Buying property – useful facts
- There are no restrictions for foreigners to buy property in the Netherlands
- There are tax benefits for home owners who are liable to pay taxes in the Netherlands
- There is a legal 3-day reflection period after the purchase agreement has been signed
- Registration of the transfer of property must always be carried out by a civil-law notary
- An interpreter is required if any of the parties involved is not a Dutch citizen, even if all parties are fluent in Dutch
- Apartment buildings are managed by an owners’ association, the VvE or Vereniging van Eigenaren The VvE is responsible for the general maintenance and repair of the building and communal areas. The financial condition of the VvE is very important because as a member, you will be liable for your share in any possible debt. Also, if the VvE is short on cash and a major investment is needed, you will be charged for your share.
- The seller of property is subject to a duty to report anything he knows/is aware of that might be of concern to the buyer. This may include hidden defects, noisy neighbours, equipment that fails to work properly etc. On the other hand the buyer has a duty to research. The buyer is expected to find out as much about the property as he or she can. This includes zoning plans, public restrictions, traffic noise (airplanes) etc.
- You will need to buy furniture… Very seldom will you find a house or apartment that is sold furnished. Listed homes always come with a “list of items” or “lijst van zaken” in Dutch. This lists all movable items (yes curtains too) that are left behind, will be taken out or are up for sale (add-on sale). So; if the fridge is not built-in expect to find it on the list of items. You might need pay extra for it.
Any questions about the Dutch property market? Feel free to contact me.