Offer made: what now?
You've made an offer on a home and, against all expectations, the offer has finally been accepted. Your new home won't be long in coming now. But what do you need to do now and, more importantly, what do you need to arrange? What does the timeline look like up to the key handover?
Contents
- Offer made: what now?
- 1. Send your personal details
- 2. Schedule the building survey
- 3. Check and sign the purchase agreement
- 4. Apply for a mortgage
- 5. Check the notary's documents
- 6. Final inspection
- 7. Key handover
1. Send your personal details
You send all the details needed to draw up the purchase agreement. These are your name and address details, but also, for example, your choice of civil-law notary. It's important to request several quotes from notaries. Always ask the estate agent which notary they've had good experiences with, too.
2. Schedule the building survey
If you've included a building survey in the conditions precedent, it's important to schedule this survey as soon as possible. Since 1 February 2018 this has been a standard condition precedent, unless you've explicitly waived it. We always like to work with Qkeur. A firm that clearly explains what the consequences and risks are. That way you know as soon as possible whether the purchase can go ahead. If the survey doesn't have the desired outcome, try to look together at whether it's still possible to buy the home after a few adjustments.
3. Check and sign the purchase agreement
Check the purchase agreement carefully. Is everything in it as agreed? Are the clauses included the ones that were agreed, and are the amounts and dates correct? Don't have a buying agent, but would still like advice, or would you like an expert to check the purchase agreement? You can request advice from us. Is everything correctly described in the purchase agreement? Then the time has come and the deed can be signed. Once it's signed, the seller can in any case no longer sell to another party. You, in any case, still have the right to the statutory 3-day cooling-off period. Once the conditions precedent and the cooling-off period have expired, the home is really bought.
4. Apply for a mortgage
The purchase agreement has been signed and now the mortgage can be applied for. The mortgage adviser will tell you which documents are needed. After that, the valuer will determine the value. It's important to apply for the financing as soon as possible. Most banks need 4 to 6 weeks to grant the mortgage.
5. Check the notary's documents
The notary draws up the deed of transfer and sends you a completion statement. Besides the notary's costs, the costs of taking out the mortgage and any estate agent's fees, this also includes the settlement of municipal charges, the WOZ assessment and possibly the VvE (owners' association) costs. Always check the documents carefully. Would you like help with this? No problem. We'd be happy to check them for you.
6. Final inspection
Before the key handover, the buyer still has the right to inspect the home. Has the home been left as agreed, and does everything work? If it turns out the home hasn't been left as agreed, inform the notary. Do you have a buying agent? Then the buying agent will make sure money is held in escrow for the repair work, or that the seller is required through the notary to honour the agreements.
7. Key handover
The moment has come: the key handover! If everything is in order, ownership of the home can be transferred. All the signatures are put on paper at the notary's office, and it's time to raise a glass to the sale and purchase!
Would you like to know more, or get help and advice? You can! Get in touch.
