Anonymised example · Buyer Negotiation Brief
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Le Belvédère · Cap d'Antibes · lot 12 · 300/10 000 tantièmes · 52-page file
Verdict
Negotiable, −54 000 € supportable
A heavy works programme (façade, waterproofing and water risers), an open infiltration claim and an underfunded works fund weigh on the building. The file stays buyable, provided the price is adjusted on the voted works that will be called on you after closing.
Findings, by severity
CriticalFaçade & waterproofing voted
55 500 €
Your 3% share (300/10 000 tantièmes) of a 1 850 000 € incl.-tax programme. Calls due after closing are on you.
↳ AG 12/05/2025 · resolution 6
CriticalInfiltration claim ongoing
not quantified
Water ingress in common areas, action filed against the contractor. The outcome commits the building budget, so it stays a reason to hold a price retention until the syndic confirms the provision.
↳ AG 12/05/2025 · item 9
CriticalWater risers voted
10 500 €
Your 3% share of a 350 000 € replacement of the colonnes montantes. The old risers leak, and the calls land in the same window as the façade.
↳ AG 12/05/2025 · resolution 7
MediumCommon-area electrics not compliant
7 200 €
Your share of a 240 000 € mise aux normes plus an IRVE charging column, planned in the PPPT. Not voted yet, but dated and coming.
↳ PPPT phase 1 · électricité
MediumLift, repeated breakdowns
6 000 €
Eleven call-outs logged in two years. The recent repairs are a stopgap, full replacement (200 000 €) is dated in the PPPT, your share 6 000 €.
↳ carnet d'entretien · PPPT phase 2
MediumWorks fund underfunded
covers 19 %
410 000 € in the fonds travaux against 2 200 000 € already voted. Your share of the fund (12 300 €) offsets a little, the balance is called.
↳ DTG p.21 · fund balance
MediumCharges rising
+18 % / 3 yrs
The running budget drifts steadily to about 531 000 € a year, excluding exceptional works.
↳ accounts 2022 to 2024
MediumCo-ownership arrears
47 800 €
One lot in recovery, about 9 % of the annual budget. Cash-flow strain for the building, and a risk the shortfall is spread across the others.
↳ pré-état daté
To verifyEPC rating F
value & rental
An F label puts the lot on the rental-restriction timeline. It weighs on resale value and on what you can let, so it belongs in the price and in the works to anticipate.
↳ diagnostics 2024 · EPC
OKAsbestos, common areas
negative
No asbestos found in the common areas, so no abatement cost looming on that side.
↳ DAPP 2024
Exposure of your share
| At 1 year | 54 000 € | voted works (façade + water risers) called after closing, net of the works fund |
| At 5 years | ≈ 67 000 € | + PPPT phase 1 and 2: electrics with IRVE, then lift replacement |
| At 10 years | ≈ 90 000 € | + PPPT phase 3 and 4: heating plant and networks, common stairwells and joinery, excl. claim outcome |
Who pays what
Seller
Calls due before the final deed. None emitted at this stage.
≈ 0 € at this stage
Buyer (you)
Voted works called after closing (façade and water risers), net of the fund, then the PPPT phases.
54 000 € + PPPT to come
Supportable renegotiation leverage: −54 000 €, the voted works that fall to you after closing, line by line.
Questions before the deadline
- Do the façade and water-riser works follow a call schedule, and which calls fall after closing?
- Where does the infiltration claim stand: provision set, timeline, and the building's exposure if it loses?
- Does the syndic confirm the real fonds travaux balance and the top-up still to be called?
- What is the lift's real state: how many breakdowns are logged, and is the replacement dated in the PPPT?
- Is the electrical mise aux normes, with the IRVE column, scheduled, and with what call timing?
- Does a clause in the compromis split the voted works between seller and buyer?
Scope of the reading
Documents read
AGM minutes (last 3 years), pré-état daté, calls for funds, DTG, PPPT, co-ownership by-laws & EDD, diagnostics (EPC, asbestos, lead), carnet d'entretien, electrical report.
Documents not provided
Detailed 2024 accounts, lift maintenance contract, latest works-fund statement, the claim file held by the syndic's lawyer. Requested from the syndic, to add on receipt.
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Anonymised example, built on fictional data. It is illustrative and does not constitute legal, tax or financial advice. Your briefing reports only what your own documents show.