Discover a brilliant search conducted by Catherine ZIEGLER, our paris 15th apartment hunter .. .
The real estate project
Majd works and lives in NYC, USA. He wants to quickly acquire a foot on the ground around the Eiffel Tower or the Trocadero. He is considering a quick project in order to benefit from the attractive borrowing rate at the moment (he can possibly finance this purchase without resorting to a loan).
Why an apartment hunter?
Majd needs an apartment hunter as he is abroad and can only travel to visit. He needs a very detailed report, photos to get a real idea of the property visited and is probably considering a “remote” offer to buy.
Why HOME SELECT CHASSEUR IMMOBILIER?
The HOME SELECT network was recommended by a friend who found his foot on the ground thanks to HOME SELECT. He also chose HOME SELECT for a reasonable fee.
What’s the specification?
The specifications drawn up are as follows: budget of 250,000 euros all-inclusive. It takes a large room (which can be divided) or a 2-room room with 1 bedroom. The desired minimum area is 24m2. The apartment must be in a possibly Haussmannian building if not clean and with elevator. Preferably high floor for a nice clarity. No maid’s room. No DRC. Reasonable charges. Work is possible if included in the budget.
What is the research area?
The research areas are precise: Paris16th – Trocadéro district – or Paris7th/15th around the Eiffel Tower.
What is the action plan?
The action plan has been defined as: putting the surrounding agencies on alert but the areas are very popular and this type of property is highly sought after. Agencies have listings of potential buyers on standby – often this type of property sells “word of mouth” without even going through the real estate department of an agency… I keep a close eye on the websites I’m on and on alert on, hour by hour.
How did the search go?
The search is not simple: I travel the two areas first the Trocadéro district and then the vicinity of the Eiffel Tower. Few goods on the market that meet the criteria. I visit 3 property only in 2 weeks but only offers a 2 Rooms of 22m2, renovated – overrated and over budget to Majd who does not hold it.
It was then that the “rare case” came up …
A week of twists and turns:
Friday 3 April: (Easter weekend) in the late afternoon an announcement “falls” : 2P, 24m2 with separate kitchen 2 steps from the Trocadero in a beautiful, very quiet building; A RENOVER to seize 189,000 euros; Announcement proposed by an agency of 11e – I have never collaborated with it before – a mobile number is indicated. I call immediately: answering machine, I leave a message requesting information / wish to visit the premises as soon as possible …
Saturday, April 4: on my inbox, I have a message from MAJD who has seen this property of accommodation and wishes I would visit it for him: I call again – to no avail; The answering machine indicates a box saturated with a message that does not take a new message; I try the agency number. I am told to call back the number at the beginning of the week.
Monday 6 April: public holiday but I still try a call: no answer. The ad is no longer online.
Tuesday, April 7: 9:30 am, I call again and the agent replies to me having had 40 messages and that he is calling everyone in the order of call, I’m in6th place – it confirms to me an appointment in the late afternoon 5pm; I send an email to Majd to let him know about the appointment. At 2:30 p.m. the real to minnow set me back to cancel the appointment for personal reasons and told me to cancel all visits ??? He has to be away for several days… and get back in touch ?… Very annoyed I inform my client of the cancellation and postponement of the visit. At this point I doubt to have a new call and a new appointment …
Wednesday, April 8: during my tour of the agencies hunting for another search I contact a new agency: the firm Halbout and Clerfeuille. We exchange on various issues and by pure chance I mention the cancellation of the previous day’s visit and my disappointment. Rebound: this firm has just THE MEME DAY to be commissioned by a judicial administrator for the sale of this property located in Trocadero! New information is then communicated to me and corrected: this property is part of an estate in division managed by a judicial administrator. This indivision is in liquidation. It is not a 2-room but a large studio with an area of 21.3m2 and not 24m2; The kitchen is separate. It is located at 3E floor of a very quiet building with very clean common areas, with elevator, very close to the Trocadero. It is to be completely renovated, has been unoccupied for several months. The agency will be in possession of the keys the next day. We’re setting a date for 4:30 p.m. The real estate agent agrees not to show him or advertise him in the next 48 hours, while I visit him and propose it to Majd. I am told that an offer at the price is essential in the case of a property under the management of a judicial administrator. The firm Halbout and Clerfeuille explains to me to be in contact as well as the agency of the11th (which made me jump) with a judicial administrator to market assets in liquidation … the timing is tight and theoffer at the price is unavoidable. I inform my client of the appointment and ask him a great reactivity if the studio interests him.
Thursday, April 9: visit the premises. The property can quite match the search, second-rate building, very quiet – close to Passy Cemetery. Beautiful light, south-west exposure, large window, no annoying screws, beautiful potential but the entire renovation is essential, (about 15 to 20000). Certainly the property is below the desired area BUT I notice that no wall inside the apartment is carrying. The existing entrance “sas” is useless, it is a loss of m2 in an apartment where every square sqm is valuable so the studio plan is probably to be rethought. I take a lot of pictures and send a detailed report to MAJD that evening.
