Are you preoccupied by preoccupancy?
There are cases where a buyer wishes to occupy the premises before the date of signing of the act of sale. We strongly advice against this practice since there are major risks involved for the seller in granting such a right to the buyer. Here are a few examples of these risks:
  • The buyer could do some repair work or cause damage to the immovable, which would result in delaying the signing of the act of sale.

  • In case of disaster, if the buyer’s insurance is inadequate, this could prejudice the seller, who would have to rely on the sole solvency of the buyer to be compensated for damages caused to an immovable of which he still has ownership.

  • Should the sale not go through, the selling owner would have to start from scratch to put his immovable back on the market, likely with the added burden of the costs associated with his new property in addition to those related to the unsold property.

  • The selling owner could have trouble reclaiming possession of his immovable if the promising buyer refuses to sign the act of sale or to leave the premises, creating a major dispute.

Should the seller agree to preoccupancy in spite of this, the conditions should be agreed to in writing, at the time of the promise to purchase, before a notary who would verify the identity of the parties. The agent should also advise the selling owner to ask for a substantial deposit from the buyer to prove his good faith.