Purchase Contract: General guide and Models
The purchase contract is the one that is celebrated in order to transmit the ownership of a good (movable or immovable) of one person (seller) to another (buyer), by the payment of a price in money.
There are many different modalities in the purchase contract with its own characteristics and peculiarities. For the moment, let’s look at the typical characteristics of all purchases.
Common clauses in the purchase contract
The purchase contract is always:
- Bilateral and onerous: it creates for both parties a series of rights and obligations (exchange or delivery of the thing by payment, sanitation of vices…) in exchange for a reciprocal profit.
- Consensual : Consent may be expressed or tacitly, and formalized verbally or in writing. Certain goods, such as real estate, require subsequent granting in public deed for validity.
That they are consensual assumes that the parties agree or arrange all the details and content of the contract:
- The thing or object that is sold: the rights are passed on it, as well as its accessories if it has them. The thing has to be concrete and be within trade, ie, be susceptible to sale.
1. Sale of property: housing or parcel. Next to it are the accessories and guarantees are usually agreed (mortgage or collateral).
2. Sale of Furniture: object of any kind.
- The time and type of delivery: You can agree on a deadline for delivery, and the form of this is agreed, for example, postal mail, through third party, etc.
- True price: value that is requested for a thing or service. The conditions must be: True, in number and fair. The parties may agree to pay the price at the time of delivery of the item, or thereafter on a specific date in a single payment, or in instalments.
- Additional conditions and clauses: within the sale, it is possible to agree on different clauses or conditions added to it (reservation of domain, agreements of preference, resale or not to sell to third parties).
Now let’s see the specialties in each purchase model.
Specials models of the purchase contract
In the guide models of purchase contracts, we analyze them in detail. Here is a summary of the contract options:
- Purchase contract with reserve of domain: in this contract the seller reserves the property of the good object of the contract, until the total price of the operation is liquidated.
- Purchase with reservation (signal or Arras): pre-contract where the parties agree the reservation of the purchase of goods, giving as proof a quantity in a signal concept.
- Contract with a preference agreement: the buyer agrees that, if it is sold in the future, it is a certain person.
- Contract with a pact: the buyer is obliged to give the item to the seller if he does not pay the agreed. Normally, it is agreed in sales in instalments or with date of payment after the delivery.
- Contract with conventional withdrawal or resale: In this model the seller reserves the right to recover the sold object. The purpose of this figure is to give the seller the opportunity to acquire sufficient liquidity, in the hope of recovering the thing when he improves his economy.
- Purchase Agreement “ad gustum”: the buyer can test the thing for a while until it verifies that it possesses the agreed quality.
- Purchase contract in instalments: the buyer agrees to make the instalment payment in a certain number of periodic instalments.
- Purchase with mortgage guarantee: very used for the sale of real estate and furniture of high economic value, since it guarantees the payment of the price. is formalized in a public notary, and to meet all the requirements, the good should not have any encumbrance (must be demonstrated with a certificate issued by the registration of the property).
See model of contract of purchase reservation with Arras
Basic information and documentation
- Select the type of contract you want to make from the forms we offer you.
- Print your document and sign it both, in all its sheets.
- Remember that you must attach the following documents:
1. Identification of the parties (DNI of buyer and seller, of the representative of it, CIF if it is company).
2. Simple copy of the deed of the property registry.
3. Certificate certifying that the good is free of charges.
4. Accessory contracts: mortgage, mandate…
5. Inventory of accessory goods, if any.
Consult our expert lawyers if you have any questions about the purchase contract.
