Mistakes to avoid before signing a sales agreement
Rudolphe ABEN
The sales agreement: a decisive step
The sales agreement is the moment when everything finally comes together: a motivated buyer, an agreed price, and a deal in sight. However, this step, often seen as a mere formality, can hide many pitfalls. A mistake or oversight at this stage can delay, or even cancel, the sale — and lead to unexpected costs.
Here are the main mistakes to avoid before signing a sales agreement.
1. Signing without checking the suspensive conditions
Suspensive conditions protect both the seller and the buyer. They may include, for example, the possibility of cancelling the sale if the buyer’s financing is refused or if certain administrative steps are not completed.
A common mistake is to sign without carefully reviewing deadlines or defined criteria. A small omission can create serious problems: a loan not approved in time, a missing document, or a poorly worded clause.
Nextimmo advice: always make sure each suspensive condition is specific, dated, and clearly understood by both parties before signing.
2. Neglecting the documents required before signing
The seller must provide several key documents before signing the sales agreement:
- the title deed,
- the technical reports (asbestos, electricity, energy performance, etc.),
- the cadastral plan,
- the co-ownership documents, if applicable.
Forgetting or providing incomplete documentation can lead to delays or even cause the buyer to withdraw.
Nextimmo advice: prepare the entire sales file as soon as the property goes on the market to avoid last-minute complications.
3. Underestimating additional costs
Many sellers forget to include certain costs in their overall calculation: mortgage release fees, diagnostics, or potential penalties related to an ongoing loan. These costs can significantly reduce the net amount received from the sale.
Nextimmo advice: before signing, review all expenses with your real estate agent or notary. A clear estimate will help you avoid unpleasant surprises.
4. Failing to seek professional guidance
Signing a sales agreement without expert advice may seem harmless, especially when both parties are on good terms. Yet, a single poorly written clause or missing detail can have serious legal consequences.
An experienced real estate agent or notary will protect you, anticipate risks, and ensure the contract complies with legal requirements.
Nextimmo advice: never sign a sales agreement without consulting a qualified professional. It’s your best protection against costly mistakes.
5. Rushing to “lock in” the sale
Haste is rarely a good advisor. Some sellers, eager to conclude quickly, sign an agreement before checking the buyer’s seriousness or financial reliability. This rush can delay — or even cancel — the transaction.
Nextimmo advice: take time to validate each step. A well-prepared buyer and a solid file ensure a smooth and stress-free transaction.
In conclusion
The sales agreement is a crucial step in any real estate transaction. But before signing, it’s essential to understand its implications and avoid the most common mistakes.
At Nextimmo.lu, we guide each client step by step to ensure the signing of the sales agreement is a well-managed formality, not a source of stress.
Need advice before selling? Contact our team for a reliable valuation and personalized support.