Glossary

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P

Preliminary sale contract

Preliminary contract signed between the property seller and the property acquirer. This preliminary sale contract commits the two parties and it is usual that the acquirer pays a deposit (usually between 5% and 10% of the sale price) when this deed is established.

Private deed

Deed contracted between people just by signing. In a property sale contract, it may be a preliminary sale contract , then turned into a notarised deed. A private deed is established by real estate agency.

Professional card

People carrying on property transactions or estate management (estate agent, estate manager) must hold a professional card. It is delivered by the prefect and is renewed yearly. It specifies type of activity: property transactions on buildings and business or estate management. A real estate agent lacking a professional card cannot practice his activity.

Property sale

Property transfer for real estate. The sale must be enacted by notarised deed to be authentic. In practice, the sale contract is preceded by a preliminary contract ( unilateral preliminary sale contract or compromise) usually established by a professional.

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