Seller's withdrawal
Sale: Withdrawal of the seller
Legally, when the seller of a property indicates, in writing, the acceptance of an offer proposed by a buyer for his property, the seller is unable to go back once the writing is communicated to the buyer.
What does an offer to purchase define?
By an offer to purchase, a potential buyer communicates his willingness to commit to the purchase of the property for sale, by writing the document. It is imposed by the Civil Code that certain mandatory information appears while expressing the will of commitment of the prospective buyer in the event that the offer is accepted.
For more details go to the article with all the information to complete your offer.
-Offer to purchase
-Purchase price
-Type of property
-Period of validity of the offer
-Withdrawal period
-Means of financing
-Final value of the purchase
-Cancellation of the purchase
How long does it take for an offer to purchase?
It is important to assimilate the temporal nature of the offer, which may expire. As a result, it is possible to assign the seller a response time to the offer of 7 days for example. Once the term has expired, it is possible to consider the offer as null and void, by definition in the event that the seller subsequently accepts it, legally no legal consequences would occur.
It is therefore important to accept an offer that meets your expectations by expressing to the purchaser his legal will to commit and this, for all the conditions specified in advance. Only in writing, the acceptance must be signed.
In the event that the offer is accepted only on part of the conditions specified in the initial promise to purchase, this would have no action and would constitute a new offer. Indeed, by accepting only part of the clauses or mentions, it is the purchaser who becomes the initiator of a new offer awaiting acceptance by the potential buyer. This term is defined as a "counter-offer".
The obligation to sell after acceptance of offer
It is legally defined by law that the contract is formed by the meeting of an offer to purchase (including the conditions of the potential sale) and a validation of the latter (relating to all the conditions mentioned in the offer) by which the parties express their willingness to commit.
Article 1113 et seq. of the Civil Code lays down these obligations, in current terms the contract is created between potential purchaser and selling owner when all these conditions are fulfilled.
Subsequently, in the event of a wish for withdrawal on the part of the seller on his commitment, it is his responsibility, before the judges, and may result in a conviction with payment of damages for the injured party.
- By an offer to purchase, a potential buyer communicates his willingness to commit to the purchase of the property for sale, by writing the document.
-Offer to purchase
-Purchase price
-Type of property
-Period of validity of the offer
-Withdrawal period
-Means of financing
-Final value of the purchase
-Cancellation of the purchase
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to sell in Paris or its surroundings ?
Posted on 21/10/2021 by
Andy LECUYER
