What does VEFA mean in real estate?

You often hear about VEFA when looking for a new apartment, but this term is still unclear for many. What does it correspond to exactly? What are the advantages, the steps to know, the guarantees, the risks and the precautions to take?

This article simply explains what it means to buy a home “off-plan” and how it really works, with the legal protections to know and the essential points of attention.

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What is VEFA?

VEFA means Sale in Future Completion State. This legal term refers to a contract by which you buy a property. before or during construction. You become the owner of the land upon signature, then of the housing as the work progresses.‍. This arrangement makes it possible to buy a new home, directly from the developer, often on plan.

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How does that work in practice?

The off-plan purchasing process takes place in several successive stages. It all starts with a reservation contract : you express your interest in housing and pay a security deposit (often 5 to 10%). This deposit remains blocked, generally with a notary or a financial institution.

Then comes the Signature of the authentic instrument at the notary. This is when the contract becomes official. You are committed to buying, the developer is committed to building. The price is then paid progressively, depending on the progress of the work : foundations, structural work, finishes, delivery... The staggering and calls for funds are strictly regulated by law.

Upon delivery, a reception visit is carried out. You check the conformity of the accommodation: surfaces, finishes, equipment. If everything is in order, you sign the acceptance report and become the full owner. If defects or defects are found, you can express reservations, to be included in the report. Legal guarantees then come into play: perfect completion, biennial, decennial.

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Read our full article on how to buy a new home.

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Why choose VEFA?

Buying off-the-shelf offers several important advantages:

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What legal guarantees and protections?

VEFA is regulated by law to protect the buyer. The seller, in general a promoter, must provide a Financial Completion Guarantee (GFA), or failing that, a money-back guarantee. This guarantee ensures that, even in the event of failure by the developer, the funds needed to finish the construction will be guaranteed. If this condition is not met, the sale is void. (Source: Notaries of France)

In addition to the GFA, after receipt, legal guarantees protect the purchaser in the event of defects or defects: guarantee of perfect completion, biennial warranty, ten-year guarantee depending on the case.

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🚨 Precautions not to be overlooked

Despite its advantages, VEFA involves risks and aspects that need to be carefully checked:

• The delivery time can be a long time often 12 to 24 months. A delay may require the purchaser to manage temporary housing or rent.
• The proponent must be serious, solvent, and have a reliable track record. Check its previous deliveries, financial strength, reputation. Without this, the risk of incompletion increases.
• Upon delivery, you must be vigilant: inspect the finishes, equipment, surfaces. Do not sign the report if defects remain. Take advantage of the guarantees to have it rectified.
• If you buy to invest, anticipate additional costs: charges, start-up, rental management... and make your calculations accordingly.

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Discover our article on the pitfalls to avoid when buying new.

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Conclusion

The VEFA, or Purchase on plan, is a way to safely access new housing. You benefit from recent energy performances, attractive costs and solid guarantees. But this model requires Anticipation and vigilance. Always check the seriousness of the promoter, the content of the contracts, the schedule of the works and the condition upon delivery.

If you are feeling lost, you are not alone. Chez MeCaza, we support buyers every day in their Looking for new housing everywhere in France. Thanks to our Pierre Invest partner, a recognized specialist in new construction, we have access to All current programs, all promoters combined.

🎯 Our mission: to help you find your ideal property in less than 3 weeks, while saving you time, clarity and peace of mind.
And above all: our services are 100% free for you, since we are paid by the promoter you choose.

👉 Call on MeCaza to be well accompanied, from the first plan to the delivery of the keys. Learn more about our new home purchase support service.

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FAQS

Can we cancel after signing?‍

Yes: you have 10 days of withdrawal after the signing of the authentic instrument, without justification.

What happens if there is a delay?‍

If your VEFA includes a penalty clause, the promoter will have to compensate you in case of delay.

Can we make changes?‍

Yes! Via the TMA (modification work purchaser), you can customize finishes, partitions, floors... according to the developer's options.