The sales agreement (compromis de vente) is not a mere intention to buy. Under Belgian law, the compromis counts as a sale: as soon as both parties have signed and agreed on the property and the price, the sale is legally formed. The authentic deed that follows merely records it and makes it enforceable against third parties. Signing a compromis therefore commits you as much as a deed - it is the most important document of the whole transaction.
What signing triggers
Upon signing, the buyer is bound to buy and the seller to sell, at the agreed price. Backing out without a reason provided in the contract exposes you to owing damages - often quantified in advance in the form of a clause. This is why everything that matters must appear in the compromis, not in informal exchanges.
The suspensive conditions, your only safety net
A suspensive condition makes the sale depend on the occurrence of an event. The most common is obtaining the mortgage: if the bank refuses, within the specified conditions and deadline, the sale is cancelled without penalty and the deposit is returned.
These conditions are negotiated before signing. Once the compromis is signed, they can no longer be added. Points to nail down:
- the amount and the maximum rate of the mortgage to obtain, and the deadline to obtain it;
- any conditions linked to town planning, to the soil or to easements;
- what is included in the sale (fittings, furniture).
The deposit
A deposit is generally paid at signing, frequently around 10 % of the price. It is not handed directly to the seller: it is held, most often on the notary's account, and is credited against the price at the deed. If a suspensive condition applies, it is returned.
The delay until the deed
Between the compromis and the authentic deed, a few months generally pass - the time to gather the documents, clear any pre-emption rights and finalise the mortgage. It is at the deed that the registration duties and the fees are paid. This delay is also the one during which the buyer mobilises their own funds.
Have it reviewed before signing
Nothing obliges you to sign a compromis « on the corner of a table » on the day of the visit. You can have it reviewed by a notary before signing - it is free and it is the right moment to correct a clause. And because the price itself is set before the compromis, it is better to come to the negotiation knowing where the property sits in the market of its municipality: that is what tells you whether there is any margin left, and how much.