Signing a compromis de vente is not something you can improvise. A lack of vigilance on certain points could even have consequences for the final deed of sale. So let's equip our buyer with a "legal parachute" before taking the plunge into buying real estate.
Is it compulsory to sign the private agreement at a notary's office?
There's no obligation to do so, but it's strongly recommended. In today's fast-paced world, it can be tempting to go online and do a little "legal cooking" on your own... instead of waiting patiently for an appointment with your notary. The notary, a real estate law professional, is a must, especially since the ALUR law added compulsory information and documents to be appended to the compromis. The notary can help you avoid making mistakes that could jeopardize the sale at a later date. The 10-day cooling-off period does not apply until all the documents have been sent to the buyer (such as diagnostic reports or documents providing information on the building land's suitability for construction). As a result, the buyer can withdraw from the sale without giving any reason or paying any compensation.
Should I ask for a deposit?
It is common practice in the notary's office to ask for a deposit when signing a preliminary sales agreement, but this is not obligatory. The buyer generally pays a sum corresponding to 5 or 10% of the sale price. This sum is deducted from the total price when the deed of sale is signed. Making a deposit reassures the seller, and gives the buyer a sense of commitment. When you sign a compromis de vente with your notaire, the latter will deposit the sum in a special account, pending completion of the final deed. Under no circumstances should you pay the deposit directly to the seller.
How long should I allow between the compromis de vente and the acte authentique?
Don't allow too little time! It's not a question of "pleasing" the seller or the buyer, as certain timescales are unavoidable. Needless to say, the notary is above all dependent on the administration, the town planning department, the registry office, the banks... Until the file is complete, the deed of sale cannot be formalized! In reality, the time required will vary, depending on the conditions precedent attached to the sale. If, for example, there are pre-emptive rights to be purged, the deadline will be longer. For example, in the case of an urban right of pre-emption to be purged, the commune has 2 months to respond from receipt of the declaration of intent to sell (without a response, it is a tacit renunciation). We therefore need to set a reasonable deadline to allow everyone to do their job.
Stéphanie SWIKLINSKI