Compromis De Vente

[MikeP]

Does anyone know if you can re-negotiate a price on a signed Compromis De Vente? Something tells me it's not the right thing to do, but I thought it's worth asking here.

Thanks

[Hells Bells]

I wouldn't have thought so. It is a binding contract unless you are unable to get a mortgage for the property. But I am not a French notaire.

[Nessie]

It is a binding contract unless you are unable to get a mortgage for the property

I might be wrong on this but this has to be writtern in as a clause when the contract is drawn up and the seller has the right to agree or not . you then are normally given X number of weeks to arrange the mortgage and the lawyer then has to write to you for you to provide writtern confirmation that the mortgage is in place . If the mortgage is not granted then you have to send the refusal letter tot he lawyer within this time period.

This is what happen on one of our purchases.

Would not think you would now be able to re negotiate the price, if have signed and then pull out then you will lose the 10% and the house goes back on the market

[Hells Bells]

Yes, to back out of the sale,the reason you are doing so needs to be written in the Compromis as a 'Clause Suspensive'

[pete]

mikep

you have 7 days of grace once both parties have signed and you have seen their signature, your notaire will want proof of delivery for this, once this time has passed you will loose approximatly 10%.

We foreward bought our euros at a good rate when it was predicted to fall over the following months, see your bank and you should be able to do something to at least take the rate now, good luck

pete

[mpprh]

mikep

you have 7 days of grace once both parties have signed and you have seen their signature, your notaire will want proof of delivery for this, once this time has passed you will loose approximatly 10%.

I'm not sure that is the case. The 10% (these days more often 5%) is just the deposit on the conclusion of the contract, and not a refundable get out clause.

The "compromis" is not an exchange of contracts - it is actually a draft "completion". The only escape routes are the cooling off period or the clauses suspensives. If you want to back out for any other reason, the vendor can, and will, take you to court to realise the contract.

Peter

[Jimbo]

pete wrote:

... you will loose approximatly 10%.

When we bought in France, I believed that a hefty compromis deposit was mandatory. However, we learned from our Notaire that, provided both parties agree, a deposit isn't necessary at all. There is a clear and present danger, when the property market has stalled and when that friendly and plausible couple make a stunning offer on your property, but ask if it's possible to reduce or defer the deposit until 'they've sold', that you could be tempted - and will probably regret your generosity when they disappear without a backward glance.

Jim