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Sale : The research mandate
Much more common to go through an agency to sell your property by a mandate, it is also possible to use the services of an agency to conduct a purchase offer thanks to the search mandate. The latter is experiencing an increasingly important craze in France.
The obligations of the research mandate
As the research mandate is a relatively binding contract, it is necessary to think carefully before contracting it by signing it and to check the presence of all the legal elements that must be included.
As principal and purchaser, when the mandate is signed, the latter undertakes to remunerate the agent with his fees in the event that the sale leads to a transaction. The mandate makes it impossible to negotiate from buyer to seller in order to avoid the payment of fees if the property has been identified via the agent. To this is added the obligation of remuneration in the case of an exclusive research mandate, even if the buyer finds a property by his own means.
As an agent and agent, when the mandate is signed, the latter undertakes to propose goods that coincide with the buyer's request. The agent must therefore justify a duty of information and transparency by regular reports to the purchaser. No details that may be of interest to the potential purchaser should be omitted otherwise the agent may be considered at fault and will have to pay damages.
Mandatory information on the research mandate
- Identity of the purchaser: the search mandate must mention the contact details of the principal (name and surname, address, date of birth, nationality, civil status, etc.).
- Identity of the legal person: the contract must provide the name of the agent and the name of the agency as well as the real estate agent card, the Civil Liability Insurance, the address of the company and the SIRET number...
- Description of the property sought: the description must be as detailed as possible in order to refine the searches as well as possible to achieve the desired property by specifying the condition of the private parts and common areas, the location, the view, the neighborhood, the constructability of the land, the number of rooms, bathrooms, installations (air conditioning, electrical network...), etc...
- Price of the property sought: specified in a clear and precise way in order to inform the maximum possible budget.
- Conditions of fees: the payment can be in the form of a fixed commission or a percentage, in this case, the latter must be specified and clearly indicated as to its value. The amount of the fees is essential in order to know the precise amount to be paid before writing the promise of sale.
- Duration of the mandate: it commonly corresponds to a period of three irrevocable months, tacitly renewed at intervals of one month, until termination.
- Means implemented: with the Alur, it must be included in the research mandate the duty of information of the agent towards the purchaser, more particularly about the periodicity of the reports.
- Type of mandate: like a classic sales mandate, it can be simple or exclusive.
- It is also possible to use the services of an agency to conduct an offer to purchase through the search mandate.
- The search mandate is a type of contract thanks to which a buyer entrusts to a transaction real estate agency the search for the property to buy according to its criteria, predefined beforehand in order to benefit from the agent's network.
- As principal and purchaser, when the mandate is signed, the latter undertakes to remunerate the agent with his fees in the event that the sale leads to a transaction.
- As agent and agent, when the mandate is signed, the latter undertakes to offer goods coinciding with the buyer's request.
- The mandatory information of the search mandate: identity of the purchaser, identity of the legal person, the description of the property sought, the price of the property sought, the conditions of fees, duration of the mandate, means implemented, type of mandate.
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Posted on 20/10/2021 by
Andy LECUYER
