FAQ - The Perfect House

FAQ

The most frequently asked questions about buying and selling a house

Should the broker be the first to negotiate with me if I am the first to make an appointment for a viewing? Or if I am the first to make an offer?

No, this is not necessary. The broker and the sales determine together with the start of the negotiations. As a buyer, it is wise to ask the selling broker in advance what a sales procedure is.

What is an option?

Option in the legal sense gives a party the choice to conclude a purchase agreement with another party through a unilateral statement. The parties may agree on the terms and conditions of the purchase, but the buyer will, for example, get another week to change his mind. When purchasing a new-build home, such an option is still common. Not when purchasing an existing home. The term "option" is often used incorrectly. Then it has the meaning of certain commitments that a selling broker can make to an interested buyer during the negotiation process. Such a commitment could, for example, include giving an interested buyer 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 possibilities of use of the home. You cannot demand an option; the seller and the selling broker decide themselves whether certain commitments are made in a negotiation process.

When am I negotiating?

The negotiations only start when the selling party responds to your bid by:

  1. Make a counter offer.
  2. Explicitly state that you are negotiating.

So you are not yet negotiating if the selling broker says he will discuss your bid with the seller.

Can a sales broker continue with viewings if an offer is already being negotiated?

Yes that is allowed. After all, a negotiation does not have to lead to a sale. Moreover, the seller will probably want to know if there is more interest. It is also possible to negotiate with several interested buyers at the same time. A broker must clearly state this to all parties.

Often the selling broker will inform interested parties that an offer is already being made or that negotiations are ongoing. The broker makes no announcements about the amount of the bids. This could trigger over-bidding.

When I offer the asking price, does the seller have to sell the property to me?

No, the seller is not obliged to sell the property to you. The Supreme Court has determined that the asking price must be seen as an invitation to make an offer. Even if you offer the asking price, the seller can therefore decide whether or not to accept your bid or (through his broker) make a counter offer.

Can the seller increase the asking price of a property during the negotiation?

Yes, the seller can decide to increase or decrease the asking price. In addition, as a potential buyer you also have the right to lower your bid during the negotiations. As soon as the selling party makes a counter offer, your earlier offer will expire.

Can a broker change the sales system during the negotiation?

Yes that is allowed. Sometimes there are so many interested parties who offer or approach the asking price that it is difficult to determine who is the best buyer. At that time the seller can - on the advice of his broker - decide to change the bidding procedure to, for example, a registration procedure.

In this procedure all bidders get an equal chance to make a bid. The broker must, of course, first comply with any commitments or agreements made earlier, before the procedure is changed.

Does the brokerage commission fall under the "buyer costs"?

No, this commission is not included. "Buyer costs" includes:

  • Transfer tax.
  • Notary fees, including for drawing up the deed of delivery and registering it in the Land Registry.

In addition to the above costs, there may be notary fees for drawing up and registering the mortgage deed. If the buyer has engaged a buying broker, the brokerage fee for this buying broker will be borne by the buyer. These are generally settled via the final statement drawn up by the notary. The costs of the selling broker are borne by the seller.

Deposit or bank guarantee?

It is customary for the buyer to pay a deposit to the notary's account 6 weeks after the conclusion of the purchase agreement. The deposit is 10% of the agreed purchase price. In practice, this deposit is often replaced by the provision of a bank guarantee by the financial institution that provides the mortgage.

How much do I have to outbid?

In the current Amsterdam housing market, it is indeed often the case that you will have to outbid you in order to have a chance to win the house. But whether you have to outbid and how much depends entirely on the home. There is therefore no clear answer to this. We will look at how much it is worth with each client and make a good estimate of a successful bid. It is not an art to make the highest bid, but to make a good bid. Anyone can pay too much, but we also want that if you sell your house again, you will not be left behind with debts.

Why do you need a buying agent?

A buying broker only works in your interest. Where you might immediately fall in love with a house, the real estate agent keeps looking rationally at the house; does it retain its value, does it require a lot of maintenance, what about the foundation and the Owners Association? Just some questions that a buying agent takes into account. Based on this, he gives advice on whether or not to buy a house, and for what price. Then the buying agent knows exactly what to look out for in the negotiations, the purchase contract and the delivery of your new house. Another advantage is that a selling broker would rather sell to a buying broker than to a private individual, because he / she has more confidence in that. Hiring a buying broker has a lot of stripes.

How much is my house worth?

Do you have a home for sale and are you considering selling it? We always visit you without obligation. That way we can get to know each other and view the house in a quiet way. After our conversation we work out an extensive valuation and sales strategy. After this, it is up to you whether you want to sell the property through us.

Do you have knowledge about the future plans of the municipality?

We indeed always pay attention to the zoning plan and request this as standard when purchasing a home. Important for the view, but also for the infrastructure, for example. We always sort this out.

What happens if the consideration period for the three-day deed of sale is over and I still cannot get the financing?

If you have included in the deed of purchase that you can dissolve if you do not get a mortgage (resolutive condition), then you must show the seller two rejections and the deed of purchase can be dissolved. Have you not included a resolutive condition and are you not receiving a mortgage? Then you have to deposit 10% of the purchase price.

Copied
Contact us
How can we help you?
16:20