Real estate - Find the right compromise with your notary

100 minutes is essential to become a homeowner, because signing the preliminary contract is not just a formality. The timing must be respected to the letter, to avoid being left by the wayside! Theavant-contrat is a preliminary agreement that constitutes a real "contract" between the parties. It entails obligations for both seller and buyer. It also specifies the conditions of the future sale and marks the agreement of the parties.
Whether it's a "promesse de vente" or a "compromis de vente", it's best to have it drawn up by a notary. Since the Alur law has added a number of compulsory clauses and documents to be appended to the compromis, the services of this real estate law professional are essential. In this way, the notary avoids making mistakes that could jeopardize the sale. A notarized pre-contract secures the transaction.
Given the complexity of legal terms and the multiplicity of existing laws, the drafting of the preliminary contract cannot be improvised. The notary will collect the information essential to the smooth running of the sales process. He will also carry out certain verifications, such as checking the identity and capacity of the parties, and ensuring that the seller is the actual owner of the property.

THE RIGHT REFLEXES

Prefer the notary's valuation and prepare your property:

1 tidy up

1 good cleaning

1 good mowing

1 upgrade for minor repairs

100% personalized

A compromis de vente may include conditions under which the sale will only become final once these have been fulfilled. The sale is therefore subject to the fulfillment of suspensive conditions. In most cases, compromis de vente include one or even several such conditions. In most cases, these are :

• obtaining a loan: in this case, the buyer's commitment is conditional on obtaining a mortgage. With this condition, if the buyer does not obtain financing within the allotted time (production of the loan offer), he will not be committed and the sale will not take place.
• the sale of another property: in this case, it must be specified that the sale can only take place once the buyer has sold his property, which he will use to finance his new acquisition in whole or in part.
• administrative authorization, such as a building permit.

In addition, the land registry informs the buyer if the property is encumbered by a servitude, if there is a mortgage on the parcel sold, a preference pact or any other element that may affect the sale. Analysis of the title deeds is therefore essential. It's out of the question to draw up a preliminary sales agreement without this document, or without being certain that the buyer has "all his faculties". What's more, the compromis de vente must respect a precise timetable: the loan offer must be submitted by a certain date, and the notarized deed must be signed no later than... Certain deadlines are inescapable, such as the purging of pre-emption rights. So it's important to take the time to do things in compliance with the law, and to give your deeds maximum legal security. The notary is a legal professional who draws up deeds in the interests of the parties and in compliance with the law.

100% winning

These are decisive hours, as they lead to a purchase and a commitment for several years. That's why it's so important to find a partner you can trust, such as a notaire, who will take every legal precaution to ensure that the purchase goes smoothly. In certain situations, you need to act fast. In tight markets, properties are going fast, so you need to be quick to confirm your desire to buy. In such cases, the firm's real estate department plays its full role as an interface for submitting price offers to the seller. As the property has been appraised beforehand, the sale price perfectly reflects its true market value. A small margin for negotiation remains possible.
The countdown is much less stressful with an exclusive mandate. In this case, there's less pressure to negotiate with other real estate professionals, since the negotiator has complete freedom to steer the transaction. But exclusivity does not apply to the majority of properties. So, to ensure that this final sprint results in a successful acquisition, you need to be in the best possible frame of mind.
In the home stretch leading up to the signing of the compromis de vente, you need to be able to put yourself in the shoes of the future owner. This presupposes that you have gathered a certain number of documents and obtained a few agreements in principle.
Starting with a bank simulation to prove the buyer's financial capacity. This includes the loan rate, term and monthly payment. In the case of a sale/purchase transaction, the criteria for granting a bridging loan are set out in the bank's offer.
This is also the time to add up the acquisition costs, generally referred to as "frais de notaires". These represent 7-8% of the purchase price of the property. Note that over 80% of this sum includes taxes payable to the State.
As for negotiation fees, these are already included in the price of each property offered for sale. With notaries, these remain very advantageous, averaging around 5%.
All these expenses give us the broad outlines of the financing plan. All that remains is to include the buyer's personal contribution. Ideally, this represents 10-20% of the total cost of the transaction.
In addition to this compilation of figures, you'll need to provide a number of administrative documents, such as the purchaser's identity (surname, first name, date and place of birth), marital status, contact details, etc.
All the conditions seem to be in place for the notary to prepare a draft preliminary sales agreement.
As a legal professional, he has full command of the drafting process and all the documents to be attached. He will also include special and suspensive conditions. It's worth noting that, in addition to the security it provides, signing a compromis de vente at a notary's office entails no specific fees.
These are just some of the advantages of notarial negotiation that will help the buyer win the sale!

THE RIGHT SALES AGREEMENT:

1 precise description of the property

1 study of the title deeds

1 examination of servitudes and adjoining properties

1 urban planning analysis

1 list of suspensive conditions

Christophe Raffaillac