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Old 24th June 2009, 11:02 AM
Matou Matou is offline
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There is a possibility provided you are not in a hurry. Choose several areas and look at the "ventes judiciaires" (auctions) you might be able to find someting interesting in your range of price. Normally the final price is arround 60 to 80 % of the market value. Lists of the properties to be sold are published at the Court (Tribunal de grande instance) in every district. The potential buyers are normally allowed to visit and to consult the "cahier des charges" (comprehensive document including all the legal and practical informations). To participate you need an Avocat from the local Bar and a "chèque de banque" (certified cheque) of 10% of the value of the "mise à prix" (begining price) that will only be used if you win the auction. The buyer is also supposed to pay the "frais taxés" (expenses related to the auction) but they are generally not enormous and you are informed of their value before the auction. Another thing to mention is that you will have to pay some taxes (droits de mutation) to the State but no notaire will be involved (that's less fees) because the judgement of the auction has the legal value of a title of property. Good luck!
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