FRELA assists you in real estate law for buyers in reviewing the purchase agreement.
Are you planning to purchase a high-end real estate property?
FRELA offers a thorough review of your purchase agreement. We aim to secure and optimize your acquisition contracts in your favor and based on your specific needs. With FRELA, you can avoid pitfalls, reduce the likelihood of disputes, navigate tax and legal constraints, and ensure your rights and obligations are taken into account.
In real estate transactions, the purchase of a property must be formalized through a written agreement, known as the purchase contract or acquisition contract. The buyer first submits an offer, which the seller can choose to accept or reject. This document serves to outline the actions and requirements for both the buyer and the seller before the transfer of ownership takes place.
The contract should establish a set of rights and obligations for both the buyer and the seller. Acceptance of the contract is typically indicated through the signing, payment of all or part of the price, and commencement of fulfilling the obligations. Once accepted, the contract binds both parties and holds them accountable for their respective responsibilities.
The advantages of using FRELA for reviewing your acquisition contract during a real estate purchase:
The acquisition contract or real estate contract is primarily a bilateral agreement between two parties.
The contract must be in writing and comply with the legal requirements specified by contract law in France. The transfer of full ownership of real estate properties is covered by real estate contracts. It is highly recommended to seek the assistance of a mandataire avocat (mandate attorney) specializing in real estate law to review and negotiate your real estate acquisition contract in France.
We will help you consider the expectations, obligations, and provisions of the contract. A real estate lawyer can assist you with these tasks.
FRELA’s support in reviewing acquisition contracts includes:
- Establishing and verifying the mandatory elements
- Reviewing your contracts
- Negotiating the corrective content of your contracts
List of mandatory elements to include in the drafting of an acquisition contract in France:
In France, an acquisition contract, also known as a compromis de vente (preliminary sales agreement), is a legal document that formalizes the purchase of a real estate property between the buyer and the seller. Here is a list of elements to include in the drafting of an acquisition contract in France:
Seller and buyer’s contact details: The contact information of both parties must be included, including their names, addresses, phone numbers, and email addresses.
Detailed description of the real estate property: The contract should provide a comprehensive and detailed description of the real estate property being purchased, including its size, features, and amenities.
Purchase price: The contract must indicate the agreed-upon purchase price for the real estate property, along with the payment terms, including the amount of the deposit and the date of final payment.
Sales conditions: The contract should specify all proposed sales conditions, such as the dates of property transfer, responsibility for taxes and notary fees.
Potential suspensive conditions: The contract may also include suspensive conditions such as obtaining financing or completing certain works on the real estate property before the purchase.
Contract duration: The contract should indicate a validity period, which should not exceed 3 months.
Information about the notary: The contract must specify the name and contact details of the chosen notary to handle the transaction.
Signatures: The contract must be signed by the buyer and the seller in the presence of a notary.
It is important to note that the acquisition contract is a legally binding document for both parties. Therefore, it is recommended to seek the assistance of a real estate lawyer to help with the drafting and negotiation of the acquisition contract.
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