Income Producing 5 bedroom Manor House for sale in Carennac, Midi-Pyrenees
Situated in the heart of the Dordogne Valley this gorgeous property has spent all its life being used for hospitality from the day it was built right up to current date, providing accommodation and food for the tourists and the locals.
The property has been very tastefully decorated and extremely well presented and sits in the most gorgeous location, an excellent opportunity to continue with this business fully registered as a...
Situated in the heart of the Dordogne Valley this gorgeous property has spent all its life being used for hospitality from the day it was built right up to current date, providing accommodation and food for the tourists and the locals.
The property has been very tastefully decorated and extremely well presented and sits in the most gorgeous location, an excellent opportunity to continue with this business fully registered as a French Company.
The current owners operate a very successful bed and breakfast and a small restaurant with a lovely terrace overlooking the gardens and river in the distance.
The house comprises of the ground floor with 2 rooms which could be converted into owners accommodation if one wanted to increase the bed and breakfast into 5 letting rooms, laundry room, a small office and storage space.
The first floor consists of a dining room/restaurant that seats 12, a semi-professional kitchen, the reception area with a coffee/beverage machine and pellet wood burning stove, and a beautiful living room. A terrace with additional tables is outside.
On the second floor, are three guest rooms each with en-suite bathrooms. These rooms are lovely light and airy, two have front views over the beautiful town and one has views over the garden.
Above this is the owner's accommodation which is 2 bedrooms and 2 en-suites, these rooms are well presented but would need a little decoration to transform for use to bed and breakfast but this would certainly increase turnover during the summer months.
At the back of the property is a beautiful enclosed garden of approximately 700m2 with a small swimming pool, terrace and garden shed with views over the river from the terrace, it would not be difficult to create a staircase from first-floor terrace to ground floor allowing the restaurant to take more outside covers in the summer months.
It must also be noted that if one is not interested in the restaurant this is a lovely location to have a tea room.
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This Manor House is located in Carennac in France
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Buying a Property in France
1. Signing the Agreement (Compris)
On finding a property you wish to purchase you will need to negotiate the terms, price and conditions of the sale with the owner.
The next step, once you are in agreement, is to sign the preliminary contract (Compromis de Vente). This is a legal document and after ten days will be binding on both parties. Rules change frequently in France and it is best to consult with your notary about when this period starts. Generally the compris will be signed in France with the Agent.
Variants can be included in the compris, for example an Acte (clause) can be added if the name or names to go on the title deed have not been finalised. If a mortgage will be required to purchase the property, the details for this, including the name of the mortgage company, must be on the compris.
2. Paying the Deposit
Generally the deposit will be 10% of the agreed purchase price. This will normally be paid to the notaire. There are exceptions to this, if the agent holds a carte professionelle, is bonded and fully registered then you may pay them, but do not hand over the deposit to anyone else. If for some reason the purchase does not go through, for example, if you write to the notaire and the agent that you do not wish to go continue with the purchase before the contract is binding (within seven days of signing the compris), then your deposit would be repaid. This would also apply if a condition had not been met, or the mayor or S.A.F.E.R. (a government agency that has the right of first purchase on most rural property that comes onto the market in France) could oblige the purchaser to give way. If you decide after the seven days 'cooling off' period that you do not wish to complete the purchase and pull out of the sale you would lose your deposit. If however the vendor pulls out of the sale then you will receive your deposit back plus the same amount from the vendor.
3. On Completion
Generally it will take around two or three months to complete the purchase.
During this time the balance of the purchase money must be paid into the account of the notaire, this must be done well ahead of the completion date. The notaire will prepare the documents, check that the deed of sale (Acte de Vente) is in order and have the legal title ready to be signed over. It is possible to have someone sign on your behalf if you give them power of attorney. An interpreter may be of use at this point if your French is not very good and many Notaires will suggest (or insist) that an interpreter is with you.