Loan pre-approval:
Consult different banks to obtain a mortgage pre-approval. This involves providing information about your income, debts, and assets so that the bank can assess your borrowing capacity. This step gives you a clear idea of the budget to allocate for your purchase and strengthens your profile with sellers.
Preliminary contract
Signing the preliminary sales agreement
This document binds the buyer and seller subject to certain conditions, such as obtaining a loan. It specifies the conditions of the sale: price, property description, anticipated date of sale, and suspensive conditions (such as obtaining a mortgage or absence of easements). A deposit, often between 5% and 10% of the sale price, is typically paid at this stage.
Legal review:
It is recommended to have the preliminary agreement reviewed by a notary or lawyer to ensure that it does not contain unfavorable clauses.
3. Cooling-off period
Legal period of 10 days
After signing the preliminary sales agreement, the buyer has a legal 10-day cooling-off period during which they can withdraw from the agreement without providing a reason and without penalties. This period begins the day after the agreement is notified to the buyer. If the buyer decides to withdraw, they must send a registered letter with acknowledgment of receipt to the seller to formalize their withdrawal.
4. Obtaining financing
Mortgage approval
After signing the preliminary agreement, submit your final mortgage application to the bank. This includes providing additional documents such as the signed preliminary sales agreement, bank statements, tax assessments, and salary slips.
Loan offer
If your application is accepted, the bank will send you a loan offer detailing the conditions (interest rate, duration, monthly payments). You have a mandatory reflection period of 10 days before accepting the offer.
5. Deed of Sale
Preparation by the notary :
The notary verifies the necessary documents, including the property title, mandatory surveys, and the absence of unpaid easements or mortgages.
Signing the deed of sale
The parties meet at the notary’s office to sign the final deed of sale. At this stage, the buyer pays the remaining purchase price, often using funds from the mortgage loan. The notary authenticates the deed, formalizing the transfer of ownership.
Notary fees :
The buyer also pays the notary fees, which include taxes and the notary’s fees.
6. Handing Over of the Keys
Conclusion of the sale :
After signing the deed of sale and transferring the funds, the buyer receives the keys to the property. The notary then registers the deed of sale with the land registry office, thereby finalizing the transaction.
Registration and post-sale formalities
The notary registers the sale with the tax authorities and provides you with a copy of the finalized deed of sale after registration.
