Buying real estate: make a request for a deferred enjoyment
When buying or selling real estate, some situations may seem annoying, but luckily there are various solutions to them. If you sell your property and for one reason or another you want to stay and live there for a few more weeks or months, you can request a deferred enjoyment. What is it about? Here is a variety of information.
The delay in enjoyment explained
In real estate, we speak of deferred enjoyment or deferred/anticipated enjoyment when the seller of a property asks to receive the money from the sale after signing the authentic act, but before leaving the property. The seller can then continue to occupy the premises for three months, for example, but it can be less or more. In what situations can a seller make this request? If, for example, he bought an apartment or a house with works financed by the sale of his current property. Not only does he need the money from the sale to pay for the work, but he must also stay in his old property until it is completed. It may also be a seller who has purchased a property whose construction has not yet been completed and who does not want to rent an apartment or house while waiting for the delivery of his future home. Deferred enjoyment is not governed by law, it is a simple agreement between the two parties. The buyer may choose to set flexible conditions, but it is still advisable to be cautious.
Delayed enjoyment: our various tips
If you wish to request deferred/early enjoyment, we recommend that you first draft a loan agreement including various essential elements such as: the date of final release of the property, an agreement on the compensation for the occupation of the premises (or the absence of compensation), the establishment of a daily penalty payment sufficiently dissuasive to avoid delays (300 euros per day, for example), but also that of a receivership on the selling price (in order to guarantee the departure of the seller). A clause on the absence of transformation of the property is also recommended. It is also ideal to combine the entry into use and the transfer of risks (water damage, fire, etc.). Thus, in the event of a problem, it is the former owner who is responsible and not the new owner who is not yet occupying the premises. Contact your insurance company to find out more about this. If the purchaser refuses your request for a deferred enjoyment, which is entirely his right, you must leave the premises before arrival or ask him to postpone the date of signing the authentic instrument.
The delay in enjoyment in practice
When a seller and a buyer agree on the establishment of a deferred enjoyment — sometimes called deferred/anticipated enjoyment —, the notary indicates in the authentic instrument the date on which the seller will leave the property. As for the sum sequestered, it may be equal to 10,000 euros, for example, but it may be more in some cases. Be careful, however, nothing obliges the seller to accept that part of the sum be sequestered, especially if he needs all of the money from the sale to finance the work on his new property. When the delay of enjoyment expires, the seller must give the keys to the buyer who informs the notary, ideally by registered letter with acknowledgement of receipt, as this constitutes proof of the sending of the letter and of the good reception of it.
