Life annuity sale for this imposing 1980's villa

Reference: 1804 - 3 Bedroom Villa - €60,000 (for details please see the full advertisement)
Location: Louhans, BRUAILLES

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€60,000 is approximately :

Australian Dollars : $98,080

British Pounds : £54,046

Canadian Dollars : $95,328

Hongkong Dollars : $690,176

Japanese Yen : ¥7,917,291

New Zealand Dollars : $123,388

Swiss Francs : F90,754

US Dollars : $89,123

Please note that these conversions are approximate and for guidance only. They do not constitute sale prices.

€60,000

Bedrooms	Habitable	Land Size
3	145m²	3350m²

3 Bedroom Villa - €60,000 (for details please see the full advertisement) - Location: Louhans, BRUAILLES

Burgundy, Saône-et-Loire, Louhans

This Property is For Sale by Louhans Agence

To find out more about this agent or to view more of their properties visit their IFP Microsite

Description

life annuity sale for this elegant 1980's villa with 145m² floorspace comprised of : entrance, equipped kitchen, summer kitchen, 65m² lounge, 3 bedrooms (2 on the ground floor), bathroom, wc. garage, cellar. Separate 50m² outbuilding used as a workshop.. marble floor, oak parquet floor.
occupied lifelong seller lady 70 years old and gentleman 77 years old.
free market value of the flat 287 000 euros
price: 60000.00€ downpayment plus life annuity monthly payments of 605.00€ per month

PROPERTY PURCHASE AGAINST LIFE ANNUITY IN FRANCE
people over 70 often seek means to increase their income
they can sell a property "en viager" to a buyer who will pay them an "annuity" for the rest of their lives
they will receive an income indexed to the cost of living which will expire on the date of their death.
The sale against life annuity can be either vacant (rare) or occupied (most commonly)
in the latter case Seller remains living in his house for the rest of his life or for a more limited period
The Seller may relinquish occupation at any time in which case life annuity is increased by a further supplement.

WHAT ARE THE ADVANTAGES FOR A BUYER ON LIFE ANNUITY PURCHASE?
property is sold at a lower price
downpayment is often modest
rate of the annuity can often be lower than the repayments on a bank loan
no need to manage a let and no income to pay tax on until such time as the property reverts

ON WHAT BASIS IS LIFE ANNUITY CALCULATED?
Upon signing the transfer of property and bill of sale the Buyer is required to effect the initial downpayment
the balance is payable monthly in the form of life annuity which is calculated on the basis of the following criteria:-

value of the property purchased
amount of downpayment
life expectancy of seller
life annuity is linked to consumers price index and updated once a year

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Features

Bedrooms: 3
Habitable Space: 145 m²
Land Size: 3350 m²
Rural
Village
Outbuildings
Double glazing

Condition and Utility Information

Condition - Restored / Habitable
Roof - Good Condition
Drainage - Septic tank
Water - Mains
Heating - Central heating
Electricity - Mains

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