Buying Property in the Languedoc: and Selling It

You might think that the process for selling property is just a mirror image of that for buying it. This is true. I you read the information about buying a property, you should find that it tells you what you need to know.

The only point worth noting is that if you sell property, you may be liable to a sort of capital gains tax.

If the property is not your principal residence, or if you are not resident in France, then you will be taxed on the nominal profit on the sale, allowing for (properly documented) expeses. If you sell within two years the rates are penal - to discourage property speculation. After two years a proportion of the profit is subject to tax, the proportion decreasing each year for twenty years, after which no tax is payable.

The tax rate for non-residents is 33%.

Remember that the notaire is also a tax collector, and he will make sure your tax payment is made fromn the sale proceeds.