Deed of sale of a dwelling in the future state of completion (Vefa)

Verified 14 September 2023 - Directorate for Legal and Administrative Information (Prime Minister)

You are about to buy a house and the seller offers to sign a bill of sale in the future state of completion (Vefa).

What is a sale in Vefa? What is the content of the bill of sale? Do you have a period of time to withdraw after the signature of the bill of sale?

We're doing an update on the regulations.

The sale in the future state of completion (Vefa) is a contract by which you acquire real estate to be built or under construction.

You become an owner of the soil to the signature of the contract sales, then owner of good as it becomes building.

The seller agrees to deliver the accommodation as soon as the construction work is completed.

This property can be a detached house or a apartment.

The seller (promoter) is the developer. He or she must:

  • Choosing architects, contractors and other technicians
  • Establish the conventions with selected professionals
  • Make the reception of the work carried out

As soon as all the conditions for the sale of the dwelling to be built are met, the contract of sale is signed before a notary.

It may be preceded by the signature of a reservation contract (or preliminary contract).

FYI  

The promoter must notify the buyer of the draft contract of sale at least one month before the date of signature of that contract.

The information contained in the bill of sale of a Vefa differs according to whether it is a house or an apartment.

Flat

The contract of a Vefa must necessarily be concluded in the form genuine.

It shall specify the following:

  • Detailed description of the accommodation (surface, equipment and annexes)
  • Prices, means of payment and any revision rules
  • Delivery time
  • Entitlement of financial guarantee for reimbursement (GFR) or financial guarantee for completion of works (GFA)

FYI  

It must be specified whether the price is revisable. The revision is then calculated as a function of the variation in the index BT01. This index assesses cost developments in the construction sector.

House

The contract of a Vefa must necessarily be concluded in the form genuine.

It shall specify the following:

  • Detailed description of the accommodation, its equipment and its annexes
  • Prices, means of payment and any revision rules
  • Delivery time
  • Entitlement of financial guarantee for reimbursement (GFR) or financial guarantee for completion of works (GFA)
  • Description of the work that the buyer has decided to do when the sale is preceded by a preliminary contract (for example: work on the finishing of the interior walls, the lining or installation of heating or sanitary equipment, and the furniture that can accommodate them)

FYI  

It must be specified whether the price is revisable. The revision is then calculated as a function of the variation in the index BT01. This index assesses cost developments in the construction sector.

The following documents must also be annexed to the contract of sale:

  • Co-ownership Regulation if the dwelling is located in a condominium
  • Side plan and notice indicating the specific equipment of the dwelling
  • Information on the consistency and technical characteristics of the building
  • Conditions for exercising the right of reflection
  • Possible penalty for late payments which may not exceed 1% per month
  • Possible rescission clauses and suspensors

You have a reflection period of 10 calendar days to renege on your commitment to purchase the property. This time limit shall apply only when there was no reservation contract.

This period shall begin on the day following the firstre presentation of the letter RAR: titleContent notifier the act to the seller or his hand-delivery.

If the last day of the cooling-off period is a Saturday, a Sunday, a public holiday or unemployed person, the time limit shall be extended to 1er working day next.

You must notify the seller by letter RAR: titleContent, your renunciation of the purchase, before the expiry of the reflection period.

You must stagger the payment according to the progress of the work and according to the schedule provided by the sales contract.

The maximum amounts are as follows:

  • 35% of the total price when the foundations are completed
  • 70% of the total price when the dwelling is put out of water
  • 95% from the total price to completion of the building

In the absence of any reservation as to the conformity of the dwelling with the act of sale, the 5% the remainder shall be paid to the housing delivery.

If not, they can be paid as security to the Caisse des Dépôts et Consignations using an online service:

Record the balance of the sale price of a Vefa home

Who can help me?

Find who can answer your questions in your region

  • Notary
  • Departmental Agency for Housing Information (Adil)

  • Telephone administrative information - Allo Public Service

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