All buyers have this individual right to reconsider the purchase. Depending on the instrument signed, this is either the cooling-off period or the reconsideration period.
The cooling-off period
If you signed a pre-sale agreement under private writing (not signed in front of the Notary), you have 7 days to withdraw from the contract without grounds (Article L271-1 of the Construction and Housing Code). The cooling-off period begins the day following receipt of the letter giving official notice of the contract. If the next day is a Saturday, a Sunday, or a legal holiday, the period is extended to the next business day. Three types of notification are possible:
- delivery by registered letter with acknowledgment of receipt
- delivery by bailiff
- delivery in person with receipt
Restitution of the indemnity for immobilisation must occur within 21 days following the day after the date of withdrawal.
The reconsideration period
When the pre-sale contract is signed in front of the Notary, the draft deed of sale is served by registered letter with acknowledgment of receipt to the future beneficiary. The latter has a seven-day reconsideration period which, despite the different formalities, offers the same guarantees as the cooling-off period. The buyer has 7-days to make his/her decision starting the day after the date he/she receives the deed. In case of withdrawal, he/she simply doesn’t sign the deed.
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