The compromise de vente is usually the first document you will sign, though you may be asked to sign a promesse d'achat, especially if you are making an offer below the mandated house price. This shows the Vendor your commitment to buying at the offered price.
The compromise de vente is legally binding and is therefore a very important document.
The compromise de vente is really the first draft of the final contract. Basically it sets out the details of the purchase (what you are buying) and those involved in it (the vendor and the buyer) as well as showing how much you are paying (including what the fees are). It has to be signed by both vendor and purchaser.
Once the 7-day cooling off period is complete the contract is binding on both parties. It is at this time that the deposit is due. The deposit required is usually 10% of the net purchase price but can sometimes be less.
Before embarking on your viewing trip make sure that you have the necessary documentation with you in order that the compromise de vente can begin immediately. You will need:- passport, relevant marriage and divorce papers, birth certificates, and if you are borrowing money to purchase the property you will need details of the loan.
The compromise de vente will take 3-4 weeks, unless you have been able to sign it in France.
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All French Property provide the price and property detail information on this website. Euro prices are correct at the time of adding the property to the website but are subject to change without notice. All French Property provide the property detail information in good faith and it is believed to be correct, but clients are advised to check details for themselves prior to purchasing.
