Legal Affairs
Before you get your hands on those keys, there are some legal matters that need to be taken care of. That may sound like a lot of hassle, but rest assured, we'll do it together! We'll explain everything to you and make sure all the documents are in order.
What is a purchase contract and how does it work?
A sales contract records what you and the seller have agreed upon. Price, completion date and conditions: here it is in black and white.
Collecting data
Gather all necessary information such as personal information, details of the property, and any special arrangements.
Drafting the purchase contract
With the collected data, the purchase contract is drawn up. In it, all agreements are recorded, such as the purchase price, completion date and resolutive conditions.
Reviewing the purchase contract
Read the purchase contract carefully with a legal expert or broker.This is the time to make any changes.
Follow-up of the purchase contract
After the contract is signed by both parties, completion follows. This includes the transfer at the notary, payment of the purchase price and key transfer.
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Frequently asked questions about legal matters
Understand the legal aspects of buying, selling or owning a home.
What is a purchase agreement?
A purchase agreement is a legal contract between buyer and seller that lays out the terms of the sale of a home. This includes the purchase price, the transfer date, and any resolutive conditions. Both parties must abide by this agreement.
What does a notary do when selling a home?
The notary plays a crucial role in home sales. He draws up the deed of delivery, handles payment, arranges registration in the Land Registry, and ensures that all legal obligations are met.
What is a resolutive condition?
A resolutive condition in a purchase contract gives the buyer the possibility to abandon the purchase under certain circumstances. Common examples are failure to obtain a mortgage or negative results of an architectural inspection.
What does transfer tax mean?
Transfer tax is a tax the buyer pays when purchasing a home. It is a percentage of the purchase price and is collected by the Internal Revenue Service. The percentage can vary depending on the nature of the property.
What is ground rent?
Leasehold is a right to use someone else's land and own a home on it. You then pay a fee to the landowner. The terms of ground lease are set out in a ground lease contract, and these can vary widely.
What is an owners' association (VvE)?
A VvE is an association that manages the common interests of the owners of an apartment complex. The VvE takes care of maintenance of common areas, insurance, and other common issues. Each owner is automatically a member and pays a monthly contribution.
