Step 4: Timelines Following the Signing of the Preliminary Sales Agreement (Compromise/Promise to Sell) under French law
Following the signing of the preliminary sales agreement, two key timelines begin.
1. Buyer’s Withdrawal Period
The first timeline is the buyer’s withdrawal period, which lasts 10 days from the moment the seller provides the required documents detailing the characteristics of the property.
In most cases, these documents are delivered at the time of signing the preliminary sales agreement, meaning the buyer has 10 days from the signing date to withdraw from the purchase. Once this period expires, the buyer can no longer back out.
If the buyer chooses to withdraw, they are no longer obligated to purchase the property, and the security deposit or option fee they paid must be fully refunded.
2. Fulfillment of Suspensive Conditions
The second timeline concerns the fulfillment of suspensive conditions, as explained in Step 3. The final sale cannot be completed until all suspensive conditions are met.
To avoid an indefinite waiting period, the preliminary sales agreement includes a deadline. If the suspensive conditions are not met by this deadline, the sale is considered canceled.
However, if all conditions are fulfilled before the deadline, the parties may immediately proceed to the final sale.
The Chassaint & Cerclé Notarial Office assists individuals and professionals in completing the necessary steps for buying or selling real estate.
- For more information on purchasing: click here.
- For more information on selling: click there.
Return to the previous step: “Signing the Preliminary Sales Agreement (Compromise/Promise to Sell)“ or continue to the next step: “Signing the Authentic Deed of Sale.“
