What the marocain.investments scores are NOT — the honest list

What the score is not

The marocain.investments score is a relative quality-and-deal signal computed from listing data. It is useful for triage. It is not a regulated document, not a forecast, and not a substitute for the human professionals who close a Moroccan transaction.

Not a survey, not an appraisal, not a court document

• Not a structural survey. The score cannot detect hidden defects, cracks, damp, or electrical and plumbing issues — that requires an on-site diagnostic by a qualified *bureau de contrôle* or architect.
• Not a formal appraisal (expertise immobilière). The score is not signed by a Moroccan *expert-évaluateur agréé* and is not admissible as a valuation document.
• Not accepted for mortgage underwriting. Moroccan lenders require an *expertise* from an approved expert on their internal panel. The score is not that input.
• Not a tax-base valuation. It cannot set the base for *droits d'enregistrement*, TPI, or *taxe d'habitation* — the DGI uses its own *référentiel des prix de l'immobilier* and official expertises.
• Not legal evidence. Moroccan courts require a court-appointed *expert judiciaire* for partition, divorce, succession, or litigation.

Not a forecast, not a photo audit

• Not a transaction-price forecast. The score is a relative signal against comparable listings at a point in time, not a prediction of the price the property will sell or resell at.
• View not verified on-site. Visual analysis reads the seller's marketing photos — which can be staged, retouched, drone-shot, or taken from a different unit on the same floorplan.
• Photos not forensically verified. The score cannot prove that images are not AI-generated, edited, or reused from another unit.

Not a title check, not a permits check

• Not a substitute for the notaire's title work. Only a *notaire* or *adoul*, working with ANCFCC records (*titre foncier*, *certificat de propriété*, *état des charges*), can confirm clean title.
• Encumbrances not checked. *Hypothèques*, pre-emption rights, *servitudes*, unpaid syndic charges, and pending administrative procedures are invisible to the score.
• Not an urbanism / permits check. *Permis de construire*, *permis d'habiter*, conformity certificates, *Plan d'Aménagement* zoning, and the legality of extensions or rooftop builds sit with the *Agence Urbaine*, not with us.
• Not a syndic audit. The score cannot read arrears, planned major works, reserve-fund status, or litigation under Loi 18-00.

Not personalised, not a yield or FX model

• Not investment advice. The score does not account for the buyer's residency status, leverage, currency exposure, or holding horizon.
• Yield and short-let legality not guaranteed. Municipal *arrêtés* in Marrakech, Casablanca and Tangier — and the syndic *règlement* — can prohibit Airbnb-style use.
• FX and repatriation not modelled. MAD/EUR and MAD/USD risk, Office des Changes capital-repatriation rules, and the *compte convertible* framework are out of scope. (See the FCR playbook for the actual repatriation mechanics.)

Not KYC, not hazard mapping, not metrology

• Seller KYC not performed. Verifying the seller's identity, capacity to sell, and AML obligations under Loi 43-05 is the *notaire*'s statutory duty.
• Environmental and hazard risk not assessed. Seismic zones (Al Haouz 2023), flood-prone *wadis*, coastal erosion, and pollution on the parcel are not captured in listing data.
• Surface area not measured. Only an on-site *métrage* by a *géomètre topographe* is authoritative on habitable vs terrain, balconies and terraces.

Point-in-time, machine-generated

• Point-in-time, not continuous. The score reflects listing data at the moment of analysis and can go stale.
• Not a substitute for human professionals. *Notaire*, architect, *expert-évaluateur*, *fiscaliste*, and a local agent who has physically visited the property remain in the loop.

The honest ledger

What the score proves: that, at one moment in time, against comparable listings, this property reads better or worse on observable signals.

What the score still has to prove — and never will, without humans on the ground: clean title, legal use, true surfaces, real condition, AML on the seller, the price you will actually transact at, and the view from the actual window.

*Internal policy document — the platform's explicit list of what the scoring rubric does NOT do. Reasoning is platform-canonical. Decision-support, not a certified appraisal or investment advice — confirm anything material with the qualified human professionals above.*