Also called synallagmatic promise of sale, a sales agreement is signed when the seller agrees to sell his property to a buyer, for a previously agreed price. It thus formalizes an agreement in principle between the buyer and the seller of a property. When the sales agreement is strictly framed, it can be signed at the real estate agency, at the notary’s or even under private signature.

 

When do you have to sign a sales agreement?

The sales agreement stage begins when the buyer and the seller have agreed on the price of the property, as the civil code says. This occurs when the other party has accepted, in writing or verbally, an offer to purchase or one of the counter-proposals. This is a preliminary contract preceding the signing of the authentic deed of sale. Are you having difficulty selling your property on the Côte d’Azur? Call on Ange d’Azur. Indeed, the objective of a sales agreement is to seal the agreement between the seller and the buyer regarding the sale of a property. The two parties thus agree on the price and the terms of payment for the property. In order to anticipate the clauses and other conditions of the contract, the delay before signing the sales agreement will be taken advantage of.

 

What is the legal period between the sales agreement and the deed of sale?

In general, a period of several months is reserved between the signing of the sales agreement and the deed of sale. However, a deadline is often mentioned in the contract. The period must be long enough to allow the verification of all the suspensive clauses, if applicable, such as obtaining the loan, the discharge of the right of preemption and mortgages, the concretization of a real estate transaction if the buyer is selling his own property, etc. In practice, there is a delay of two to six months between the signing of the sales agreement and the deed of sale. But the average duration is three months. Indeed, it is the time necessary for the notary to gather all the documents necessary for the realization of all the necessary steps for the transfer of the property.

Note that if the buyer decides to withdraw during the legal period, then he can recover the amount paid as the deposit. Indeed, the law provides for a withdrawal period of 10 days, from the day of signature. The buyer can thus cancel the sale without justification and without financial compensation, during this ten-day withdrawal period. Trust professionals like Ange d’Azur to assist you in the sale of your property on the Côte d’Azur.