Frequently asked questions

Frequently asked questions

I am considering buying a property "off-plan". Do I have to pay a sum of money at the preliminary contract?

Acquisition in VEFA (Future State of Completion Sale)

If you sign a preliminary contract as part of a VEFA, you will be required to pay a security deposit into a special account.

The maximum amount of this deposit is set by law. It cannot exceed :

  • - 5% of the estimated selling price, if the time frame for completion of the sale does not exceed 1 year,
  • - 2 % of the estimated selling price if the delay of the sale does not exceed 2 years.

If the time of realization of the sale exceeds 2 years, the promoter cannot ask for any guarantee deposit.

The security deposit is returned to the buyer without deduction or penalty when :

  • - the sales contract is not concluded within the time limit stipulated in the preliminary contract, due to the seller,
  • - the sale price exceeds the estimated price by more than 5%, possibly revised in accordance with the terms of the preliminary contract.
  • - the loan or loans provided for in the preliminary contract are not obtained,
  • - one of the items of equipment provided for in the preliminary contract is not completed,
  • - the property sold presents, in its consistency or in the quality of the planned works, a reduction in value greater than 10%.

The buyer must request the reimbursement of the security deposit, from the seller and the depository of the funds, by registered letter with acknowledgement of receipt.
If his request is justified, the reimbursement will be made within a maximum period of 3 months.