Buying a house is not something you do lightly. Many things need to be taken into account and because of this, buyers often have questions. Hence, in this blog, we answer four frequently asked questions!
The answer to this question is no! The highest court, the Supreme Court, has ruled in a judgment that the asking price of a property can be seen as an invitation to bid. Once the asking price is offered, the seller has the option to reject it, accept it or have his/her estate agent make a counter-offer.
Once the buyer and seller agree on the purchase price, completion date and resolutive conditions, the selling agent can record this in a provisional deed of sale. Once the seller and buyer have both signed the deed of sale and the buyer has received the copy of the deed, the cooling-off period starts for a private buyer. During this cooling-off period, the buyer can still abandon the purchase.
Once this reflection period is over, finances are in place and there are no resolutive conditions stopping the sale, then the transfer can take place on the completion date at the notary.
Buyer's costs (k.k.) are costs incurred to become the owner of a property. This consists of transfer tax and notary fees for the title deed. This can be assumed to be between 4 and 6 per cent of the property value.
Perhaps obvious, but there are two ways you know you are in negotiations. First, the seller can make a counter-offer. Secondly, the selling estate agent can clearly indicate that he/she is negotiating with you.
View all soon-to-be-sold homes and be the first to be informed when new homes appear on the market.
