FAQ

  • My expat
    In which cities willI I be able to invest ?

    My expat provides its services in Paris, Lyon and Bordeaux.

    What is my expat ?

    My expat is a service dedicated to helping French expats invest from abroad without ever having to return to their home country. Since we organize everything for you, all that will be required of you will be a decision.

    How does it work ?

    You provide us with the main outlines of your project, we assess your borrowing power and project feasibility and organise everything for you. There will be no need for you to return to France, since we will take care of everything : property hunting, viewings, notary signatures and loan rate negotiation.

    How will you get in touch with me ?

    We offer 3 channels of communication in order to provide you with the greatest amount of flexibility : email, phone or Skype.

    For which investment schemes does My expat provide support ?

    My expat is specialized in the acquisition of established properties in Paris, Lyon and Bordeaux. We can help you find a holiday home or your next investment property. We do not, however, deal with off-plan property acquisitions.

    With whom will I be in touch ?

    A dedicated sales representative will be in charge of getting your project up and running. It will then be handed over to a dedicated project manager who will be your main contact person for the rest of the project.

    Who are My expat’s partner companies ?

    My expat has established a number of partnerships to provide assistance at every stage of your project : real estate agencies, notaries, lawyers, brokers, credit insurance providers, banks, home insurance providers, rental management companies, craftsmen and interior architects.

    What fees should I expect ?

    There are several types of fees to be expected when investing in real estate : notary fees (approx. 8%), loan application fees (systematic for non-residents) and handling fees for the bank providing you with the loan (amount varies from one bank to another).

  • Feasibility study
    Which conditions need to be met before I can start my project ?

    Before we set your project in motion we will need to fix a budget and determine how to fund your project. The first step is therefore to set a budget, the second step to ensure that you can borrow enough to fund your project.

    How do I find out how much I can borrow for my project ?

    Calculating your borrowing power entails taking into account your monthly expenses and net monthly income (fixed amount). If your monthly expenses (namely, the rent) account for more than 35% of your net monthly income you have very little chance of contracting a loan in France. If they account for less than 35%, feel free to get in touch with us in order for us to calculate your borrowing power.

    How does My expat verify the feasibility of my project ?

    We use a three-pronged approach : 1) First, we check that your budget is in line with your financial capacity 2) Secondly, we check that the surface matches your budget 3) Finally, we make sure that your rental return objectives are in tune with the state of the French property market at that point in time.

  • Property hunting and viewings
    How does My expat hunt for properties ?

    Nothing is ruled out where property-hunting is concerned : we use every means at our disposal. Available channels include : real estate agency networks, direct purchases and professional networks.

    How many properties do you view, on average ?

    We view approximately 7 flats leading up to the moment when our customer makes an offer. Sometimes, first time’s the charm – other times, mostly due to the complexity of the project, several property viewings can be necessary.

    I am planning to travel to France. Can I view the properties myself ?

    Yes, you can view the properties yourself if you happen to be in France.

    Can a person of my choice perform a second property viewing ?

    Yes, you can absolutely ask us to organise a second viewing with the person of your choice.

    Will My expat help me negotiate the property price ?

    Yes. My expat will help you on the following occasions : (1) before you make an offer, by providing you with the advised amount to put in and (2) when you make an offer, by backing your offer and convincing the seller to accept the offer.

    What happens if I come across a property that sparks my interest ?

    If you come across a property, you can send the details to us and we will go and view it as we would do any other property.

  • Notary
    What is the notary’s role ?

    The notary acts on your behalf and organizes the signing of all documents relating to the transfer of ownership. As such, he represents the French state and ensures the veracity of all information pertaining to the project and the transaction.

    Can I be represented by my a notary of my choosing ?

    You may request to be represented by your own notary, but we advise against it. My expat’s notaries are used to dealing with expats and working at our side. My expat currently employs the services of two notaries in Paris and Lyon and one in Bordeaux, with whom we have established a number of processes devoted to non-residents.

    To how much do the notary fees amount ?

    Notary fees vary according to the price of the property but amount to approximately 8% of the purchase price.

  • Project financing
    What are the different steps involved in the financing of my project ?

    Financing is a 5-step process:

    1. submitting the loan application request,
    2. gathering the requested documentation for the application,
    3. applying for loan protection insurance,
    4. receiving the loan estimate and finally,
    5. awaiting the release of the funds.
    How does My expat help me organize the financing of my project ?

    My expat will ensure the follow-up of all aspects of the various stages of your application, advise you on rather your financing terms and loan rates are good or not, generally ensure that your application goes smoothly and make sure that your loan goes through within the timeframe established by our notaries.

    How can I finance my project ?

    There are 3 way for you to finance your project according to your personal situation and your strategy :

    • you pay in full, bringing the entire amount to the table you borrow part of the amount from your bank (if you have kept a bank account open in France)
    • you borrow part of the amount through a broker
    How do I choose a loan protection insurance provider ?

    You have two possibilities : either (1) choose the loan protection insurance from the same bank from which you contracted the loan or (2) choose a third-party insurance which can often prove to be the cheaper option. The bank must then approve the request in order for you to move forward with the loan.