Purchase under time pressure: 58 sqm 3-room apartment found in 12 days in the 11th

A couple whose lease was expiring found and purchased a 58 sqm 3-room apartment in the 11th arrondissement of Paris in just 12 days, for a negotiated price of 520,000 euros, a saving of 29,000 euros (5.3%) off the listed price. The Home Select property hunter turned this urgency into an opportunity.

Mission summary

• Property hunter: Home Select property hunter
• Area: Oberkampf / Parmentier, Paris 11th
• Property type: 3-room apartment, 58 sqm, 3rd floor without elevator
• Initial budget: 560,000 euros
• Negotiated price: 520,000 euros (listed at 549,000 euros)
• Search duration: 12 days
• Buyer profile: Couple, ages 33 and 35, lease ending

The project

Emilie and Romain had given notice on their rental in the 10th arrondissement without having found a property to buy. A purchase project that had been maturing for a year had been delayed by an initial mortgage refusal, now resolved with another bank. They had six weeks left before the end of their lease. If they did not find something quickly, they would either need temporary accommodation, estimated at 4,000-5,000 euros, or negotiate an uncertain extension of their tenancy. The pressure was real, but their budget was well calibrated and their financing file solid.

The search strategy

Facing the urgency, our property hunter deployed an accelerated search protocol. Three simultaneous actions: a complete sweep of existing stock in the 11th (around forty properties matching the criteria that day), direct calls to real estate agents in the Oberkampf-Parmentier area to identify properties under mandate but not yet published, and an alert through the off-market network. The elevator criterion was dropped from the initial brief: Emilie and Romain, young and without children in the short term, agreed to prioritize location and surface area over ease of access.

The property found

By day 5, a 58 sqm 3-room apartment on the 3rd floor without elevator was identified on rue Oberkampf, in a well-maintained 1890 period building. The property offers a 22 sqm living room with solid hardwood parquet and a decorative fireplace, two bedrooms of 12 and 10 sqm, a recently renovated open kitchen and a full bathroom. The courtyard orientation guarantees remarkable quiet for this busy street. Condominium charges are contained at 150 euros per month, with a facade renovation completed two years prior.

The viewing took place the day after identification. Emilie and Romain visited that same evening after work and confirmed their choice.

The negotiation

The property was listed at 549,000 euros, or 9,466 euros per sqm. Our property hunter noted that the absence of an elevator on the 3rd floor justified a 5 to 8% discount compared to comparable properties with elevators in the neighborhood. The offer was presented at 510,000 euros, accompanied by the bank certificate and a commitment to sign the preliminary contract within ten days. The seller, who had their own purchase underway and sought certainty, accepted an intermediate price of 520,000 euros (8,966 euros per sqm). The preliminary contract was signed on the 12th day after the start of the mission.

What this mission illustrates

Urgency is not incompatible with a good deal. Despite a 12-day timeline, the negotiation saved 29,000 euros. An experienced property hunter knows that the buyer’s urgency must never show in the negotiation: only factual arguments matter.

Flexibility on secondary criteria opens up opportunities. By accepting a 3rd floor without elevator, Emilie and Romain accessed a larger and less competitive pool of properties in the 11th arrondissement. This flexibility, advised by our property hunter, was decisive.

The search mandate makes full sense in urgent situations. By fully delegating the search, the couple was able to continue working normally while their property hunter visited and negotiated on their behalf. Without this organization, 12 days would not have been enough.

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