Off-plan purchase: completion guarantee and staggered payments

In a sale in a future state of completion (VEFA), you are buying a property to be built or under construction. Service-public.gouv.fr describes four key features: an optional but highly recommended reservation contract, a sales agreement whose draft is notified to you at least one month before signing, a financial guarantee of completion or reimbursement, and staggered payments: 35 % at the foundations, 70 % at the watertight stage, 95 % at completion, then the remaining 5 % at delivery.

This page does not cover the guarantee of completion, retention of guarantee, price revision, time limits for action regarding apparent defects, or the details of cases for the return of the deposit. It does not reproduce the text of the articles of the building and housing code: please check the text.

The steps involved in buying off-plan

Source: record F39743, verified on 18/09/2026.

The reservation contract

It allows you to reserve the property before the final deed is signed. Here's what fact sheets F39743 and F2963 say:

• The shape. The contract must be in writing; no specific form is required by law. It can be a private agreement or a notarized document.
• The moment of handover. The contract must be sent by registered letter with acknowledgment of receipt or delivered in person to the buyer, "before any deposit of funds".
• The mentions. It specifies in particular the provisional price and its revision conditions, the planned date of the deed of sale, the method of financing, the suspensive condition of loan, the amount and conditions of return of the deposit, information on the right of withdrawal and the choice of the guarantee of completion (financial guarantee of reimbursement or financial guarantee of completion).

The reservation deposit is capped. According to F2963: 5% of the price is due if the final deed of sale is signed within one year, and 2% if it is signed between one and two years. Beyond two years, no deposit can be required. The deposit is paid into a special bank account opened in the buyer's name, or into a notary's office. In the specified cases, it is refunded without deduction or penalty "within 3 months of the refund request." The detailed list of these cases is not included here; please refer to the information sheet and your contract.

The right of withdrawal. Form F2963 stipulates a 10-day cooling-off period starting the day after the first presentation of the registered letter with acknowledgment of receipt. The withdrawal must be made by registered letter with acknowledgment of receipt, without penalty.

The deed of sale

The developer must notify the buyer of the draft sales agreement at least one month before the signing date (F2961). If the sale is concluded directly by notarial deed, without a reservation contract, the buyer has a 10-calendar-day cooling-off period.

The contract must include, in particular, a description of the property, the price and payment terms, the delivery date, proof of financial guarantee, the cancellation conditions, any late payment penalties, and any termination or suspensive clauses. Form F2961 does not specify a penalty amount.

The two guarantees

According to F39743, these guarantees are provided by a bank, a financial institution, an insurance company or a mutual guarantee society:

«"The guarantee ends when the building is completed." The deed of sale includes proof of the financial guarantee retained (F2961).

Installment payment: 35 %, 70 %, 95 %, 5 %

Service-public.gouv.fr (F39743) gives the following schedule, as a percentage of the price.

«"Requests for funds must correspond to the actual progress of the work." Articles R261-11 to R261-16 of the French Building and Housing Code are cited in the document. Their text is not reproduced here: please check the original document.

Delivery and balance of 5 %

The handover report is signed jointly by the developer and the buyer. It may include reservations, such as apparent defects or finishing work that needs to be completed. The seller summons the buyer by registered letter with acknowledgment of receipt.

The balance, "corresponding to 5 % of the total price," becomes due upon delivery. In case of reservations, the buyer may deposit this balance; if no agreement is reached on the location, the deposit is made with the Caisse des Dépôts et Consignations (F2956, verified on 09/18/2026). Service-public.gouv.fr refers to an online procedure of the Caisse des Dépôts for depositing the balance (R65949, verified on 06/06/2025).

Acquisition costs for new builds

According to economie.gouv.fr, the land registration tax is reduced for new properties or those purchased off-plan (VEFA). Impots.gouv.fr (updated 07/01/2026) states that a building is considered new when it is less than 5 years old and, for purchases from professionals, indicates reduced transfer taxes of 0.71%, a property security contribution of 0.1%, and VAT of 20% in most cases. The page on notary fees details the components.

VEFA: numerical example (fictitious profile)

Situation. A couple buys an apartment off-plan for €280,000 intended as their primary residence. Assumptions: the deed of sale is scheduled in less than a year, and the payment requests follow the schedule on service-public.gouv.fr.

Issue. What amounts are requested, at what stages, and what reservation deposit limit applies?

Strategy. The couple applies the 5 % ceiling to the reservation deposit, then the payment schedule of 35 %, 70 %, 95 % and 5 %. They verify that the calls for funds follow the actual progress of the work.

Result.

Before delivery, €266,000 is due (95 %). The remaining balance of €14,000 is due upon delivery and can be held in escrow in case of any issues. If the deed of sale were signed between one and two years after the reservation, the maximum deposit would be 2 %, or €5,600. This calculation adds up the installments of the payment schedule; it does not include the allocation of the reservation deposit to subsequent payment requests. The profile is fictitious. The figures illustrate the calculation and do not necessarily reflect your specific situation.

Off-plan purchase: what changes depending on your situation

• The scheduled date of the deed of sale, which sets the deposit ceiling (5 % or 2 %).
• The choice of completion guarantee or refund mentioned in the contract.
• The actual construction schedule, which governs the calls for funds.
• Your financing, in particular the loan contingency clause of the reservation contract.
• The presence of reservations upon delivery.
• Your personal situation: for a non-resident or a purchase by a company, the rule depends on your situation, to be checked before deciding.

No results are promised.