When a private individual signs a compromis or a promesse de vente for a property, in France the law grants them a period for reflection before their commitment becomes final. This cooling-off period for a property purchase, set at 10 calendar days, allows the buyer to reconsider their decision without having to justify it or pay any penalty. Governed by the SRU law and Article L271-1 of the Code de la construction et de l'habitation, this protective mechanism deserves to be well understood before committing to a purchase project.
In summary
- The cooling-off period is 10 calendar days (not working days) after the signing of the compromis or the promesse de vente.
- It only concerns the non-professional buyer and applies to both existing and new properties, including off-plan sales (VEFA).
- To withdraw, it is enough to send a registered letter with acknowledgement of receipt, without justification or fees.
- Once this period has passed, the commitment becomes final, subject to the conditions precedent set out in the contract (in particular, obtaining the loan).
The legal framework of the cooling-off period
The SRU law, a founding text protecting the buyer
The right of withdrawal in a property purchase originates from the law on Solidarité et au Renouvellement Urbains (SRU law) of 13 December 2000. This text introduced a mandatory reflection period for the benefit of private individuals purchasing a home, in order to protect them against a hasty commitment. Before this law, a signed compromis de vente immediately bound both parties, with no possibility for the buyer to go back on it.
Article L271-1 of the Code de la construction et de l'habitation
The precise legal basis for this right is now set out in Article L271-1 of the Code de la construction et de l'habitation. This article provides that, for any deed concerning the sale of a residential building, the non-professional purchaser has a cooling-off period which they may exercise without having to give reasons for their decision. This text applies whether the sale is concluded under a private agreement or by a notarial deed directly at the notary's office.
Length of the period and starting point
Ten calendar days, not ten working days
The legal cooling-off period is 10 calendar days, which means that every day of the week is counted, including Saturdays, Sundays and public holidays. It should therefore not be confused with a period of 10 working days, which would be longer. If the last day of the period falls on a Saturday, a Sunday or a public holiday, it is postponed to the next working day, in accordance with the general rules for calculating deadlines.
When the period starts running
The starting point of the cooling-off period depends on how the deed is notified to the buyer. If the compromis or the promesse de vente is sent by registered letter with acknowledgement of receipt, the period starts running the day after the first presentation of this letter at the purchaser's home, and not on the day it is actually received or signed. Where the deed is handed over in person, for example during a meeting at the notary's office or the agency, the period starts the day after this handover, with a signed acknowledgement of receipt or discharge then serving as proof of the starting date.
Who is entitled to this right of withdrawal
This right benefits exclusively the non-professional purchaser, that is, a private individual buying residential property, whether to live in it or as a rental investment. On the other hand, a buyer acting within the scope of their professional activity, such as a property dealer or a société civile immobilière subject to corporation tax, is not covered by this protection. The seller, for their part, never has the possibility of withdrawing once the compromis has been signed: only the buyer has this right.
How to exercise your right of withdrawal
The procedure to follow
To withdraw, the buyer must notify their decision to the seller (or to their representative, notary or estate agent) by registered letter with acknowledgement of receipt, which constitutes the safest means of proving the date of dispatch and complying with the legal deadline. This formality may also be carried out electronically under certain conditions, provided that the professional involved in the sale has put in place a system compliant with legal requirements. It is advisable to keep a copy of this letter as well as the postal receipt, which will serve as proof in the event of a dispute.
No justification required, no penalty
One of the great advantages of this mechanism is that the buyer does not need to give any reason to withdraw: a change of plans, a doubt about financing or simply a personal change of heart are enough. No compensation or penalty may be claimed from them, and any sums paid as a security deposit must be fully returned to them within 21 days following the withdrawal.
What happens if the buyer does not withdraw?
If the buyer lets the 10-day period elapse without exercising their right of withdrawal, the sale becomes definitively binding on them, subject to the fulfilment of any conditions precedent provided for in the preliminary sale agreement. They will then no longer be able to go back on their decision without risking the loss of their security deposit or exposing themselves to an action for specific performance of the sale brought by the seller. This is why it is essential to make full use of this period to check every aspect of the project, in particular by consulting a local Capifrance estate agent who can support the buyer in this reflection.
