Once you have found your perfect property and a price has been agreed (note that it's not always possible to negotiate on price - seek advice from your agent regarding each property), the next stage will be to sign a document agreeing to purchase. This is your preliminary contract and the most commonly used  one in Monaco is the 'Compromis de vente' or if you are buying off-plan, a 'Contrat de Reservation'.

This document sets out the details of the purchase with information about the property, the people/companies involved (seller's and buyer's details) and the price, including estimated legal fees as well as details of how you plan to pay for the property.

The standard 'compromis de vente' will include legal clauses and  the sale/purchase will be held subject to these certain legal conditions, such as verifying  good property title etc.The buyer can insert his or her own clauses into the contract and can make the contract subject to(although the all-encompassing "subject to survey" does not exist). 

There are also standard clauses that appear in the contract such as making the sale conditional to obtaining a mortgage. The contract must be signed  and dated by both the vendor and purchaser.

The preliminary contract can be signed either with the agency or in front of a Notaire. In order to help you understand this contrcat we can provide you with translations in English.