1. The preliminary contract: the real gateway to VEFA
Buying off-plan does not begin at the final deed, but at the preliminary contract (often called the reservation contract). It is the contract that binds the buyer and the developer on the property, the price and the deadline — even before the walls rise from the ground. In Morocco, sale in the future state of completion (VEFA) is governed by law 44-00, promulgated in 2002 and completed by law 107-12 in 2016.
The most common trap: signing a simple reservation slip under private deed, accompanied by a cheque, without going through the form required by the law. Yet it is precisely the authentic formand the content of the preliminary contract that activate the buyer's protections — deadline, guarantees, refund conditions. Before any significant payment, require the preliminary contract in proper form.
2. Required form: notary or adoul, never the simple slip
The law requires that the preliminary VEFA contract be drawn up by a notary or an adoul. This authentic form is not a formality: it conditions the very validity of the commitment and the ability to rely on the guarantees provided by law 44-00.
To remember: the notary secures the form of the deed and ensures the required mentions, but does not establish the market value of the property — that is neither their role nor their trade. That is where independent appraisal comes in, upstream.
3. The mandatory mentions — the checklist to verify clause by clause
Before signing, go through the preliminary contract line by line. Here are the elements that must appear in it:
- Identity of the parties and land title of the plot — check that the developer is indeed the owner.
- Description of the property and annexed technical specifications — areas, materials, equipment, signed dimensioned plans. This is the reference that will prevail at delivery.
- Price and payment schedule — correlated to the actual progress of the site (see next section).
- Precise delivery deadline — mandatory mention imposed by the law. Beware of vague wording; an imprecise deadline weakens your recourse in case of delay.
- Conditions of resolution and refund of the sums paid in case of default.
- Bank completion or refund guarantee, annexed to the contract.
The absence of an essential mention — deadline, specifications, guarantee — weakens the contract and, above all, your position if the project goes off the rails. Have these clauses reviewed by a professional who defends yourinterests, not the developer's.
4. The schedule and the escrow account: never pay ahead of the site
One of the key protections of law 44-00 is the capped payment schedule, correlated to the effective progress of the site: for reference, the benchmark scheme is 20% at the signing of the preliminary contract, 30% at structural work, 30% weatherproof / airtight, 20% at delivery. Any schedule that demands more upfront, or disconnected from the real milestones, is unfavourable to the buyer.
Second reflex: require the payment of funds into an escrow account until the contractual stages are released, rather than direct transfers to the developer. Coupled with the bank completion or refund guarantee, the escrow is what makes the refund of the deposit truly enforceable and operative in case of default.
💡 The right reflex: have the price and the contract checked before the first cheque
The preliminary contract fixes the price and commits the deposit. Once the cheque is signed, your negotiation margin collapses. Before that moment, an independent appraisal compliant with RICS (Red Book) standards— consistency of the price with the district market, reading of the guarantees, control of the specifications — tells you whether you are paying the right price and whether the protections are really in place. It is also a solid piece for what follows: in case of dispute, the buyer's file that has documented the value and the compliance of the contract is much better armed. The timing is comfortable: report delivered within 5 to 8 days (48-72h express), from 3,500 MAD excl. tax, firm quote within 24h — well ahead of signing.
5. Withdrawal and resolution: exiting the contract and recovering the deposit
What happens if the buyer wants, or has, to exit the contract? Two situations to distinguish:
- Conditions provided in the contract — the preliminary contract must set the conditions of resolution and refund. Read the withdrawal clauses carefully, any retentions, and their reciprocity: a penalty that weighs only on the buyer, with no counterpart in case of the developer's breach, is an imbalance to contest before signing.
- Developer's default — when the developer does not meet its obligations (notably the delivery deadline) without justifying a force majeure, the buyer can request the resolution of the contract with refund of the sums paid, plus damages.
