If you want to sell your house, there is more to it than just finding a suitable buyer and agreeing on a price. There are several legal aspects to consider to ensure that the sale goes smoothly and without complications. Some of the important points are discussed below.
Required documents and information
Before you put your house on the market, you need to have a number of documents in order. These include an energy label and perhaps an architectural or appraisal report. You are also required to provide important information about the home. This includes defects that you know about, such as leaks or a poor foundation. Concealing these defects can lead to legal problems later on.
Duty of investigation and duty of disclosure
The buyer has a duty to investigate, which means he or she must thoroughly examine the house for any defects. As the seller, however, you have a duty of disclosure. You are obligated to share all known defects and important information with the potential buyer. If you fail to do this, you can be held liable for hidden defects afterwards.
Purchase Agreement
The next step in the process is to draft a purchase agreement. Make sure it includes all the important things, such as the purchase price, completion date and any resolutive conditions. Both parties must sign the agreement. After signing, buyers in the Netherlands still have three days of reflection time, during which they can abandon the purchase without giving reasons.
Conditions precedent
You can also include resolutive conditions in the purchase agreement, for example, that the sale will not go through if the buyer does not obtain financing. Both the buyer and the seller can set conditions here. It is important that these are clearly and concretely worded to avoid misunderstandings and possible legal disputes.
Transfer at the notary
The actual transfer of the house takes place at the notary's office. Both parties must be present to sign the deed of delivery and the mortgage deed. The notary ensures that all documents are in order and will register the new ownership situation at the Land Registry.
Selling a house is not just a business transaction; there are also various legal aspects involved. By doing proper research in advance and getting advice from professionals, you can avoid many problems. Proper compliance with legal duties can make a world of difference in making the sale of your home go smoothly.
