LF HONFLEUR

Reference: LF HONFLEUR - 4 Bedroom Farmhouse - €300,000 (LIFE ANNUITY SALE 300000 EUROS DOWNPAYMENT PLUS LIFE ANNUITY MONTHLY PAYMENTS 2416 EUROS)
Location: Honfleur, FATOUVILLE GRESTAIN

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€300,000 is approximately :

Australian Dollars : $490,400

British Pounds : £270,231

Canadian Dollars : $476,639

Hongkong Dollars : $3,450,881

Japanese Yen : ¥39,586,456

New Zealand Dollars : $616,941

Swiss Francs : F453,772

US Dollars : $445,617

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

€300,000

Bedrooms	Habitable	Land Size
4	200m²	85000m²

4 Bedroom Farmhouse - €300,000 (LIFE ANNUITY SALE 300000 EUROS DOWNPAYMENT PLUS LIFE ANNUITY MONTHLY PAYMENTS 2416 EUROS) - Location: Honfleur, FATOUVILLE GRESTAIN

Lower-Normandy, Calvados, Honfleur

This Property is For Sale by FGP CEV
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Highlights

LONGERE CHAUMIERE NORMANDE BY HONFLEUR
WONDERFUL PROERTY SUITABLE FOR GITES CHAMBRES D HOTES OR PERSONAL USE ON 8 HECTARES LAND FOR HORSES

Description

a wonderful real estate property by Honfleur (Hameau de Jobles) with 8 hectares land for horses - several outbuildings - natural water source lake - about 200 m2 in main landlord house plus outbuildings which can be suitable for further rooms for guest - horses and riding school possible - patricularly suitable for investment for future small luxury hotel or gites de france coupled to riding school -
free market value 650.000 euros
occupied lifelong by seller man 85 years old
downpayment 300.000 euros plus life annuity monthly payments 2416 euros
prices slightly negotiable

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 cost of living avoiding risks associated with trditional investment scheme
the sale against life annuity can be either vacant (rare) or occupied (most commonly)
in the latter case seller remain living in their house for the rest of their life or for a more limited period
the sellers may relinquish occupation at any time in which case life annuity is increased by a further supplement

WHAT ARE THE ADVANTAGES FIOR A BUYER ON A LIFE ANNUITY PURCHASE
property is sold at a lower price
downpayment required 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 initialdownpayment
the balance is payable monthly in the form of life annuity which is calculated on the basis of followng 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: 4
Habitable Space: 200 m²
Land Size: 85000 m²
Isolated
Rural
Outbuildings
Lake

Condition and Utility Information

Condition - Restored / Habitable

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