In the context of the acquisition of real estate under construction, a specific agreement, known as a Sale in the Future State of Completion (VEFA), binds the buyer to the developer. This contract commits the promoter to respect a timetable and defined technical specifications. Although VEFA is a commonly used method for purchasing new real estate, it is not without risks, including disputes relating to the cancellation of the project, delivery delays or poor workmanship. Therefore, it is imperative to consult a lawyer expert in construction law and in real estate law for informed guidance. Me ZAKINE is at your disposal to advise you on this matter.
When you consider the acquisition of a new property through a Sale in Future State of Completion (VEFA) contract, you enter into a contractual agreement with a real estate developer. This contract stipulates that the developer undertakes to deliver the property to you on a given date, in accordance with specified specifications. Although common, this method of acquiring real estate is not without risk. Disputes can arise, whether it involves the cancellation of the construction project, delivery delays or poor workmanship.
To navigate safely in the complex legal world of VEFA, it is imperative to surround yourself with an experienced lawyer in construction law and real estate law. Mr. ZAKINE, with multidisciplinary expertise and a presence in Paris, Lyon and Lille, offers you essential legal insight to secure your investment.
In the context of acquiring new real estate, the Sale in the Future State of Completion (VEFA) constitutes a common practice. This contract commits the developer to respect defined specifications and to deliver the property on a specific date. Due to the complexity and issues inherent in this type of purchase, it is strongly recommended to consult a lawyer in construction and real estate law such as Me ZAKINE.
Legal Definition of VEFA
The Civil Code, in its article 1601-3, defines the VEFA as a contract by which the purchaser immediately obtains the rights to the land and to the already existing buildings. Future work will be its property as it is carried out, in return for payment in installments.
Contractual Terms
The VEFA is supervised by several crucial steps :
- Reservation contract: It is initially signed by the buyer when reserving the property.
- Notarized deed of sale: It is signed at the start of the work.
This contract must specify the characteristics of the property (surface area, number of rooms, equipment, materials). It is also imperative to mention the delivery date, penalties in the event of delay, the price and payment terms, as well as the conditions for price revision.
Legal Precautions
Before committing to an off-plan purchase, a careful assessment of the legal advantages and disadvantages is necessary. VEFAs present risks of litigation and legal subtleties that are often more complex than a traditional real estate purchase.
Our services
Me ZAKINE intervenes in this area and offers complete legal assistance, from the analysis of reservation and sales contracts until the finalization of your real estate purchase. You will benefit from the expertise of a specialized lawyer at each stage of the process.
For rigorous and personalized legal support, do not hesitate to consult us.
Before Delivery of the Good
If the construction project is canceled, the purchaser having concluded a reservation contract is entitled to the return of his deposit. In the event of non-compliance with this obligation by the promoter, legal action may be taken. Furthermore, “deceptive reluctance” on the part of the developer, aimed at misleading the buyer, can motivate the cancellation of the contract.
Delivery Delays
A delay beyond the contractual deadlines may result in penalties payable by the promoter, applicable from the first day following a period of 30 days. However, exceptions may exist, particularly in the event of force majeure such as bad weather or a health crisis. It is therefore essential to consult the specific clauses of the contract.
Legal Advice and Assistance
Our team of lawyers specializing in construction and real estate law provides you with personalized legal advice. We carefully review the terms of your contract and the specific circumstances to determine the best course of action. Several recent case laws have, in fact, relieved developers of their responsibilities by invoking force majeure.
Receipt of the property
Upon receipt of the property, the buyer may identify defects or non-compliance with the sales contract. In such a case, he is legally entitled to refuse possession of the accommodation. A report detailing the irregularities must be drawn up and signed by both parties, and the balance of the sale price recorded.
The project owner then has one month to report any imperfection not mentioned in the initial report. These reservations must be sent to the promoter by registered letter with acknowledgment of receipt. The developer is then required to remedy the defects within one year, failing which legal action could be initiated for cancellation of the contract or reduction of the sale price.
It should be noted that the project owner is also protected by the manufacturer's ten-year guarantee, which covers serious defects affecting the solidity or purpose of the work. Recent case law also makes it possible to jointly activate the ten-year guarantee and the repair of apparent defects.
The guarantee of perfect completion
Implementation of the Guarantee of Perfect Completion: A Practical Guide for Project Owners
If you are the project owner, the guarantee of perfect completion is essential to you. This protection mechanism operates for one year following receipt of your property. This guide clarifies the terms and conditions for activating this guarantee and underlines the importance of the role of the real estate lawyer in this process.
Definition of the Perfect Completion Guarantee
This is a legal insurance, valid for one year from the end of the work, intended to correct the apparent defects or poor workmanship observed. The project manager is legally required to rectify these irregularities following your report.
Crucial Steps
- Inventory and Minutes: Drafting a report, with or without reservation, is a critical step. It must be carried out jointly with the promoter.
- Reserve Period: You have one month to identify and report any defects or poor workmanship. THE defects accepted at this stage will no longer be covered by warranty.
Role of the Lawyer
Use a lawyer specialised in real estate law is highly recommended. Not only does it increase your leverage in any potential litigation against your developer, but a lawyer is also necessary to take legal action.
Prerequisites for Legal Action
If the reservations are not lifted, the case may be brought before the Judicial Court. Legal representation is then required to assert your rights and obtain compensation for any damage suffered.
Conclusion
The Law specifies that the project manager is solely responsible under the guarantee of perfect completion for one year. It is therefore crucial to surround yourself with an expert in real estate law to optimize the defense of your interests. Apart from this guarantee, others also exist, such as the ten-year guarantee or the guarantee of good functioning.
Why choose Me ZAKINE?
Our lawyers in construction and real estate law in Paris, Lyon and Lille proactively support you in defending your interests. Whether for applying late payment penalties, obtaining damages or suspending your property loan, we deploy all the necessary resources to ensure your legal protection.
Contact us today for comprehensive legal assistance in VEFA-related litigation.
