KudoZ home » French to English » Tech/Engineering

vente en l'état futur d'achèvement

English translation: Pre-sale, prior to completion of construction

Advertisement

Login or register (free and only takes a few minutes) to participate in this question.

You will also have access to many other tools and opportunities designed for those who have language-related jobs
(or are passionate about them). Participation is free and the site has a strict confidentiality policy.
GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:vente en l'état futur d'achèvement
English translation:Pre-sale, prior to completion of construction
Entered by: Red Cat Studios
Options:
- Contribute to this entry
- Include in personal glossary

01:26 Jun 11, 2002
French to English translations [PRO]
Tech/Engineering
French term or phrase: vente en l'état futur d'achèvement
also abbreviated as VEFA
Paul Sadur
Local time: 04:51
Pre-sale, prior to completion of construction
Explanation:
Given your previous question, I assume this is a building that is sold before the contractor has finished building it. See, for instance:

Aztec Group: Services
... whole. Pre-Sales, We arrange the advance purchase of income producing
real estate prior to completion of construction. Investment ...
www.aztecgroup.com/services.htm

www.intrawest.com/ppt/260402 CL-Paris3.ppt
File Format: Microsoft Powerpoint 97 - View as HTML
... Pre-Sales: 73% of all units have been sold prior to commencement of construction (1996-2001). 85% of all units have been sold prior to completion of construction. ...
Selected response from:

Yolanda Broad
United States
Local time: 05:51
Grading comment
Thanks! After looking up VEFA on Google, I tentatively translated it as "advance sales", but I will change it to your real-life example.

4 KudoZ points were awarded for this answer

Advertisement


Summary of answers provided
5 +3Pre-sale, prior to completion of construction
Yolanda Broad
4Comment
Nikki Scott-Despaigne
3 +1progressive purchase / off -the- plan sale
Peter Freckleton
4 -1contingency saleMatthew Schlecht


Discussion entries: 1





  

Answers


30 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): -1
contingency sale


Explanation:
where the completion of the sale (of real estate) is contingent upon the future completion of another sale


    Reference: http://www.reassoc.com/view/seller121.html
    Reference: http://www.jtwice.com/fsbo/12.html
Matthew Schlecht
United States
Local time: 05:51
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 28

Peer comments on this answer (and responses from the answerer)
agree  Marnelaine
32 mins

disagree  Nikki Scott-Despaigne: No contingency here. It's to do with buying a property(UK)/real estate(US) before its contruction is complete (or even underway)
2 hrs

disagree  Tony M: I would entirely echo Nikki's comment
841 days
Login to enter a peer comment (or grade)

36 mins   confidence: Answerer confidence 5/5 peer agreement (net): +3
Pre-sale, prior to completion of construction


Explanation:
Given your previous question, I assume this is a building that is sold before the contractor has finished building it. See, for instance:

Aztec Group: Services
... whole. Pre-Sales, We arrange the advance purchase of income producing
real estate prior to completion of construction. Investment ...
www.aztecgroup.com/services.htm

www.intrawest.com/ppt/260402 CL-Paris3.ppt
File Format: Microsoft Powerpoint 97 - View as HTML
... Pre-Sales: 73% of all units have been sold prior to commencement of construction (1996-2001). 85% of all units have been sold prior to completion of construction. ...


    Reference: http://www.google.com/search?hl=en&lr=&q=%22prior+to+complet...
Yolanda Broad
United States
Local time: 05:51
Native speaker of: English
PRO pts in pair: 1551
Grading comment
Thanks! After looking up VEFA on Google, I tentatively translated it as "advance sales", but I will change it to your real-life example.

Peer comments on this answer (and responses from the answerer)
agree  Paul Mably
1 hr

agree  Nikki Scott-Despaigne: We have had this oen before : http://www.proz.com/glossary/74992
2 hrs
  -> Whoops! I should have checked myself, shouldn't I?

agree  Florence B: and http://www.proz.com/glossary/187164 - why do we always have the same questions ?
5 hrs
Login to enter a peer comment (or grade)

1 hr   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
progressive purchase / off -the- plan sale


Explanation:
As I understand it a VEFA involves progressive payment for a property at various stages of construction.

"Vente sur plan" sounds slightly different - buying off the plan usually involves a deposit plus payment on completion of the building.

Peter Freckleton
Australia
Local time: 19:51
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 722

Peer comments on this answer (and responses from the answerer)
agree  Nikki Scott-Despaigne: Agree with the distinction made. VEFA requires progressive payment, ownership being progressive as work progresses.http://www.notaires.fr/csn/textes.nsf/ac92b5738c117914012568... & http://www.perissol.c
2 hrs
  -> Thanks-useful reference. I am not sure there is an exact English equivalent
Login to enter a peer comment (or grade)

3 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
Comment


Explanation:
A 2-stage sale with a "reservation contract" preceding the "contract for sale".

The owner pays bit by bit as the work progresses. He becomes owner of each bit - bit by bit.

http://www.notaires.fr/csn/textes.nsf/ac92b5738c117914012568...

La vente en l'état futur d'achèvement est le contrat par lequel le vendeur transfère immédiatement à l'acquéreur ses droits sur le sol ainsi que la propriété des constructions existantes. Les ouvrages à venir deviennent la propriété de l'acquéreur au fur et à mesure de leur exécution ; l'acquéreur est tenu d'en payer le prix à mesure de l'avancement des travaux. Le vendeur conserve les pouvoirs de maître de l'ouvrage jusqu'à la réception des travaux.

S'agissant d'une vente portant sur un immeuble à construire…

http://www.perissol.com/perissolvefa.htm

Vente en l'état futur d'achèvement : C'est un contrat de vente d'un programme immobilier avant son achèvement, voire avant le début des travaux. Ce type de contrat est fréquemment mais non systématiquement utilisé dans les programmes Périssol.
Déroulement de la vente : La vente se fait en deux étapes: Un contrat de réservation suivi d'un contrat de vente.

Peter Freckleton's note about VEFA being different to "vente sur plan" should be noted.



--------------------------------------------------
Note added at 2002-06-11 05:01:02 (GMT) Post-grading
--------------------------------------------------

Just been rooting round the glossaries again and found this for VEFA :

http://www.proz.com/glossary/22394

\"turnkey sales contract\" This is a \"contract clé en main\" and is not the same as VEFA.

I shall be amending the glossary.



--------------------------------------------------
Note added at 2002-06-11 05:02:27 (GMT) Post-grading
--------------------------------------------------

Just been rooting round the glossaries again and found this for VEFA :

http://www.proz.com/glossary/22394

\"turnkey sales contract\" This is a \"contract clé en main\" and is not the same as VEFA.

I shall be amending the glossary.



Nikki Scott-Despaigne
Local time: 11:51
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 4416
Login to enter a peer comment (or grade)




Return to KudoZ list


KudoZ™ translation help
The KudoZ network provides a framework for translators and others to assist each other with translations or explanations of terms and short phrases.



See also:



Term search
  • All of ProZ.com
  • Term search
  • Jobs
  • Forums
  • Multiple search