Deed of sale of a dwelling in the future state of completion (Véfa)

Verified 24 December 2020 - Directorate for Legal and Administrative Information (Prime Minister)

The sale in the future state of completion (Véfa) is a contract by which the buyer acquires a property to be built or under construction. The seller undertakes to deliver the goods to him as soon as the construction work is completed. This act must be performed and signed at a notary. It is mandatory that he mention certain information.

The sale in the future state of completion (Véfa) is a contract by which the buyer acquires a property to be built or under construction. The buyer becomes the owner of the land when the contract of sale is signed, then the owner of the property as it is built. The vendor undertakes to deliver the housing to him as soon as the construction work is completed. This property can be a detached house or an apartment.

As soon as all the conditions for the sale of the dwelling to be built are met, the contract of sale is signed before a notary. It may be preceded by the signature of a reservation contract (or preliminary contract).

Information concerning the parties

The sales contract must contain 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 works (GFA). The GFR or GFA can be implemented by the buyer in case of financial failure of the seller. This failure is characterized by a lack of cash needed to complete the building.

Information on accommodation

Flat

The sales contract shall contain the following information:

  • Address of the accommodation
  • Detailed description of the accommodation, its equipment and its annexes
  • Situation of the dwelling in the building or in a housing complex
  • Description of the work which the purchaser has decided to carry out when the sale is preceded by a preliminary contract (interior wall finishing, coating or installation of heating or sanitary equipment and, where appropriate, furniture suitable for them)

The following documents must also be annexed to the contract of sale:

  • Co-ownership Regulation if the dwelling is located in a condominium
  • Attestation of non-life insurance subscribed to the opening of the construction site
  • Side plan and notice indicating the specific equipment of the dwelling
  • Plan showing the number of buildings in the housing complex, their location and the number of floors of each when the housing is located in this complex
  • Air noise pollution condition for properties located in one of the noise zones defined by a noise exposure plan
Detached house

The sales contract shall contain the following information:

  • Address of the accommodation
  • Detailed description of the accommodation, its equipment and its annexes
  • Description of the work which the purchaser has decided to carry out when the sale is preceded by a preliminary contract (interior wall finishing, coating or installation of heating or sanitary equipment and, where appropriate, furniture suitable for them)

The following documents must also be annexed to the contract of sale:

  • Subdivision by-law if the dwelling is located in a subdivision
  • Attestation of non-life insurance subscribed to the opening of the construction site
  • Side plan and notice indicating the specific equipment of the dwelling
  • Air noise pollution condition for properties located in one of the noise zones defined by a noise exposure plan

Sales Information

The sales contract must contain the following information:

  • Delay of delivery of the accommodation and possible penalties in case of delay
  • Total price of the sale and any conditions for revising the amount
  • Conditions for the staggering of the amount of work
  • Possible condition for obtaining a loan
  • Conditions for exercising the right of reflection (failure to comply with this obligation to provide information is punishable by a fine of up to €15,000)

Signature

The contract of sale must be executed and signed before a notary. The notary must ensure the advertising of the land by publishing the deed of sale in 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.

Notification

The sales contract must be delivered by hand or sent by registered letter with notice of receipt.

If the contract is not preceded of a booking contract, the buyer has 10 days to reconsider his commitment to purchase the property.

This period shall begin on the day following the firstre presentation of the registered letter notifying him of the document or of his hand-over.

If the last day of the reflection period is a Saturday, Sunday, holiday or non-working day, the period is extended to 1er working 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 stagger the payment according to the progress of the work and according to the schedule provided by the sales contract.

The maximum amounts are as follows:

  • 35% of the total price when the foundations are completed
  • 70% of the total price when the dwelling is put out of water
  • 95% from the total price to completion of the building

In the absence of reservations as to the conformity of the dwelling with the act of sale, the 5% the remainder shall be paid to the housing delivery. If not, they may be paid as security to the Caisse des Dépôts et Consignations.

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