The practical rule: the quality of the refund depends directly on the compliance of the preliminary contract with the law and on the regularity of the escrow deposit. A botched contract upstream means a weakened recourse downstream.
6. Full refund: what Moroccan case law says
The full refund of the deposit is not a theoretical promise: it is now established in case law. The clearest illustration is the ruling of the Casablanca Commercial Court of Appeal no. 4775 of 7 October 2021, which we covered in detail: an apartment reserved in Bouskoura, delivery promised for the end of 2019 and never carried out. The Court ordered the full refund of the 332,500 MAD paid, plus 20,000 MAD in damages — even correcting the first-instance error that had reduced the refund.
The lesson of this ruling is twofold. First, the principle is protective: no discount, no retention for fees — the full deposit. Second, the compensation remains modest (the damages cover neither the time value of the money tied up, nor the years of proceedings). In other words: recovering your deposit does not repair the real economic loss.
7. Prevent rather than repair: the real stake
Everything converges towards the same conclusion: the best reservation contract is the one whose refund clauses you never have to invoke. Prevention runs through a few concrete reflexes before signing:
- Check the developer's track record — operations delivered over recent years, the gap between promised and actual dates.
- Check the existence of the bank guarantee of completion or refund — the bank's letter, not a simple mention.
- Require the escrow account and a schedule indexed on the real milestones of the site.
- Have the value of the property checked by an independent appraisal — so as not to pay an inflated price and to have a defensible basis in case of dispute.
- Have the clauses of resolution, withdrawal and penalties reviewed by a professional who represents your interests.
These checks cost a fraction of the price of a multi-year procedure to recover a deposit without valuation. That is the very meaning of pre-purchase due diligence.
8. FAQ
Reservation slip and preliminary contract — are they the same thing?
No. A simple reservation slip under private deed does not have the value of the preliminary contract drawn up by a notary or adoul required by law 44-00 (completed by law 107-12). Only the latter activates the protections: authentic form, mention of the delivery deadline, annexed specifications, bank guarantee. Do not commit a significant sum on a simple slip.
What payment schedule can the contract provide?
The payment schedule is capped and correlated to the progress of the site; the benchmark scheme of law 44-00 is 20% at signing, 30% at structural work, 30% weatherproof / airtight, 20% at delivery. Any schedule that demands more upfront is unfavourable to the buyer. Confirm the exact terms with your notary.
What should you check in the completion or refund guarantee?
Check the existence of a guarantee letter from a bank, annexed to the contract, and its exact object (completion of the works or refund of the sums). Coupled with the escrow account, it is the safety net that makes the refund operative in case of default. A mention in the contract without a bank document attached is not enough.
Can I withdraw after signing the preliminary contract?
The conditions of withdrawal and resolution appear in the preliminary contract itself: any retentions, reciprocity of penalties, deadlines. Read these clauses before signing and have them checked. For your specific situation, turn to your notary or a lawyer — the terms fall under the contract and the regulations in force.
Is a RICS appraisal mandatory before signing?
No, no text imposes it. But before fixing the price and paying the deposit, an independent appraisal report produced by RICS-certified experts checks that the price is consistent with the district market, that the guarantees are really in place and that the specifications hold up. Once the cheque is signed, your margin disappears. Report within 5 to 8 days (48-72h express), from 3,500 MAD excl. tax, firm quote within 24h.
Presented with a reservation contract? Have it checked before the cheque.
RICS-certified experts — price check, reading of the guarantees and specifications, due diligence of the programme. Reports compliant with RICS (Red Book) standards, within 5 to 8 days (48-72h express), anywhere in Morocco.
Note: VEFA is governed by law 44-00 on the sale of buildings in the future state of completion, completed by law 107-12 (2016). Mandatory mentions, authentic form, guarantees, schedule, withdrawal and refund fall under the texts in force: confirm your situation with your notary or a lawyer. To document the value of your property and the compliance of your file, see our real estate appraisal page or the real estate blog.