1) Purchase procedure for a holiday home

Once the client has made his choice, the procedure is as follows:

a) To complete a civil status questionnaire.

b) To sign a Power of Attorney which states:

• the name and full address of the purchaser(s
• the location and name of the chalet, the number of the apartment and its floor
• the number of the parking bay (if applicable)
• the detailed sale price : price of the apartment
• + price of the parking bay
• + price of any furnishings (if applicable)

= Total Sale Price

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• the schedule of payments, in relation to the progress of the works, if buying off-plan

(% of the total purchase price)

c) To provide copies of the first three pages of each purchaser’s passport or identity card duly signed. The signature of the purchasers on the copy of the passport or identity card must be authenticated by a Notary or solicitor.

d) To pay a reservation deposit of 15% into the Notary’s holding account

These documents (a.b.c.) are normally completed and forwarded to the Notary by our office.

Only once all these documents & payments (see a.b.c.d.) have been received will the notary take the following steps:

1. Sign an agreement to sell and purchase (Promesse de vente et d’achat) or a contract for a sale for conditional completion (Vente à terme conditionnelle).
2. Apply for the authorisation to purchase on behalf of those who are not resident in Switzerland.

The administrative time taken to obtain the authorisations is usually two to three months form the date the application is submitted.

Once the authorisation has been received from the cantonal department and ratified by the Federal authority, the Notary will draw up the final contract to sell (Acte de Vente Définitif) if there has been an agreement to sell and purchase, or the transfer document requisition to the Land Registry has been signed if a conditional sale contract has been signed.

There is no need to worry about not receiving an authorisation to purchase as long as the future owner does not own another property in Switzerland and that the surface conditions are not exceeded.

The procedure will follow its course and you will be asked to pay, as per the clauses in the contract, the instalments at the time of their deadlines.

The Notary’s fees and the acquisition costs (about 5% of the sale price) must be settled on the day of completion.

2) Guarantees

a) The construction guarantee for a new property is as follows:

• 5 (five) years for construction defects
• 10 (ten) years for hidden defects

Your best guarantee is the experience and professionalism of the developer-builder who assumes wholly his responsibilities.

b) Resale properties have no guarantee.

c) Guarantee for the good finish of the work

An official notary (practising in the Canton of Vaud) will act for both the vendor and purchaser. He will complete all the documents required for the legal acquisition and will protect the interests of both parties.

The guarantee given to the builder-developer by the banking establishments is real and objective: the banks will only grant their trust to developers with a solid financial base.