"Seller Financing"

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"Seller Financing"


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  #1 (permalink)  
Old 23rd May 2019, 12:49 PM
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As regular followers will know, the voyage aboard HMS Clicky is rarely on calm seas...

Madame & I part company (again ) at the end of the month, and I'm looking to put together a deal to buy the house.

"Seller Financing" looks to be the only option, and as the sums involved are relatively small, I aim to pay off the loan in the next few years.

I'm sure I remember one of the 'regulars' on here mentioning (as an aside within a thread) that they had gone down this route with their (unrelated) seller.

Does anyone have any experience of this, or know of a website where you can buy the legal template downloads that we could use to draw up our agreement and my 'promissory note'.

I would go into the Notaire's to get the signing witnessed (any ideas of costs?), but I don't have the funds to pay for the whole agreement to be drawn up. TIA.

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Old 23rd May 2019, 03:45 PM
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I must have missed an instalment.
I thought you had already bought a house, with a ballon that refused to produce hot water?

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Old 23rd May 2019, 05:26 PM
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Originally Posted by Clic Clac View Post
As regular followers will know, the voyage aboard HMS Clicky is rarely on calm seas...

Madame & I part company (again ) at the end of the month, and I'm looking to put together a deal to buy the house.

"Seller Financing" looks to be the only option, and as the sums involved are relatively small, I aim to pay off the loan in the next few years.

I'm sure I remember one of the 'regulars' on here mentioning (as an aside within a thread) that they had gone down this route with their (unrelated) seller.

Does anyone have any experience of this, or know of a website where you can buy the legal template downloads that we could use to draw up our agreement and my 'promissory note'.

I would go into the Notaire's to get the signing witnessed (any ideas of costs?), but I don't have the funds to pay for the whole agreement to be drawn up. TIA.
Have a look at these sites

Le crédit vendeur
Nos Fiches Infos

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Old 23rd May 2019, 05:53 PM
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Hi Dear Clicky

Can't help with tbe technical aspects of house purchase, but I'm very sorry to hear about your personal problems. Drop me a PM if you want to share....a problem shared is a problem halved, eh?

DejW

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Old 23rd May 2019, 06:51 PM
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Clic Clac - it's still the sale of a house so a notaire will have to be involved in that regard. I would suggest you both have a look at the links I provided above, have a serious discussion with a view to agreeing a way forward, make notes on what you agree to and contact a notaire. There may be some advantage in using the notaire who handled the purchase.

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Old 23rd May 2019, 08:07 PM
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Originally Posted by EuroTrash View Post
I must have missed an instalment.
I thought you had already bought a house, with a ballon that refused to produce hot water?
Hello ET.

Yes......and no.

'We' bought a house last summer, but it is actually Madame's house.

She doesn't like the house, and knows she will wait a long time to sell it.

I love the place, but have no money. Hence ...
als-17 likes this.

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Old 23rd May 2019, 08:15 PM
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Originally Posted by EverHopeful View Post
Clic Clac - it's still the sale of a house so a notaire will have to be involved in that regard. I would suggest you both have a look at the links I provided above, have a serious discussion with a view to agreeing a way forward, make notes on what you agree to and contact a notaire. There may be some advantage in using the notaire who handled the purchase.
Thanks EH. Will have a look at the links.

I presume that when I 'buy' the house, the sale will be treated as if it was anyone else buying it and all the normal registration charges and taxes will apply.

I want to set up (a kind of) lease-purchase where I have the option to buy once the final monthly payment has been made, within the agreed time.

This would then be Mme's capital being returned rather than taxable rental income.

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Old 23rd May 2019, 08:19 PM
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Originally Posted by DejW View Post
Hi Dear Clicky

Can't help with tbe technical aspects of house purchase, but I'm very sorry to hear about your personal problems. Drop me a PM if you want to share....a problem shared is a problem halved, eh?

DejW
Thanks DejW.

Hope you are progressing well in your new place & new life.
I'll try & catch up on the news here a little more once the dust has settled.

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Old 23rd May 2019, 09:13 PM
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Originally Posted by Clic Clac View Post
She doesn't like the house, and knows she will wait a long time to sell it.

I love the place, but have no money. Hence ...
You could do rather well out of this you know. As the seller, she can be held responsible for putting right any botched work done on the house that's not covered by the obligatory guarantees...
No of course you wouldn't even dream of it.
Shame on you for suggesting it ET crawl back under your stone.

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Old 23rd May 2019, 09:22 PM
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Originally Posted by EuroTrash View Post
You could do rather well out of this you know. As the seller, she can be held responsible for putting right any botched work done on the house that's not covered by the obligatory guarantees...
No of course you wouldn't even dream of it.
Shame on you for suggesting it ET crawl back under your stone.
You are correct ET. As you know, I'm much too kind.

I think it's already a good deal because it is a low monthly payment, rising in steps each year, over a maximum of 5 years, but with the option to purchase which means that the 'rent' hasn't taken its usual route down the drain.

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