The government declines to exercise its right of first of refusal and our loan offer arrives…albeit a bit late.

refusal-to-purchase
The commune of Deshaies declines to exercise its right of first refusal to purchase the lovely Villa La Tramontane!

Getting a mortgage through a French bank has been interesting, but we absolutely could not have done it with our amazing Paris-based English speaking mortgage broker, Martin Heathcote, with France Home Finance. He is unbelievable! The bank requires the borrower to get a life insurance policy that pays off all or a portion of the mortgage if the borrower dies and we even have to buy stock in the bank to help with capitalization. Marvelous ideas in my opinion!  Amongst the many delays that come along with buying a house in Guadeloupe (including various cool off periods and waiting for the government to decide whether to exercise its right of first refusal), you cannot accept the loan offer until the 11th day after receipt in the event you change your mind…you cannot even waive the waiting period! So, since the offer came in from BRED a few days late, the sellers will hopefully agree to extend the closing. In the interim, we are trying to get a few more days tacked onto our temporary VRBO rental and we are moving forward! The container gets packed on Monday and Bob’s incredible skills at scouring Le Boncoin ads online (France’s version of Craigslist) possibly landed us an automatic 4×4 Toyota pick-up truck that the owner is holding until we arrive. Got to love the islanders!!!

bred
Our French Bank!

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