Specific Steps in buying property

The first step of the conveyancing process is the signature of a “Promesse Synallagmatique de Vente”. It is a preliminary contract by which both parties (the seller and the buyer) agree on the main conditions of the sale (property, price, delivery period…), and on the decision to respectively sell and buy the property.

This agreement is a legally binding contract which commits both parties into the purchase. A deposit equivalent to 10% of the sale price is expected upon signature of the preliminary contract. The present contract is conditional upon the authorisation of the Governor in order to purchase a property in Tunisia. In the event the authorisation is refused, the seller will be obliged to refund the purchaser his advanced payments less the administration cost for the necessary authorisation application. Completion of the final completion contract will take place after receiving authorisation from the Governor.

The “Acte de Vente” is the final completion contract signed by both parties. It will be drafted by a Tunisian Notaire or a Tunisian Lawyer. The purchaser will take possession of the apartment from the date of signing the “Acte de Vente” and will become the legal owner of the apartment from the registration of the transfer deed by the Notaire or the Tunisian Lawyer at the Tunisian Land Registry.

The purchase of off-plan properties is governed by strict laws, which protect the purchasers. The developers must offer a bank guarantee or an insurance to secure purchasers’ investments. Unfortunately some developers are ignoring them. So clearly, it is primordial to instruct a solicitor who can undertake all the necessary checks before you commit to the purchase of an off-plan property.

Latest Kobalt Law Tweet

Latest Kobalt Law Client Testimonials

English, French and Portuguese Re-mortgages

Thank you for completing complex mortgage repayments simultaneously in three countries. David and Stefano were excellent, remaining calm and efficient in trying circumstances. I was very satisfied with their service, and would not hesitate to use Kobalt Law again.  

Visit Testimonials Page