The working process for investment and luxury property selection of France and Germany

To successfully achieve a specific goal of finding property or investment opportunity, we apply a traditional project management approach with following different stages:

1.Initiating

  • Initial meeting
  • Defining Personal Property Profile: First, we ask you to provide us with the details of your property search by completing a QUESTIONNAIRE. Upon receiving it and evaluating  your responses, we will contact you to arrange a first meeting. Whether in-person or on the phone, the first meeting is about to refining your search, adjusting them to the up-today market and establish feasible requirements as part of the Joint Agreement.
  • Professionalism is key to Monaconcept’s reputation and, if having assessed your property criteria, we feel that we are unable to fulfil your requirements, we will inform you immediately.
  • Joint Agreement: It details the Terms and Conditions agreed between yourself and Monaconcept, clearly states the properties criteria’s and authorises Monaconcept to search for property on your behalf. It also establish the preferable means and frequencies of communication, preferable timeline for each stage of the project.

2.Planning

  • Initial property selection: Once mandated, Monaconcept start the searching process and shortly provide you with the initial selection of properties that meets your criteria’s.You will be emailed regular progress reports on our search and your feedback will be used to assist us in creating a shortlist within a pre-agreed time period.
  • Extensive search: To maximise the potential for success we will activate our extensive network of local contacts, which include Estate Agents, Property Developers, Banks, Solicitors as well as a range of private sources and personal contacts giving us unparalleled access to private sales, off market properties and auctions.
  • We will then visit each property on the shortlist to assess it for ourselves and provide you with detailed information including photographs, specifications, locations, amenities, transport links, property condition and price. This shortlist will be form your Property Portfolio.

3. Executing

  • Viewing the Properties: Upon reviewing the shortlist, you will have the opportunity to visit your chosen properties in person, which usually takes 1-2 days.Monaconcept can provide you with a CONCIERGE service if required, to help plan your visit.
  • Purchase Arrangements: Once you have reached a decision on the property you wish to purchase, we will provide full support and assistance in all matters of the process, including:
  • Negotiation a price

  • Financial Assistance: If you are considering financing your purchase. We will help you to explore the options available on the market and set up introductions with our trusted financial institutions and banks;
  • Inspection of the Property when is required. We will liaise with the relevant professionals on your behalf such as chartered surveyors, architects and land surveyors;
  • Legal &Tax Implications — We will guide you through French and Monaco property laws and provide you We provide informal legal advice and make introductions to our carefully selected Lawyers and, if required for more complex tax and estate planning;

4. Controlling

  • Due Diligence
  • Negotiation a price on your behalf with the vendor or their representative. You may also prefer that we handle the signing of documents and contracts and this is a simple matter of organising a short term Power of Attorney

5. Transaction conclusion

This stage of the process involves making an offer on your selected property.

We  can make an offer on your behalf in writing. The offer is given to the seller  to accept, refuse or negotiate. The offer is valid for 7 days from signing and is not legally binding to either buyer or seller.

Upon acceptance of the offer, a pre-sale agreement (‘compromis’) is produced. This is a legally binding document and will require a form of down payment - usually 5-10% - to secure your intention to purchase the property.

Once the pre-sale agreement (Compromis) is signed there is a period of 2 to 3 months while the Notaire processes all the paperwork related to the property purchase, gathers all necessary Government documentation  and draws up final contracts between the purchaser and the seller.

The signing of the  Deed of Purchase takes place at the offices of the Notaire. At this point the final payment is made in full on the property and keys are exchanged.