www.frenchpropertylaw.com General Agreement Terms of a "Promesse de Vente"
Vendeur	Seller
Acquéreur	Purchaser: Ensure that all personal details are correct: maiden names are used for married ladies.
Désignation – Property Description	Either a full description of the Property or details of the copropriété (co-ownership) units within a building. The Property will be given a unique land-registry (cadastral) reference For copropriété units, this will detail the corresponding 10000ths voting rights. The floor surface area is given in accordance with current legal requirements (Loi Carrez). If the Property is found to be over 5% less than the stated measurement, you may seek to recover a corresponding sum of the Purchase Price within a year from signing the final contract. Usually as the Property extends and includes, with all its permanent fixtures, without exception or reserve.
Jouissance Ownership and Possession	Date of entry into the Property, usually on completion and details of the any other occupier (rental).
Price	Clearly written in figures and words. Plus costs and various disbursements (pro-rata of property tax, rolling funds held by the manager of the building for emergency) on the day of completion. To benefit from insurance guarantees, payments should be made through the Notaire's accounts.
Indemnité d'Immobilisation - Deposit	5-10% deposit will be held in escrow. The amount will not produce any interest, unless specified, and will be deducted from the purchase price upon completion. The Deposit may be paid as a penalty if the Purchaser fails to complete for any reason other than the ones stipulated under conditions precedent. This penalty clause does not prevent any party from litigation.
Conditions Suspensives - Conditions precedent	Effectively the Conditions Precedent act as a check list to ensure everything is in order before signing the final Sale & Purchase Agreement. The Conditions Precedent normally include that: Title deeds and other planning documents do not reveal any easement or defect that may diminish the value or render the Property uninhabitable. The Property is free from significant issues emanating from planning regulations and any local authority pre-emption right has been purged. Land registry search does not show any mortgage that cannot be lifted from the purchase proceeds. If the Purchaser is seeking finance, the Purchaser must obtain the loan. This clause usually specifies the lending institute, minimum amount required, duration of agreement, interest rate. The Purchaser must also prove to the Vendor that he has applied for the Loan by copying his application to the Vendor within 15 days of the signature of the Promesse.
General conditions	Standard conditions include: The Property is purchased as it stands: the Vendor is not a professional seller and will not give any guarantee (e.g. hidden defects). The Vendor should declare that he has not created, nor knows of, other easements other than those specified before stating that the Property will be sold subject to any charge or any easement currently existing over it. Property taxes and charges will be the responsibility of the Purchaser from the day of completion. (Including pro-rata reimbursement of any Property tax paid by the Vendor). The Purchaser is to obtain Property insurance. Upon taking possession, the Purchaser undertakes to pay any normal expenditure.
Copropriété – Co-ownership provisions	The Purchaser undertakes to abide by any co-ownership rules and will be responsible for actions taken against the co-ownership.
Searches	The position in regards to Asbestos, Lead and Termites will be outlined. If searches are required they are to be instructed and the Purchaser should be satisfied with the results.
Property Damage	If any Property damage occurs after the signing of the Promesse de Vente that renders the Property uninhabitable, the Purchaser may either: •  withdraw from the Promesse and retrieve the deposit or; •  continue with the Purchase and claim any insurance indemnity
Vendor's obligation to keep the Property in good order	Vendor undertakes to keep the Property in good order. We advise that prior to completion, the Purchaser may inspect the Property.