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Preparing your transaction

A well-prepared transaction is a successful transaction

For the seller, the transaction represents the separation of an often significant part of his assets, and therefore of his capital. A well-executed sale must be free of disputes and must be well prepared. As part of the sale of a property, the seller is required by law to provide a Technical Diagnostic File (DDT).

Below is a list of all the compulsory diagnostic tests for property transactions:

TECHNICAL AND ENVIRONMENTAL DIAGNOSTICS
  • Gaz
    • Property concerned: Residential building with an installation more than 15 years old
    • Item to be inspected: Condition of fixtures and pipework
    • Validity: 3 years.
    • Comment: In accordance with the provisions of article L 134-6 of the Code de la construction et de l’habitation, the sale of a property for residential use with an internal gas installation more than fifteen years old must be preceded by a diagnosis of this installation. The document must have been drawn up less than three years before the date of the deed.
  • Electricity
    • Property concerned: Residential building with an installation more than 15 years old
    • Component to be tested: Indoor installation: from control box to supply terminals
    • Validity: 3 years
    • Comments: When selling property used in whole or in part for residential purposes, an informative statement of the private internal electricity installation must be appended to the preliminary contract or, failing this, to the deed of sale, if the installation is more than fifteen years old.
  • Sanitation
    • Property concerned: Residential building not connected to the public sewerage system
    • Item to be checked: Control in force at 1 January 2013
    • Comment: The conditions for connection to the municipal sewerage system must be clearly defined.
  • Amiante
    • Property concerned: Building (planning permission granted before 1 July 1997)
    • Elements to be inspected: Interior vertical walls, plaster, floors, false ceilings, piping, etc.
    • Validity: Unlimited
    • Comment: The first paragraph of article 1334-13 of the French Public Health Code requires the vendor to draw up a report on the presence or absence of building materials or products containing asbestos, to be attached to the preliminary contract and to the sale.
  • Plomb
    • Property concerned: Residential building (planning permission granted before 1 January 1949)
    • Items to be checked: Paintwork
    • Validity: Unlimited or one year if positive
  • Termites
    • Property concerned : Building located in a zone defined by the prefect
    • Elements to be checked: Built or unbuilt property
    • Validity: 6 months
    • Comment: As soon as a property is located in an area designated by prefectoral decree as being contaminated or likely to be contaminated by termites, a preliminary report must be drawn up.
  • Energy performance
    • Property concerned: Building with a heating system
    • Factors to be monitored: Consumption and emission of greenhouse gases
    • Validity: 10 years
    • Comment: An energy performance diagnosis must be drawn up in accordance with the provisions of articles L 134-1 et seq. of the French Construction and Housing Code.
  • Energy audit :
    • Property concerned: For the moment, this law applies to homes classified as “F” or “G” in the DPE.
    • Points to check: This compulsory audit will be carried out in addition to the DPE. Its purpose is to propose work to be carried out in order to improve the DPE rating.
    • Validity: The energy audit is valid for 5 years.
    • Comment: The energy audit proposes different renovation scenarios, in one or more stages, to significantly improve the energy and environmental performance of your home and make substantial energy savings.

ASSESSMENT OF NATURAL AND TECHNOLOGICAL RISKS GENERAL REGULATIONS

The provisions of article L 125-5 of the French Environment Code are set out below:

  1. Purchasers or tenants of property located in areas covered by a technological risk prevention plan or by a prescribed or approved foreseeable natural risk prevention plan, or in seismic zones defined by decree of the Conseil d’Etat, are informed by the vendor or lessor of the existence of the risks covered by this plan or decree. To this end, a statement of natural and technological risks is drawn up based on information provided by the prefect. If the property is put up for sale, the report is produced in accordance with the terms and conditions set out in articles L. 271-4 and L. 271-5 of the French Construction and Housing Code.
  2. The Prefect shall draw up a list of municipalities to which the provisions of I and II apply and, for each municipality concerned, a list of risks and documents to be taken into account.
  3. When a built property has suffered a loss for which compensation has been paid under article L. 125-2 or article L. 128-2 of the Insurance Code, the seller or lessor of the property must inform the purchaser or lessee in writing of any loss that occurred during the period in which he owned the property or of which he himself was informed under these provisions. In the event of the sale of the building, this information is mentioned in the deed of sale.
  4. In the event of non-compliance with the provisions of this article, the purchaser or lessee may rescind the contract or apply to the court for a reduction in the price.
COMBATING LEAD POISONING

Any property built before 1 January 1949 and used for residential purposes falls within the scope of article L 1334-6 of the French Public Health Code.

WOOD-EATING INSECTS

Tendrils, beetles and longhorn beetles are all insects that can damage wood and timber. For older buildings, a survey prior to purchase is recommended.

For further information or clarification, the consultants of Vinea Transaction are at your disposal: info@vineatransaction.com

TRANSACTION GLOSSARY

A very useful glossary for all salespeople: click here

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