Frequently Asked Questions
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The agency acts as an intermediary between the owner and a potential buyer. In the assignment, the sale price, payment terms, conditions to be met and the amount of commission to be paid are established.
Exclusive mandate means that agency must be the owner’s sole point of contact. The agency assumes the risks and costs of promoting the property. At the end of the assignment the owner has no cost if the property remains unsold.
In a non-exclusive mandate (which we do not offer) the agency can expect to be paid advertising and other costs.
- The agency will invest more money, time and effort to present your home.
- The agency knows well the territory and the market trends so it will be able to evaluate well your property and the potential for a sale.
- In our case we also perform a filter function. Before making an appointment we will do some checks to avoid non serious buyers will enter your home.
- The agency protects you against possible fraud by ill-intentioned buyers.
- The agency is able to make checks that normally an owner is not aware of.
This unfortunately happens a lot. The correct thing to do is to give the stranger the number of the agency and tell them to arrange the visit through them.
Almost always, both the owner and the prospective buyer are unaware that the expiration of an mandate does not imply the expiration of obligations.
Both the owner and the prospective buyer will be forced to pay the commission if a transaction is completed.
The agency will typically do a follow-up showing once they know that a particular property has been sold.
The first step is to go to the agency to have a purchase proposal prepared in which the conditions are specified: price, payment due dates, final date for notarization, and others.
Yes, a regular bank check made out to the owner(s) or one of the owners. The amount serves as a security deposit, also called a deposit or down payment. This is used to validate the seriousness of the proposal and at the same time protects the bidder in case an owner does not adhere to the stated terms. The check is kept by the agency for greater protection of the bidder.
Only in cases where the proposer withdraws from the proposal and does not adhere to the terms stated in the proposal.
- If the real estate purchase proposal is unsuccessful, the check will be returned to the proposer immediately, without any further charges or fees.
- Conversely, if the proposal is successful, the check will be returned either at the time of the preliminary contract, if stipulated in the purchase proposal, or directly at the signing of the sales contract.
A condition precedent is included in the proposal. This is that condition, which if accepted by the selling party, binds the owner to wait, within the previously established time limit, for the resolution of the mortgage/financing in favor of the potential buyer.
In the event that the bank denies the mortgage/financing, the property owner has no recourse against the bidder for any kind of compensation.
In the specifics of the case just mentioned, a bank check is conducted before a purchase proposal is signed, so as to reduce the risk of the sale failing.
Condominium expenses are calculated up to the date of the notarial deed and paid by the selling party. In the case of extraordinary expenses already resolved before the sale, regardless of when the work will be done, they too remain the full responsibility of the selling party.
The property, unless there are previously established agreements, is always delivered at the signing of the notarial deed.
The buyer has to bear the notary fees, which include both the taxation for first or second home, the notary’s fee, any costs for registering a mortgage/ financing, then the agency’s commission, in case one has relied on it for the purchase.
The seller has to bear all those necessary expenses suitable to be able to sell the house, such as any amnesties, in case there are abuses within the property, the preparation of the Energy Performance Certificate, and the agency’s commission, in case one has relied on it for the sale.