Our team guides you through every step required to complete your sale in Monaco.
Estimate the value of your property
An appraisal of your property will help bring about a swift sale, as the true value of your property will attract the right buyers. To assess the true value of your property, one of our agency's negotiators will visit your property in order to gather as much information as possible to determine the right price.
We handle all the administrative aspects of the sale
We take care of everything so that your experience is as smooth as possible.
We collect from you all the documents required for the sale of your property, namely:
- your certificate of ownership of the property to be sold,
- a copy of your identity documents (passport and identity card and/or valid residence permit)
- a copy of a proof of address
- the minutes of the last three general meetings of the co-ownership,
- the co-ownership regulations,
- all legal documents pertaining to your company, if you are carrying out the sale as a legal entity,
- the rental management file if the property you are selling is subject to a lease,
- the works completion file in the context of projects subject to a building permit.
Once your file is complete, our team will propose the signing of a sales mandate. This is a contract stating the sale price, our fee, its duration and conditions. It is a bilateral contract that binds both parties.
Everything you need to know about the sales mandate
The sales mandate can take three forms. It can be simple, exclusive or co-exclusive:
The simple sales mandate
This type of mandate allows you to entrust the sale of your property to several estate agencies (more formally known as agents). It also gives you the option of selling your property yourself. The agent who succeeds in connecting you with a buyer and guiding the negotiations will be the only one to receive payment for their services.
This type of mandate affords you a great deal of freedom of action, but does have its drawbacks. The intense competition between service providers reduces their chances of being remunerated, which often tends to limit the involvement of our competitors. Furthermore, it is common to see the same property advertised with differing information — such as the sale price or floor area — which is a serious handicap in negotiations with potential buyers.
This mandate is therefore an interesting option if you wish to retain control over the sale of your property, but it can nonetheless be particularly counterproductive.
The exclusive mandate
The exclusive sales mandate entrusts the sale of the property to a single estate agency. The communication around the property is far more consistent as a result. Furthermore, knowing it is the sole contender for the sale, the agency will commit all the financial and human resources necessary to maximise the sale in the best possible timeframe and conditions.
The strategies relating to the sale of the property will be decided by one and the same team, which will allow buyers to encounter a coherent offering. The sense of reliability is decisive in the subsequent negotiation phase. Indeed, trust between the parties during negotiations is the principal ingredient of a successful sale.
As this mandate is exclusive, you will need to choose your agent with care. You will forfeit the freedom to sell your property yourself or to pit several agencies against one another. However, by working with our agency, you will benefit from a single point of contact to centralise all enquiries from potential buyers or other agencies, and to maintain full control over your property and the information disclosed.
The co-exclusive mandate
The co-exclusive mandate may be the hybrid solution in cases where neither the conditions of the simple mandate nor those of the exclusive mandate are satisfactory. This mandate is based on the same principles as those governing the exclusive mandate described above. However, it allows you to entrust the sale of your property to two estate agencies.
It offers exactly the same advantages: a greater deployment of financial and human resources on the part of the agencies, and a more harmonised communication strategy than under the simple mandate.
When it comes to choosing between these different types of mandate — particularly if you are deciding between an exclusive or co-exclusive mandate — it is preferable to contact the agency you favour. In this way, they will be able to direct you towards an agent with whom collaborative work can be carried out so that a synergy is achieved. You thus multiply your strengths in order to reach better results.
How do we sell your property?
Our teams produce a sales pitch to accompany visual content (HD videos and HD 360° photos) across all the networks we manage (website, social media, press reviews, etc.). Once a buyer expresses interest, we show them the property accompanied by one of our negotiators.
Following this process, if the client is interested in the property, we draw up a purchase offer setting out their conditions, accompanied by a cheque for 10% of the proposed sum, made out to the notary, as evidence of their genuine intention to acquire the property. It should be noted that we are in constant communication with both the seller and the buyer throughout the sales process. Should there be agreement on the price and the property, we arrange an appointment with a Notary in the Principality for the signing of the preliminary sale agreement. The cheque is cashed as a deposit to be deducted from the sale price of the property.
As we highlighted in our buying guide for settling in Monaco, the signing of a preliminary sale agreement is not compulsory, but may be necessary, particularly in the context of the Monegasque State's right of pre-emption. This right applies to all buildings constructed before 1947.
Finally, once all the conditions precedent have been lifted within the allotted timeframes, it will be time to reconvene at the Notary's office for the signing of the notarial deed, at which point the buyer will be required to settle in full the amount corresponding to the price of the said property, less the deposit, as well as notary fees of 6% and the agency commission of 3% excluding tax on the price of the property, in accordance with the scale set by the Monegasque property chamber. In the event that one of the conditions precedent is not lifted, the deposit cheque will be refunded to the buyer and the sale will be deemed cancelled.
The transfer of funds
Once the documents have been signed before the notary, the funds will be transferred to you by the notarial office within 15 days, after deduction of the vendor's agency fees, set in accordance with the scale of the Monegasque property chamber at 5% excluding tax on the sale price.
We hope you now have a clearer understanding of our process for selling a property in Monaco.