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Contract for the reservation of a dwelling in the future state of completion (Véfa)

Verified 11 December 2019 - Directorate for Legal and Administrative Information (Prime Minister)

When the seller (the promoter) and the buyer have reached an agreement on the sale, they can sign a reservation contract (or preliminary contract) before the final bill of sale is signed. This document is not mandatory, but it is recommended to express the mutual agreement of the seller and the buyer. It determines the precise conditions under which the sale of the dwelling will be carried out.

The reservation contract (or preliminary contract) of a dwelling in Véfa already determines the conditions under which the sale will be made. This contract commits the seller (the promoter), if the program is started, to reserve a dwelling to the buyer.

FYI  

the sale in Véfa should not be confused with the sale in the future state of renovation (VEFR) which concerns the renovation of existing buildings.

Information concerning the parties

The booking contract 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. A default occurs when the seller does not have the funds to complete the building.

Accommodation information

The booking contract shall contain the following information:

  • Housing address
  • Living area of the dwelling, number of main parts and enumeration of service parts, outbuildings and clearances
  • Description of materials used and equipment
  • Situation of the dwelling in the building or in an immovable complex

FYI  

one air noise condition must be annexed to the contract for the reservation of goods located in one of the noise zones defined by a noise exposure plan.

Sales Information

The booking contract shall contain the following information:

  • Forecast selling price of the unit and price revision conditions
  • The date on which the sale can be concluded
  • Loans obtained to finance the acquisition of housing
  • Conditions for the recovery of the security deposit in case of renunciation of the purchase
  • Job execution time
  • Information on the conditions for exercising the right of withdrawal (failure to fulfill this obligation to inform shall be punishable by a fine not exceeding €15,000)

The contract shall also indicate the work which the buyer may reserve. The limiting list of work is as follows:

  • Installation of sanitary equipment of the kitchen and furniture to accommodate them
  • Installation of sanitary facilities in the bathroom or shower room and furniture to accommodate them
  • Installation of sanitary equipment of the toilet
  • Wall tiling
  • Floor covering excluding insulation
  • Electrical convector equipment, where the characteristics of the electrical installation permit and within the required power
  • Wall decoration

Signature

The booking contract can be made at a notary. It will verify the property rights of the seller and gather the necessary documents to write the sales contract..

Who shall I contact

The booking contract may also be subject to a private signature directly with the seller and the buyer.

Notification

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

The buyer can renege on his commitment to buy the house within 10 days.

This period shall begin on the day following the firstre presentation of the registered letter notifying him of the contract or of his handing over.

Terminate the reservation agreement for an apartment sold on a plan

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 withdrawal period, by registered letter with acknowledgement of receipt.

The seller can ask the buyer to pay a security deposit into a bank account opened in his name in return for the reservation of the accommodation.

The amount of the security deposit shall be limited to 5% the selling price if the bill of sale is signed within less than 1 year; or 2% the selling price if the document is signed within 1 to 2 years.

If the bill of sale is signed after 2 years, no deposit can be claimed.

FAQ

HOW TO ?