Once your offer has formally been accepted by the owner, we will draft a memorandum reiterating the sale price and all the specific conditions of the agreement. We distribute it to all parties, as well as to the notaries (we are able to recommend efficient, competent notaries to advise you), together with all the legal and technical elements necessary for the signing of a preliminary contract.
At this stage, you need to have appointed a notary, whom we will put into contact with the seller's notary and who will together draft a preliminary contract (called a preliminary or provisional contract of sale).
Upon signature of the preliminary contract, you will have a seven-day time frame to retract your offer (if you're purchasing in your own name), and add any potential suspensive conditions, in particular relating to obtaining a mortgage loan. Beyond this time frame, backing out would cost you 10% of the sale price.
The delay between signing of the preliminary contract and the definitive sale is generally three months, but it may contractually be reduced to a few weeks or conversely extended to six months, or even more. This delay serves to fulfil suspensive conditions, particularly regarding town planning (pre-emption) and implementation of potential financing.
Junot guides you through the entire purchasing process: which represents almost a third of all the work conducted by its staff members, and which is often key in ensuring success and peace of mind for a property transaction.