What Happens Between the Offer and Completion?

Stage 1 — Offer accepted

Once the seller accepts the buyer's offer, both parties have agreed in principle on the price and conditions. At this point, the buyer should: notify their bank or mortgage broker to begin the formal mortgage application; instruct the notary to begin preparing the deed; and begin the due diligence process if not already completed.

The agent will typically draft a heads of terms document or reservation agreement for both parties to sign, recording the agreed price and conditions.

Stage 2 — Reservation agreement and deposit

The reservation agreement (contrat de réservation) is signed by both parties, and the buyer pays the deposit (typically 10 percent of the purchase price) to the notary's escrow account. This stage typically occurs within 1 to 2 weeks of offer acceptance.

The reservation agreement records the agreed terms and provides a degree of security for both parties during the period before the notarial deed is signed.

Stage 3 — Due diligence and financing

During this stage, the buyer completes due diligence on the property (land register review, building inspection, PPE documentation review) and finalises mortgage financing. The notary prepares the purchase deed and verifies the legal status of the property.

For non-resident foreign buyers, the Lex Koller application is submitted to the cantonal authority during this stage. The application requires the buyer's identity documents, evidence of the intended use (holiday home) and the property details.

Stage 4 — Deed signing and completion

Once all conditions are satisfied — financing confirmed, due diligence complete, Lex Koller authorisation received (if required) — the notary arranges the deed signing appointment. Both buyer and seller attend (or are represented by a power of attorney) and sign the purchase deed in the presence of the notary.

The purchase price (less the deposit already paid) is transferred to the notary's escrow account before signing. The notary then registers the transfer in the land register and releases the funds to the seller. Key handover takes place on the agreed date.

Key points

• Stage 1: Offer accepted — instruct notary, begin mortgage application, start due diligence
• Stage 2: Reservation agreement signed, 10% deposit paid to notary escrow
• Stage 3: Due diligence, financing finalised, Lex Koller application (if required)
• Stage 4: Deed signed, purchase price transferred, land register updated, keys handed over
• All conditions must be satisfied before deed signing — no withdrawal after signing