When buying a house in the Netherlands, a purchase agreement, or "koopakte" in Dutch, is a legally binding document that outlines the terms and conditions of the sale between the buyer and the seller.
This document includes details such as the purchase price, the transfer date, and any conditions or warranties that may apply to the property.
What is a deed of sale?
A sale deed is the same as a purchase contract or provisional sale deed. It is the first important document you will sign as a homebuyer. The deed of sale contains all the transaction details, including the purchase price, the buyer and seller's names, and the transaction's terms. After signing the sale deed, you have three days of reflection time to withdraw from the purchase at no extra cost. Once this statutory period has expired, the deal is final, and you can no longer waive it without penalty.
So what does a deed of sale specify?
The sale deed specifies essential details such as the purchase price, resolutive conditions, and delivery date.
Provisional?
First, it is important to know that a sale deed is simply a valid agreement. There is nothing provisional about it, yet the term 'provisional sales contract' is often used. By signing the bill of sale, you commit yourself to the purchase, albeit subject to certain conditions.
Unbinding conditions
The sales contract also includes the resolutive conditions of the contract. The resolutive conditions are the valid reasons for abandoning the purchase or sale of a house, for example, if you cannot secure the mortgage, i.e., financing reservation.
What is the difference between a sale deed and a transfer deed?
The sale deed is not drawn up by the notary but by the broker. It is the purchase agreement between the buyer and seller. The deed of transfer, however, is drawn up by the notary. After signing and registering this, you are the owner.
Buying? Book your free call
Pick a day and time that suits you. We'll get to know what you're looking for and show you exactly how we help you buy your next home — no pressure, entirely at your pace.
Loading available times...
Continue reading
All terms-
Delivery date
The closing date is the day when, as the buyer, you officially become the owner of the house. After signing the deed of transfer, this document is recorded in the land registry, and you are formally recognized as the owner.
-
Division deed
A notary prepares a division deed to divide a building into several apartment rights. This deed states which apartment rights there are and where they are situated. Each separate dwelling in the building then falls under an apartment right.
-
Asbestos clause
If an asbestos clause is part of the purchase contract, the seller is not liable for any asbestos in the home. If asbestos is later discovered, the buyer or owner is responsible for any removal and all costs. So it is essential to research the presence of asbestos before buying a home.