Having a place in the Netherlands is great, right? If it's your main residence, it's the best home you could've ever asked for! If you use it as a vacation home, it's a great place to stay when you're visiting this beautiful country. And if you're renting it out, at least you earn some money from it, right? There's no end to the many benefits of owning a property in the Netherlands
. But alas, it's time to let it go. There's always a good chance that you'll need to sell it in the end and it's high time you learn more about the process.
What Are The Costs of Selling Your Property in The Netherlands?
Selling your property in the Netherlands comes with a few costs. There are the notary fees, for instance, which will pay for all the legal work done throughout the process. If you hire a real estate agent
, you'll have to pay them their commission too. This usually ranges from a minimum of 4% to a maximum of 10% of the property value. And when you market your property, you'll want to produce high-quality media to show interested buyers. You can do this yourself, but most of the time, it may be better to pay professionals to do it.
Should You Sell Your Property Privately in The Netherlands?
Although selling your apartment or house in the Netherlands through real estate
is pretty common, it's not a requirement. In fact, there may be a lot of people who will advise you against it. As already mentioned, this is an extra cost and 4% to 10% is no joke. If you want to keep and save more of the profit, you can always sell your property on your own
. At the very least, you take full control over the entire sale. On the flip side, however, you may have a harder time finding a buyer. Those with their own agents will likely suggest choosing properties on sale through real estate.
How Do You Make a Property Valuation in The Netherlands?
Another huge benefit to hiring a real estate agent is that you also get to make use of their other services. These days, many real estate agencies include conducting valuations as part of their package. This is a pretty important part of the process since it will determine just how much your real estate is worth. And from there, you can set an initial asking price for when you put your property in the Netherlands for sale. Apart from that, financial institutions also conduct valuations when a buyer applies for a loan
so that they can buy your property. This is a good alternative for those selling their homes solo.
How Do You Survey Your Property for Selling?
In the real estate process in the Netherlands, conducting surveys is vital. Though it's mostly done by the buyer as part of their due diligence, it's better if you do it as well. Especially before the property valuation. Prior to putting your apartment or house in the Netherlands for sale, you need to know its current state. This way, you can get a rough idea of how much it will be worth even before the property valuation. And remember that buyers consider a lot of things
when choosing a property to purchase. If they don't find them in your home, you won't get any buyers at all!
How Do You Market Your Property in The Netherlands?
Once everything's ready with your place, it's time to put it up for sale. If you hired a real estate agent, that's where they come in. They'll help advertise your property, find buyers through their network, and basically do all the grunt work. But what if you're selling it on your own? What can you do to get your property out there? Have it listed on a property listing website
! These online portals have become the most common platforms for interested buyers to look for available real estate all around the world.
What is The Process of Notarizing Your Property in The Netherlands?
Hiring a notary is one of the most important steps in selling real estate in the Netherlands. If they can also serve as your solicitor, even better! The notary's job is to legalize the entire process, particularly when it comes to handling all the important documents. They'll draw up contracts, deal with government offices, and even help pay the required costs for you. With such an important role, it's important that you hire a trustworthy notary to help you out. Lest you want to fall victim to a real estate scam
. Fortunately, you can find a good one at Notaris.nl
What Documents Do You Need To Sell Your Property?
It shouldn't come as a surprise that selling your property in the Netherlands requires a lot of documents. It's a pretty big endeavor, after all. Not to mention an arduous process. In order to accomplish it successfully, you'll be required to show some important paperwork. They include proof of identity, the property title deed/s, proof of share freehold (if applicable), the Energy Performance Certificate (EPC), fittings and contents form (TA10), information about the property (TA6), mortgage details, the important contracts. Some of these you'll need to get even before you put your property in the Netherlands for sale.
How Do You Set Up the Sale & Purchase Contract?
Once you and the buyer have settled on a final price of the property, you'll want to draw up and sign the preliminary purchase contract as soon as possible. This document is essential to the process. It practically starts the entire sale! Why? Because this is what will legally bind you, the seller, and the buyer to the transaction. Your notary will draw up the preliminary purchase contract and it should include details of both parties (the seller and the buyer), information about the property, the date and time of the signing, as well as the time frame of the payment.
What are The Legal Issues in Selling Your Property in The Netherlands?
Selling real estate in the Netherlands is not free of possible legal issues
you might have to deal with. One of the more common ones is your right to sell it in the first place. Before you can even put the property on the market, you need to let your notary make sure that you are, in fact, listed as the homeowner in the Land Registry. And as already mentioned, signing the preliminary purchase contract legally binds you and the buyer to the sale. If you ever decide to bow out of the agreement after signing, you'll be required to pay the buyer double the amount of the 10% deposit they paid you.
How Long is The Process of Selling Your Property?
There's no definite length of time for selling your property in the Netherlands. Commonly, it takes around two to three months. At times, possibly even half a year! It all depends on various things. On your end, it’s mostly prepared you are at the start of the process. Perhaps the most time-consuming part of selling real estate in the Netherlands is getting all the paperwork done. Many of the legal documents you'll need will come from various government offices and have to be notarized. It can take days, maybe even weeks, to get them all. This is why it's better to only put your property in the Netherlands for sale once you've prepared all your needed documents.
What are The Best Tips for Selling Property in The Netherlands?
Let's end this guide with a few helpful tips
for selling your property in the Netherlands. Firstly, it's best if you brush up on your Dutch, especially if you're selling it on your own. You don't necessarily have to be fluent in the language, but understanding your notary, real estate agents, and perhaps even your buyer will be to your advantage. Secondly, do all the small repairs yourself. The process already comes with a lot of costs and they're on top of whatever needs repairing on your property. If they're small enough that you can fix them on your own, do it!
When the time comes that you need to sell your property in the Netherlands, it's better that you know how to do it wisely and properly. Learn the basics of this process with the help of this real estate guide.