Buying a new property in VEFA means entrusting a significant part of the project to a developer whose finished work will only be seen several months, sometimes several years, after signing. The choice of this partner determines the quality of the delivered property, adherence to the schedule, and the strength of the guarantees. What criteria allow us to distinguish a reliable developer from a fragile operator, and which contractual clauses deserve careful reading before committing?
Financial guarantee of completion and delay clauses: what the VEFA contract really covers
The financial guarantee of completion (GFA) is often presented as an absolute safety net. It protects the buyer against the financial failure of the developer by allowing the financing of the completion of the program. The GFA does not automatically cover a delay in delivery.
Compensation for a simple delay depends on the stipulations of the contract and the reasons invoked by the developer. Delay penalties are not imposed by law in the same way as in a single-family home construction contract. An experienced developer generally agrees to include daily penalties in the reservation contract, while a less solid operator will prefer vague wording or broad exemption clauses.
Before signing, it is relevant to discover Immotive’s services to compare the contractual commitments offered by different developers. Checking for the presence of a clause for quantified penalties, the listed cases of force majeure, and the mechanism for determining delays helps avoid costly disputes at delivery.
Jeanbrun scheme and PTZ in 2026: impact on the choice of new real estate developer
The tax framework for buying new has changed. The Jeanbrun scheme, applicable since February 21, 2026, replaces the logic of Pinel in certain cases. It targets collective housing that meets criteria for environmental performance, rent caps, and rental conditions.
The rental investment strategy can no longer be summarized as “tax exemption in new.” It must be verified according to the acquisition date, building permit, and type of building. A developer who masters these parameters guides their buyers towards eligible programs from the design phase, not after marketing.
| Criterion | Old Pinel scheme | Jeanbrun scheme (2026) |
|---|---|---|
| Type of property | New housing in tense areas | New collective housing, strengthened criteria |
| Environmental performance | RT 2012 or RE 2020 depending on the date | Specific environmental criteria required |
| Rent caps | Yes, by geographic area | Yes, with strengthened rental conditions |
| Application period | Ended since January 2025 | Applicable since February 2026 |
Meanwhile, the zero-interest loan (PTZ) remains a lever for first-time buyers. An experienced developer integrates the PTZ into the financing plan from the reservation, rather than limiting their advice to programs located in tense areas. Eligibility depends on income conditions that can make or break a file: checking this point in advance avoids discovering too late that an advantageous financing option was available.
Financial stability of the developer: indicators to analyze before signing
A new real estate program spans several years from the submission of the building permit to the handover of keys. The financial stability of the developer determines their ability to absorb the uncertainties of the construction site without passing the risk onto the buyers.
Three concrete indicators allow for evaluating this stability:
- The seniority of the developer and the number of programs already delivered. A verifiable history of past deliveries, accessible through commercial court records, provides information on the regularity of the activity
- The presence of a financial guarantee of completion issued by a recognized banking institution, and not by a simple internal guarantee of the group
- The reviews and feedback from buyers on previous programs, particularly regarding adherence to announced deadlines and the quality of delivered finishes
A developer who refuses to communicate their references of past deliveries is a warning sign. Solid operators publish their achievements and accept that potential buyers visit already inhabited residences.
Quality of services in VEFA: read the technical description before the plan
The plan of a new apartment draws attention to the surface area and layout. The technical description, on the other hand, details the materials, equipment, and levels of finish. It is in this document that the quality gaps between developers are hidden.
A vague description mentioning “standard quality tiles” or “white paint” without specifying the reference, weight, or range leaves room for interpretation that the developer will exploit to their advantage. A detailed technical description with manufacturer references offers better protection than a commercial brochure.
Points to check in the description include:
- The exact nature of the exterior joinery (material, acoustic rating, thermal performance)
- The type of heating and ventilation, in relation to the requirements of current environmental regulations
- The floor and wall coverings room by room, with mention of ranges or suppliers
- The kitchen and bathroom equipment (faucets, sanitary ware, countertop)
The partition visit and the pre-delivery visit are the two moments when the buyer can verify the conformity of the property to the description. Documenting in writing each discrepancy noted during these visits creates a contractual lever to obtain compliance before the handover of keys.
The choice of a developer for a new real estate project relies less on the commercial promise than on careful reading of the contractual documents, verification of financial guarantees, and analysis of the technical description. Buyers who invest time in this analysis phase significantly reduce the risk of unpleasant surprises at delivery.
