With the Preliminary Real Estate Purchase Agreement, a seller undertakes to sell a property to a buyer, who undertakes to purchase it by a certain date.
This is a preliminary contract with which ownership of the property is not actually transferred. The parties undertake to stipulate the definitive real estate sale contract by the notary (deed) under certain conditions. The commitment is binding and the parties must respect the agreed conditions and conclude the final contract. In the event that one party does not respect the agreements made, the other will be protected by the preliminary contract.
The parties then sign the preliminary contract to fix the conditions of the sale and to “block” the property. In particular, in addition to accurately identifying the property and any appurtenances (e.g. garage, cellar), the parties agree on the price, payment methods, any furnishings, etc. By signing the contract, the buyer can pay the seller a cash deposit as a further guarantee for the future sale.
When using the preliminary real estate sales contract
The real estate preliminary agreement can be used either by individuals or legal entities. Any type of property can be sold with any intended use: both residential and commercial. It is also possible to sell the furnished property and include any appliances such as garages or cellars. For example, it can be used to sell single apartments or villas furnished for residential purposes, but also for empty commercial warehouses equipped with garages and basements.
With the preliminary contract, sometimes also called a real estate sale compromise, it is not possible to commit to the sale of movable property (such as cars or machinery) but only for real estate. To regulate the transfer of ownership of movable property, it is necessary to draw up a contract for the purchase and sale of movable property.
It is possible to use the preliminary sale agreement even if the property is currently occupied by a tenant. The tenant will be able to vacate the property at the time of signing the final contract or continue to live in it under a lease contract or with a contact for free loan. In this case the tenant’s contract will be transferred from the old owner to the new one. The typical example is that of those who buy the property not to live in it personally but as an investment (to make it income) and take over as a lessor in the contract with the current tenant.
What is contained in the preliminary real estate sales contract model
Our preliminary real estate sale agreement meets all legal requirements. The main clauses included concern:
- Description of the property: cadastral data, preferably with a floor plan attached
- Relevance: to insert spaces connected to the main building (e.g. garage or cellar)
- Price: the indication of the price to be paid for the purchase of the property and the payment methods
- Deposit: to indicate whether the buyer has already paid or will pay the seller a deposit to confirm the seriousness of the proposal or to prevent the property from being sold to other bidders
- Deadline for the deed: to indicate the deadline within which to sign the final contract by the notary
- Management of current tenants: it is possible to sell the property free from people or occupied by a tenant, specifying the contract under which it lives (loan or lease)
- Mortgage granting: the sale of the property can be conditioned upon the actual granting of the mortgage
- Agency commissions: to indicate if the parties have come in contact through a real estate agent and if they have already paid the commission for this service
At the end of the interview, we will guide you step by step through all the necessary subsequent steps.
Information you need
To complete the document, all the data of the parties and the cadastral data of the property are required. If you do not know where to find this information we will help you during the guided interview and you can enter it later.
Remember that our interview does not generate a simple facsimile of a preliminary real estate sale. Based on your answers, the system automatically draws up a customized contract model for your exact needs, guaranteeing its legal correctness.
The document can be modified free of charge in all its parts without time limits. Don’t worry so if you don’t have all the information available during the interview, you can always enter it later.
- Preliminary real estate sale
- Preliminary for real estate purchase
- Preliminary home purchase
- Real estate sale compromise
- Real estate purchase compromise
- Preliminary contract of sale between private individuals
Other useful templates and facsimiles
- Residential Lease Agreement: to rent a house or apartment
- Commercial Lease Agreement (Non-residential use): to rent a property for uses other than residential (e.g. shop, office)
- Free Loan Agreement: to grant the property free of charge with the obligation to return it
- Rent to Buy contract (rent with redemption): to lease a property and offer the tenant the opportunity to buy it
- Contract for the sale and purchase of movable goods: to transfer the ownership of any movable property to a buyer