An amount paid in advance by the purchaser to the developer, at the signing of the preliminary contract or before the signing of the deed of sale, which shall be deducted from the sale’s price.
The developer needs to make a large investment to build an immovable in co-ownership. Therefore, he will require a deposit at the signing of the preliminary contract. The deposit is your first payment to the vendor. The amount should be proportional to the purchase price of the apartment.
The preliminary contract is signed before the purchase of a new or to be built property. To be enforceable, a preliminary contract must, contain the designation of the parties, the identification of the targeted immovable and the price offered.