•• HOUSING ••
Buying It is common to appoint a makelaar to do much of the legwork: tracking down appropriate houses, arranging viewings, suggesting areas where there’s room for negotiation and advising on potential pitfalls. Some properties come with specific regulations; some expats have bought property only to find they don’t have permission (woonvergunning) to live in it. As with renting, find a makelaar you trust, who understands your needs and let them get on with it. The agent’s commission will be one or two percent of the purchase price. You can hunt on Funda (www.funda.nl) to get ideas of prices in particular areas or scour the pages of newspaper housing supplements. Proximity to work, schools and amenities all play their part. Be aware of the costs involved in renovating older property to current building standards or the quality required for renting. For leasehold properties, check out the ground rents. Tax is also levied on the deemed rental value (WOZ) set every year. See www.nvm.nl for useful information in English.
We found the property ourselves but it was our makelaar who helped us negotiate a great price. His commission was worth every cent. C.Y., American, Amsterdam
ARRANGING A MORTGAGE (HYPOTHEEK) There are many different types of mortgage and the tax issues are complex. See our Finance section. The general conditions for a mortgage are: • You have a permanent residence permit. • You are in full-time employment or have a continuation statement from your employer. • If self-employed or a contractor, you have certified accounts for the last three years and forecasts for the following year.
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COSTS The buyer generally pays costs (kk - kosten koper) but some costs are tax-deductible. Allow for around six percent on top of the purchase price. Once your offer has been accepted, the property should come off the market. Gazumping is illegal in the Netherlands. Make sure your finances are in place first (i.e. that a mortgage lender will lend you up to X amount). You can go to any bank for a mortgage offer, but you can also contact a mortgage broker. A mortgage broker can offer you several different options from different banks, so you can choose the best deal. You can also ask a mortgage broker for a second opinion on an offer from a bank. On completion, both parties sign a transfer contract (akte van levering) and the notaris informs the Land Registry (www.kadaster.nl). The whole process can take just two to three months. Pre-sale agreement (koopovereenkomst). Prepared by vendor’s agent or lawyer (notaris) with 72-hour cooling off period. It will include details of when the 10 percent deposit should be paid. Valuation (taxatierapport). Designed for mortgage purposes; not a survey. Transfer or conveyancing tax (overdrachtsbelasting). Two percent of the purchase price (reduced from the former six percent by the government for one year, backdated to 15 June 2011 to boost housing market.). Deed of transfer (transportakte). Mortgage contract (hypotheekakte). Closing fee for bank (afsluitprovisie). Agent commission (makelaarscourtage). Generally one to two percent, if applicable. A full structural survey is sensible; possibly fees for translation, plus 19 percent VAT on the total. Updated in cooperation with Finsens, Expat Mortgages and Perfect housing.
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