Mortgage basics
How long between the preliminary sale agreement and the keys? The actual timeline, and where to save time
From sale agreement to keys, step by step: the legal deadlines that cannot be cut, those that can, and six levers to keep the timeline short.
Between the preliminary sale agreement and the keys, a few months elapse in practice in an ordinary case, and this is not a legal duration. Only the withdrawal period, the minimum duration of the mortgage condition precedent, and the reflection period on the loan offer are fixed by law. The rest, from the submission of the file to the release of funds, is merely observed: it is shortened with a file prepared before the signature.
By Sandy MASCART, mandataire d'intermédiaire en opérations de banque et en services de paiement ORIAS 26000541 sous le mandat de CDV PATRIMOINE & ASSURANCE (ORIAS 14005573)
Key points
- Between the preliminary sale agreement and the deed of sale, only the withdrawal period and the reflection period on the loan offer are legal deadlines that cannot be shortened.
- The condition precedent to obtaining the mortgage cannot be stipulated below the legal floor, which is shorter than what a real banking arrangement requires.
- An agreement in principle does not bring the date of the keys forward by a single day: it does not start any deadline and never replaces the issued loan offer.
- The bulk of the timeline is determined in the unregulated steps: preparation of the file, bank assessment, issuance of the offer, release of funds.
- A complete file submitted before the signature of the preliminary sale agreement remains the most effective lever to maintain a short timeline.
Between the preliminary sale agreement and the keys, allow for three to four months in an ordinary case. The statutory deadlines do not change; the others are shortened with a ready file. This is one of the basic rules of home lending.
How long between the preliminary sale agreement and the deed of sale?
First, a cooling-off period, then a loan suspensive condition of a minimum statutory duration. The rest (structuring, agreement, offer) is not governed by any text.
Il court à compter du lendemain de la première présentation de la notification du compromis. Il est d'ordre public : aucune clause ne peut le réduire.
- En vigueur depuis le
- Source
- Article L. 271-1 du code de la construction et de l’habitation — Légifrance
The timeline: the fixed points and the margins
| Step | Duration | Nature of the deadline |
|---|---|---|
| Preliminary sale agreement, then notification | Immediate to a few days | Observed |
| Buyer's cooling-off period | 10 jours () | Statutory |
| Funding file submitted | One to three weeks | Observed |
| Suspensive condition, minimum duration | 1 mois () | Statutory |
| Assessment and agreement in principle | Two to four weeks | Observed |
| Issuance and dispatch of the offer | A few days to two weeks | Observed |
| Reflection period on the offer |
|
Statutory |
| Offer accepted, transmitted to the notary | A few days | Observed |
| Request for funds and release | One to two weeks | Observed |
| Deed of sale and keys | The same day | Observed |
Three statutory lines, seven observed: the gap between three and five months is played out in the seven.
Suspensive condition: aim above the minimum
It cannot be shorter than the statutory minimum. Fifteen days is contrary to the law: have it corrected before signing.
C'est un plancher, pas une durée usuelle. La pratique retient couramment quarante-cinq à soixante jours, ce qui n'est pas un texte mais une négociation.
- En vigueur depuis le
- Source
- Article L. 313-41 du code de la consommation — Légifrance
- Negotiate the deadline at the time of signing: afterwards, it is an amendment that the seller may refuse.
- Describe the loan sought: amount, term, maximum interest rate (how to draft it, loan refused after the preliminary sale agreement).
From the deposit to the offer: where time is lost
The lender processes the application, grants an agreement in principle, obtains the approval of the insurer and the guarantee provider, and then issues the loan offer. Nothing is regulated: everything depends on your file.
What lengthens it:
- a missing document (the documents to provide);
- the insurer's medical service, which no reminder can expedite;
- a referral to a committee, outside the standard grid;
- the guarantee provider, which gives its opinion after the lender;
- summer and year-end holidays.
The agreement in principle is not a loan offer: continue to follow up.
The cooling-off period: cannot be shortened
You cannot accept the loan offer before its term expires, and the loan offer must be maintained for a minimum duration.
- Délai de réflexion de l'emprunteur 10 jours
- Maintien minimal des conditions de l'offre 30 jours
La réception de l'offre compte comme jour zéro : l'acceptation ne peut intervenir qu'à partir du onzième jour. Délai incompressible, et ce n'est pas un délai de rétractation.
- En vigueur depuis le
- Source
- Article L. 313-34 du code de la consommation — Légifrance
See the loan offer and its validity. All mortgage credit advertising recalls this information:
Tout document publicitaire mis à disposition de l’emprunteur portant sur l’une des opérations visées à l’article L. 313-1 mentionne que l’emprunteur dispose d’un délai de réflexion de dix jours, que la vente est subordonnée à l’obtention du prêt et que, si celui-ci n’est pas obtenu, le vendeur doit lui rembourser les sommes versées
Le législateur a jugé que ces trois informations devaient être connues avant même la recherche d'un prêt, et non au moment de signer.
- En vigueur depuis le
- Source
- Article L. 313-3 du code de la consommation — Légifrance
- l’emprunteur dispose d’un délai de réflexion de dix jours
- la vente est subordonnée à l’obtention du prêt
- si le prêt n’est pas obtenu, le vendeur doit rembourser les sommes versées
- En vigueur depuis le
- Source
- Article L. 313-3 du code de la consommation — Légifrance
Preliminary sale agreement on a Friday: when are the keys?
Keep two dates in mind: the earliest possible (complete file, notary available) and the realistic one. The date will slip if a supplementary document, the medical assessment, or the notary’s and the seller’s schedule requires it. Do not schedule a move before the loan offer is accepted and the date is confirmed by the notary.
Six levers to achieve three months rather than five
- Prepare the file before the preliminary sale agreement.
- Negotiate the suspensive condition above the minimum threshold.
- Complete the health questionnaire on the day of submission.
- Describe the loan sought in the clause.
- Schedule the deed with the notary, including the request for funds.
- Review progress every week with the bank.
See also the proof of financing, off-plan purchase and purchase costs. Start with the documents to gather, or schedule each step by telephone.
Create your file before the preliminary sale agreement: this is where the weeks are won.
Sources
Read next
- Mortgage in Lyon: frequently asked questions
- Buying at auction with a mortgage: what must be settled before bidding Bidding with a mortgage: ten questions before the session, the real time a loan takes, and what to do when the payment deadline is too short.
- Works voted on in a co-ownership before your purchase: who pays, and on what date Works voted on before the sale of an apartment: what the 1967 decree places on the seller or the buyer, and what the preliminary sale agreement can change.
- Proof of funding: what it is really worth, and how to obtain it Requested by the agency before the viewing, the proof of funding does not bind any bank. The seven lines that give it weight, and how to obtain it.
All articles on this topic: Mortgage basics