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La vente d'un bien immobilier en viager
Anyone know anything about this type of property purchase 'en viager'???
It seems to be a way to help an old person get income from their property whilst kind of selling it - but as a potential purchaser what does that mean ? am I committed to living in it and not ever renting it out or reselling it - or am I tied in to them some how? and do I become liable for full purchase price once the person dies?
Or is this something a notary can help with?
basically you are gambling on the owner dieing and then getting the house cheap -- lump sum and then a monthly payment for as long as they live or a stated maximum period. You don't get the house till they die.
I know someone who ended up with teh house very quickly -- there is also the risk that the elderly person you thought were on their last legs outlives you.
"am I committed to living in it and not ever renting it out or reselling it"
No, you are committed to allowing the seller to live there until they die.
"am I tied in to them some how?"
Very much so.
"do I become liable for full purchase price once the person dies?"
NO, you pay up immediately. Depends on the type of sale but you normally pay the full price on purchase, or monthly payments for the remainder of their life.
"Or is this something a notary can help with?"
Yes it is.
You should also be aware that securing a mortgage on such a property is likely to be very difficult.
You are normally committed to paying up the "purchase" price in full when the acte de vente en viager is signed AND to making further monthly payments for the remainder of the life of the seller. There are tax implications too.
If you want to gamble like this, a visit to a notaire who speaks your language well is an absolute must BEFORE you even think about buying. Otherwise there is always LOTTO.
the "Vente en viager" is a particular field of the real estate, if you wish more information, the agency Viagerbel (https://www.viagerbel.be/) will surely be able to inform you!
