Can we delay the final signing of our french house purchase?

PARTNER ARTICLE: READ THE FINE PRINT CAREFULLY AND UNDERSTAND THE DIFFERENCES BETWEEN CONTRACTS FIRST READER QUESTION: WE ARE BUYING A HOUSE BUT THE BANK IS TAKING TIME OVER OUR HOUSING

LOAN. CAN WE DELAY THE FINAL SIGNING? In almost all cases, the answer is yes. There is normally a delay (usually three months) between signing an intention to buy in France and the actual

sale. There are two types of first signings – the _promesse de vente_ and _compromis de vente_. The major difference is that with a _promesse de vente_ a buyer can withdraw after the

cooling-off period (losing their deposit in the process), but in the case of a _compromis de vente_, they are obliged to purchase. With both sorts of contracts, it is possible to put in

conditional clauses, the most common one being that the deal depends on the buyer getting the expected property loans. In both cases it is in everyone’s interest for the deal to go through,

so if you explain your situation to the buyer and notaire before the three months are up, the signing date can be extended. How this is done depends on the fine print. If the contract is

_extinctif_, an addition must be made by the notaire extending the time period. If it is _non-extinctif_, no addition is needed, as long as the other party does not insist you sign. What is

good for the buyer is also good for the seller. If they have unexpected problems moving out, they too can request a delay. RELATED ARTICLES HOW DO I FIND OUT THE ESTIMATED VALUE OF PROPERTY

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