Do you want to invest in a new program or a VEFA program in Martinique? Here is all the information essentials you need to get started and benefit from an advantageous real estate tax exemption.
What is a VEFA program in Martinique?
The term VEFA (Vente en Etat Futur d'Achèvement) refers to the purchase of a new property before its delivery. Thereby, the construction of the accommodation can begin several weeks, or even several months after the acquisition (within usually between 12 and 24 months).
VEFA programs in Martinique are subject to the same rules and conditions as in mainland France. However, they give access to more attractive tax reductions within the framework of certain tax exemption, such as the Pinel Outre-mer law.
Your VEFA program in Martinique in 5 steps
The Sale in Future State of Completion is a process strictly regulated by law, which is carried out in several steps.
The signing of the reservation contract
The first step to be carried out within the framework of a VEFA program in Martinique consists in signing the reservation of the new property in which you wish to invest. Indeed, you should know that a State Sale Future of Completion is only carried out on plan, given that your accommodation is not yet completed at the time of acquisition.
This reservation contract is concluded between the buyer and the property developer in charge of the construction and the sale of the property in question. It is most often accompanied by a security deposit, assuring the promoter that you actually plan to buy the house. This guarantee generally amounts to 5% of the sale price of the property. Note that a regularization before the notary must take place within a period of less than one year.
The financing of real estate
When buying a property, the question of financing is obviously very important. If you have taken out a loan from a bank, it is also necessary to prove that you have obtained this loan to finalize the reservation of your accommodation.
On this point, a VEFA program in Martinique is quite advantageous, since it allows you to easily estimate your budget and therefore to obtain a mortgage more easily. Indeed, with the Sale in the Future State of Completion, no renovation costs are to be expected, the accommodation being completely new. In addition, notary fees are often much lower than in old real estate.
Signing the authentic deed of sale
Now that you have gathered the necessary financing to invest in a new program in Martinique, you must sign the authentic deed of sale during an appointment with your notary. On this occasion, you receive all the essential information about your property: plans, description, guarantees, settlement of condominium, etc. Once the authentic deed of sale has been signed, you officially become the owner of your new apartment in Martinique!
The installment payment for the property
In the context of a Sale in a Future State of Completion, payment for the property is made little by little, in depending on the progress of the work. You will therefore have to successively pay several sums of money called "calls for funds". Generally, a payment schedule is provided for in the reservation contract and/or in the authentic deed of sale.
Housing delivery
Once the construction is complete, the developer and the companies that carried out the work are responsible for the acceptance of works. The property developer must also draw up an acceptance report. As for the buyer, he can now take possession of the property, but must first ensure that the accommodation is fully in line with his expectations.
Far from being just a formality, this step is crucial to identify possible defects: the buyer must therefore conduct a thorough inspection of the apartment. In the presence of construction or completion defects, he must draw up a list of the problems observed, which can be sent to the promoter within one month. This last must also be sent by registered letter with acknowledgment of receipt.
Tax exemption thanks to new programs in Martinique
In order to encourage construction and make investment in new programs in Martinique more attractive, the State has put in place various tax systems intended for individuals, but also for members of SCI (Société Civil Property). The Pinel Outre-mer law, for example, applies as much to the purchase of a new home as to the acquisition of a property in a future state of completion.
Thanks to this system, it is possible to benefit from a significant tax reduction for any investment in new program or VEFA program in Martinique. This tax benefit amounts to 12% of the total amount invested for a rental commitment period of 6 years, 18% for 9 years and 21% for 12 years.
Why invest in a new development in Martinique with Century 21 Cirick?
Do you want to invest in a new development in Martinique? Century 21 Cirick accompanies you in all your steps linked to the purchase of a new home or a future state of completion, while helping you to reduce your taxes thanks to the various tax exemption schemes.
