Step 1: Real Estate Sale Offer / Real Estate Purchase Offer under French law
When the real estate seller puts their property up for sale, this sale most often takes the form of a real estate sale offer.
When a real estate buyer is interested in the property on the market, they can inform the seller through a document called a “purchase offer” (sometimes also referred to as a “unilateral promise to purchase” or “offer of price”).
Its main characteristic is that it only commits the buyer, not the seller. However, the seller must notify their response within the deadlines and in the form specified in the offer.
On the other hand, the buyer can always withdraw if the seller does not agree on the price mentioned in the offer or if they fail to respond within the given timeframe.
If the buyer makes a purchase offer to the seller and it meets the conditions of the sale offer, the sale transaction can be finalized: this is referred to as a “perfect sale.”
It should be noted that no payment may be requested from the buyer at this stage, under penalty of nullifying the offer.
The notarial office Chassaint & Cerclé Notaires supports individuals and professionals in carrying out the necessary steps for buying or selling a property.
For more information on purchasing: click here; for more information on selling: click there.
Find the next step here: “Choosing the notary in charge of the real estate transaction.“
