What is a sale compromise?

A sale compromise is a contract signed between the buyer and seller of a property, in which both parties agree to conclude the sale under certain conditions. The conditions generally include the purchase price, payment terms, delivery deadlines, guarantees, and suspensive clauses. The sale compromise is usually followed by the signing of the deed of sale, which officially transfers ownership of the property from the former owner to the buyer.

How does the promise to sell differ from the sale compromise?

The promise to sell and the sale compromise are both contracts signed between the buyer and the seller of a property, but there are some key differences between the two. A promise to sell is a commitment by the seller to sell a property to a particular buyer, under certain conditions. It is a mutual commitment between the parties, but the contract is not yet final. It is often used when a buyer wishes to reserve a property before finalizing the purchase. A sale compromise is a stronger commitment on the part of both parties. It is a final contract, in which the buyer commits to buy the property and the seller commits to sell the property, under certain conditions. The sale compromise is usually followed by the signing of the deed of sale, which officially transfers ownership of the property from the former owner to the buyer. In short, the promise to sell is a reciprocal commitment, but not yet final, whereas the sale compromise is a final and binding commitment between the parties.

Is it necessary to go through a notary to sign a sale compromise ?

It is not compulsory to go through a notary to sign a sale compromise, but it is strongly recommended. Notaries have a thorough knowledge of real estate law and legal rules, and can help the parties draft and interpret the terms of the contract. They can also ensure that the terms are balanced and reasonable for both parties, and that they comply with applicable laws and regulations. In addition, notaries act as a trusted third party, ensuring that both parties have understood the terms and consequences of the contract and have given their free and informed consent. They can also ensure that the suspensive conditions mentioned in the sale compromise are respected and that all the necessary administrative and legal formalities are carried out before the deed of sale is signed. Finally, notaries are responsible for keeping the originals of the deeds and contracts, which can be used as evidence in the event of a later dispute.

What should a sale compromise contain?

A sale compromise must contain certain mandatory information to be valid. This information generally includes:

• Names and contact information of the parties: the sales compromise must include the names and contact information of the buyer and seller, as well as their status (individual, company, etc.).
• Information about the property: the preliminary sales agreement must describe precisely the property being sold, including its address, the characteristics of the property (number of rooms, living area, etc.) and the items included in the sale (furniture, equipment, etc.).
• The purchase price: the preliminary sales agreement must indicate the purchase price agreed upon by the parties, as well as the payment terms (cash, loan, etc.).
• Delivery deadlines: the preliminary sales agreement must set out the delivery deadlines, i.e. the dates from which the buyer can take possession of the property and the deadlines for signing the deed of sale.
• Guarantees and suspensive clauses: the preliminary sales agreement may include guarantees to protect the interests of the buyer or the seller, and suspensive clauses which are conditions that must be met for the sale to be effective.
• The obligations of the parties: the preliminary sales agreement must also define the obligations of each party, such as the work to be carried out before the keys are handed over, the administrative steps to be taken, the guarantee obligations, etc.

It is important to note that the information mentioned above is the basic information that must be present in any sales agreement, however other information may be included depending on the needs and circumstances of each sale. It is therefore advisable to consult a notary to verify that all the necessary information is present and that the contract complies with the law.