Real estate
Buying or selling a home
Buying or selling a home?
Make sure everything is legally in order
Buying or selling a home involves a lot. This process often runs through an estate agent, but it is also possible to reach agreements directly with the buyer or seller. In both situations, it is important that the agreements made are properly recorded from a legal standpoint.
When purchasing a home, the purchase agreement must always be put in writing. This is also known as a preliminary purchase contract, although there is little “preliminary” about it. Once both parties have signed, a private buyer still has a three-day statutory cooling-off period. After that, the purchase is final and you can no longer simply withdraw from the agreement.
It is therefore important to think carefully in advance about any conditions. Consider, for example, a financing condition or a structural survey. By including these conditions in the purchase agreement in good time, you avoid unexpected risks.
What should you pay attention to as a buyer?
When purchasing a home, it is important to know exactly what you are buying. Is it full ownership or, for example, leasehold, an apartment right or a right of superficies? Conditions may be attached to these rights that can have major consequences. In addition, it is wise to look carefully at any clauses and warranties in the purchase agreement, such as:
- an age clause;
- a non-occupancy clause;
- a materials clause;
- agreements regarding the foundation;
- possible soil contamination;
- the financial situation;
- special provisions of the municipality, neighbours or Owners’ Association.
What should you pay attention to as a seller?
As a seller, you are obliged to inform the buyer properly about the home. Think of visible and hidden defects, agreements with neighbours or the municipality, and other relevant information.
Certainty for buyer and seller
A clear purchase agreement prevents misunderstandings and legal problems afterwards. We can assist you in drafting or reviewing the purchase agreement and ensure that all agreements are clearly recorded.
What can we do for you?
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Frequently asked questions
The notary may only pay out the funds once all documents have been correctly processed by the Land Registry. The average processing time at the Land Registry is two working days.
In addition to the amount you borrow, the deed includes an increase for interest and costs. This serves as security for the bank. In the event of a forced sale, they can then also recover their costs. A so-called increased registration may also be included in the deed.
This allows you, for example, to borrow more in the future for a renovation without having to go back to the notary.
You do not pay interest on the increased amount. You only pay interest on the amount actually borrowed. In a forced sale, the bank cannot claim more than the amount you actually borrowed plus the costs incurred.
Pursuant to the Anti-Money Laundering and Counter-Terrorist Financing Act and the secondary legislation arising from it (the ‘WWFT’), we are required to record certain details of our clients. In connection with this legal obligation, we ask you a number of questions about your identity in our questionnaire.
In addition, the Dutch government has imposed on us the obligation to report unusual transactions and to investigate the organisational structure and the source of funds.
We understand that you may not like providing this information. However, this obligation to ask for information was not devised by us but is a consequence of the law. As a result, even if we have known you for years and feel good about the transaction, we are required to verify the source of funds.
We ask all of our questions in order to put your file in order and allow the transaction to proceed. Please also bear in mind that we may need to ask you to provide further relevant documentation and specifications.
