Compromis is not always final step in france

Compromis is not always final step in france

Play all audios:

Loading...

WHEN SELLING OR BUYING A HOUSE THE COMPROMIS DE VENTE IS OFTEN SEEN AS A CONTRACT THAT BINDS BOTH PARTIES, WITH PENALTIES FOR ANY BREACH. IN REALITY, A COMPROMIS HAS GET-OUT CLAUSES. A


_compromis_ is a pre-contract that is signed before the _acte de vente définitif_ but recognises there are several reasons why a sale can fall through and leaves room for either side to


exit. The first way is via the 10-day _délai de rétractation_ reflection period for buyers where they can stop the sale without giving a reason by sending a registered letter _lettre


recommandée avec accusé de réception_. _Clauses suspensives_ (‘get-out clauses’) can be written in by either side to halt a sale such as if the buyer fails to find a mortgage within a set


time (notaires can request proof of refusal). If circumstances regarding the property have changed from when a _compromis_ was signed – such as a ‘quiet’ neighbourhood has become noisy –


this can also be reason to pull out as correct information was not given, the _devoir d’information_.