With contracts of sale of apartments, large interests and considerable amounts of money are involved. It is therefore crucial to properly record the agreements made. There is almost always something special about the sale of real estate. That is why it is important to draw up a good purchase contract. A purchase agreement for a home is usually very extensive and contains complicated clauses. Help from a lawyer for purchase contract apartment can be very useful. This can avoid expensive and time-consuming proceedings.
Written agreement and cooling-off period
If the buyer is not a professional party, the purchase of an apartment has to be in writing. Otherwise the agreement is considered not to have been effected. Furthermore, the buyer is always entitled to a three-day cooling-off period. This period starts on the following day after the buyer has received the purchase contract that has been signed by all parties. Within the three-day cooling-off period, the buyer can get out of the purchase without giving reasons and without being obliged to pay compensation. Only the costs of the notary or the estate agent for drawing up the purchase contract can be charged.
It is also possible that after the thee-day cooling-off period, the buyer of the apartment does not receive the financing for the purchase and therefore cannot pay the purchase price. For such cases, most purchase agreements contain a penalty clause of 10% of the purchase price if the agreement is terminated. However, the court can moderate such a payable contractual fine if the fine leads to an unacceptable result under the given circumstances.
For the buyer it is useful to include some cancellation clauses. For example the situation that you cannot get a mortgage. You may also want a clause that allows you to cancel or negotiate a lower price if the home inspection gave errors.
Lawyer in the Netherlands for purchase contracts for real estate
As contract lawyer in the Netherlands, Lisa Jie Sam Foek, is experienced in drawing up purchase contracts for real estate and in litigating on those contracts. If you want to purchase or sale an apartment and require legal advice from a lawyer specialized in contracts, Lisa, Dutch contract lawyer, will be pleased to help you.