The Reverso Flex offer is unique in France. It allows you to sell part of your property in order to obtain precisely the amount of capital you need. You decide how much you want to sell. You stay in your home for life, and Dillan becomes a silent partner.
Can I freely choose the amount I release?
Dillan allows you to free up exactly the amount of money you need using the wealth accumulated in your real estate. The minimum amount is simply €100,000.
Who bears the costs of the partial sale?
Dillan will bear all costs related to the transaction (notary, diagnostics, expertise...). The proceeds of the sale are yours without any deduction.
Can I buy back the part of my property that has been sold?
You, or your heirs, may apply to buy back the share of property from Dillan. A market value of your property will be established by a third party valuer and will be used as the basis for calculating the buy-out price. You will be free to accept, or not, the proposal made to you at that time by Dillan.
Will I benefit from rising property prices?
In addition to continuing to live in your home as before, you will retain ownership of a portion of your property, and as such you will be able to benefit from the increase in the residential market for the portion that you have retained. This share depends on the amount you wish to obtain with Dillan.
What happens if I finally want to leave my property and put it up for sale?
At any time, you can ask to leave the property and put it up for sale. The sharing of the sale price will be done according to your share of bare ownership, and the remaining value of the usufruct at the time of the sale, which will be determined at the time. If you wish, we can even take care of the resale of the property, to simplify your life as well as that of your heirs, and to ensure of course that it is sold at the best price.
If I die, can my spouse continue to live with us?
Yes, the usufruct you retain applies to your spouse as well.
Who pays the common charges, or HOA ?
We are a silent partner. You continue to live in your home and have full and free use of your property (including the ability to rent it out), so you pay your usual charges, and can decide yourself to carry out improvement or renovation work. These will be at your expense.
Dillan will take care of the "major repairs" as defined in article 606 of the Civil Code, i.e. the major walls and vaults, the restoration of the beams and the entire roofs, the dikes and the retaining and enclosing walls, up to its share.
Is there any capital gains tax if I partially sell my property?
If it is your main residence, you are exempt from capital gains tax (in France). If this is not the case, the classic tax framework will apply and, depending on the length of time you have held the property, you may have to pay tax on the capital gains realised. Please consult a tax advisor.
How long does the partnership with Dillan last?
The partnership is intended to last for life, that is, until your estate.
What are the differences with a life mortgage?
Reverso Flex is not a loan. It is your money, not a debt you owe Dillan. Dillan becomes the owner, alongside you, of a share of your property. When the property is sold, Dillan recovers the amount of its investment from the buyer of the property.
What is the Dillan Reverso offer?
Dillan buys the bare ownership of your property, you obtain a significant financial capital immediately, and you keep a right of usufruct for life, which allows you to continue to live in your property, as before, as well as to rent it out if you wish.
How much will I get for my property?
You immediately receive a capital sum paid at the time of the signature of the sale. This capital corresponds to the market value of your property minus the value of the right of usufruct that you retain. This corresponds to the rent you would have had to pay to continue living in your home. This occupancy discount is directly related to your age, or the age of the youngest owner in the case of a couple. Dillan makes it simple: our acquisition scale is the same for men and women. Another innovation: if you leave your home early, you will receive an additional capital sum. With Dillan, everything is clear.
What happens if I decide to leave?
In the event of an early departure, you will receive an additional capital. This supplement will be paid if you leave before half of the presumed period of occupation of the property. The amount of the top-up depends on the actual period of occupancy and is specified in the contract that you sign with Dillan.
What happens if I die?
Your right of usufruct ends and Dillan becomes free to dispose of the property as he sees fit.
Am I going to be taxed on my sale?
The transfer of your principal residence is tax-free. We pay a capital at once and it is not taxed. This is one of the benefits of our solution, unlike life annuities which are taxable.
How is my lifespan assessed?
No one can predict how long you will live of course. At Dillan, we will not ask you any questions related to your health. We use insurers' life expectancy tables to value our offers, which are the same whether you are a man or a woman, single or in a couple.
What are the differences with a viager (life annuity)?
Dillan's offer is transparent, fast and secure. - Transparent: the amount you receive is known in advance, we pay out a lump sum immediately which does not depend on your actual life lifetime. - Fast: we are not an real estate agent looking for an individual buyer for your property. We buy your property, so you avoid numerous visits and months of waiting. - Secure: we pay everything upfront. In a viager, there is always a risk that the buyer might default on the annuity payments.
What is the Dillan Reverso range?
Dillan has innovated by creating a financing solution that allows senior homeowners to access the wealth locked up in their property. The Reverso range allows you to choose precisely the amount you wish to access, and depending on this amount, Dillan will acquire all or part of your property: this is Reverso and Reverso Flex.
How is the partnership with Dillan secured?
The Dillan solution is based on a real estate transaction: you sell all or part of your property in Dillan. Like any traditional real estate transaction, the sale is concluded with a notary and registered with the land registry. This allows you and us to freeze the terms of our partnership, in particular your right of lifetime usufruct and the shares of ownership. You are invited to be assisted by your notary, for a maximum of advice.
Who is eligible for Dillan's offers?
If you and your partner are over 70 years old then you can benefit now from this unique offer in France. There is no maximum age. At this stage we cover the major French cities and areas with strong economic or tourist appeal.
How does Dillan get paid?
Dillan finances itself with partners to provide you with the funds for a partial sale. By acquiring a share of the bare ownership of your property, Dillan invests in a real estate right that increases in value over time, and is remunerated thanks to the capital gain that will be realized when the share is resold
. In the end, the cost of a partial sale to Dillan is very reasonable and close to those found on consumer loans for long periods. Dillan will accompany you for a precise estimate.
What is a mission company?
The 2019 Pact Act brought the concepts of "social interest", "raison d'être" and "mission-driven company" into French law. The mission-driven company corresponds to a quality or "label", which designates commercial companies that set themselves one or more social or environmental objectives. The aim is to reconcile the common interest of the partners with the achievement of a broader objective of general interest.