If seller and buyer agree on the most important matters – including price, delivery date, resolutive conditions and any agreements about movable property – the selling NVM broker will record the agreements in the purchase agreement. Only when both parties have signed the purchase agreement will the purchase be effected.
Resolutive conditions are an important point of attention. If you want to include these in the purchase agreement, you must include this in the negotiations. As a buyer, you do not automatically receive a resolutive condition. Buyer and seller must agree on additional agreements and resolutive conditions before the purchase agreement is made up.
Examples of resolutive conditions are:
- Financing reservation.
- No housing permit.
- Negative outcome of an architectural inspection.
- Not obtaining National Mortgage Guarantee.
- NVM No-Risk clause.
The purchase is only concluded when the purchase agreement is signed by both parties. This follows from the Law on Real Estate and is called the requirement of writing. A verbal or e-mail confirmed appointment is therefore not sufficient.
As soon as the seller and the buyer have signed the purchase agreement and the buyer (and possibly the notary) has received a copy of the agreement, the statutory reflection period commences for the private buyer. Within this time, you as buyer can still cancel the purchase. After this time the purchase is final, unless the resolutive conditions apply.