The sale of real estate is a practice regulated by law in Luxembourg. Consequently, at all times (from the publication of an announcement online to the signature at the notary’s office), both parties are subject to certain obligations, while also enjoying rights. As a seller, be aware of your requirements and the elements that can protect you. They will allow you to consider this project in better conditions!
Pre-sale obligations: the energy pass
The only requirement for selling a property in Luxembourg is to obtain a CPEor (Certificat de Performance Énergétique)(EPC) – sometimes called an energy passport. Valid for 10 years, this document reflects the consumption of primary energy but also its greenhouse gas emissions. He gives it a score from A to I, the first being the best and the second being reserved for the worst students (poorly insulated homes, aging heating systems, humidity, etc.).
In addition, in the case of a sale of an apartment, you must also provide the minutes of the last general assembly of co-owners and the statements of costs related to the common areas. Indeed, the future owner must be fully aware of the cost of housing at the time of purchase, while knowing whether or not major work is being planned.
Other elements, such as plans, large and recent bills (renovations) and energy consumption for heating can be added to your file. They are not mandatory, but can facilitate the sale, because buyers appreciate transparency and are reassured when they access as much information as possible.
“Plans, large and recent bills (renovations) and energy consumption for heating can be added to your file»
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The promise to sell: an official commitment
At the time of signing the promise to sell, you and your buyer agree to sell the property at a given price. In this sense, you can theoretically no longer reverse your decision at this time. If you renounce the sale, the buyer has the right to sue you to claim reinstatement of the process, or to claim damages. On the other hand, if he notices a defect not observed during the visits following the signature of the promise to sell, the buyer is entitled to withdraw (provided he has a reason clearly justifying his intention).
Selling a property in Luxembourg: your rights
To begin with, even before communicating about the sale of your house or apartment, you are totally free to define your price. However, since it is not easy for an individual who is not familiar with the market to position himself, it is generally recommended to rely on the estimates of real estate agencies. Nevertheless, there is nothing to stop you from talking to your agent, to try to get closer to the desired amount.
“You are completely free to define your price. »
At the same time, when a visitor becomes a buyer and signs the promise to sell with you, you are entitled to ask him/her to pay the security deposit. This first payment counts as an additional commitment, knowing that at that time, the abandon of the process by one of the two parties may result in legal action.
In order to respect all your obligations – but also to assert your rights – at the time of the real estate sale, remember to seek the help of an agency, which will accompany you in all the steps.
If I agreed by telephone to an offer to my real estate broker, but I find out later that there was a better offer with the same broker, which he did not communicate to me, am I legally bound to this agreement or not? I have not signed any document yet.
Legally a contract or agreement may also be given orally, but there remains a question of proof. So it always is better to make documents for agreements. So, yes you offer is in principle legally binding but the practically the proff of your commitment will be difficult..