In the context of a sale, many conditions are taken into account. Indeed, the sale made as it is is never exempted from the contract as a whole. There are many things the parties involved in a sale are committed to. And this is all the more valid whether in a real estate sale or other objects whose values differ.
But in any case, we can face a unilateral promise to sell. A commitment must be entered into between the parties by stipulating special conditions. But before entering into a unilateral promise to sell, it’s still a good idea to know what it is.
What is the unilateral promise of sale?
The unilateral promise of sale is a preliminary contract making it possible to lay the foundations for a real estate transaction. When selling a property, both the buyer and the seller agree on the details of the transaction.
We especially note the good in question and the agreed price if both parties accept it. We can then say that the latter enter into negotiations on the price and the conditions of sale. It is only after the unilateral promise to sell occurs.
The real estate transaction between individuals
We still believe that only professionals make transactions between themselves or with individuals in the field of real estate, which is entirely wrong. With an increased increase in supply and demand, so are individuals.
They then make transactions between themselves. Besides, it generates fewer costs by avoiding going through agencies. But even if transactions between individuals are done, there are always rules to follow.
And in the context of a real estate sale, there is always a two-step realization. First, we find the preliminary contract, which can be a sales agreement or a unilateral promise to sell. In this first step, an agreement is made between the two parties. Then comes the deed of sale in question.
In this second step, the agreement is made before the notary a few months after the pre-contract. It is only then that the property’s full price is paid, and the ownership changes hands.
In the case of the promise to sell, the buyer has a specific period to withdraw and no longer make the purchase. This period is ten days. During this period, he is required to pay a deposit, representing a certain percentage of the property’s value. If the buyer withdraws after ten days, the deposit is refunded in full by the seller without penalty within 21 days.
If no withdrawal has been made and one of the two parties refuses to sign during the deed of sale, the other party has the right to take the matter to court by requesting the contract’s signature or by asking damages.
The promisor undertakes to sell his property to the beneficiary within a certain period and at a determined price. In the contract, the beneficiary has a period during which he can only buy the property. At the end of this period, he can decide whether or not to exercise the purchase option.