Is the offer to purchase at the price and condition of the mandate worth a sale?
Here we are only studying the case where the sale is managed by a real estate agency. Contrary to much information circulating on the Internet, the offer to buy at the price of the mandate does not require the seller to sell, as long as the seller has not countersigned or accepted the offer.
Legal Point About the Sale
The principle is established by article 1582 of the Civil Code “the sale is an agreement by which one wishes to deliver a thing, and the other to pay for it”. However, article 1589-1 of the same Civil Code states that the promise to sell is equivalent to a sale “when there is mutual consent of the two parties on the thing and on the price.” If a real estate agency manages the transaction, the seller is under no obligation to accept an offer to purchase. Without the seller's agreement, there is no commitment on his part. The sales mandate is incorrectly called, because it can be analyzed as a simple intermediary mandate (Court of Cassation, 10.05.1995). It does not allow a purchaser presented by a real estate agent to rely on the completion of the sale and to require the signature of the act confirming the sale. The seller is free to choose his buyer or to stop selling. In which case he could risk owing damages to the intermediary. Once an offer at the price and condition of the mandate has been obtained, the real estate agent can continue to make visits and collect other offers as long as the seller has not committed to selling. The judges consider that the client can choose the offer that best suits him.
Patrick explains to you if the purchase offer at the price and condition of the mandate is worth a sale
The Offer to Buy at the Price
Make a Purchase offer At the displayed selling price does not guarantee you the purchase of the coveted apartment. No more than making an offer first. The owner is free to make his choice according to criteria that are specific to him. On the other hand, real estate agents or their agencies sometimes have their own operating rules: making the first offer that has been formulated, etc... but these are only principles that have nothing to do with legislation. However, it is better to know the habits of agents.
There are a lot of misunderstandings about the purchase offer. Unfortunately, they are not often removed by professionals.
ADVICE : when you visit an apartment that you like, ask the agency how they handle purchase offers. And act with full knowledge of the facts.
Seller protection
This particularity of the sales mandate, which is in fact a simple intermediary mandate, is interesting for owners to understand. It represents a strong legal protection for them. Giving their apartment for sale to an agency will allow them to choose the buyer who is right for them. They will be able to study the various offers and choose the most interesting financing or profile.
Carefully Write Your Offer to Buy Real Estate
The purchasers, knowing this particular situation of the mandate, will take care to draft their proposal as best as possible. They are likely to be competing with other buyers. It is important to stand out, to reassure the owners, but also the real estate agent. The latter is the intermediary between the two parties. If the buyer knows how to convince him, he scores an essential point. His proposal will be defended with greater support and strength. Indicate as many elements as possible that will prove the seriousness of your proposal. Profession, salary, type of contract. A comfort letter from your broker or banker will be welcome. It shows that you have prepared your research well. That you know your financial capacity.
Do not hesitate to give your impressions of the house. Sellers are sensitive to this. Very often, they hope that the new occupants will enjoy their home as much as they do. Provide your notary's contact information if you know them. And don't forget to give your proposal a validation period (usually one week).
Evaluate the balance of power
Until an owner accepts an offer, they are in a position of strength. Understanding and accepting this situation will allow you to reach your goal. On the other hand, when the offer is accepted, the roles are reversed. The buyer takes over. For this reason, we advise buyers to wait for written agreement before launching in-depth investigations into the condominium and their future home.
Be on Top When Writing the Purchase Proposal
When an apartment is sold through an agency, the owner is in a position of strength. He will be able to choose the purchaser who seems to him to be the most reliable and the most solid. For this reason, we invite buyers to be enthusiastic and to prepare their financing plan in advance with a banker or mortgage broker. We can't say it enough, take care in the drafting of your proposal. Be reassuring both with the agent and with the seller. Do not begin your investigation of the apartment and the condominium until you have obtained the agreement of the owners. Remember that you will have 10 days to think about it after signing the promise or compromise. So you have time to find out.
After several months of research (in a very targeted neighborhood), I decided to call on Talk to me about 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 Talk to me about 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.
The agency was able to perfectly identify our needs and found us the apartment that ticked all the boxes in a few days and at first glance when we had been looking for several months. Beyond efficiency: professionalism, expertise, availability and a lot of people.
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