Important steps in the purchase of real estate
You've found the property of your dreams, the one you've been looking for for a while and you already see yourself moving in? Some steps separate you from the realization of the project of your life, we explain you which ones in this article.
Make an offer
After months of research, you have finally set your choice. It meets the criteria you are looking for, the price matches your budget and you have funding in sight. It is now time to formalize the offer. How does it work ?
You have the choice to make an offer for oral purchase or to put it in writing. Only the written offer commits the parties (the buyer and the seller). The written purchase offer constitutes a legal commitment: if the seller accepts your offer, you agree to purchase the goods.
If you decide to make a written offer, be aware that you must write a letter that mentions the amount of the offer you make, a time limit that you give the seller to accept or reject your offer (usually 10 days), your withdrawal period and your financing in particular. If you do not use a bank to get a loan because you have the funds, specify it in the offer.
Other important mentions may also appear in the offer such as the expiry time of your offer or the terms of the seller's response (mail, e-mail ...). You can also specify the suspensive clauses, that is to say the conditions that determine the realization of the sale. The most common of the suspensive clauses concerns obtaining a loan.
Signature of the compromise or promise of sale
If your offer is accepted by the seller, then it is a matter of agreeing on the notary in front of which will take place the signing of the sales agreement. This document will fix the sale and allow the notary to start preparing the signing of the deed of sale.
A sales agreement is a "pre-contract", which is signed by the seller and the buyer. This document fixes the price of the property between the seller and the buyer, as well as the various conditions of the sale (clauses precedence, date of signature of the authentic deed ...). The seller must provide before the signing of the compromise, a technical file of diagnostics, which allows the purchaser to buy knowingly.
At the time of signing the compromise, the buyer pays a deposit to the total amount of the property. You have to know that signing the Notary Notary Agreement is not always an obligation, but it allows you to give a legal value to the signature of the compromise, in addition to benefiting from the verification by the study of the different clauses and different documents. attached to the compromise.
Obtaining funding, if applicable
If you have applied for financing to acquire the property, you have some time to obtain it. This period usually ranges from 45 to 60 days.
Signature of the authentic deed of sale
If you decide not to retract and you get the financing you requested from the bank, you can move on to the next step: the signature of the authentic deed of sale. The seller and you sign in front of a notary the document that will definitively formalize the sale. That's it, the good is yours!