Does the apartment hunter have a duty to advise?
This is an important question, as it affects the legal responsibility of the apartment seeker. The answer to this will not be the only theme of this article. Although it will reveal the existence of protection that any buyer should ask for to secure the purchase of their home. What the duty to advise means and imposes will be given pride of place in the subject that I propose to analyze. Here we are touching on the heart of the profession, which is still little known, of the apartment hunter. Of the essential service it offers in the transaction of a house. Finding the rare pearl is not its sole aim. It is also necessary to assure the purchaser that the purchase transaction will take place in full knowledge of the facts.
The legal status of the apartment hunter:
The profession of apartment seeker appeared in France in the 2000s. So he is very young and in the making. There are several ways to name it: hunter, researcher, real estate, house, flat hunter, home catcher, etc. However, it does not exist legally. He is not in any professional category at INSEE. So I am going to reveal to you a secret that is not really a secret, but which is important. The apartment hunter is a real estate agent. Certainly, it has a particular specificity that made it change its name. But, in terms of the law, fiscal and economic authorities, it is different. Its legal status is indeed that of a real estate agent. He has the same rights and duties. The buyer who uses his services is therefore protected. He will benefit from all the professional's knowledge, the knowledge of techniques and the functioning of the real estate market.
However, there is a blur zone that some use, with or without knowledge of the facts. The home catcher is required to have a professional card issued by the Chamber of Commerce and Industry. This is something you should check before engaging with an apartment hunter.
INFORMATION : How is a flat hunter different from an agency? As we have seen, they have the same status, obligations and are subject to the same law. The hunter accompanies the buyers and does not deal with selling. He signs a search mandate and not a sale mandate.
The duty to advise:
Yes The apartment hunter has a duty to advise his customers, the buyers.. He has technical knowledge thanks to which he must protect the non-professional. The duty to advise does not apply to the legal guarantees that the manufacturer must assume.
Using the services of a real estate researcher guarantees you to be fully informed. This is one of the reasons that secures your acquisition. The complexity of the operation is no longer a threat. It will be deciphered for you. All the information that will be important in the sale operation must be sent to you and explained.
In order to fully understand the consequences of this obligation of professionals, I am offering three examples. Selling between individuals. The transaction with only a real estate agent. The purchase involving researcher and agent.
Selling between individuals:
Buying without the assistance of a pro has an obvious financial advantage, because there is no remuneration. But is it worth the effort? No site that puts buyers and sellers in direct contact with each other addresses this question. There are many technical aspects of a transaction that are unknown to individuals. They can have negative financial impacts, sometimes significant ones. If one party harms the other, even through ignorance of these rules, there may be no recourse. The professional, committed by his duty to advise, offer a bulwark against these incidents. Buyer and seller could turn against him and ask for damages.
In transactions between individuals, money is earned through the absence of fees. However, at the risk of being involved in an operation where ignorance can lead to a loss of profit.
With the help of a real estate agent:
Security is in place. The agent has the obligation to know and inform about all the key points related to the transaction. He will ensure the smooth running of the operation. Its responsibility is committed.
As he signs a contract with the seller, does he have an obligation to the buyer? Yes, he has the duty to also advise the co-contractor, i.e. the purchaser. This situation can be tricky to manage. The interests of the seller and the buyer diverge.
Presence of an apartment hunter in addition:
Two professionals are involved. One takes care of the seller specifically, the other works at the service of the buyer. No conflict of interest for the agent. Security is up a notch. The level and quality of information will be higher. For the buyer, the difference is crucial. The apartment seeker, unlike the agent, cannot devote himself to numerous customers. A maximum of four simultaneous searches if he wants to provide a quality service. The purchaser will therefore benefit from a super level of advice that no other real estate player can offer him to find the property of his dreams.
Assistance for the apartment hunter:
It must be present at all times during the transaction. Preparation, financing, research, negotiation, visits, deeds of sale. To support and assist with his knowledge, at each of the crucial moments of the purchase transaction.
IMPORTANT : look for an apartment hunter who will assist you every step of the way.
Before the search:
Although the mandate is not always signed, it should contribute to the preparation phase. If this step is done well, success is assured. At this stage, the implementation of the financing plan and the calculation of the budget are at the heart of attention. The home catcher brings his expertise so that the specifications are consistent with the values of the real estate market. Its mission is also to inform the buyer about the impact of credit in sales transactions. In particular, the clause suspensive for obtaining a loan.
Hunting and negotiation:
The expertise will focus here on the valuation of the properties visited. The estimate of work costs. Negotiation assistance through access to the Notaries database. The aim is for the buyer to know if he is buying at a market price. So that he can make informed decisions.
Sales contracts:
The most complex part. The notary comes into play and brings his expertise. He ensures the regularity of the real estate sale. At the same time, the apartment hunter will analyze the condominium documents. He will check with the notary the conformity of the property with the title of ownership. That the rules of co-ownership and urban planning have been respected. The role of the researcher is to assure the purchaser about the quality of his future home.
The apartment hunter, a major asset:
Finding the rare pearl is his main activity. But, it is important to know what warranty the flat hunter offers you. The duty to advise, enshrined in law, obliges real estate professionals to protect individuals. With the presence of an apartment seeker, buyers will buy better, by being fully informed of the ins and outs of the transaction of their home.
After several months of research (in a very targeted neighborhood), I decided to call on Parlez moi de Paris to get out of this spiral of visits that were not successful. An investment that proved to be very effective since I made an offer at the end of the 5th visit.
Great experience with Parlez moi de Paris. Patrick is a professional who accompanies his clients very well in the search for their future place to live. Very attentive, he creates a favourable environment that encourages exchanges with the various stakeholders.
We have established a partnership with Parlez moi de Paris for all the acquisition searches in Paris of our clients that we cannot support. I guarantee the seriousness, the sympathy and the expertise of Patrick and his teams. The research mission is carried out with efficiency and kindness. I recommend.
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