The special case of buying off-plan (VEFA)
Buying off-plan, also known as sale in future state of completion (VEFA), benefits from the same protection mechanism as buying an existing property. The non-professional purchaser also has a withdrawal period of 10 calendar days starting from the day after the first presentation of the reservation contract or the deed of sale. The procedures for exercising this right remain identical: registered letter with acknowledgement of receipt, without justification or penalty. This point deserves particular attention because VEFA projects often involve long delivery times and staggered payments that need to be anticipated before the end of the cooling-off period.
Difference between the withdrawal period and conditions precedent
Two distinct legal mechanisms
The withdrawal period should not be confused with the conditions precedent set out in the preliminary sale agreement. The first is an automatic legal right, granted unconditionally to any non-professional purchaser, which may be exercised freely during the first 10 days following signature. The second are contractual clauses negotiated between the parties, such as obtaining a mortgage loan, the absence of an easement or the granting of a building permit, which make the completion of the sale conditional beyond the withdrawal period.
What happens after the 10 days
Once the withdrawal period has elapsed without having been exercised, the buyer remains committed, but the sale may still not go through if a condition precedent set out in the contract is not fulfilled, for example in the event of the bank refusing the loan. In this case, unlike withdrawal, the buyer generally has to provide proof of the refusal of financing in order to recover their security deposit, according to the terms set out in the preliminary sale agreement. These two steps are therefore complementary but follow different logics and conditions.
Practical advice during the withdrawal period
For the buyer
It is advisable to make use of these 10 days to finalise financing arrangements, compare loan offers and, if necessary, seek the opinion of a legal professional or an estate agent before the deadline expires. This is also the ideal time to carefully reread all the documents attached to the preliminary sale agreement, such as the technical diagnostic reports or the co-ownership regulations, in order to clear up any doubts about the property. Looking at our property listings for similar properties can also help confirm that the negotiated price is consistent with the local market.
For the seller
The seller, for their part, can only wait for the outcome of this period since they are already committed from the signing of the preliminary contract. It is advisable not to rush into organising a move or signing another commitment as long as the cooling-off period has not elapsed. Having a free property valuation carried out before putting the property up for sale also remains good practice for setting a consistent price and limiting the risks of renegotiation or withdrawal linked to a price perceived as too high.
Conclusion
The 10-calendar-day cooling-off period constitutes essential protection for any non-professional buyer engaged in a property purchase, whether in an existing property or off-plan (VEFA). Quite distinct from the conditions precedent that come into play afterwards, it offers a genuine reflection period, with no need for justification or penalty, to confirm or cancel the commitment. To secure every stage of a project, whether buying or selling, it always remains useful to rely on the expertise of a property professional who is well versed in the regulations in force.
FAQ
Does the cooling-off period apply to public holidays and weekends?
Yes, the 10-day period is calculated in calendar days, which includes Saturdays, Sundays and public holidays. The only exception: if the last day of the period falls on a non-working day, it is automatically postponed to the first following working day.
Can you withdraw after signing the deed of sale at the notary's office?
No, the right of withdrawal may only be exercised after the signing of the preliminary contract or the promise of sale, and not after the signing of the final deed of sale. Once the deed of sale has been signed, the sale is complete and irrevocable, except by amicable agreement between the parties.
Can the seller also withdraw during this period?
No, this right of withdrawal is reserved exclusively for the non-professional buyer. The seller is bound as soon as the preliminary sale contract is signed and has no equivalent legal right of withdrawal.
What happens to the security deposit in the event of withdrawal?
If the buyer exercises their right of withdrawal within the 10 days, the security deposit paid must be fully refunded to them, with no deduction or penalty. This refund must take place within a maximum period of 21 days following the date of withdrawal.
Is the cooling-off period different for an off-plan (VEFA) purchase?
No, the principle remains the same as for a conventional purchase of an existing property: the non-professional buyer benefits from a 10-calendar-day period starting from the day after the first presentation of the contract. Only the practical arrangements relating to the construction schedule and payment calls differ thereafter.
Is the help of a professional needed to exercise the right of withdrawal?
This is not a legal obligation, as the process can be carried out alone by simple registered letter with acknowledgement of receipt. However, in case of doubt about calculating the period or drafting the letter, it is advisable to seek the help of a legal or property professional to secure the process.
Author
Frédéric Rémy – Director of Sales Performance
A real estate professional with several years of experience within the Capifrance network, I would like to share essential advice with you to help you successfully complete your property project with our advisors.
