Buying a home is an important project, which is why seloger suggests that you follow these 9 recommendations, step by step, in order to avoid unpleasant surprises.
1 – Works in the condominium
First of all, remember to consult the minutes of the general meeting to which you have access and check whether work in the co-ownership has been voted on, or even simply mentioned recently.
The rules in terms of work are very simple: whoever is the co-owner at the time of the call for funds must pay the amount of the work.
Generally, there are several appeals for funds. The seller will therefore be liable for calls for funds that will take place before the sale, and you will have to take charge of those that will take place after the sale.
2 – The wording of the purchase offer
You will have to make an offer to the seller, and if your offer to purchase is unconditionally accepted by him, the sale will be sealed.
As far as you are concerned, if your purchase is subject to certain suspensive conditions such as obtaining a bank loan, have these conditions included in the purchase offer because they will cover you.
3 – The signing of the sales agreement
Signing the sales agreement is the first decisive step in your buying process. By signing this compromise, the seller undertakes to sell his property to you and you undertake to buy it from him if all the conditions are met.
Indeed, if your purchase depends on a loan from the bank and the latter grants you a loan, you can no longer reconsider your decision to buy paris real estate.
4 – Town planning rules
If you want to carry out major renovation work in your future home, find out from the town hall what you are authorized to do or not. All municipalities do not impose the same rules in terms of work, because it also depends on the district where the accommodation is located.
Take the time to find out if you can obtain authorization from the town hall to carry out the work you want and add this condition precedent to the sales agreement.
5 – The conciliation clause
Some sales agreements have a conciliation clause, also called a mediation clause, which avoids a lawsuit if you find yourself in a conflictual situation with the seller. This clause requires you to attempt conciliation if a dispute arises. Thus, a solution would be negotiated under the mediation of a conciliator.
It is only if this attempt at conciliation failed that you could have recourse to the judicial institution.
6 – The security deposit to reserve your property
On the day of the signing of the sales agreement, you will be asked to pay a certain percentage of the purchase price which constitutes a security deposit. As its name suggests, this sum, which varies between 5 and 10% of the selling price, is used to guarantee the contract.
Note that you will only be able to recover this amount if you cancel the sale within 10 days from the day after the signing of the sales agreement, or if you establish proof that the sale cannot be made for reasons beyond your control.
Not chargeable (if for example, the bank has not granted you a loan). Otherwise, the seller will be entitled to retain the sum of the security deposit.
7 – Medical examinations for your borrower insurance
If you have applied for a loan from your bank, be aware that it will most certainly ask you to complete a health questionnaire which will determine the amount of your borrower insurance.
But some go further and require that you provide them with medical examinations, the results of which will condition their response. These medical examinations are essentially blood tests, but they can also be an electrocardiogram or other.
You cannot evade these examinations at the risk that your bank will refuse you, automatically, the loan.
8 – The action period
The sales agreement may provide that in the event of default on the part of one of the two parties, the other may take legal action to request the forced sale of the property. This period is one month from the refusal. Be careful, once this period of one month has passed, you will no longer be able to initiate proceedings.
9 – Contractual deadlines
Most of the time, the https://mlsworldwide.com/sale-france-ile-de-france-paris paris apartment for sale agreement imposes a certain number of deadlines that the buyer must respect within the framework of the sales process. You will have a defined period to apply for a loan from the bank, to file your building permit file in the event of work, etc.
Be vigilant, time passes quickly when you have to take such steps and if you do not respect these deadlines, you expose yourself to sanctions such as the cancellation of the sale, the loss of the security deposit, or even condemnation. Payment of the penalty clause.