Friday, April 10: 1pm (time shift with NY) response from MAJD who wants me to formalize the offer on its behalf. The offer made is priced and is not subject to a suspensive loan condition (on the advice of the firm for the offer to be accepted). I call the agency to inform him of the offer of MAJD at the price and ask them to acknowledge receipt and pass it on to the judicial administrator as soon as possible. At 6 pm: the firm acknowledges receipt of the offer sent by email and confirms that it has been forwarded to the judicial administrator; he informs me that the acceptance of the offer should be confirmed within a few days.
Tuesday, April 14: acceptance of the offer by the judicial administrator; we learn that the studio has been valued at 180,000 euros and that the agency fee is 9,000 euros.
Majd has a notary in Paris and wants the transaction to go through his study. The contact details of the respective notaries are communicated to each of the parties. The pv of the last 3 AG is provided to me by the firm. The real estate agent of the firm Halbout and Clerfeuille is excellently co-ordinated and questions the trustee several times; A number of points are clarified; Majd quickly gets answers to all his questions.
The date of signing the compromise at Majd’s notary and quickly set for 2 June to the great satisfaction of Majd who wants the signature to be done as soon as possible because he plans to start the renovation work at the end of the summer so that next fall the studio will be habitable. Majd gives me power to a family member for the signing of the compromise, he can not go to Paris. This same person also wishes to visit the studio beforehand signing the compromise in order to strengthen Majd in his purchase; I pick up the keys at the agency and arrange the visit on the morning of the signing of the compromise. The visit is conclusive: the neighborhood is attractive, the building in line with expectations and the estimated work budget is confirmed. Majd is “reassured” about the purchase of this property – which he still hasn’t seen – taken over by an activity that did not allow him the leisure to go to France to visit it.
Majd then decides to benefit from favourable borrowing rates. Banks are difficult to lend to French nationals living abroad and it is thanks to the Partnership between HOME SELECT and CAFPI that the project will succeed. CAFPI’s international department has been very effective in getting one of the best rates possible and building the case in record time. Mr Vargues of CAFPI and Jean Mascla of HOME SELECT have been setting up this partnership for 8 months. CAFPI is a real estate debt brokerage company. CAFPI offers a project solution tailored to each of its clients’ projects. Nationally or internationally. We are then in the summer period and the study informs of the usual 3-week closing period … The work will not be carried out during the summer.
Monday 31 August: signing of the authentic deed at the notary.
How did you find the good? After how long ?
Internet announcement of an agency of the11th and finally by the firm Halbout and Clerfeuille, real estate agency Boulevard de Grenelle, in the 15th. This apartment was found after 2 months, I had visited only a few goods corresponding to the criteria.
What’s his description?
It is a studio: access to the main room by crossing an entrance door; Very large window in the living room, framed on each side by 2 large closets, carpet on the floor. A wooden alcove on the ceiling gives an old/retro character to the living room. The kitchen is separate, it has a window; the bathroom, with sink and bidet, is one-eyed; The toilet is separate; tiled in these last 3 pieces. The whole thing has to be completely renovated. The studio has not been inhabited for several months. (No DPE available, the counters are closed, but the diagnostics have been made).
How did the customer decide?
Majd decided very quickly to receive the elements I provided him: a complete and detailed report, many photos to support, a complete file on the property is provided by the firm that was professional during the visit. Majd understood the urgency of the decision if he wanted to acquire this studio. The most important criteria were met: neighbourhood, “quality” of the building, reasonable price – possibility of making it a studio, or even a 2Pieces (MAJD project with an architect) of quality redone in the initial budget.
Has any work been done?
The advantage of this property is that we are under budget, the geographical location is optimal: 400m from the Trocadero metro. The work is necessary and essential. They are currently in progress. Photos “after” the renovation will soon be available.
The conclusion of your paris 15th apartment hunter
The search for a pied-à-terre in a “prestige” Parisian neighborhood is quite classic. The initial budget was a challenge,‘opportunity of this property in the hands of a judicial administrator was to be seized at short notice because the search could have been much longer. Our international broker who within 3 days has set up the loan for a foreign client. My tenacity to successfully visit this property,the happy and lucky coincidence to find it for sale in another agency than the agency of the initial announcement were rewarded! A nice lesson not to give up.
The final word for our client
Majd was pleased with the way HOME SELECT went through the coaching process and my availability for calls – even late – (schedule shift with New York). He appreciated my responsiveness, my great motivation and my seriousness throughout the follow-up of the offer file until the signing of the authentic deed at the notary.
Here is his certified customer review of September 20, 2015:
“I would like to thank HOME SELECT and especially Catherine Ziegler for the very good service. I would recommend HOME SELECT for anyone looking for a nice place in Paris!”