of the property?
- Does the French Management Company have a good financial history?
- Are there any penalties, either in the purchase or the leasing contract if you want to sell?
- Are you free to sell to whomever you chose and free to advertise the sale openly?
- What happens if the management company goes into liquidation?
- Can another company take over the property and if so will you have the same contractual terms?