« Compromis de vente » what's that ?

You are not obliged to establish one, but it is strongly recommended.

Who can write a « compromis de vente » ?
A notary « notaire » (you are sure everything is done properly in this way), or the real estate agent.
In general at the signing of compromise, the buyer pays 10% of the sale.
Once a compromise is signed, you'll receive it by mail « en recommandé avec accusé de réception ».
Starting the day of reception (recommended), you have 7 days to "retract", to change your mind and reject this purchase. If you miss this deadline, you'll be forced to buy and if you do not show the day of signature, a court can force you to buy, it can "force the sale." If you want to "retract" you must do so by letter with acknowledgement of receipt « recommandé avec accusé de réception ».

« Clause suspensive » what's that ?

This part of the compromise says that if the buyer can not find financing (credit), the sale will be cancelled. If you buy a piece of land to build, you can have a suspension clause if you do not get a building permit « permis de construire » for example.
The suspension clause is valid mininum 1 month, you can negotiate it at the time of signing the compromise sale.
If accoring to the conditions of the « clause suspensive » you have to cancel the sale, your deposit will be reimbursed.

Back to the article "buying a home already built"