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The preliminary contract and the contract of sale

Before signing the final contract at the notary, the seller will ask you to indicate your commitment by signing a preliminary contract .

The preliminary contract can take two forms : a unilateral promise to sell or a sale agreement also called indenture promise of sale.
note that the scope of your engagement is different depending each of these contracts because these two acts do not have the same legal effect.

A commitment by both parties or a single vendor's commitment : The compromise calls along both sides so that the promise pledges over the seller. So it depends which side you stand. But do not forget that these two acts follow a tradition. Roughly north of the Loire, it is customary to sign a unilateral promise to sell while in the south, compromise is essential. Difficult in this context to require one or the other part of the preliminary contract to sign a document that is not used locally, otherwise the vendor or purchaser not sign anything and the case was not concluded.

The amendments made by the SRU : Law of Urban Solidarity and Renewal (SRU) of December 13, 2000 brings some changes, not so much in terms of either the preliminary contract but level of the transaction itself or not done by a professional.

UNILATERAL PROMISE

The seller commits to sell the property for a specified period ... Unilateral promise to sell the seller commits to sell his property to a prospective purchaser and to anyone else for a period specified in the preliminary contract and discussed between the two parties. It thus gives an option to the buyer, the latter having the time to exercise the option, that is to say buy.

You must deposit a sum of money equal to 10% of the purchase price. In exchange for this promise, the seller requires the prospective purchaser to pay a sum of money equal in general, 10% of the purchase price of the property. This is actually a capital allowance will be paid to the seller if the buyer waives the purchase option period, unless the cancellation is the result of non-fulfillment of a condition precedent .

What you can claim if the seller breaks the contract : Meanwhile, the seller is required to reserve accommodation during the option period granted to the buyer. If the seller withdraws, the purchaser may compel him to sign the final deed of sale assigning to the High Court, or offer him compensation equivalent to twice the compensation that the purchaser would have to pay had he not exercised the option.

Form of contract: Please note that the sales agreement can be established under private seal between the two contracting parties. It is established in as many copies as signatories, plus one for the record. This is required within 10 days from the tax revenue of the buyer. Where appropriate, it would be void.

THE COMPROMISE OF SALE

A firm and final sale : the promise indenture or agreement of sale is a sale closes and marks the final and mutual commitment of both parties. Each can compel the other to honor its commitment to compel by going before the High Court.

A clause providing for the funds in case of renunciation commitments : However, dealer and buyer may reserve the option to renounce their commitment by specifying the amounts due to the other party because of the breakdown of their commitment.

DEFINITIVE AGREEMENT FOR SALE

A deed signed before a notary : This contract, you must sign with a notary who authenticates the document. Although traditionally it is the notary of the vendor who handles the transaction, nothing prevents the buyer to take his lawyer.
If the two notaries involved in the transaction, they will split the fees. This adds no extra cost to the seller or the buyer.

What you need to pay for signature : By signing the final act, as purchaser, you must pay the amount corresponding to the purchase price, the added costs. These consist of:
- human mutation (4.80%)
- costs associated with borrowing
- Disbursements (pay the cost of mortgages and mortgage statements, costs of stamped paper, the notary's fees regulated by Decree:
- 5% from 0 to 3048.98 €;
- 3.30% from 3049.13 to 6097.96 €;
- 1.65% from 6098.11 to 16769.39 € ;
- 0.825% in excess of € 16,769.39. Beware of notaries

greedy! Note that notaries have the unfortunate habit of overstating the amount owed for administrative related costs. Within three months after the sale, remember to order them for you they repay the overpayment.

(sources Paruvendu.fr)