The payment of a deposit is subject to strict regulations. If you have signed a promise or a notarial sale agreement , the latter is entitled to ask you to pay a first sum (usually between 5 and 10% of the purchase price). On the other hand, if the pre-contract has been signed under private signature (between you and the seller), the Act prevents the seller from requiring any payment until the 7-day cooling-off period has expired (1).
(1): the period begins to run the day after receipt of the documents.
The suspensive condition for obtaining a loan
Whether you have paid a down payment or not, the Scrivener Law protects you if you use one (or more real estate loan (s) to finance the purchase of the property.) Each characteristic of the loan must be included in the compromise. to know :
- The nature of the loan (s) sought
- The duration
- The maximum rate that may be accepted by the borrower
- The amount
For the suspensive condition to be valid and you can recover your deposit from the notary, two conditions must be met:
- That you respect the deadlines imposed by the preliminary contract (deadline of filing of file and time of obtaining the preliminary offer of loan)
- That the characteristics of the loan (s) requested are in all respects in line with those specified in the compromise.
Good to know : the suspensive clause is a condition of fact, which means that it has a legal existence even if it did not appear in the compromise.
All about clauses
Attention to refusals of convenience
The law punishes those who resort to a refusal of convenience . Although it is difficult to prove that a loan refusal is motivated or not by valid reasons, know that in case of legal procedure, the bank will have to justify its decision. In the event of conviction of the borrower, the suspensive condition for obtaining a loan may then be deemed fulfilled. The deposit paid is then lost. In some cases (very rare), the seller can force the buyer to respect his contract and thus to buy the good.
What time to recover his deposit?
As soon as the bank has notified you of its refusal of loan, require that it issue you a written certificate and transmit this certificate to the notary and the seller, by registered letter with acknowledgment of receipt.
Remember to ask the bank that it specifies on the certificate the characteristics of the loan refused (amount, rate, duration). On the other hand, the reasons do not have to be disclosed and are part of banking secrecy.
The deposit paid to the notary has probably been placed in an escrow account. The Article L. 312-16 of the Code of precise consumption when the suspension clause could not be made, the deposit shall be refunded in full without charge, at the latest within fifteen days, under penalty of produce late interest on the basis of one and a half times the legal interest .