Sale of real estate: can I renounce a promise to sell?

The purchaser of a property has ten days to exercise his right of withdrawal.

“I signed a promise of sale to a notary for the purchase of an apartment. Finally, I changed my mind. What is the withdrawal period and am I sure to recover the advance of 5% of the value of the property that I have paid into the notary’s account, that is 14,500 euros? Nathalie Giraud, lawyer at the PAP real estate site (De Particulier à particulier), answers our reader.

“When signing a sales agreement, the buyer has 10 days to change his mind. In the case of hand delivery, the period runs from the day after signing. If the notary has sent the compromise by post, the period begins the day after the first presentation of the registered letter to you. Finally, if the deadline expires on a Saturday, Sunday or Monday, it is carried over to the next working day.

This right of withdrawal concerns all purchases of housing, but not isolated land (excluding subdivisions). It allows the buyer to have the time to read the diagnostics and the condominium documents, before committing, over several decades most of the time. The objective is to avoid an impulse purchase.

If you withdraw within the time limit, you are sure to recover your advance. Specify in your letter that you are requesting reimbursement, in accordance with article 1271-2 of the Construction Code. The professional, generally the notary, has 21 days from the day after the date of withdrawal to return the blocked funds to you. “

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