The Sale in the Future State of Completion or VEFA has been the subject of much criticism because, it is true that many people have been victims of this in the face of promoters who had abandoned their site, which did not exempt buyers from having to pay their monthly payments.
First of all, it is necessary to check the credibility of the promoter and to ensure that he has a Financial Completion Guarantee (GFA) in accordance with Article L.261-1 and following of the Construction and l'habitation (CCH) which obliges him to do so in order to guarantee the future owner that the financing of the completion of the property will be guaranteed in the event of default by the promoter.
So what is the Future State of Completion Sale really about? Follow the guide.
First of all, I would like to draw your attention to the distinction between properties that are already built and those that are off-plan. Indeed, even if both are new buildings, the house or apartment is in Vefa when at the time you sign the contract with the developer, construction has not yet started or is in progress. More precisely, despite the presentation of the plan, the future occupants of the premises will only have a precise idea of the finishes and the characteristics of the house, once the building is definitively completed.
And to avoid unpleasant surprises when you move into the premises, do not hesitate to do like me:to ensure that there is no faulty workmanship, no manufacturing defects or poor insulation, the final acceptance of the work was done with a professional. Otherwise, you can also use the ten-year guarantee which commits the developer to carry out work free of charge in the event of a defect in the solidity of the construction, for example.
It is not because you are buying a house off plan that you are going to skip the real estate loan simulator box, even if the financing of the construction of the property is done in installments. Indeed, it is very important to know your debt capacity in order to be able to put in place a good financing plan.
Moreover, the main interest of this type of real estate purchase is its mode of payment, since the future owners are not obliged to pay in one go for the apartment or the house. But opting for a purchase on plan also means benefiting from a tax exemption over a period of two years.
Finally, as I decided to rent the accommodation for a minimum period of nine years, I was simply able to claim a tax reduction of up to 18% of the total amount invested, with the law of Duflot tax exemption.
The Sale in the future state of completion takes place in three main stages. First there is the reservation contract that will be signed between the promoter and the future owner. Also called a preliminary contract, this private deed will mention the characteristics of the future construction, namely:the type of property, its location, its price or its delivery time.
The reservation contract must also be accompanied by a security deposit of 5% of the total budget of the real estate project for sales contracts signed in twelve months, otherwise 2% for those exceeding one year. Otherwise, the second step is the signing of the final deed of sale which must be done before a notary.
Finally, the last stage of a real estate acquisition on plan is the delivery of the property, which will be sealed by a delivery of a report of delivery from the promoter to the owner.
