Go Back   English Forum Switzerland > Help & tips > Housing in general  
Reply
 
Thread Tools Display Modes
  #1  
Old 05.04.2011, 11:01
Newbie
 
Join Date: Apr 2011
Location: Vaud
Posts: 3
Groaned at 0 Times in 0 Posts
Thanked 0 Times in 0 Posts
NIKRIVERS has no particular reputation at present
Cooling off period in Switzerland

Hello,

I am hoping that somebody can help me answer the following question:

If you make an offer for a house in Switzerland (via e-mail) is there a cooling off period i.e. a period within which you can change your mind and retract your offer?

Not sure if it is important but the offer hasn't been accepted yet.

Thanks for any help
Reply With Quote
  #2  
Old 05.04.2011, 11:14
jrspet's Avatar
Forum Legend
 
Join Date: Jul 2007
Location: Quaint Wädenswil, Zürich, CH
Posts: 8,131
Groaned at 27 Times in 20 Posts
Thanked 7,036 Times in 3,912 Posts
jrspet has a reputation beyond reputejrspet has a reputation beyond reputejrspet has a reputation beyond reputejrspet has a reputation beyond reputejrspet has a reputation beyond reputejrspet has a reputation beyond repute
Re: Cooling off period in Switzerland

Check for related threads within this subforum - some charges ( administrative time "consumed" ) may apply for declining an offer.
Reply With Quote
  #3  
Old 05.04.2011, 11:25
Newbie
 
Join Date: Apr 2011
Location: Vaud
Posts: 3
Groaned at 0 Times in 0 Posts
Thanked 0 Times in 0 Posts
NIKRIVERS has no particular reputation at present
Re: Cooling off period in Switzerland

Thanks,

I have been looking through but I can't find anything for this specific scenario.

The fact of the matter is I made an offer for a house via-mail and I just want to know if there is a 3 day cooling off period or something like that i.e. As I haven't signed anything am I obliged to continue with the purchase?

I am not sure that I don't, but I would like to know that there is a cooling off period and that it is X days!
Reply With Quote
  #4  
Old 05.04.2011, 11:40
Phil_MCR's Avatar
Forum Legend
 
Join Date: Oct 2009
Location: Basel
Posts: 14,954
Groaned at 295 Times in 199 Posts
Thanked 19,026 Times in 8,002 Posts
Phil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond repute
Re: Cooling off period in Switzerland

you probably need to ask a lawyer. as an unqualified layman, i would say there is no cooling off period, but i'm not sure whether land contracts in switzerland can be oral.

in england, contracts for land must be in writing, so it could be that you have not legally contracted.
Reply With Quote
  #5  
Old 05.04.2011, 12:20
jrspet's Avatar
Forum Legend
 
Join Date: Jul 2007
Location: Quaint Wädenswil, Zürich, CH
Posts: 8,131
Groaned at 27 Times in 20 Posts
Thanked 7,036 Times in 3,912 Posts
jrspet has a reputation beyond reputejrspet has a reputation beyond reputejrspet has a reputation beyond reputejrspet has a reputation beyond reputejrspet has a reputation beyond reputejrspet has a reputation beyond repute
Re: Cooling off period in Switzerland

What happens if I say no to an apartment offer?

withdrawing an offer on a house - estate agent fees chargeable?

Is verbal commitment a legal binding ?

Advice needed please: Breaking a rental contract before moving in

Getting out of a contract before signing the lease

Urgent:Lease contract--change of mind
Reply With Quote
The following 2 users would like to thank jrspet for this useful post:
  #6  
Old 05.04.2011, 12:43
Forum Legend
 
Join Date: Sep 2006
Location: na
Posts: 11,395
Groaned at 37 Times in 33 Posts
Thanked 27,130 Times in 8,375 Posts
meloncollie has a reputation beyond reputemeloncollie has a reputation beyond reputemeloncollie has a reputation beyond reputemeloncollie has a reputation beyond reputemeloncollie has a reputation beyond reputemeloncollie has a reputation beyond repute
Re: Cooling off period in Switzerland

I must stress that you should speak with a qualified legal professional, but...

When we made an offer on our house it was considered binding the minute the seller accepted - and this was a verbal offer.

Had we backed out at that point - even though nothing was written down, and the reservation deposit not yet paid - the sellers could claim the reservation deposit - which was 10% of the purchase price, so no small amount.

