Bill of sale of a dwelling in the future state of completion (Véfa)
Verified 25 March 2019 - Directorate for Legal and Administrative Information (Prime Minister)
Once all the conditions for the sale of a house in the future state of completion (Véfa) have been met, a contract of sale must be concluded. This deed must be done and signed at a notary. It must mention certain information.
Once all the conditions of the sale are met, the contract of sale is signed before a notary.
The contract of sale may take the form of a contract of sale in the future state of completion or a contract of sale at term.
The sales contract in the future state of completion implies that the buyer becomes the owner of the land when the contract of sale is signed, and then the owner of the dwelling as it is built.
The forward sales contract implies that the buyer becomes the owner only upon completion of the works. The sums paid for the execution of the works must be deposited in a bank account. It is only upon delivery of the accommodation that the seller (the promoter) can recover the sum.
Information concerning the parties
The contract of sale must indicate the contact details of the seller and the buyer.
The seller must provide the buyer with a financial guarantee for reimbursement (GFR) or a financial guarantee for completion of the works (GFA). GFR or GFA may be implemented by the buyer in the event of a financial default by the seller. This shortfall is characterized by a shortfall in cash required for the completion of the building.
The sales contract shall contain the following information:
- Housing address
- Detailed description of the accommodation, its facilities and annexes
- Description of the materials used
- Situation of the dwelling in the building or in an immovable complex
The following documents must also be attached to the sales contract:
- Rcondominium settlement if the unit is located in a condominium or rsubdivision settlement if the unit is located in a subdivision
- Certificate of property and casualty insurance underwritten at the opening of the yard
- Side plan and notice indicating the elements of equipment specific to the dwelling
- Air noise status for goods located in one of the noise areas defined by a noise exposure plan
The contract of sale shall indicate the following:
- Precise date of delivery of the accommodation and any penalties for delay
- Total price of the sale and any conditions for revising the amount
- Conditions for the staging of the amount of work
- Possible suspension of obtaining a loan
- Conditions for exercising the right of reflection (failure to provide information shall be punishable by a fine not exceeding €15,000)
The contract of sale must be completed and signed before a notary. The notary must ensure the publicity of the property by publishing the deed of sale to the real estate file located in the Mortgage Service on which the property depends.
Who shall I contact
The notary keeps an original, called the minute.. He must give a copy to the purchaser who must keep it.
The contract of sale must be delivered by hand or sent by registered letter with notice of receipt.
If the contract is not preceded a booking contract, the buyer has a 10-day cooling-off period to renege on his commitment to buy the property.
This period shall begin on the day following the firstre presentation of the registered letter notifying him of the act or of his handing over.
If the last day of the cooling-off period is a Saturday, a Sunday, a public 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 reflection period, by registered letter with acknowledgement of receipt.
The buyer must make the payment according to the progress of the work and according to the schedule provided by the contract of sale.
The maximum amounts are:
- 35% the total price when the foundations are completed
- 70% the total price when the accommodation is taken out of water
- 95% total price at completion of the building
In the absence of reservations as to the conformity of the dwelling with the deed of sale, 5% remaining payments to the delivery of accommodation..
- Building and Housing Code: Articles L261-1 to L261-22Form of sales contract
- Building and Housing Code: Articles R261-1 to R261-7Housing delivery
- Building and Housing Code: Articles R261-11 to R261-16Content of the sales contract and settlement of the sale
- Building and Housing Code: Articles R261-17 to R261-24-1Completion and reimbursement guarantees
- Building and Housing Code: Articles L271-1 to L271-3Withdrawal period and fines
- Planning Code: Article L112-11Air noise status
- Air noise status
- Contract for the reservation of a dwelling in the future state of completion (Véfa)Service-Public.fr
- Delivery of a unit sold in a future state of completion (Véfa) Service-Public.fr
- Real Estate Diagnosis for Airport NoiseService-Public.fr