MAGNIFICENT VILLA ST PAUL EN FORET

Reference: BC ST PAUL EN FORET - Villa - €190,000 (life annuity sale )
Location: Var, saint paul en foret

IFP Currency Converstion powered by FC Exchange

€190,000 is approximately :

Australian Dollars : $373,541

British Pounds : £164,096

Canadian Dollars : $302,545

Hongkong Dollars : $1,859,206

Japanese Yen : ¥22,295,044

New Zealand Dollars : $451,879

Swiss Francs : F291,369

US Dollars : $240,302

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

€190,000

Bedrooms	Habitable	Land Size
?	?	1533m²

Villa - €190,000 (life annuity sale ) - Location: Var, saint paul en foret

Provence-Alpes-Côte d'Azur, Var

This Property is For Sale by FGP CEV

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

Highlights

MAGNIFICENT VILLA ST PAUL EN FORET

Description

life annuity sale for this magnificent villa saint paul en foret - occupied by couple gentleman 75 and lady 65 years old for period maximum 10 years - between frejus and fayence near the terres blanches golf yard - provençal style on 1533m2 own outside space - two parts of buildings ancient one with living room - kitchen - bathroom - one bedroom -independent wc - modern building: ground floor with entrance hall - double living room and mezzanine space - fully furbished kitchen and launcherette open on outside patio - another huge furbished kitchen - shower room and separated wc - on first floor large open space room opening on living room - bathroom - dressing room
190.000 euros downpayment plus 1700 euros life annuity
in case couple leaves before 10th year as foresenn then life annuity monthly pyment to be increased by 900 euros inbetween date of departure and month 12 of year 10.

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 which is transferrable to their spounse for the rest of their lives avoiding risks associated with traditional investments scheme
the sale against life annuity can be either vacant (rare) or occupied (most commonly)
in the latter case seller remains living their house for the rest of their life or for a more limit 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 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 initial downpayment
the balance is payable monthly in the form of life annuity which is calculated on the basis of 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

Land Size: 1533 m²
Isolated
Rural
Ski
Golf
Terrace
Outbuildings
Wood

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