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Buying a Place

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You can consult with a mortgage advisor for free to get a better understanding of the process and the costs involved. Expat Mortgages specialists were helpful and professional and explained the process in detail.

Overview​

  1. Consult with a mortgage advisor
  2. Find a place
  3. Make an offer
  4. Sign the purchase agreement
  5. Finalize the mortgage
  6. Key handover and transfer the ownership in the notary

Costs​

This is the estimated cost of the process based on my experience:

  • Mortgage Advisor: €2000
  • Legal Services from Mortgage Advisor: €500
  • Technical Inspection: €600
  • Home Price Evaluation: €750
  • Notary
    • Transfer Tax: If you're a first time buyer, you might be exempt from this tax depending on the price of the place and your age. This changes every year so check the latest information.
    • Interpreter for Non-Dutch Speakers: €250
    • Deed of Transfer Fee: €750
    • Mortgage Deed Fee: €750
    • Other Costs: €400
    • Some of these services will have VAT (21%) on top of the price.
    • You must pay the remaining taxes and levies of the place from the time you get the keys until the end of the year which the previous owner payed already to the notary as well.

FAQ​

Language Barrier​

Except for the transfer of the ownership in the notary, you can do everything in English. The transfer of the ownership is in Dutch but the notary is required to provide an interpreter for non-Dutch speakers in their preferred language.

Cancellation of Offer or the Purchase Agreement​

Offers are taken seriously and sending offers just to test the waters is frowned upon. If you're having an agent, they will make sure that you're serious about the offer before sending it from your behalf as it would affect their reputation as well.

With that being said, you can take back your offer or if you've signed the purchase agreement, you can cancel it within three days without paying any penalties. After that, you can still cancel but you're obliged to pay the deposit which is usually 10% of the purchase price.

Similarly if the seller cancels the agreement, they have to give you back the deposit and pay you the same amount as a penalty.

Also, purchase agreements might have conditions like getting a mortgage or technical inspection. If the conditions aren't met, you can cancel the agreement without any penalties.

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Conditions in the offer and the purchase agreement increase the risk for the seller as they might lose other potential buyers while waiting for you to meet the conditions. Sellers might accept a lower offer without conditions over a higher offer with conditions. This is not a financial advice. Consult with your mortgage advisor.