Housing Ministry passes a decree amending the Loi Alur, aimed at reducing the paperwork and cost of selling an apartment in Paris.    On August 26th, Minister of Housing Sylvia Pinel presented a new measure to the Council of Ministers to amend certain provisions of the Loi Alur and thus facilitate real estate transactions on Parisian apartments. Garnering […]

The time frame to decide whether to go forward with buying a property in France after signing a promesse de vente, or preliminary contract, has been extended from 7 to 10 days under the Loi Macron. As of August 8th, residential real estate buyers in France will have 10 days after signing the initial purchase agreement to […]

The essential purchase process is divided into two stages.  First, the purchase is formalized by a preliminary contract that may be prepared by a notaire – a promesse de vente – or by an estate agent or privately between the parties – a compromis de vente. In either case, the seller is obligated to sell […]

A compromis de vente is a mutual obligation of the buyer (to buy) and the seller (to sell). Literally translating as “a promise to sell,” the promesse de vente is a unilateral obligation to sell. There are two substantial drawbacks to a compromis de vente:

Whether the parties sign a compromis de vente or a promesse de vente, the preliminary contract will always contain the following terms: