Buying your new home with Minke Makelaardij’s help

 

I’ll gladly help you find and buy a dream home within your budget. Think of me as your go-to expert on all matters housing-related! For example, whatever you want to know about the neighbourhood where a property is located, what the state of its foundations is like, whether the price is right, or how to arrange financing.

 

First and foremost, it’s vital that I understand what you want, but also what you don’t want. Once I’ve got a clear picture, I can target exactly what you’re looking for.

7 steps to buying your new home

 

7 steps to buying your new home …

 

1 Identifying your requirements

 

2 Viewing properties

 

3 Evaluating properties

 

4 Bidding & negotiating

 

5 Drafting a purchase agreement

 

6 Transferring ownership

 

7 Taking possession
Mickey voor een huis dat ze net heeft aangekocht met een bord van Minke Makelaardij op het raam
Stap 1 Aankoopproces - 1 Inventarisatie van jouw woonwens

1 Identifying your requirements

 

We start by making a list of all your wishes and requirements. For example, what sort of home are you looking for? Old, modern, garden or no garden, for how many people, and so on and so forth. And we’ll determine and discuss which properties in which neighbourhoods would be a match.

 

Next, I’ll help you find and evaluate any suitable properties on the market, using the Copaan search tool. Copaan is a smart search system that takes into account all your requirements and priorities to find the best matches. It sends daily updates of new properties, often a day or so before they come on to the market.

2 Viewing properties

It’s important to arrange a viewing as quickly as possible once a property has caught your eye. It’s good to know that if the selling agent says viewings are already fully booked, I can often intervene and get the agent to squeeze you in any way!

 

We’ll go to the viewing together where I’ll teach you how to evaluate properties in general and keep a sharp eye out for any structural, legal or financial issues/pitfalls.

Illustratie bij stap 2 Aankoopproces - Woning bezichtigen
Illustratie bij Stap 3 Aankoopproces - Onderzoek en evaluatie

3 Evaluating properties

 

Once we’ve viewed a property together, we’ll evaluate all its pros and cons. I’ll assess the property’s value and the options open to you in terms of relevant negotiation strategies and resolutive conditions.

4 Bidding & negotiating

 

If you decide to proceed with a bid, I’ll gather all the information we’ll need for the bidding process and act on your behalf in all negotiations with the seller. But ultimately it’s you who decides whether to actually proceed with the purchase.

Illustratie bij Stap 4 Aankoopproces - Bieden en onderhandelen
Illustratie bij stap 5 Aankoopproces - De koopovereenkomst

5 Drafting a purchase agreement

Once all parties have reached a verbal agreement, the selling agent drafts a purchase agreement. Because the selling agent represents the seller’s interests, it’s vital that we scrutinise each clause together and identify any potential structural, technical or legal pitfalls.

 

After all, it’s my job to represent your interests! You’ll know exactly what you’re signing for and if there are any potential consequences.

 

Next, it’s time for you to arrange financing within the predetermined period.

6 Transferring ownership

A final inspection takes place before you actually sign the papers at the civil law notary’s. I’ll accompany you to make sure everything is in the state as agreed in the purchase deed. If this isn’t the case, I’ll advise you how to proceed.

 

If everything is as it should be, then I’ll accompany you to the civil law notary’s where you’ll sign the title deed and take possession of the keys to the property.

Illustratie bij Stap 6 Aankoopproces - Oplevering
Illustratie bij stap 7 van het aankoopproces - De overdracht

7 Taking possession

 

The finish line’s in sight! The civil law notary reads the official documents out loud (with or without the assistance of a sworn interpreter) and asks both parties to sign the title deed. The seller then hands you the keys to the property as its new owner.

 

It’s official – it’s now your home!

Frequently asked questions – FAQs

 

Minke accompanies and advises you throughout the entire purchase process, allowing you to focus on the fun side of buying your new home –
total peace of mind!

 

Nonetheless, you may still have questions about buying a home.
No worries – that’s why I’ve listed the most frequently asked questions below,
along with their answers!

Why Minke Makelaardij?

Minke knows Rotterdam and its surrounding areas like the back of her hand. After all, she’s a Rotterdammer born and bred and has years of experience as an estate agent and valuer throughout the region. As a real estate expert, she can evaluate any property on the market quickly and accurately.

What should I pay attention to on the first viewing?

All you have to do is decide whether a particular property is your ‘dream home’. If so, Minke will accompany you on a second viewing to determine whether it meets all your requirements, what its current value is and how to arrange financing.

So, how do other clients rate Minke as a buying agent?

Follow this link to Minke Makelaardij’s reviews on the Funda website to find out what clients are saying about Minke.

So, what does a buying agent do exactly?

You can enlist the services of a buying agent to help you find your dream home. Or perhaps you’ve already spotted a property and are about to make the biggest buying decision of your life. Either way, Minke will help make the process as smooth as possible.

How can a buying agent save me money?

Minke knows how to negotiate a better deal for you because she’s familiar with all the options in advance, for example everything you need to know about civil law notary rates and mortgage advisers.

 

She’ll save you a lot of time and money because she’ll also narrow down the number of viewings and do much of the legwork for you.

 

And because Minke informs you fully about everything you need to know, she can steer you around all the pitfalls that would otherwise cost you an arm and a leg.

If I bid a property’s asking price, is the seller obliged to sell to me?

No, the seller isn’t obliged to sell the property to you. The Dutch Supreme Court has ruled that the asking price should be viewed merely as an invitation to make a bid. Even if you bid the asking price, the seller may decide to reject your bid or make a counter-bid directly or through their selling agent.

