Offer accepted! What now?
You have made an offer on the house of your dreams, and the offer has been accepted! What now? We will outline for you what happens after your offer has been accepted.
Preliminary purchase contract
The first official document you will sign after your offer has been accepted is the (preliminary) purchase contract. In advance, you and the selling party will agree on the resolutive conditions, such as a financing condition. If you are unable to secure the mortgage, you can cancel the purchase free of charge.
How long is the reflection period after making an offer on a house?
Once you have signed the purchase contract, you still have three days to withdraw from the purchase without needing to provide a reason.
Arranging a mortgage after an offer
Now it is time to finalise your mortgage. Have you not yet visited a mortgage advisor? Do so as soon as possible to ensure that you choose the ideal mortgage type and fixed interest period for your personal situation.
Before the mortgage provider gives you a final decision, the new property must first be valued, among other requirements.
Structural survey
The structural survey is a resolutive condition that is often included in the purchase contract. This allows you to withdraw from the purchase free of charge if hidden defects are found in your new home. Alternatively, you can renegotiate the price.
Insurance
Your home contents insurance and building insurance must be in effect when you receive the keys to your new home, so make sure to arrange these in time. Most mortgage providers no longer require you to take out life insurance. However, the mortgage provider will require you to take out building insurance. First, check whether the building insurance is already included in the VvE (Owners' Association) contribution. This is also a good moment to take out liability insurance or legal expenses insurance.
Signing at the notary
The notary arranges the formal transfer of the property. Here, you will sign the mortgage deed and transfer deed. After that, you will receive the keys, allowing you to move into your new home. Congratulations, the house is yours!
Have you not yet made an offer but have your eye on a property? Calculate what your monthly payments would be for the offer you had in mind. Has your offer on a house been accepted and you still need to visit an advisor? Then quickly make an appointment at one of our branches.
Frequently asked questions
Can you still withdraw as a buyer?
Homebuyers often wonder: how binding is an offer on a house? Can you still withdraw an offer on a house? As a buyer, you have the right to a three-day reflection period after your offer has been accepted. So, if you regret your offer on a house, you can still withdraw from the purchase within this period. If you have included resolutive conditions in your offer, you can still withdraw your offer if the conditions are not met.
What is the difference between 'under offer' and 'sold under reservation'?
Sometimes, you may see a label on Funda for a house, such as 'under offer' or 'sold under reservation'. If a house is under offer, it means there is a serious prospective buyer who has made an offer on the property. However, you can still view the house and make an offer yourself. If a house is sold under reservation, negotiations have been completed and the purchase contract has been signed. However, the sale only becomes final once the resolutive conditions have expired.