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Investing in a project under Vente en l'état future d'achèvement

Kevin_R

Good day everyone,

I have invested in a villa under the VEFA scheme since 2021 with a price mutually agreed with the promoter.

The villa was intended to be delivered in 18 months but is still in progress.

The promoter is now requesting an additional 35% of the agreed price to complete the project, stating that costs of materials have risen. Furthermore there is not GFA (Garantie financière d’achèvement) for the project.

I would like to know:

if legally a promoter is not bound to the agreed price and for which agreement has been signed?

if the developer is not obligated to secure a GFA under the VEFA system?

Cheers.

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