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I am considering buying a property through an SCI, but I have not yet created it, how do I do it?
Buy without having an SCI
Are you wondering about buying in SCI ? You can sign the compromise today while the SCI is not yet fully constituted so that during the notarial deed, it is the SCI that is engaged.
Two solutions can be implemented:
1/ In the compromise, it is possible to include a substitution clause for the benefit of the SCI that you will constitute. If you decide to buy in SCI, it will be necessary to notify, generally to the writer of the compromise, your desire to replace the SCI, within the period that will have been allotted to you. The draftsman of the deed, real estate agent or notary, will then carry out the necessary due diligence.
Attention: the SCI will only benefit from the 10-day withdrawal period if it is considered a non-professional. If the SCI exercises its right of withdrawal, you will remain obliged to purchase the property, on a personal basis, under the conditions set out in the compromise.
2/ It is also possible to provide in the compromise for the purchase in the name and on behalf of the SCI being set up. In the event that you constitute the SCI, it must take over the sale on its own account and its manager will sign the authentic deed.
On the other hand, if you do not set up the SCI, you will be required to purchase the property on a personal basis under the conditions provided for in the compromise.
Two solutions can be implemented:
1/ In the compromise, it is possible to include a substitution clause for the benefit of the SCI that you will constitute. If you decide to buy in SCI, it will be necessary to notify, generally to the writer of the compromise, your desire to replace the SCI, within the period that will have been allotted to you. The draftsman of the deed, real estate agent or notary, will then carry out the necessary due diligence.
Attention: the SCI will only benefit from the 10-day withdrawal period if it is considered a non-professional. If the SCI exercises its right of withdrawal, you will remain obliged to purchase the property, on a personal basis, under the conditions set out in the compromise.
2/ It is also possible to provide in the compromise for the purchase in the name and on behalf of the SCI being set up. In the event that you constitute the SCI, it must take over the sale on its own account and its manager will sign the authentic deed.
On the other hand, if you do not set up the SCI, you will be required to purchase the property on a personal basis under the conditions provided for in the compromise.
Good to know
The SCI simplifies the management of your house or apartment, but it involves restrictive administrative procedures.
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