The different stages of a property sale

Selling a property is a complex process that requires careful preparation and knowledge of the various stages involved. Whether you're selling or buying, it's essential to understand these steps to ensure a smooth and secure transaction. Here's a detailed guide to the main stages of a property sale.

1. Property valuation

The first crucial step in selling a property is assessing its value. It is advisable to call on the services of a real estate expert or a real estate agency to obtain a precise estimate of the sale price. This evaluation takes into account various criteria such as location, surface area, general condition of the property, services and local market prices.

2. Putting the property up for sale

Once the selling price has been set, it's time to put the property on the market. This can be done in a variety of ways: via a real estate agency, online classified ads, or specialized platforms. It's important to write a detailed, attractive ad, including quality photos and a precise description of the property's features. It's worth noting that real estate agencies and specialized platforms are generally remunerated by a percentage of the sale price of your property.

3. Visits and negotiations

Once the property has been put up for sale, the visits can begin. Potential buyers come to view the property and ask questions. At this stage, it's essential to present the property at its best, making sure it's clean and tidy. The negotiations can also begin, with potential buyers making offers, often below the asking price. The seller must be ready to discuss and find common ground.

4. Signature of the sales agreement

Once agreement has been reached between seller and buyer, they sign a compromis de vente or promesse de vente. This document is binding on both parties, and sets out the terms of the sale: price, timeframe and any suspensive clauses. Suspensive clauses are conditions which, if not met, allow the sale to be abandoned without penalty, such as the buyer having to obtain a mortgage.

5. Reflection period and administrative procedures

Once the compromis de vente has been signed, there is a 10-day cooling-off period during which the buyer can withdraw from the transaction without reason or penalty. At the same time, the administrative and legal formalities begin. The buyer must, for example, obtain a mortgage, while the notary prepares the documents needed to sign the final deed of sale.

6. Signature of the deed of sale

The final step is to sign the deed of sale at the notary's office. This formalizes the sale and transfers ownership of the property to the buyer. The notary ensures that all conditions have been met and that funds are available. At this point, the buyer pays the price of the property and the notary's fees, while the seller hands over the keys and receives the proceeds of the sale, less any other costs.

7. Handover of keys and departure formalities

Once the deed of sale has been signed, the handover of the keys marks the final transfer of the property. The seller must ensure that all departure formalities have been completed, such as cancelling all water, gas and electricity contracts, and updating all property tax details.

Conclusion

Selling a property is a multi-stage process that requires meticulous preparation and attention to detail. From appraising the property to signing the deed of sale, each phase is essential to ensure a successful and secure transaction. Calling on the services of professionals, such as real estate agents and notaries, can greatly facilitate this process and provide the peace of mind required for one of life's most important transactions.