Changes To The 7 Day Withdrawal Period

Since 8th August this year there has been a change in legislation under the 'Loi Macron' (Emmanuel Macron is the Minister of Economy, Industry and Digital Affairs in France). Buyers of a property in France have the peace of mind of a cooling off period, known as "délai de rétractation".

A recorded delivery letter is sent after a 'compromis de vente' (property purchase agreement) is signed by both parties. This letter informs the buyer of their right to withdraw during a 7 day cooling off period. This period starting from the next working day after 'presentation' of the recorded delivery letter. The recent review of this law will now extend the 'délai de rétractation' to 10 days as of 8th August. Effectively giving an already anxious seller an extra 3 days of stress until they know their sale is secure. A seller does not benefit from their right to change their mind after they have signed the 'compromis de vente'.