OUR HOUSE-HUNTING PROCESS
The demand and supply conditions of the Parisian property market are very tight. There is a shortage, and interesting properties get sold very quickly! Therefore, we must be very reactive, and we are dedicated to finding the most opportunities by covering the whole market.
OUR LEGAL OBLIGATIONS
In France, house-hunters and real estate agents are regulated by law N° 70-9, 2 January 1970 (« Loi Hoguet »). Hence, they must conform to the following legal obligations:
- Be in possession of a real estate professional licence card, issued by the “Prefecture de Police” (local Police Administrative Headquarters) or the “Chambre de Commerce et de l’Industrie” (Chamber of Commerce and Industry).
- Abide by article 1 of “Loi Hoguet” legislation by having a signed “exclusive property search mandate ”. This agreement defines the roles and duties of both the buyer and the agency/house-hunter in a clear and consistent manner.
The “exclusive property search mandate” is valid for 3 months, can be extended up to one year, and can be terminated by the buyer without prior justification.
- Grant the buyer a 14-day cooling off period, in conformity with “Loi Hamon” legislation (doorstep situation).
- Demonstrate clear communication on all fees, inclusive of VAT.
- Not charge the buyer any fees before signature of the deed of sale and completion of the transaction.
- Receive remuneration from the buyer only if the latter has bought a property. Payment is due once subject-to clauses have been lifted, and no later than at completion of the transaction (signature of deed of sale at solicitor’s office).