Bilateral promise to buy and sell
It's the contract in which both parties take on mutual obligations: one promises to sell and the other promises to buy a property, on the agreed terms and within the agreed deadline. Unlike an option, where one party decides, here both are committed. It's authenticated before the notary.
Requesting a quote doesn't commit you to anything
- You tell us about your case. It's free.
- We send you the price in writing, within 1 to 3 hours.
- You decide. If it works for you, we start. If not, you delete it with one click and pay nothing.
No one will pressure you. Your information is used only for your case.
Is it for you?
If any of these sounds like you, this procedure is for you.
- For property buyers and sellers who want a firm, mutual commitment in which both are bound to close the sale, not just a reservation. And for real estate agencies and brokers, who get our preferred partner rate by volume
What's included and what isn't
Everything clear from the start. No fine print.
Includes
- Review of the deal terms and the property's documents.
- Drafting of the bilateral promise with the mutual obligations, earnest money, deadline, payment terms and penalties.
- Scheduling of the appointment at the notary office.
- Support during the authentication of the signatures.
Does not include
- The final sale or its recording at the Registro Inmobiliario (Real Estate Registry), which is the next step and which we also handle.
- The appraisal of the property.
- The official notary fee, which is paid separately and varies with the number of pages.
Add to your procedure
Check it and we include it in your quote. You decide at the end.
What you need
Check off what you already have. You don't need everything to request your quote.
You have 0 of 5.
- The buyer's and the seller's details, cédula (Venezuelan ID card) or RIF (Venezuelan tax ID)
- The property details and its title document
- The agreed terms, price, earnest money, deadline and payment terms
- And the penalties if either party fails to comply
- The parties sign in person before the notary
How the process works
You do very little. We take care of the rest. The whole process: on average, 2 to 4 business days.
- Step 1
You give us the terms
You give us the deal terms and the property details.
You do this - Step 2
We draft
We prepare the bilateral promise with the mutual obligations and the penalties.
We do this - Step 3
You sign
We schedule the appointment, confirm the cost, and the parties sign before the notary.
You do this - Result
Done
We hand you the authenticated document, with fecha cierta.
You receive it
We draft the contract with both parties' obligations and the terms, they review it and we coordinate the signing before the notary, a public official.
What it costs and how to pay
There are two separate payments, and we want you to see them clearly.
Our fee: we do all the work for you.
The official notary fee. It goes straight to the agency, and we give you the exact amount, with its receipt, before you pay anything.
How you pay: You pay once, when we start. In dollars, in bolívares at the official BCV exchange rate, or with Cashea.
How is your investment calculated?
Your investment has two parts, and we tell you about each one separately. Our base professional fee, from $60, for drafting the promise and handling its authentication; if you're a real estate agency, our preferred partner rate applies, set according to your volume
The official notary fee, which varies with the number of pages in the document. Official amounts are paid in bolívares at the official BCV (Central Bank of Venezuela) exchange rate Your lawyer gives you the exact figure before you pay anything, no strings attached.
FAQ
What happens if we agree to buy and sell only verbally?
Neither side can force the other to follow through, and the deal falls apart the day one of you finds it convenient to back out. A bilateral promise binds both parties and lets you demand performance.
How is it different from an option?
In an option, one party usually has the right to decide; in a bilateral promise, both are bound to buy and sell.
How much does it cost?
The professional fee, from $60, covers drafting and authentication; the official notary fee is separate.
Can I demand that it be fulfilled?
Yes; if one party fails to comply, the other can demand performance or the penalties. It usually includes earnest money.
Is it recorded at the registry?
The promise is authenticated at the notary office; the final sale of the property is what gets recorded.
About this procedure
The bilateral promise to buy and sell is the firmest commitment before the final sale. Here both parties are truly bound: the promising seller commits to sell and the promising buyer commits to buy, both on the terms, price and deadline they agree on. That's the key difference from a purchase option: in an option, one party typically has the right to decide whether or not to go through with the purchase within the deadline; in a bilateral promise, both are tied to the deal, and if one fails to comply, the other can demand performance or claim the penalties. The Tribunal Supremo de Justicia (Venezuela's Supreme Court of Justice) has drawn the line between these two figures, so it pays for the document to state clearly what is being signed, so there are no surprises if you ever need to make a claim. The parties agree on earnest money, a deadline and penalties, and the document is authenticated before the notary to give it fecha cierta (a legally certain date, so the document holds up against third parties) and binding force. With our real estate know-how, we draft the promise with clauses that match exactly what the parties really want: a firm, mutual commitment. And since real estate agencies work with these contracts all the time, they get our preferred partner rate; tell us your volume and we'll put together an agreement.
Legal framework and important notes
Ley de Registros y Notarías (Registries and Notaries Law) · Código Civil (Civil Code) · Constitución de la República Bolivariana de Venezuela (Constitution of the Bolivarian Republic of Venezuela)
- The big difference from an option is the level of commitment. Here both parties are bound, so the document must state clearly what's being signed, because that determines what you can demand later
- The Supreme Court has drawn these distinctions, so we draft it with precision
- The parties sign in person
- And if you're an agency, ask about the partner rate
We guarantee our service, not what the agency decides. If something depends on them, we tell you clearly and in time.
Is your case different?Ask us, message us on WhatsApp or book a free consultation. A real person answers you.