A FEW EXPLANATIONS CONCERNING THE PRELIMINARY CONTRACT
PRELIMINARY CONTRACT : first contract by which both parties, buyer and seller, indicate their agreement on the conditions of sale while awaiting the statement of suspensive conditions.
FORMAL DEED OF SALE: is the name for a written text and from a public official (notary, sollicitor for example) whose statements are evidence and truthful and who has sole executory authority.
SUSPENSIVE CONDITION : Future, uncertain event which suspends the signing of the contract
RIGHT OF PREEMPTION: legal right granted to certain individuals (tenant farmer, joint owner ....) or a public entity (local authorities, Safer ....) to acquire property in priority to any other person unless the owner manifests its willingness to sell
IMMOBILISATION DEPOSIT : sum of money stipulated in the contract, intended to compensate the seller for immobilising the sale of his property during the promise of sale in the case of a failed transaction provoked by the buyer
We are authorized to carry out the preliminary contract and can equally receive the garantee payment to the order of the sollicitor.
Once the SRU LAW delay has been respected, we send your dossier to the sollicitor and follow its progress up to the formal deed of sale.
We advise you however to seek legal advice from your sollicitor.