Home > Expert advice > Fact sheets > I am interested in a property, but I do not yet have the funds to buy it, I should have them in a short time. How to put an option on this property?
I am interested in a property, but I do not yet have the funds to buy it, I should have them in a short time. How to put an option on this property?
Option on a property
If the seller accepts it, it is possible to set up a unilateral promise of sale, between the owner of the property and yourself, who will therefore be the beneficiary of the promise of sale.
The unilateral promise of sale specifies the conditions of sale:
• the property sold and its price,
• the period during which the beneficiary of the promise can tell if he is buying the property,
• the immobilization indemnity paid by the beneficiary to the seller. It may not exceed 10 % of the selling price,
• the commission of the real estate agent, if the sale is carried out,
• the special conditions of the sale...
The unilateral promise of sale is signed by the seller and the beneficiary. The seller undertakes to sell the property to the beneficiary. The beneficiary has a period of time to say whether or not he is buying the property.
• If he does not buy the property, he regains his freedom, and so does the seller. However, since the seller has tied up his property for him for a certain period of time, he retains the immobilization indemnity as compensation.
• If he buys the property, the immobilization indemnity becomes a deposit : it constitutes a part of the sale price.
Attention : the unilateral promise of sale must be registered, within 10 days of its signature, with the tax revenue of the place where the property is located. If it is not recorded, it is null and void, and cannot produce any effect.
The unilateral promise of sale specifies the conditions of sale:
• the property sold and its price,
• the period during which the beneficiary of the promise can tell if he is buying the property,
• the immobilization indemnity paid by the beneficiary to the seller. It may not exceed 10 % of the selling price,
• the commission of the real estate agent, if the sale is carried out,
• the special conditions of the sale...
The unilateral promise of sale is signed by the seller and the beneficiary. The seller undertakes to sell the property to the beneficiary. The beneficiary has a period of time to say whether or not he is buying the property.
• If he does not buy the property, he regains his freedom, and so does the seller. However, since the seller has tied up his property for him for a certain period of time, he retains the immobilization indemnity as compensation.
• If he buys the property, the immobilization indemnity becomes a deposit : it constitutes a part of the sale price.
Attention : the unilateral promise of sale must be registered, within 10 days of its signature, with the tax revenue of the place where the property is located. If it is not recorded, it is null and void, and cannot produce any effect.
Good to know
The contract must describe the surface of the property, the number of rooms, their distribution within the dwelling, the presence or absence of outbuildings and indicate the standards that the developer undertakes to respect.
Other fact sheets
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