Reserva de um imóvel: O que é e como se distingue de um CPCV

Booking a property: What is it and how does it differ from a CPCV.

A reservation agreement can easily be confused with a Promissory Purchase and Sale Agreement (CPCV), but they are different contracts. Understand what reserving a property is and how it works.

20 Feb 20244 min

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Get rid of bureaucracies and let a real estate agency, like Casa no Minuto, handle everything for you! Contact the consultants for more information, or better understand what a reservation agreement is, in this article.

Do you know what a reserve agreement is in the purchase of a property?  

The property reservation agreement aims to guarantee a period of exclusivity in the real estate buying and selling process to the buyer, and define the transaction value.  

With this agreement, the buyer must spend a certain amount, usually reduced, and it is established that the property must be removed from the real estate market for a certain period of time, so that the proposed buyer can verify if the property is compliant and both parties can negotiate all terms of the contract to be signed.

The reservation agreement should not be confused with the Contract of Promise Purchase and Sale (CPCV) and respective down payment associated.

This is because, as a rule, it is the real estate agent responsible for the deal who remains as the faithful depositary of the reservation amount and not the seller, who must refund the amount if the transaction does not materialize.

According to Law 15/2013, of February 8, the amount transmitted under this agreement is not anticipatory of the purchase price of the property, nor of expenses arising from the transaction. This also means that the regime of non-compliance with article 442nd of the Civil Code cannot be applied to it "(i.e., double restitution (in case of non-compliance by the seller) or retention of the deposit (in case of non-compliance by the buyer))".

What are the elements that must be included in the reservation agreement?

The agreement is usually drafted by the real estate agency and follows predefined templates, but in order to protect yourself, you must know the elements that must (definitely) be included in the contract.

This agreement should contain: the identification of the proposed seller and buyer, as well as the real estate agency; the identification of the property in transaction; the amount delivered as a reservation; the established time of exclusivity; the expected deadline for the CPCV and for the deed; conditions that may be in the process of acquiring the property (such as a legal audit of the property or approval of a home loan); it should also be written that, if the deal does not materialize, the reservation amount is refunded to the proposed buyer, or that, if it materializes, the amount is deducted from the CPCV deposit or from the final amount in the deed.

There is a new simplex that waives the need for usage licenses.

Note also that, with the new simplex for urban licensing, even if the presentation of the occupancy license is no longer mandatory, it is important that the reservation ensures the delivery of this document. Not being mandatory does not mean you cannot request it as a requirement to proceed with the business.

In this sense, do not foresee a short period of time to carry out the business, as if a legal audit is necessary, the seller will need more time to validate the property documentation - in this case, at the licensing level.

Need help to better understand all this process of buying and selling a house? A real estate agency, like Casa no Minuto, can help you with all the bureaucratic part, whether it's for selling or buying a property. Save time, money, and worries by turning to the support of real estate consultants!

And if you need a mortgage - it's with us! Contact the credit intermediaries at Poupança no Minuto and access a free mediation service to reach your ideal financing.

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