What is "Promesse de Vente"?
The promesse de vente is a preliminary contract that sets the key terms of a property sale before the final deed (acte de vente) is signed.
It is not an informal agreement. In Switzerland, this document carries real legal weight and is typically drafted and certified by a notary.
There are two main types, and knowing which one you are signing can directly impact your risk.
Promesse Unilatérale de Vente
In this arrangement, only the seller is bound. The seller commits to selling the property at an agreed price within a set period. The buyer, meanwhile, holds the option to proceed but is not yet obligated.
This type is less common in Geneva but can appear in pre-sale or new development contexts. It gives the buyer some flexibility — but that flexibility comes at a cost, typically a reservation deposit.
Promesse Bilatérale de Vente (Compromis de Vente)
This is the most common form in Geneva and across French-speaking Switzerland. Both parties are committed to the transaction from the moment they sign.
A typical promesse bilatérale includes:
- Condition suspensive — most commonly, financing approval. If your mortgage is rejected, the contract can be nullified under this clause, and your deposit is returned.
- Due diligence clauses — allowing for property inspections or land register checks
- A fixed timeline — usually 4 to 8 weeks before the final deed is signed
If the conditions are met and neither party withdraws, the promesse bilatérale leads directly to the acte de vente. If you try to back out without a valid contractual reason, you lose your deposit — and may face a damages claim on top of that.
There is no cooling-off period in Switzerland. Unlike France (10 days) or the UK (14 days for certain contracts), Swiss law provides no post-signature window for reconsideration. Once signed before a notary, both parties are bound.
Purchase Agreement for Real Estate in Switzerland: Step-by-Step
The Swiss property buying process follows a clear sequence. Understanding each stage prevents the two most costly mistakes: signing too early or acting too late.
Step 1: Property Selection and Offer Submission
Identify the property and make a written offer. In Geneva, serious buyers move fast; verbal interest is not taken seriously by sellers or agents. A written offer signals commitment and opens the negotiation process.
At this stage, you should already have a preliminary mortgage commitment from your bank. Sellers will not engage seriously with buyers who have not yet confirmed their financing capacity.
Step 2: Signing a Reservation Agreement (Optional)
If the seller requests a reservation agreement, you can sign one to temporarily hold the property. Pay the deposit by bank transfer (not cash) and keep the receipt.
Remember: this agreement is not legally binding unless notarized. It is a gesture of good faith, not a guarantee. Do not walk away from other viewings assuming you are protected.
Step 3: Drafting the Purchase Agreement with a Notary
Once both parties agree on terms, the notary drafts the promesse de vente. The notary acts as a neutral legal authority — not as an advocate for either party. They will verify the land register, check for existing encumbrances, and ensure the contract meets all cantonal requirements.
Both buyer and seller receive a draft for review before the signing appointment. Read it carefully. Once signed, it is binding.
Step 4: Mortgage Approval
Use the signed promesse de vente as the basis for your final mortgage application. Swiss banks will request the draft contract, along with your personal and financial documentation, before issuing a binding financing commitment.
Swiss lenders typically require a minimum 20% deposit, with at least 10% in liquid funds. If your mortgage is rejected and a condition suspensive was included, the contract is nullified, and your deposit is returned.
Step 5: Signing the Official Deed of Sale
Once financing is confirmed and all conditions are met, the notary schedules the final signing. Both parties sign the acte de vente in the notary's office. The notary reads the contract aloud in full before signing — this is not a formality, it is a legal requirement.
Payment is typically made on the day of signing, or shortly after, depending on the canton and the structure of the transaction.
Step 6: Payment and Transfer of Ownership
Ownership does not transfer at the moment of signing. It transfers when the notary registers the transaction in the land register (registre foncier). Only after this entry is completed are you the legal owner of the property.
The notary manages this registration. In practice, it takes a few days to a few weeks after signing. Keys are typically handed over on the day of signing, or according to the timeline set in the contract.
How Much Does It Cost to Finalize a Purchase Agreement in Switzerland?
Transaction costs in Switzerland catch many international buyers off guard — particularly in Geneva, where the total additional costs are higher than the Swiss national average.
Notary Fees
In Geneva, notary fees typically range from 0.1% to 0.3% of the purchase price. Since Geneva notaries are state officials rather than private practitioners, fees are regulated by the canton. On a CHF 1 million property, expect to pay CHF 1,000 to CHF 3,000 in notary fees alone.
Land Registry Fees
Registering the transaction in the land register costs approximately 0.3% of the purchase price in Geneva. This covers the formal transfer of ownership in the registre foncier.
Property Transfer Tax (Droits de Mutation)
This is the number that surprises most buyers. Geneva levies a property transfer tax of approximately 3.3% of the purchase price — among the highest of any Swiss canton. Zurich, by contrast, levies no transfer tax at all.
On a CHF 1.5 million apartment in Geneva, this tax alone amounts to roughly CHF 49,500.
Agent Commission
In Switzerland, the agent commission — typically 3% to 5% of the purchase price — is usually paid by the seller, not the buyer. This is different from many other countries and often surprises international buyers who budget for it on the buy side.
Total Cost Estimate
In Geneva, buyers should budget an additional 4% to 6% of the purchase price to cover all transaction costs — notary fees, land registry, transfer tax, and any ancillary legal or advisory costs. This does not include mortgage arrangement fees or moving costs.
