The conveyance date is the date that buyers and sellers include in the preliminary purchase agreement to determine when the property is transferred from sellers to buyers at the notary.
On this date, the seller must transfer the so-called "title" of the property to the buyer. The buyer is obliged to pay the remaining amount of the purchase price. A public notary performs this process and its verification. The buyers get the keys to the house when everything is in place!
When is the conveyance date?
The conveyance date can only be set after the bank has given the green light for the transaction and transferred the money to the notary's third-party account. Cash settlements are hardly an issue since the hunt for illegal money has been stepped up.
The conveyance date can be pretty early when the house for sale is not occupied or full of furniture. This is often in the interest of the sellers who want their money quickly.
The occupants must first move out when the house is occupied and still full of furniture. When they move out sometimes depends on their new address.
Tip: During the legal transfer at the notary, you should be able to get the keys to an empty and swept clean house. Preferably no fuss!
On average, there are about 2.5 months between signing the preliminary sales agreement and the conveyance date.
When do you agree on the conveyance date?
The conveyance date is part of the negotiations and can be fixed later. It is often chosen for sentences in the offer letter, such as 'at the latest four months after signing the provisional deed.' This avoids the possibility that, in an exceptional case, you will not get the house for another 12 months. The bank will also demand clarity.
So how does a conveyance date finally come about?
When drawing up the preliminary sales agreement, it is advisable to agree on the actual conveyance date. This is important because a notary will take care of the property transfer, and the notary must also have availability on the agenda.
No notary is needed to set the conveyance date. Usually, buyers choose the notary and can request quotes from notaries. Preferably notaries in the region because of travel costs.
What does a day of conveyance look like?
On the day of the key transfer, buyers and sellers have a signing appointment at a notary's office. There, the home transfer takes place or the legal home transfer.
Beforehand, the buyers had the opportunity to inspect the house once again. It is up to them to use this 'final inspection'. It is not an obligation.
At the notary's office, the preliminary sales agreement is transferred to a formal deed of sale. Any reservations in the preliminary sales agreement, under which the sale can be canceled, will then be exempt. The notary reads the deeds in full. This is done in the Dutch language. An official interpreter must be present if someone is not fluent in Dutch. The notary's office can arrange for an interpreter.
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