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Cooling Off Periode

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Seven Days
Once the Compromis has been signed by both buyer and seller, you still have a seven day “cooling off” period. During this time, you can withdraw from the sale without penalty but the vendor cannot. If you exercise this right, a registered letter must be received by the Notaire before the seven days has elapsed.


Once the cooling off period is complete, the contract is binding on both parties . The deposit is normally 10 per cent of the net purchase price, and will be required by the end of the cooling off period if not before. The Compromis is now a binding contract (subject to the clauses Suspensives) and if you withdraw, you could lose your 10 per cent deposit.


Property Searches
Once you have signed the Compromis, the searches on the property begin. These will include ownership, land boundaries, rights of way etc. The Notaire is responsible for ensuring that these take place and you do not need to pay separately for them.


Preparation for Completion
You need to transfer the balance of your payment plus the legal expenses to the notaire's account in plenty of time for the final signing date, which is normally about 10 weeks after the initial contract. This date will have been agreed with the vendor, via either us or the Notaire and it is important that you meet the deadline. If you miss the completion date, you can lose both the house and your deposit. This transaction may also involve your mortgage lender, who must ensure that the money for completion is in the notaire's account in plenty of time. No transaction will be complete until all monies have been cleared in the notaire's account.

 


QuickLinks

Overview

Asking vs Offer Prices

Making your offer

Compromis de Vente

Cooling Off Period

Acte de Vente

After Completion

 

See also...

Why buy through us?

Our Services

The Discreet Portfolio

 

 

 

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