The validity of a sales agreement is subject to a certain period of time before the sale is fully realized. This period concerns the possibility for the buyer to retract following the signing of a sales agreement, this protection system only applying under specific conditions and following specific formalities.
The conditions under which the withdrawal period applies
In order to protect the acquirer's consent, a withdrawal period is granted to him so that he can easily return to his commitment. It is the law of December 13, 2000 which set up this system of protection of the unprofessional purchaser.
This highly protective device only applies to the non-professional buyer who wants to buy a residential building, whether primary or secondary. The law applies only to built-up buildings, regardless of whether they are new or old. Anything that can be included as part of a professional activity does not benefit from this withdrawal period. Thus, the purchase of an immovable for resale is a commercial activity that does not allow the withdrawal period.
As for the seller, he is not concerned by this measure of protection: from the moment he signed the sales agreement, he finds himself fully committed to the buyer.
The formalities of the withdrawal period
The law grants the buyer a period of seven days which runs from the presentation either by hand or by registered letter with acknowledgment of receipt of the notification of the preliminary contract signed by the parties.
In case of pluralities of purchaser, the notification must be made to each of them. This period begins the day after the presentation of the notice of the sale agreement. To be able to retract, the buyer must indicate his intention to reconsider his decision before the expiry of this period by a registered letter with acknowledgment of receipt. Retraction takes place in the same form as notification.
The buyer does not have to justify any reason to be able to retract. However, he can not make reservations in his letter of withdrawal: the buyer must return to his commitment in its entirety. If he wishes to make a change, he needs the agreement of the seller who will be the subject of a new notification.
- The deed of sale of a land or a house
- The title of acquisition of a property
- Release of mortgage