Preliminary agreement – information

Buying a flat is an important and substantial investment. Wondering what to do to be sure the terms agreed with the seller will be honoured on the day of purchase? There is a very simple way – a well-drafted preliminary agreement (umowa przedwstępna). You will find information on what it should contain in this article.

Preliminary agreement – general information

This type of agreement is governed by civil law. Concluding a preliminary agreement obliges both parties to conclude the final agreement. This document guarantees that the proper agreement will be signed in the future, even though finalising it is not possible at present. Who most often uses this solution? Usually people who are waiting for a decision on the granting of a mortgage or a cash loan. The document should contain the essential terms of the final agreement, in order to give the interested parties a guarantee that it will be carried out in the future. The matters most often considered when selling a property are:

• the price of the property
• the deadline for concluding the final agreement
• the specification of the items and parties covered by the agreement (e.g. household appliances, furniture, meter readings)

A preliminary agreement for the sale of a flat may take any written form. We can draw it up ourselves or use an available template. The second option is not only easier but also clearer.

READ ALSO – WITHDRAWING FROM A PRELIMINARY AGREEMENT FOR THE SALE OF A PROPERTY

Elements that should be included in a preliminary agreement

The text of the agreement should begin with the date and place of its conclusion – no special rules apply here. The parties to the agreement may be natural or legal persons, as well as organisational units. The document must contain the details of both parties. For natural persons, it is necessary to include the full name, address and ID document number. For legal persons, remember to give the tax identification number (NIP), the name of the registered office and its address. The most important part of the agreement is the description of the subject of the sale. When buying or selling real estate, additional formal conditions must be met, such as having a notarial deed (akt notarialny). The price must also be recorded. In the case of a preliminary agreement, remember to set the date by which the final agreement must be concluded. The agreement may also include a clause on an advance payment (zaliczka) or a deposit (zadatek).

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