Preliminary sale agreement
A preliminary contract firmly binding seller and buyer on the property and price, subject to conditions precedent. It triggers the buyer's withdrawal period and starts the countdown to secure the loan. It is the concrete starting point of the financing timeline.
Key points
- Preliminary contract firmly binding seller and buyer on the property, price and terms.
- Triggers a ten-day withdrawal period for the non-professional buyer.
- Starts the mortgage condition precedent deadline, the broker's starting point.
- Can be signed as a private deed between parties or before a notary, with the same legal effect.
Frequently asked questions
What is the difference between a preliminary sale agreement and a unilateral promise of sale?
In a preliminary sale agreement, both parties are mutually committed: the buyer cannot withdraw after the cooling-off period without losing their deposit. In a unilateral promise, only the seller is bound for a set period; the buyer purchases an option and can walk away by forfeiting an immobilisation fee, generally lower. The preliminary agreement is the most common form in France.
Why must the broker receive the preliminary contract immediately after signing?
The preliminary contract contains all information needed to build the file: property description, price, loan amount sought, condition precedent deadline and signing date. Without this document, the broker works on incomplete data and risks misjudging urgency. Every day's delay reduces the margin for bank processing.
What happens if the buyer withdraws within 10 days of signing the preliminary contract?
Withdrawal within this period is an absolute right of the buyer; it incurs no penalty and the deposit must be fully returned within twenty-one days. After this period, any withdrawal outside a failed condition precedent exposes the buyer to loss of deposit or damages.
In practice
A preliminary contract is signed on 3 March with a 50-day condition precedent. The broker has until 22 April to obtain a formalised bank agreement. Files must be submitted to banks within the first week to allow time for processing, the ten-day cooling-off period and deed signing.
Official sources
- Sale agreement and loan condition precedent · Service-Public.gouv.fr
- Obtaining a mortgage loan · Service-Public.gouv.fr
- Mortgage credit (official guide) · Service-Public.gouv.fr