Mister Immo - The sale contract

The sale contract

purchase

The compromise of sale It is a preliminary contract but it engages you as well as the salesman! It can be signed “under private signature” (at the agency if the sale is concluded by its intermediary) or in front of notary. The compromise of sale fixes the conditions of sale. Those are only reiterated during the signature of the notarial act and can be modified or supplemented only with the agreement of the salesman! On this preliminary contract must in particular appear: - the price (in theory Net of fees), - the detailed description of housing and its appendices, - the situation mortage holder and rental of housing, - the date of the signature of the sale contract in front of notary (notarial act) and goes back it and conditions to taking possession of housing, - financing of the price and the indication if it will be paid with L `assistance D `one or more loans; in L `affirmative, it must comprise a condition precedent D `obtaining loans (see below), - the value of the the works voted in joint ownership and designation this that - of the salesman or the purchaser - who will have the load of it - the amount of the fees of L `intermediate which will have concluded negotiation OAS_AD (“Middle”); (in theory with your load, the price being of course decreased of as much and thus “expenses”, from where interest to proceed thus…) .

It must be pointed out that the need D `a preliminary contract is ordered by three important factors: - the time to obtain a certificate D `up to date town planning, without which the conclusion of sale N `is not possible; - need for purging the possible right of pre-emption of the city; - if necessary L `uncertainty at L `purchaser D `to obtain his financing. These three uncertainties give place to L `insertion in L `preliminary contract of condition precedents. This clause enables you to emerge from your obligations and to recover the amount of your payment (see hereafter) if at least of these conditions is not filled: for example obtaining your credit and a certificate of town planning without nasty surprises; the condition precedent of credit is obligatory, if not the compromise must comprise a handwritten clause of renunciation in all knowledge of cause… Other condition precedents can be negotiated according to the characteristics of the operation: obtaining a particular, raised authorization of a constraint, etc The lifting of the condition precedents makes the sale perfect without another formality. The parts cannot emerge whereas D `a common agreement, or under conditions which will have been fixed in L `act (denied or penalty clause in particular).

Unless the regularization of L `act cannot take place because of the salesman, the payment carried out with the signature of the compromise becomes installment on the price and remains definitively sure with this last.

7 days to reflect or retract

you Pursuant to law “SRU” (law of December 13, 2000 relating to Solidarity and the renewal urban), a right of retractation or time for consideration - according to whether the act were established under private signature or in front of notary - 7 days exists for all the types of new or old residences. The compromise signed at the agency must “be notified to you” by the latter in recommended with acknowledgement of delivery or by way D `usher. You then have a 7 days deadline as from the shortly after the first presentation of the registered letter or significance of the act of usher to address a letter of retractation by letter registered with acknowledgement of delivery, the date D `sending having to be included within the time. Since the law of July 13, 2006 known as law “ENL” (national Engagement for housing), you have the same faculty if the compromise is signed in front of notary, this one having to follow the same procedure. So on the other hand - not very current situation in practice the act authenticates (see below) was prepared without preliminary preliminary contract, a project of the act must be addressed to you by the notary, and the act can be signed only after one time for consideration 7 days calculated also in the same way…

Law “ENL” provided that the notification of the compromise or the project of act can carry out by handing-over against annotating or receipt, but this faculty is reserved for the acts concluded via a professional (real-estate agent, notary, lawyer, certain real experts…) ; a decree must still specify the methods of them…

To sign a compromise obliges to pour up to 10% of the amount of the sale

It does not matter its name - deposit, down payment, installment or allowance of immobilization - it is the payment which the salesman will ask you to stop the business. It is fixed freely and can reach 10% of the amount of the sale. It is charged to the selling price during the signature of the notarial act. The payment should not in no case to be made between the hands of the salesman, but those of the agency which will have concluded the conclusion of the sale, or of the notary at which is signed the compromise and which will have to reiterate the sale contract. This sum is acquired with the salesman in the cases envisaged with the compromise of sale and generally in all the cases where the transaction cannot lead because of purchaser; it is on the other hand recoverable in the event of realization of one of the condition precedents, and the compromises envisage, in addition to its refunding, the payment of an equivalent sum by the salesman in all the cases where the transaction cannot lead of its characteristic made (principle of the “down payments”). The payment always takes place with the signature of the compromise. In the event of retractation, the funds must be to be refunded to you within 21 maximum days as from the following day of the date on which addressed it to you.

The offer of purchase

IS are a purely unilateral act which enables you to materialize your determination D `to acquire under determined conditions, but lower than those required of the salesman, and to thus make advance the negotiation; the real-estate agent can encourage you there in order to have with respect to the salesman arguments to obtain a reduction in its claims… Since June 1, 2001, no payment can be hardly accepted of nullity of the offer and its possible acceptance! Caution: this technique must be used with prudence; indeed, an offer of purchase contresigned by the salesman is worth compromised sale and any clause or condition precedent which would not be inserted there can be refused by the salesman, who holds then a perfect sale qu `it can make carry out jusqu `with the end! From where the absolute need for writing an offer of purchase exactly like a compromise of sale and for envisaging all the conditions of the transaction there, even if it is envisaged, as it is frequently the case, than the accepted offer is reiterated in the form of compromise in due form…

The notarial act (or act authenticates)

As soon as all the conditions for the sale are met (obtaining the loans, obtaining the documents of town planning, “purges” possible right of pre-emption of the town hall, etc), L `sale contract can be signed in front of notary by yourself and the salesman. The choice of the notary must be made by mutual agreement, but each part can utilize jointly the notary of its choice without heaviness of the cost of the act, the two notaries sharing the fees then. Before signing this final act, and as far as possible, ask the salesman to remake a turn in housing to check that nothing N `changed since your preceding visit. With the signature of L `sale contract, you will pour the remainder of the sum as well as the “authenticated expenses” corresponding makes some with the fees themselves notaries, with the fees registration, and a provision for sundries of the publication and the Land Registry. The notarial act notes the transfer of property and the payment of the price with the salesman. If it is of a good in joint ownership or a house belonging to an allotment, the signature of the act is accompanied by the handing-over by the salesman of his copy of the payment of joint ownership or the schedule of conditions of the allotment. Lastly, the notary who wrote L `act keeps an original of it - the minute. He gives you thus keys qu `a certificate of transfer of property. A copy of this act which constitutes your document of title will be sent to you after formalities, accompanied by the bill of the costs and refunding by the pay of the versed provision. Do not hesitate to claim these elements if they are long in arriving and preserve the act preciously.

With Universimmo.com .

[ Back ]