Estate Agent

FAQ

Purchase

The answer is no. The highest court, the Supreme Court, has ruled in a judgment that the asking price of a home is an invitation to make an offer. If you offer the asking price from an advertisement or housing guide, you are making an offer. The seller can then decide whether or not to accept your offer or whether to have his estate agent make a counter offer. He may even decide to increase the asking price during negotiations.

This will not often happen in practice, but it is possible. In addition, there is a written requirement, whereby the purchase is only concluded after both parties have signed the purchase contract.

Banks apply strict rules for granting new mortgages. These are included in the Code of Conduct for Mortgage Financing (GHF) in combination with ministerial regulations. What are the rules and what can you borrow?

In addition to the income requirement, the 'market value' of the home also counts for lenders. The lender determines what exactly the market value is. That can be:

  • The purchase price of the home
  • The purchase/contract price, possibly increased by land price, construction costs, additional work, construction interest and connection of utilities
  • The appraised value, possibly after renovation
  • You may borrow a maximum of 104% of the market value for an existing home in 2014 (possibly after renovation).

In 2018, the maximum mortgage may no longer exceed the market value of the home (100%). That is why, from 2013, the maximum mortgage will be reduced in six equal steps of 1%. You will therefore increasingly have to pay the additional costs yourself in the future.

If the broker indicates that he is 'under offer', this means that he has a serious candidate, whom he has agreed not to promote transactions with others. However, this does not mean that viewings can no longer take place, unless the broker decides otherwise or agrees with his client. The broker must clearly indicate that he is 'under offer' or is in discussions with another candidate.

Buyer costs (kk) means that the buyer bears all costs related to the transfer of the purchased home. The buyer's costs are approximately 6 % of the purchase price of the purchased home. The buyer's costs include the following costs:

– 2% Transfer tax;
– Notary costs for drawing up the deed of delivery;
– Land Registry costs for registration of deed of delivery.

In addition to these costs, the buyer must also take into account:

– Notary costs for drawing up the mortgage deed;
– Land Registry costs for registration of mortgage deed.

The buyer's costs never include brokerage costs. If a seller engages an estate agent to sell his/her home, the seller will have to pay this estate agent's costs. If the buyer engages an estate agent to purchase a home, the buyer will have to pay this estate agent's costs. So take this into account if you buy a home.

In 2015, you can also borrow a maximum of 104% of the home value, so keep this in mind if you buy a home!

If you have any questions, you can of course contact our office!

During the reflection period, the buyer can still cancel the agreement. This provides the opportunity to consult experts, for example.

The cooling-off period lasts (at least) three days and starts on the day following the day that the buyer receives the deed or a copy thereof signed (by both parties). The reflection period ends at midnight of the last day of the reflection period. It is therefore not important at what time the buyer received the copy of the deed.

If you wish to make use of the statutory cooling-off period, it may be wise to do this in writing, as the burden of proof is difficult if you do this orally.

Negotiations

The seller determines an asking price in consultation with his estate agent. The buyer can negotiate the price, but the seller ultimately decides whether he wishes to sell. This applies to all matters that the seller considers important in deciding whether he wants to sell his home to this buyer. If the seller and buyer agree on all matters, a purchase will only be concluded (after written confirmation).

The broker can negotiate with multiple candidates at the same time. However, he must make this known to those involved.

You cannot force yourself to be in negotiations. You are only negotiating if the seller responds positively to your offer. So: if the seller makes a counter offer. The selling agent can also expressly indicate that he is negotiating with you. You are not yet negotiating if the selling agent indicates that he will discuss your offer with the seller.

Sale

An option in a legal sense gives a party the choice to conclude a purchase agreement with another party through a unilateral declaration. The parties may agree on the terms of the purchase, but the buyer, for example, is given a week's reflection period.

Such an option is still common when purchasing a new-build home. When purchasing an existing home, the term 'option' is often incorrectly used. Then it has the meaning of certain commitments that a selling agent can make to an interested buyer during the negotiation process. Such a commitment could, for example, mean that an interested buyer is given a few days to think about an offer. In the meantime, the broker will try not to enter into negotiations with another party. The interested buyer can use this time to gain a better insight into his financing or the possible uses of the home.

You cannot demand an option; the seller and selling agent decide for themselves whether certain commitments are made during a negotiation process.

No. The buyer's costs never include brokerage costs. If you engage us to sell your home, you will have to pay the costs of our services. If you, as a buyer, engage us to purchase your home, you will have to pay the costs of our services.

Join the buyers who are already ahead. Request a purchase consultation.

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