What is a forward sale?

Sale
General

A forward sale is a form of sale that takes effect at the end of the term defined between the seller, the buyer and the notary. It allows the different parties to have more time to organize a move or to end a lease for example.

How does a forward sale work?

 

The parties have a draft deed drawn up by a notary as in a direct sale. As soon as an agreement is reached between the parties on the deed, they go to the notary to sign the final deed.

 

During this meeting, the buyer must pay a deposit. Its value is defined in the deed and generally represents 10% of the sale price.

 

On the day of the term, the buyer proceeds to the payment of the remaining amount due. The transfer of ownership via the registration in the land register is also carried out on the same day, as is the handing over of the keys.

 

It is only at this moment that the buyer becomes the new owner of the property.

By Charline Demange, July 21, 2022

Additional definitions

  • Sale
    General
    Direct sale

    A direct sale is the simplest and fastest way to sell. It is possible when the buyer and the seller agree on an immediate sale date.

    Read more
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