I had to research this, as a few hours after we made our offer and it was accepted my husband's boss out of the blue announced that OH needed to move to NY. So there we were, a house just purchased and OH transferred. The lawyer at his company looked into the situation, and decided that if we didn't go through with the sale we clearly forfeited the deposit.

(So we gave his boss a choice - cover our losses, or set it up so that OH could commute NY-CH. It ended up being more cost effective to do the latter.)

This was a purchase in SZ; as always YMMV by canton/Gemeinde/phase of the moon.

Do get proper legal help.
Reply With Quote
The following 2 users would like to thank meloncollie for this useful post:
  #7  
Old 05.04.2011, 13:25
Newbie
 
Join Date: Apr 2011
Location: Vaud
Posts: 3
Groaned at 0 Times in 0 Posts
Thanked 0 Times in 0 Posts
NIKRIVERS has no particular reputation at present
Re: Cooling off period in Switzerland

Thank you for all the comments/advice.

I think my problem is just buyers remorse.. I panic when I buy a pair of shoes from Zara for goodness sake...

It will be my first house and I guess it is a big step so lots to stress over! Funny thing is that if my offer isn't accepted I will probably also feel sad!

Have a good day and thanks again
Reply With Quote
  #8  
Old 05.04.2011, 13:34
Forum Legend
 
Join Date: Jun 2007
Location: Ticino
Posts: 3,079
Groaned at 96 Times in 67 Posts
Thanked 4,056 Times in 1,612 Posts
Snoopy has a reputation beyond reputeSnoopy has a reputation beyond reputeSnoopy has a reputation beyond reputeSnoopy has a reputation beyond reputeSnoopy has a reputation beyond reputeSnoopy has a reputation beyond repute
Re: Cooling off period in Switzerland

Quote:
View Post
Had we backed out at that point - even though nothing was written down, and the reservation deposit not yet paid - the sellers could claim the reservation deposit - which was 10% of the purchase price, so no small amount.
That's interesting beacuse the actual view is that unless a reservation contract has been notarised a reservation deposit is unenforceable (as ludicrous as that may sound). There are also cases where despite a reservation agreement the amount has been judged to be too high and is therefore considered to be unjustified enrichment (Ungerechtfertigte Bereicherung). Any compensation for pulling out of a contract must be linked to actual costs incurred by the seller or perhaps a missed sale. In any case you would most definitely be liable for any notary costs that may already have been incurred. In any case a 10% reservation fee sounds over the top and would probably NOT be enforceable...(although obviously meloncollie your lawyer would disagree)
Reply With Quote
This user would like to thank Snoopy for this useful post:
  #9  
Old 05.04.2011, 13:48
Forum Legend
 
Join Date: Sep 2006
Location: na
Posts: 11,395
Groaned at 37 Times in 33 Posts
Thanked 27,130 Times in 8,375 Posts
meloncollie has a reputation beyond reputemeloncollie has a reputation beyond reputemeloncollie has a reputation beyond reputemeloncollie has a reputation beyond reputemeloncollie has a reputation beyond reputemeloncollie has a reputation beyond repute
Re: Cooling off period in Switzerland

This is what has me sooooo frustrated about house hunting here - for every question, there seems to be two or three differing answers from the experts. It's hard to know who to trust.

Here in SZ, 10% seems to be the normal reservation deposit; at least the houses we looked at 7 years ago and again recently are all asking for that amount. I wonder if this is a left over from those halycon days before prices started to spiral out of control? Given the unbelievable rise in housing prices, that is indeed a lot o' cash to have to cough up - considering that you also need 20-30% against the mortgage...

But it's a seller's market, for every (half decent) house for sale there seem to be plenty of buyers in competition - a seller can ask for just about anything in this market.

(I'm almost at the point of giving up - things are starting to look eerily like the US/UK at the height of the bubble. Been there, done that, don't want to get burned again.)
Reply With Quote
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Cooling off period before applying for Switzerland Non-EU L Permit awesome001 Permits/visas/government 0 18.07.2010 12:01
Contract cooling-off period - Does it exist? oscar_672 TV/internet/telephone 3 15.03.2010 09:32
Notice period when leaving a firm in Switzerland hollisterb Daily life 5 22.01.2010 15:15
Think I messed up.....[cooling off period for online purchases] ZHsci TV/internet/telephone 38 16.12.2009 09:27
Quarantine period on Puppies coming into Switzerland? hollisterb Pet corner 4 14.10.2009 19:16


All times are GMT +2. The time now is 15:29.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2022, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0