The written-agreement requirement (schriftelijkheidsvereiste): your offer has been accepted, you're dancing round the living room and you're happy. You've finally done it and grand plans are being made. Your personal details have been sent. The draft purchase agreement has already been drawn up. Let the party begin!
But then the estate agent calls. A higher offer has come in after all, and the seller has decided to sell to that party. Surely they can't just do that? Surely a verbal agreement is an agreement too? What's more, the estate agent confirmed the purchase by email and you've already received the draft purchase agreement.
The written-agreement requirement
Since 2003, a verbal agreement is no longer an agreement when buying a house. By law, the purchase of a house must be recorded in writing: the written-agreement requirement. In writing doesn't mean a WhatsApp, text message or email, but a purchase agreement signed by both parties.
Protecting the buyer
This rule was introduced mainly for the buyer. With a verbal agreement, it's hard for the buyer to determine when the purchase was concluded. The buyer even still has the right to a 3-day cooling-off period after the agreement has been signed by buyer and seller.
Protecting the seller
You can't force a seller to sign the purchase agreement. So if the seller agreed to an offer too quickly, they can still change their mind if an even better proposal comes along. The seller is free to sell to another party as long as the deed hasn't been signed. This feels very unfair, and perhaps it is. However, without a signed purchase agreement you can't enforce the purchase.
These rules apply to private individuals. If the seller or the buyer is a professional party, a verbal agreement is also an agreement and the parties can be held to what was agreed.
So whenever you buy or sell a house, always make sure you get the paperwork in order as quickly as possible. That way both parties have to stick to what was agreed. Do you have a question about this article? Then feel free to get in touch.
