Rental real estate -
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ZOOM ON... The search warrant
September 20, 2021
When you are looking for a property, you can call upon a property hunter who will find for you the one that corresponds to your project. To do so, you must sign a search mandate that will bind you contractually to this person. Find out what a search mandate is and how it works.
A search mandate is a contract that binds you as a buyer to a real estate hunter whose mission will be to find the property corresponding to your expectations. The real estate hunter must hold a professional real estate transaction card, which guarantees his professionalism. The search mandate is governed by the Hoguet and Alur laws.
The search mandate formalizes the relationship between you, the buyer, and a real estate professional. It determines the conditions of the real estate transaction, the power delegated to the agent, the conditions of the service, its remuneration and the means implemented.
As a buyer, the search mandate obliges you to pay a fee to the property hunter once the final sale has been concluded. The property hunter on his part is obliged to find a property that meets your criteria. He also has the duty to provide you with advice and information. The fees will only be paid if a deed of sale is signed at a notary's office; visits to properties or the signing of a preliminary contract (compromis or promesse de vente) do not trigger their payment.
A search mandate includes the search, the organization of visits, the negotiation of the property and the price offer as well as the securing of the purchase.
There are two types of search warrants:
A search mandate is a contract signed between a buyer and a real estate professional while a sales mandate is a contract signed between the owner of a property and a real estate professional.
Now you have all the cards in hand to call on a real estate hunter. If you wish to search for a property in order to rent it, you can contact our teams Raizers Transactions who will propose you properties corresponding to your project.
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