SRU, law № 2000-1208, adopted on 13.12.2000, concerns norms of urban planning, work of condominiums and protect potential buyers and tenants - one of the most notable reforms regulating real estate trade over the past decades.
SRU law provides the buyer with a seven-day cooling-off period.
Under the Law on Solidarity and Urban Renewal, after the signing of the sales contract the buyer has 7 days to think about the final conclusion of a transaction, regardless of the seller's status. Thus, at a legislative level the buyer is provided with time for thinking without financial obligations— your deposit will returned to you if it was already sent to the notaire (in case of professional seller )
If the seller is not a professional seller— no deposit is to be sent during the 7 days period.
Note that not all buyers can take advantage of the right to terminate the transaction during this period— for example buying a property through a SCI . We recommend you to consult your agent or your notaire about the property purchase form.
To use this right — you have to notify your real estate agents and the notaire if you consider retracting from the property purchase during this period.Go Back