BC LE CANNET

Reference: BC LE CANNET - 2 Bedroom Apartment - €95,000 (LIFE ANNUITY SALE PURCHASE PRICE 95000 EUROS AND LIFE ANNUITY MONTHLY PAYMENTS 838 EUROS)
Location: Cannet, LE CANNET

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€95,000 is approximately :

Australian Dollars : $155,293

British Pounds : £85,573

Canadian Dollars : $150,936

Hongkong Dollars : $1,092,779

Japanese Yen : ¥12,535,711

New Zealand Dollars : $195,365

Swiss Francs : F143,695

US Dollars : $141,112

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

€95,000

Bedrooms	Habitable	Land Size
2	?	?

2 Bedroom Apartment - €95,000 (LIFE ANNUITY SALE PURCHASE PRICE 95000 EUROS AND LIFE ANNUITY MONTHLY PAYMENTS 838 EUROS) - Location: Cannet, LE CANNET

Provence-Alpes-Côte d'Azur, Alpes-Maritimes, Cannet

This Property is For Sale by FGP CEV
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Highlights

LE CANNET LIFE ANNUITY COMFORTABLE SCHEME

Description

Le Cannet - flat - third floor - entrance hall - double living room - terrace - fully furbished kitchen - two bedrooms - bathroom - wc
parking
cellar cave
Purchase price 95.000 euros and life annuity monthly payment 838 euros until sellers death
Occupied lifelong by seller lady 87 years old

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 for the rest of their lives avoiding risks associaetd with traditional investment scheme
the sale against life annuity can be either vacant (rare) or occupied (most commonly)
in the latter case the seller remains living in the house for the rest of the 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 A LIFE ANNUITY PURCHASE?
property is sold at a lower price
purchase price 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 the Buyer is required to pay the purchase price
the life annuities are payable at the end of each month by direct swift transfer to sellers account until sellers death

the life annuity amount is calculated on the following criteria:

amount of downpayment/purchase price
life expectancy of sellers

life annuity is linked to consumers price index and updated once a year in the date anniverary of the date of transfer of title

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Features

Bedrooms: 2
Terrace

Condition and Utility Information

Condition - New

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