What is a preliminary agreement (umowa przedwstępna) for the sale of a flat?

Buying a property is a serious step that requires proper preparation. A key part of the transaction is signing a preliminary agreement (umowa przedwstępna) for the sale of the flat. Wondering what such a document is and what its functions are? In this article you will learn how to prepare properly for concluding a preliminary agreement for the sale of a flat and what elements it should contain.

What is a preliminary agreement for the sale of a flat?

A preliminary agreement for the sale of a flat is a document that the parties sign before concluding the contract for the sale of the property. Its purpose is to protect the interests of both the buyer and the seller. In a preliminary agreement for the sale of a flat, the most important element is that each party agrees on the terms of the final document. The seller and the buyer declare their intentions, and the agreement gives a sense of security that the sale contract will be concluded.

What should a preliminary agreement for the sale of a flat contain?

A preliminary agreement for the sale of a flat should contain a number of essential elements related to the transaction. Its content must include, among other things:

• the time, place and date of concluding the document;
• information on the price of the property;
• the terms of sale;
• the deadline for completing the transaction;
• a description of the property and of the obligations that must be fulfilled before the final agreement is signed;
• if necessary, the conditions for withdrawing from the agreement.

In addition, the parties may decide to pay a deposit (zadatek), which is a guarantee that the final agreement will be concluded.

Form of a preliminary agreement for the sale of a flat

A preliminary agreement for the sale of a flat should be concluded in the form of a notarial deed (akt notarialny). This is a guarantee of the legality and correctness of the transaction. What is more, such a document gives greater certainty that if the seller withdraws from the intention to sell the property, the buyer will be able to bring a claim before a court to have all the provisions of the documents fulfilled. In addition, the notary ensures that the rights and interests of the parties are properly protected.

Advantages of a preliminary agreement for the sale of a flat

As we have already mentioned, a preliminary agreement for the sale of a flat gives both parties security. The seller can be sure that the buyer has committed to concluding the sale contract, and the buyer, in turn, can start the mortgage process or other activities connected with buying the property. In addition, thanks to the preliminary agreement the parties have more time to prepare all the documents needed for the final transaction.

Summary

A preliminary agreement for the sale of a flat is a specific type of contract whose purpose is to protect both parties to the transaction. In practice it consists of concluding a written document between the seller and the buyer, in which the seller undertakes to hand over the property at a specified date in the future, and the buyer to pay the agreed price. Are you looking for an estate agency in Katowice that will help you with selling or buying a flat? Choose proven specialists who know the local market better than anyone. With their help, the process will be simple and trouble-free.