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
We look at the different types of property signings, and what flexibility they allow you with payment deadlines
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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.
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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.
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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.
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