Putting in an offer on a house?

A buyer’s agent will help you find and buy a house. They know the housing market inside out and what’s involved in buying a property. Needless to say, a buyer's agent charges a fee for their services. You could also choose to do it all yourself. If you do, bear in mind that you will have to get the property valued and negotiate on the price yourself. While most of the information you need is relatively easy to find online, buying a property is not something you do every day. That’s why it’s a good idea to have someone inform you. 

Before you start, think about how much you’re willing and able to borrow for the property. You can borrow up to a maximum of 100% of a property’s market value, meaning that you’re very likely to have to use some of your own money as well. If you intend to install energy-efficiency measures in the property, you can borrow up to 106% of the property’s market value. If you’re buying an apartment, bear in mind that you will be paying a service fee to the owners’ association (Vereniging van Eigenaren, VvE). This fee also counts towards the total mortgage costs of the house. 

If you have set your sights on a house and want to put in an offer, it would be helpful to have an idea of how much the property is worth. Getting a property valued is not free and the costs involved can vary greatly. You can, for example, request information on the property from the land registry office, which is called Het Kadaster in the Netherlands, or get a value report from Calcasa. However, you can also engage a property valuer to put together a valuation report for you.

As soon as you know how much you can borrow, you can start putting in an offer. Getting your opening offer right is very important, as it needs to be interesting enough to the seller for them to make a counteroffer. Always do this in writing so as to prevent misunderstandings.

You can also enclose a financial check with your offer. This is a provisional estimate of your financial options that a mortgage adviser can provide in a no-obligations orientation meeting.

There is more to an offer than just a figure. The offer and the negotiations also go into resolutive conditions and transfer arrangements. A seller who is waiting for their new house to be completed may prefer to move out in a few months’ time. Or the seller may want to move out as soon as possible. If you let the seller know in the offer that the transfer can be formalised whenever it suits them, this may work in your favour.

When you put in an offer on a house, you also specify any resolutive conditions you have. This means that the sale will only go ahead if these conditions are met. If they’re not met, you can easily get out of the deal without having to pay a penalty. Common resolutive conditions are the following:

1. Subject to financing: if you’re not sure yet whether you will get the financing you need for the property, you should state in the offer that it will only be effective if you can arrange the financing you need. Only then can you pull out within a term that is generally 6 to 8 weeks.
2. Subject to survey: it’s always a good idea to have the property surveyed. If the survey reveals unexpected technical defects, you may be able to terminate the sale. Arrange your survey yourself or have Maatwerk Woondiensten do it for you.
3. Subject to sale: this resolutive condition means that the sale will only go through if you manage to sell your current home within a certain time span. This way you avoid having to pay for two homes. The seller can keep the property on the market during this period. The question is, however, if the seller will be willing to accept this condition, especially in these current times.

If the seller has accepted your offer, the next step is to sign a purchase contract. This contract contains everything you have agreed on with the seller. After signing it, you have a three-day statutory grace period, following which the offer will be final. Check when your grace period expires, whether your resolutive conditions are in the purchase contract, and what else has been agreed on, such as the payment of a deposit. 

Once you’ve signed the purchase contract, it’s time to take out your mortgage. This generally takes a few weeks. Make an appointment with an adviser for a free orientation meeting.