What is the offre d’achat, Promesse de vente and Compromis de vente?
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What does offre d’achat, Promesse de vente and Compromis de vente mean in France?

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This post is also available in: French

If you are buying property in France, you might feel overwhelmed by the paperwork. Your heart says ‘This is my dream house’ but your logic sense whispers ‘Watch your back, they’re all French…’ Luckily, we are in Europe and the buying process has become very transparent, especially in France. And of course, you have the friendly Dutch people from Living on the Côte d’Azur to assist you! Here we explain the differences between Offre d’achat, Promesse de Vente and Compromis de Vente.

What is an Offre d’achat

Once you are you happy with the final price, the selling real estate agent will propose an ‘offre d’achat’ for the existing property. The main aspects of the property are in this paper described, such as address, lay-out, size and separately made agreements. This information is signed by both parties and then the notary will use this info to make a provisional purchase agreement. This agreement should be signed within 30 days of the ‘offre d’achat’.

Offre d’achat is a unilateral promise from the buyer to the seller. The potential buyer indicates that he wants to purchase the specified property within a specified period. However, it does not guarantee that the house must also be sold to the buyer. The offre d’achat largely describes what you wish to buy. If the term expires and buyer and seller do not agree, then the offer will expire.

 

What is La Promesse de Vente

La Promesse de Vente is a unilateral promise by the seller. Seller agrees with this “Promise of Sale” that he agrees to sell the property at a certain price for a given period. The buyer pays 10% and gets a period of 7 days to rethink the decision and stop the buying process. If the notarial deed is on for signing, your 10% of the purchase amount will be deducted and you will pay the remaining amount. If you do not provide a timely notice of cancellation and you have no decisive reasons (such as reserve funding) then you will be in default and the seller may retain your 10% deposit.

 

What is a Compromis de Vente

The Compromis de vente is a purchase agreement between the two parties. The seller agrees to sell his property, while the buyer agrees to buy the property for an agreed price. After signing the initial purchase agreement, you always have a right of withdrawal of 7 days as a buyer. In addition, it has suspensive terms, which means that the purchase will not continue under certain conditions such as not obtaining a loan. Source

If you want to choose from quality existing properties, you can work with Living on the Côte d’Azur. We’ve been active in French Riviera real estate since 2006 and only work with professionals. Our services to find suitable existing properties, negotiate a fair price and find a notary that talks English are free of costs. Call or WhatsApp with Ab and Jo on +33770186203 or mail us at info@livingonthecotedazur.com We are open seven days a week to give you the best service available on the Côte d’Azur.

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About The Author
Ab Kuijer

Experienced communicator and marketeer. Former radio, TV and advertising producer in Amsterdam. Author of ‘Think Small, Grow Big’ that explains why advertising is dead. Owner of an international marketing agency specialised in real estate. Lives in the South of France since 2006 for obvious reasons: sun, sea, wine and healthy food. Became on the Cote d'Azur the first Dutch President of the British Chamber of Commerce, later rebranded the Riviera Business Club. Happily married to Jojo. Ab reads and writes 2000 words per day about different topics.Living on the Côte d'Azur is the first real estate portal with a personal service. A daily fresh collection of more than 1400 high-value luxury properties and new construction projects along the French Riviera; from Menton to Saint Tropez. Clients recommend us for being responsive, professional, honest and accurate.With local multi-lingual teams, Living on the Côte d'Azur provides a 'Good old Dutch' Service for foreign buyers, helping them on the journey from a long-list selection towards visiting the short-list. We explain how French real estate law works, and guide the buyers through the impressive French paperwork and are finally present at the notary for the final deed.