Le Groupe Gryphon SAS

Le "Viager" - Life annuity real estate sales in France

"Viager" sales represent an important sector of real estate transactions in the French marketplace.

The calculations for a "Viager" sale takes into consideration
- the free market value of the property
- the life expectancy of the Seller
- brokerage commissions involved
- notarial and registration fees for taking title of property
- projected rate of Buyer's annual real estate tax for term
- estimation of Buyer's projected quota for term

From this data an official calculation will be generated containing a purchase price ("bouquet") and a monthly life annuity amount to be paid. These two figures can often be negotiated with reciprocity.

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What is the "Viager"?

The "Viager" contract is characterized by its basic spirit of fairness to both parties. This balance is achieved by the inherent equality of opportunities and risks on both sides of the transaction.

On the Buyers side, the risk consists of the uncertainty of the Seller's life expectancy and consequently how long the commitment to provide monthly annuity payments can last, and how long it would be before they would have unfettered access to the property.

On the Sellers side, the risk consists of receiving monthly annuity payments for life while uncertain of their life expectancy and whether they will be able to retrieve the full value of their estate.

What is the difference between a "Viager Libre" and a "Viager Occupé"?

"Viager libre" products are very rare and quite lucrative. These are free life annuities (Seller not inhabiting the property) which can be occupied and/or rented by the Buyer immediately; yet they can be bought far below real market value.

These products are also highly in demand as an immediate rental income return is possible from the day of title transfer with the rental income often covering the entire monthly annuity commitment to the Seller.

"Viager Occupé" products are most frequently available on the market and are standard occupied products which you will not be able to occupy, rent or sell until the death of the Seller. They represent a long term investment with a secure capital gain return.

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Le Groupe Gryphon SAS
23, rue Balzac
Paris
75008
France

http://www.legroupegryphon.com/