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Sale of a condominium unit

Verified 14 May 2019 - Directorate for Legal and Administrative Information (Prime Minister)

Information notice

Ordinance No. 2015-1075 of 27 August 2015 on the simplification of the information procedures of purchasers provides that an information notice is to be given to the purchaser. An order will determine the content of this information notice relating to the rights and obligations of the co-owners and the functioning of the proceedings of the co-ownership union.

The information contained on this page remains current and will be modified as soon as the text enters into force.

In the context of the sale of a condominium unit, certain documents and information specific to the condominium must be given to the purchaser.

The seller of a condominium lot must provide the buyer with documents on the condominium and the lot offered for sale, no later than the date of signature of the promise to sell.

In the absence of a promise, these documents shall be provided to the buyer with the draft authentic deed of sale, with the exception of information concerning the financial statement of the condominium.

The delivery of the documents may be carried out on any medium and by any means, including a dematerialized process subject to the express acceptance by the buyer.

Condominium Organization Information

However, these documents are not required where the purchaser already owns at least one lot in the same condominium.

In case of sale or disposal of a real property right in respect of a lot or a fraction of a lot (parking space, cellar, garage...), the following documents are not required:

  • Minutes of general meetings
  • Maintenance Log
  • Information notice

Information on the financial status of the condominium and the seller 

  • The amount of the forecast budget current expenses and non-budgeted expenses paid by the selling co-owner for the 2 accounting years preceding the sale
  • Amounts liable to be owed by the buyer to the syndicate of co-owners
  • Overall statement of unpaid expenses within the syndicate of joint owners and debt to suppliers
  • Amounts of the share of the work fund attached to the main lot sold and the last contribution paid by the selling co-owner where the syndicate of the co-owners has a work fund

Batch technical diagnostics folder sold

The real estate diagnostics package includes:

The seller must also inform the buyer of the following information:

  • Private surface of condominium lot (Carrez Law)
  • Risk of presence of merule (fungus) when the dwelling is located in an area which has been the subject of a prefectural order of presence of a risk of merule. It can be consulted in the prefecture of the department or on its website.

In the absence of such documents, the buyer may renounce the sale. He has the right of withdrawal.

After signing the sales agreement, the buyer has a 10-day withdrawal period to withdraw from the agreement. This period shall start on the day following the firstre presentation of the registered letter notifying him of the promise to sell or of his handing over.

In the absence of a sales compromise, the buyer has a cooling-off period of 10 days from the day after the 1re presentation of the registered letter notifying him of the draft act or of his handing over.

If the last day of the withdrawal or reflection period is a Saturday, a Sunday, a holiday or a non-working day, the period shall be extended to 1toworking day next.

The renunciation of the sale must be notified to the seller, before the expiry of the withdrawal or reflection period, by registered letter with acknowledgement of receipt.

Warning  

no amount may be claimed during the withdrawal or reflection period.

Exercise the right of withdrawal in the event of the sale of a condominium lot

At the request of the vendor or notary responsible for writing the deed of sale, the trustee must provide the notary with a statement dated less than 1 month from the date of signature of the deed. This document summarizes the condominium charges related to the condominium lot. The document is presented in 3 parts:

  • Remaining amounts owed by the seller to the syndicate of the co-owners
  • Amounts that the union may owe to the co-owner-seller
  • Amounts that should be borne by the buyer of the lot

This dated report shows the following information:

  • Sum of condominium charges corresponding to the lot for the last 2 fiscal years
  • Subject matter and status of judicial proceedings, if any, pending (e.g. unpaid)

The dated report is billed to the co-owner. Its amount is fixed in the trustee's contract under the heading "Costs and fees attributable solely to co-owners".

It cannot be billed beyond €380..

Challenge the amount of the dated statement billed by the trustee for the sale of a condominium unit

FYI  

the trustee cannot multiply the billings in the event of a simultaneous sale of several lots (sale of a dwelling and a parking space for example).

Challenge the amount of the dated statement charged by the trustee for the sale of a condominium unit and parking

Information concerning the parties

The bill of sale must mention the contact details of the seller and the buyer.

Information about the property

The bill of sale must contain the following information:

  • Property address
  • Origin of the property (date of the previous deed of sale, name of the previous owner, notarial act...)
  • Detailed description of the property (its surface area...), its equipment and annexes
  • Existence of mortgage and/or servitude

The balance of the sale price, as well as the notarial fees, must be paid upon signature of the deed of sale.

You can estimate the amount of real estate acquisition costs and understand their distribution between state taxes and notary remuneration using this simulator:

Calculate the amount of the acquisition cost of a real estate

The trustee must be informed by the notary, the seller or the buyer of the change of owner as soon as the sale is carried out (after the signature at the notary).

The change of owner must be notified to the trustee without delay, preferably by registered letter with acknowledgement of receipt.

The letter addressed to the trustee must specify the following information:

  • Buyer's name, first name and domicile
  • Names, forenames and domicile of the authorized representative in connection with property sold in undivided or usufruct if necessary
  • Reimbursement conditions collective borrowing in progress, signed by the syndicate of co-owners
    This loan finances work within the condominium. At the time of sale, the outstanding amounts become immediately due. However, the obligation to repay can be transferred to the new co-owner in an agreement between the seller and the buyer.