Frequently asked questions

The 10 most frequently asked questions

Buying or selling a home is not something that you do every day. So it is not surprising that when you buy or sell a home you have all sorts of questions. Of course, you can always contact us if you have any questions. For your convenience, we have made a list of the 10 questions that we are asked the most. With the correct answer, of course.

1. When am I ‘in negotiation’?

You are in negotiation from the moment the vendor responds to your offer by making a counter offer or from the moment the vendor explicitly mentions that you are in negotiation. However, you are not in negotiation yet if the selling agent says he will discuss your offer with the vendor.

 

2. May an estate agent continue arranging viewings while negotiating an offer?

Yes, that is allowed. A negotiation does not necessarily lead to a sale. Moreover, the vendor will probably want to know if anyone else is also interested. It is also possible to negotiate with several interested buyers at the same time. As your selling agent, we are obliged to clearly inform all parties if we are in negotiations. We report to interested parties if there is an offer on the property or if negotiations are already underway. We do not inform them of the amount of the offer as this could provoke outbidding.

 

3. When I offer the asking price, is the vendor obliged to sell the property to me?

No, the vendor is not obliged to sell the property to you in that case. The Supreme Court has determined that the asking price is seen as an invitation to make an offer. Even if you offer the asking price, the vendor can still decide whether to accept your offer or make a counter offer (via his/her estate agent).

 

4. Can the vendor change the asking price of a property during the negotiation?

Yes, the vendor can raise or lower the asking price. In addition, prospective buyers also have the right to lower their bid during the negotiations. Because as soon as the selling party makes a counter offer, the buyer’s bid expires.

 

5. Can an NVM estate agent change the selling procedure during negotiations?

Yes, that is allowed. Sometimes there are so many interested parties who offer the asking price or close to it, that it is difficult to determine who the best buyer is. If that happens, the vendor may, of course with our advice, decide to modify the bidding procedure and turn it into a registration procedure, for example. This procedure gives all the bidders an equal chance to make a bid. We must, however, fulfil any prior commitments or agreements before changing the procedure.

 

6. . Is the estate agent obliged to negotiate with me first if I am the first to make an appointment for a viewing? Or if I am the first to make an offer?

No, this is not necessary. The vendor and the selling estate agent together determine with whom they will negotiate. If you are a buyer, ask the selling estate agent in advance about the selling procedure to avoid disappointment. If we purchase the property on your behalf, we will of course ask the selling estate agent about the selling procedure beforehand.

 

7. What exactly does the three-days reflection period mean for the buyer?

The statutory three-day reflection period means that a buyer can retract the purchase without giving a reason. The three-day reflection period starts as soon as a copy of the signed purchase agreement has been handed over to the buyer. The reflection period can last longer than three days if the third day ends on a Saturday, Sunday or an official public holiday. The reflection period is subject to regulations and we will indicate exactly when it starts and ends.

 

8. Does the estate agent’s commission fall under the 'costs for buyer'?

No, the commission for the estate agent is not included. The 'costs for buyer' include the transfer tax and notary expenses, which include drawing up the deed of delivery and registering it in the Land Registry. In addition to the aforementioned costs, there may be notary fees for the preparation and registration of the mortgage deed. When the buyer takes on a property purchase agent, he/she is liable for the agent’s purchase commission. These costs are generally settled through the final bill drawn up by the civil-law notary. The vendor is liable for the selling estate agent’s costs.

 

9. May I, as a buyer, expect advice from the selling estate agent?

The selling estate agent represents the interests of the vendor. He/she will advise the vendor during the selling process. The selling estate agent therefore cannot and should not represent your interests at the same time. So if you want guidance and advice during the purchasing process, it is advisable to hire us as your purchasing agent.

 

10. What does v.o.n. (‘Vrij-op-Naam’) mean?

Vrij-op-naam means that the transfer costs such as the transfer tax and notary expenses are paid by the vendor. The notary’s fees for arranging a mortgage are not covered and are for the buyer’s account. New homes are often presented for sale under the label ‘v.o.n.’. We will inform you clearly and in advance which costs you are liable for, depending on whether you are selling or buying. This way you will never incur unexpected costs.

How can we help you?

We are happy to tell you more about our services. Call or email for an appointment.


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