FRELA provides assistance in real estate law to help you draft your purchase offer
Are you planning to purchase a high-end property? Entrust the drafting of your purchase offer to competent and recognized attorneys specializing in acquisitions law.
When you decide to purchase a property, you will need to submit a purchase offer. An oral purchase offer does not legally bind either party. To secure an offer, it is necessary to submit a written purchase offer.
The written purchase offer is a legal document that commits you to purchase the property upon its acceptance by the seller. If you decide to withdraw or fail to meet the conditions stated in the purchase offer, you will be liable to pay damages to the seller. Once signed by the seller, the document cannot be modified. Therefore, it is crucial to exercise caution before submitting it to the seller.
FRELA, as attorneys specializing in real estate transactions, will accompany and advise you in the drafting of your purchase offer, to ensure the security and optimization of your transactions in France.
The purchase offer is regulated and must include the following specific information:
In France, a purchase offer for a real estate property must comply with certain legal requirements. Here are the key elements that should be included in a purchase offer in accordance with the law:
Seller and buyer’s contact details: The offer must include the contact information of both parties, including their names, addresses, phone numbers, and email addresses.
Description of the real estate property: The offer should provide a detailed description of the property being offered for purchase, including its address, size, features, and amenities.
Proposed price: The offer should state the amount proposed for purchasing the real estate property, as well as the payment terms, including the amount of the deposit.
Sales conditions: The offer must specify all proposed sales conditions, such as the transfer of ownership dates, responsibility for taxes, and notary fees.
Potential suspensive conditions: The offer may also include suspensive conditions, such as obtaining financing or completing certain works on the property before the purchase.
Validity period of the offer: The offer should indicate a validity period, which should not exceed 10 days.
Mandatory mentions: The offer must include certain mandatory mentions, such as the phrase “purchase offer,” the date of the offer, the signature of the buyer, and the mention of acceptance by the seller.
It is important to note that the purchase offer is a legally binding document for the buyer. Therefore, it is advisable to seek assistance from a real estate professional or lawyer to help draft the purchase offer and negotiate its terms.
Suspensive clauses and right of withdrawal
Suspensive clauses allow you to cancel the sale under specific circumstances, including instances of loan refusal by the bank, presence of servitudes, or failure to procure necessary permits. It is essential that the drafting of these clauses strictly complies with the current legislation to secure your transaction without discouraging the seller.
The possibilities for withdrawal are regulated and can only occur under the following conditions:
- The seller has not responded to your purchase offer, or they have not responded within the deadlines you have given them.
- The seller has declined your proposal.
- The seller has provided you with a written counter-offer.
The real estate attorneys at FRELA, who act as mandataries in property transactions, can assist and advise you in drafting your purchase offer to ensure the security and optimization of your suspensive clauses during your transactions in France.
Contact us and share your project with us.