Why is a Property Search Service Important?
There are a number of ways we and any good search agent will help you find the best apartment for your budget.
- Most important, there is no Multiple Listing Service (MLS) in Paris and more than 3,600 agencies in Paris alone. Unless you live in Paris fulltime and speak French, it is difficult to find the best apartment for you and your budget. A good search agent will visit dozens of agencies, stay in touch on a frequent basis, comb all listings and even speak with concierges in favorite buildings.
- A good search agent will help avoid hidden problems. For example, checking the building regulations and meeting notes to find out if there are any large expenses planned for the future. Recently, we found a beautiful apartment for a client, but as we started due diligence, we discovered the entire building was owned by one entity, which would make the purchase more difficult. While not impossible to purchase, the longer term problem was the fact that there were no building regulations or outside management in place, meaning the single buyer would be poorly represented against the majority owner.
What Does Our Property Search Service Cost?
Consultation Fee: An initial phone or personal consultation of about an hour is free. For each additional consultation, the cost is € 350 per hour. This cost is fully deductible from the search fee.
Engagement Fee: The engagement fee is €1,500, refundable against the search fee below.
Property Searches over € 600,000: For property searches over € 600,000, the cost is 3% of purchase price. Often we manage to save the purchaser much more than this in negotiating the price, in finding an under-priced property before it reaches the market and in helping buyers avoid expensive problems.
Searches under € 600,000: There is a fixed search cost of € 18,000 for properties that cost less than € 600,000, plus the € 1,500 engagement fee.
How Does Our Property Search Service Work?
Initial Consultation: We begin with a consultation, by phone or in person, working with you to define your search criteria in terms of budget, location and the objectives for your property purchase.
Property Search: Once engaged, we start the search based on your desires. We wouldn’t recommend a property unless we would buy it ourselves. In a similar vein, if we do not feel we can provide excellent value to a client–i.e., we feel the price is unrealistic, goals cannot be met–we tell buyers at once.
It is important that our buyers know the project can take months and, in a few cases, even years. We do not waste time presenting sub-standard apartments and we will happiliy show you what we’ve seen and why we’ve turned it down.
The perfect apartment: We often locate the buyer’s apartment before they come to Paris. If we tell you to jump on it … then be prepared to put in an offer immediately and fly over immediately to view it. This happened recently when we managed to view an apartment with a buyer half an hour before the official visits started. The apartment was very reasonably priced and it was perfect for the family. We prepared an offer at our offices nearby and bicycled the offer at full asking price to the agent within an hour. The seller accepted the offer – before two other full price bids were made in the next few hours.
Property Purchase: Once you’ve found the right apartment, we help you manage the purchase process with the all-important notaire. We have worked with an excellent notaire for years, and are happy to introduce him and act as an intermediary, answer questions, etc. In addition, we can introduce you to other resources, such as mortgage experts, decorating experts, legal and tax advice.
Who Can I Contact for More Information?
If you would more information about our services, please get in touch. We are pleased to answer your questions and to help you find the perfect property to fit your needs.