What you need to know

We R Expats provide a dedicated Client Relations Director (Our Client Relations Directors’ are Expats) to assist you during the whole property buying process. We work with a team of Dutch experts who report into us and we account manage the whole process for you. Clients ask what we charge. Nothing! Our fees come from our Partners and we are happy to send you a list of the fees you can expect to pay to them.As Expats ourselves, we have chosen these Partners as they have the experience that our clients deserve and they have the most competitive fees in The Netherlands.So in essence by choosing us to assist with your property purchase, it can be a financially sound idea as well as being one of the only Expat managed processes available in NL today.So here is the process from start to finish…..

Once you have decided on the property you wish to purchase, our Partners will compare similar houses/apartments in the locality, in a timely manner, to assess if the purchase price is correct.

Legal, Fiscal and Structural aspects:

 Check if there is a ground lease (erfpacht) or if the house is a listed building with restrictions.
 Check whether the municipality has any urban plans that may affect the resale price of your property.
 If you are purchasing an apartment they will research the obligations under the VVE (Vereniging van Eigenaren). This is simply explained as the Tenants Association for the apartment block you will be purchasing an apartment in. A monthly fee will be payable by each tenant to the VVE. They will assess the current fund available, the monthly costs and if there are any major renovations due to be carried out. This will ensure that you are not looking at a huge outlay once you have just moved in!
 If applicable (but always highly recommended) they will appoint a Building Surveyor to assess the current state of the building and any works that need immediate or long term attention. This can save thousands in hidden costs and can be used to reduce an initial offer using substantive evidence.
 They will then assist you in making the offer on the property.
(Please note that you may undertake the survey after an offer has been made in agreement with the sellers and any offer made may be revisited)

After the offer has been accepted they will :-

 Arrange for you and seller to sign a pre-sale agreement (koopovereenkomst, koopakte) or provisional (voorlopige) contract. This is similar to an exchange of contracts (UK) and will take place at the Notary. (They/we will be present for this)
 A selected notary (notaris) will hold the signed contract and a 10% deposit paid by the you. If you do not have the 10% deposit then a Guarantee can be arranged with the lender which will cost 0.1% of the property purchase.
The Guarantee will come into effect should you not be able to complete the house sale. We will talk you through this process when we meet.  We then approach our mortgage lenders and secure your mortgage. Please note you will need to be available to speak to the actual lender by phone so that they can ensure that they have followed Dutch lending regulations.
 You and seller will be invited to the Notary office (with us in attendance) to sign a completion contract (akte van levering). Keys are handed over. This will take place at the Notary.
Please note that you will need a certified translator under Dutch Law to be present at this stage.
 The Notary will then register the property transfer at the land registry office (kadaster) completing the process.

Please note that at the signing of the provisional contract you have a statutory right to cancel the sale contract within three days of signing it, without giving reasons (cooling off period). Our Partners can also request a right to cancel the contract with no loss to you if the financing (mortgage) is not agreed in general by 2 banks within 4 weeks.

We R Expats provide a dedicated Client Relations Director (Our Client Relations Directors’ are Expats) to assist you during the whole property buying process. We work with a team of Dutch experts who report into us and we account manage the whole process for you. Clients ask what we charge. Nothing! Our fees come from our Partners and we are happy to send you a list of the fees you can expect to pay to them.

As Expats ourselves, we have chosen these Partners as they have the experience that our clients deserve and they have the most competitive fees in The Netherlands.

So in essence by choosing us to assist with your property purchase, it can be a financially sound idea as well as being one of the only Expat managed processes available in NL today.

So here is the process from start to finish…..  Once you have decided on the property you wish to purchase, our Partners will compare similar houses/apartments in the locality, in a timely manner, to assess if the purchase price is correct,  Legal, Fiscal and Structural aspects:
 Check if there is a ground lease (erfpacht) or if the house is a listed building with restrictions.
 Check whether the municipality has any urban plans that may affect the resale price of your property.
 If you are purchasing an apartment they will research the obligations under the VVE (Vereniging van Eigenaren). This is simply explained as the Tenants Association for the apartment block you will be purchasing an apartment in. A monthly fee will be payable by each tenant to the VVE. They will assess the current fund available, the monthly costs and if there are any major renovations due to be carried out. This will ensure that you are not looking at a huge outlay once you have just moved in!
 If applicable (but always highly recommended) they will appoint a Building Surveyor to assess the current state of the building and any works that need immediate or long term attention. This can save thousands in hidden costs and can be used to reduce an initial offer using substantive evidence.
 They will then assist you in making the offer on the property.
(Please note that you may undertake the survey after an offer has been made in agreement with the sellers and any offer made may be revisited)

