Down payment ?
Guaranteed Deposit
At the moment of signing the preliminary reservation contract, the purchaser verses a guaranteed deposit which corresponds to 5 % of the property sale price. This amount is blocked in a separate account until the definitive signing of the notarised deed.
Payment Installments
Under VEFA, you pay your purchase step by step, in progress with the work, in the following way :
- 5 % at the signature of the preliminary reservation contract,
- 30 % when the footings are completed,
- 25 % when the floor of the first level is completed,
- 10 % when the roof is completed,
- 20% when the exterior openings are completed,
- 5 % when the building is finished,
- 5 % when the keys are handed over.
The sales contract
It is obligatory to sign the definitive sales contract in the presence of the vendor’s public notary or "notaire", but nothing stops you from using your own "notaire". In this case, the fees are do not rise as they shared between the ‘notaires’. For new property purchase, the fees are subject to reductions that are between 2 and 3 % of the purchase price, being 66 % less than old. In this percentage is included the property notice tax, payment of the solicitors fees and diverse costs.
Security
To buy "keys in hand" under VEFA, is the certainty :
- of a respected delivery date,
- an inclusive price fixed at the signature,
- the completion of your accommodation,
- the reality of the service as described.
