The 5 Essential Points to Know VEFA in Bordeaux: ME ZAKINE, real estate lawyer in Bordeaux
What you need to know before embarking on an off-plan acquisition:
1. Distribution of Charges and Costs: You should carefully review the sales contract and ensure that all provisions comply with current legislation to know who will bear the costs and charges associated with construction.
2. Delivery Times: Delivery times can be a delicate subject in VEFA because delays can have significant financial consequences for the buyer, especially if they are a tenant and must continue to pay rent. or if he must store his furniture in a storage unit. Ensure the estimated delivery date and request the reasons and proof of delay from the promoter by registered mail with acknowledgment of receipt.
3. Guarantees and Insurance: In VEFA, the developer is required to provide various guarantees and insurance to protect the buyer in the event of hidden defects, poor workmanship or non-compliance. He must take out ten-year guaranteed insurance. He also guarantees the perfect completion of the property within 12 months of handing over the keys.
4. The Reservation Contract: Before signing the final sales contract, the buyer is often required to sign a reservation contract. This preliminary document establishes the basis of the transaction and may include binding elements. Have this contract examined by a lawyer who will give you advice on how you should behave throughout construction and during delivery of the property (for example, the issue of recording 5%).
5. The Possibility of Withdrawal: The VEFA buyer benefits from a legal withdrawal period which allows him to withdraw from the contract without penalties within 10 days from the day after receipt of the reservation contract by registered mail with acknowledgment of receipt.
In conclusion, the Sale in Future State of Completion in Bordeaux presents complex legal aspects which require rigor and precision. As an expert lawyer property law, I strongly recommend that potential buyers seek legal advice before committing to an VEFA transaction. Remember to protect yourself against any obstacle with sound advice from a lawyer expert in VEFA this is to anticipate difficulties and know how to respond to them if they arise.