After the offer has been accepted they will :-  Arrange for you and seller to sign a pre-sale agreement (koopovereenkomst, koopakte) or provisional (voorlopige) contract. This is similar to an exchange of contracts (UK) and will take place at the Notary. (They/we will be present for this)
 A selected notary (notaris) will hold the signed contract and a 10% deposit paid by the you. If you do not have the 10% deposit then a Guarantee can be arranged with the lender which will cost 0.1% of the property purchase.
The Guarantee will come into effect should you not be able to complete the house sale. We will talk you through this process when we meet.  We then approach our mortgage lenders and secure your mortgage. Please note you will need to be available to speak to the actual lender by phone so that they can ensure that they have followed Dutch lending regulations.
 You and seller will be invited to the Notary office (with us in attendance) to sign a completion contract (akte van levering). Keys are handed over. This will take place at the Notary.
Please note that you will need a certified translator under Dutch Law to be present at this stage.
 The Notary will then register the property transfer at the land registry office (kadaster) completing the process.

Please note that at the signing of the provisional contract you have a statutory right to cancel the sale contract within three days of signing it, without giving reasons (cooling off period). Our Partners can also request a right to cancel the contract with no loss to you if the financing (mortgage) is not agreed in general by 2 banks within 4 weeks.

MORTGAGE PROCEDURE PREPARING MORTGAGE APLICATION

If required our Partners will help you obtain the most competitive mortgage quote through one of our Partner mortgage advisors. These will typically be one of the main banks here in The Netherlands. We R Expats does not give mortgage advice. Therefore, our Partners will need the following information from you:  Personal information:
 Copy of your passport
 Copy of your residence permit if applicable
 Mortgaged property information
 Copy of the purchase-agreement (getekende koopovereenkomst), signed by both parties
 Original valuation/appraisal report
 Financial position information
 Employer’s statement: A statement made by your employer confirming your annual income based on salary, bonuses and fringe benefits.
 Salary specification: Your monthly pay slip, which will correspond to the information given in your employer’s statement, and which will also show aspects such as the 30% ruling, expenses, payable taxes, etc.
 Statements of savings accounts or loans, investment portfolios and property owned inside and outside of the Netherlands. Statements of any debts you may have here or abroad.
 Confirmation of the tax department’s granting of the 30% ruling (if applicable).
 For ZZP’rs (Contractors): Last 3 annual tax reports and last 3 annual tax income declaration.
 Insurances:
 Life insurance
 Disability insurance (arbeidsongeschiktheidsverzekering) If offered through your contract of employment
 Unemployment insurance (Werkloosheid verzekering) if offered through your contract of employment
 Pension information: if you are 55 or older you need to prove that you have a pension in place to cover ongoing repayments after retirement.
Based on the information provided the lender will detail what you can borrow and what your repayments will be. Our Partners will also provide you with both Net and gross calculations as Mortgages in NL are subject to Tax relief.
 There will be a form for you to sign at this stage whereby you confirm that you have received advice from the lender. This is part of the Lenders compliance with Dutch financial regulations and there is a fee of €1000 for this part of the service payable to the lender upon completion. (Detailed in fee appendix below)

BANK ACCEPTANCE FROM MORTGAGE

Once the mortgage has been agreed the bank will send the relevant agreement to the Notary.

NOTARY

The Notary will then make a statement of completion “Nota van afrekening” when this is ready you and the sellers will be invited back to The Notary in order to sign the deed of purchase. We/Our Partner will be present during the signing. You will need a Certified translator at this meeting if you or your partner/spouse is not fluent in Dutch. This is a pre-requsite under Dutch law and the Notary can arrange this for you under instruction by us.

PROVISIONAL INCOME TAX RETURN ACTUAL YEAR

49% of fees paid for the purchase of a property are reclaimable and our tax expert will be able to assist with this. We offer the first years tax reclaim free of charge.

PROVISIONAL TAX RETURN NEXT YEAR

Our service doesn’t necessarily stop after the completion of the property. We also offer through our accountant the ability to prepare your provisional tax returns that’s will need to be made to the Belastingdienst for the years to come.

TAX BENEFIT:

• In 2019 there is a maximum of 49% that we can request as a refund by way of a tax deduction. This will show in your salary once the property; purchase has been completed.