Buying a house can be a complicated process. Doing so in a foreign country and in another language actually increases the complexity of the process. But it certainly doesn’t have to be a scary or stressful experience and there are no restrictions placed on foreigners for buying a house in the Netherlands
Let us explain you the steps of the purchasing process
1. Determine How Much You Can Afford
Before you start looking for a home, make sure you are prepared. If you don’t have the money to buy a property outright, you’ll need to apply for a mortgage. You can get a mortgage from an independent mortgage adviser or from a bank. A mortgage advisor will help you to determine how much you can afford and which mortgage and bank would be the best choice for you. Once you’ve defined your budget, it’s time to search for a buying estate agent.
2. Find The Right Real Estate Agent
While you’re under no obligation to do so, there are several benefits to working with an estate agent. They will help you through each step of the home buying process. Find a professional real estate agent, a registered estate agent, one who is allowed to valuate on behalf of the banks and is a member of a association of estate agents. Their knowledge of the home buying process, negotiating skills, and familiarity with the area can be extremely valuable. Since home-buying can be an emotional process, an agent can also act as a mediator between you and the selling estate agent. This can put you in a better position to get the house you like. Find an agent with whom you feel comfortable.
3. Intake Meeting
At the intake meeting, we will meet with you for a one-hour interview to introduce ourselves, advise you about our services and explain the whole buying process. How does it work to purchase a property in the Netherlands? During this meeting we will also inform you about our fee and explain the overview of costs that come along with purchasing a home. If you like to start this buying process with us, expect to sign an agreement that explains the agent’s duties and services.
We will asks several questions about what you are looking for in your next home. Determine what is important to you. What are your needs, “must-haves” and “wishes”? Think about neighbourhoods, number of bedrooms, square meters, outside area, state of the home etc. This list will enable us to find you the best property. We then will send you suitable properties on a daily base, that match your needs
If you like to view any of these properties we will plan the viewings for you. Please mind that most properties for sale, can only be viewed during business hours from Monday to Friday, from 9:00-17:00. Our services includes accompanying you at all the viewings. When you then start viewing homes, you have an the estate agent at hand, who provides you a degree of security and offers a peace of mind. Our estate agents have a considerable experience when it comes to viewing homes and asking the right questions to the selling estate agents. One of the most important reasons for employing an estate agent is the fact that they liaise with the selling estate agents and give you the right advice.
6. Research On The Property
Before buying a property, you should take as much time as you need to find the right home. You need to fall in love with a home. Maybe you can’t pinpoint why you fall for the place, but the feeling is strong. Once you have found that property, we will need to do a lot of background research to give you the right advice. What is known about the foundation, pollution, asbestos, the association of home owners or illegal terraces? Is the association of home owners financially healthy? We will inform you about all these matters.
There are many important matters to be negotiated into the purchase contract. Not only the price and the date of transfer are important but it is maybe necessary that your offer is also subject to finance. Or it might be advisable to add a dissolving clause for the outcome of a technical survey. Your real estate agent will help you to arrange this inspection conducted within a few days after your offer being accepted by the seller. One of our estate agent will walk you through these options. With the current market you can have several offers rejected before getting into contract. So be prepared to some disappointments but know that your dream home is already been build. We just have to find it.
8. Preliminary Purchase Deed
An experienced real estate agent deals with the same contracts and conditions on a regular basis. And is familiar on which conditions should be used, when they can safely be removed and how to use the contract to protect you. Once you and the seller have agreed to the purchase price and the additional conditions, the preliminary purchase deed can be signed. This is the point where the sale is legally binding. By signing a contract, you agree to the terms of the sale and you and the seller must follow the terms of this contract. The cooling off period will start the next day and you have three days to change your mind and walk away from the deal, without any consequences.
9. Valuation of the property
Now that you have signed the preliminary purchase deed, lenders want to have a valuation to provide an independent estimate of the value of the property you are buying. The valuator must be a registered estate agent and a member of an association of estate agents. If your mortgage has been approved, you will transfer 10 % of the purchase price to the escrow of the notary or your bank will arrange a bank guarantee.
Before the sale closes, on the day of transfer, you will have a final walk-through of the house. It’s primary purpose is to make certain that the property is in the same condition you agreed up on. This gives you the chance to see if the property is empty and all the equipment is working. After the walk-through you will visit the notary where you will sign all of the paperwork to complete the purchase, so the deed of ownership and the mortgage deed. Everyone shakes hands, you will get the keys and are ready to move into your new home. Congratulations! You are now a Dutch home owner!
The Bottom Line
We see it as our aim to help you finding your dream property, providing you expert guidance to understand all the important aspects and guiding you smoothly through the entire purchase process.