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Everything you always wanted to know about the right of withdrawal, but were afraid to ask

19 May 2023

Dear readers, we are delighted to welcome you to a special edition of our news item on the withdrawal period in a property transaction. In this edition, we will explain the details of this essential right for consumers. 
First of all, the main purpose of the right of withdrawal is to protect and prepare purchasers by giving them a period of reflection to confirm their commitment before the final deed of sale. We are well aware that buying a house is an important commitment.


When does the withdrawal period take effect? 

The withdrawal period runs from the day after the first notification by registered letter with acknowledgement of receipt. This service is made at the end of the promise of sale or the compromise, which is also known as the "pre-contract" of the final sale of the property.


How long does it last?
The withdrawal period lasts for 10 working days. For example, if the promise (or the compromis) is signed on Thursday 1 June, the withdrawal period starts to run the day after the signature, and the period should expire on Saturday 10 June. It will be postponed to the next "working" day after that, i.e. Monday 12 June, which is the last possible day for withdrawal. In order to formulate his decision to end the acquisition process, the purchaser must indicate this by sending a registered letter with acknowledgement of receipt to the seller.


A small legal note: the withdrawal period is governed by the Alur law of 24 March 2014, which aims to regulate the property market and control abusive practices by developing innovation and transparency. This law was adjusted in 2015 by the Macron law and simplified the withdrawal procedures that were initially provided for in the Alur law.


As everywhere, there is always an exception that confirms the rule: if the buyer is a real estate professional (SCI, SARL) or if the property was bought at auction, there is no withdrawal period.


We have gone over the issues of this withdrawal period together. If you did not dare to ask, now you know! I now invite you to consult the offers available in our real estate office. You can also register your alerts via your account by registering here www.decharry-immobilier.com. 


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