Is a selling agent allowed to ask an exorbitant or unrealistically high price for a property?

Yes, this is allowed. The seller determines the price they want to sell their property for in consultation with their estate agent. You can negotiate your price, but the seller ultimately decides. That’s why it’s important to determine the property’s correct value with Minke in advance.

Is the seller allowed to alter their asking price while still in negotiations?

Yes, the seller is allowed to raise or lower their asking price. What’s more, you also have the right as a prospective buyer to lower your bid during negotiations. Your previous bids are void once the seller issues a counter-bid.

Is a selling agent obliged to enter into negotiations with me if I’m the first to make a viewing appointment? Or if I’m the first to make a bid?

No, this isn’t the case. The seller determines in consultation with their selling agent who they want to negotiate with.

Is the selling agent allowed to change the sale method while still in negotiations?

Yes, this is also allowed. Sometimes, there are so many bidders offering the asking price, or thereabouts, that it’s difficult for the seller to determine who’s the most suitable buyer.

 

In such a case, the seller may decide to alter the bidding procedure (if recommended to do so by their selling agent), for example by setting up a registration procedure [Dutch: inschrijvingsprocedure]. This involves giving all bidders a fair and equal opportunity to submit a bid.

 

Minke has a lot of experience in this area and can advise you and respond quickly and expertly.

I’m looking for a 'fixer-upper'. Can Minke help?

Minke has a lot of experience with fixer-uppers and also knows where to find them.

 

Fixer-uppers involve making a detailed estimate of the renovation costs, as well as your financing options. Minke knows everything you’ll need to take into consideration.

How can Minke help me find a property?

If you don’t know your way around Rotterdam that well, Minke can take you on a guided tour through its neighbourhoods. But if you already know more or less where you want to live, then she can help you evaluate the properties you’ve found on Funda.

Can I, as a buyer, expect any advice from the selling agent?

The selling agent represents the seller’s interests and advises them throughout the sales process. This is why they cannot and may not simultaneously represent your interests.

 

If you need advice, then it’s advisable to enlist Minke’s services as a buying agent. That way you know someone has your interests at heart.

Can I go for a first viewing on my own?

Yes, for sure! First impressions are important, and if you really like a property, just let Minke know and she’ll accompany you on a second viewing.

 

Afterwards, she’ll tell you all your options and determine how best to proceed.

Are there properties for sale that aren’t posted on Funda?

Yes, but not that many. Virtually every seller benefits from having as many potential buyers find their property on Funda in order to get the highest possible price. There may, however, be a reason why a property is put up for sale before being placed on Funda.

 

Because Minke maintains excellent business relations with her fellow estate agents, she can react quickly on your behalf to get you to the front of the queue on such occasions.

Is a selling agent allowed to continue showing the property at the same time as negotiating a bid?

Yes, this is allowed. Negotiations don’t necessarily result in a sale. What’s more, the seller probably wants to gauge whether there’s broader interest for their property. And it’s also permissible for the seller to enter into negotiations with more than one prospective buyer at the same time. However, NVM estate agents are obliged to make this known to all parties involved.

 

Often, selling agents will inform you that the seller has already received a bid or is already in negotiations. As a prospective buyer, you’re allowed to make a bid, but the selling agent will only enter into negotiations with you once ongoing negotiations have come to an end.

 

The estate agent isn’t allowed to provide any information about bid amounts, as this could elicit a bidding war.

What does a buying agent charge?

Minke provides her services for a fixed brokerage fee of € 4.200,- for property purchase prices up to € 400.000,-.

For properties over € 400.000,- (askingprice) I charge the same fixed fee of € 4.200,- plus a 0,5% brokerage fee over the amount above € 500.000,- (askingprice). If I succeed in negotiating a purchase price below the asking price, then I calculate the surcharge with respect to the purchase price.

After your first meeting, Minke will provide a quotation with absolutely no strings attached. It’s then up to you whether you enlist her services or not.

If I’m buying a property, do I need a buying agent or a selling agent?

An NVM estate agent may never represent both parties to a transaction. This would constitute a conflict of interests. Compare this to two individuals involved in a legal dispute who both hire the same lawyer! This applies to estate agents, too.

 

The selling agent represents the seller’s interests, which is why it’s impossible for them to advise you impartially about purchasing a property. And vice versa.

 

If you end up enlisting the services of an estate agent to help you buy or sell a property, then you refer to them as either the ‘buying agent’ or ‘selling agent’ respectively.  As a buying agent, Minke has your best interests at heart.

What’s the process running up to actual purchase?

Once you and the seller are in agreement about the main points, the selling agent then drafts a purchase agreement [Dutch: koopovereenkomst]. Only once both parties have signed the purchase agreement is the sale effected.

 

An important issue for consideration is the question of ‘resolutive conditions’ [Dutch: ontbindende voorwaarden]. If you want to include such conditions in the purchase agreement, then you have to make these known during negotiations. As a buyer, you’re not automatically entitled to include a resolutive condition.

 

Both you and the seller must agree to any additional provisions and resolutive conditions before the selling agent drafts the purchase agreement. The sale is only effected once this has been signed by both parties. This is referred to as a ‘requirement to lay something down in writing’ [Dutch: schriftelijkheidsvereiste].

 

Your statutory three-day cool off period also commences once you and the seller have both signed, and you’ve received, a copy of the purchase agreement. During the cool-off period, you’re entitled to cancel the purchase. Once the three days have passed, the sale is definitive, unless resolutive conditions apply.

I see ‘kosten koper’ (k.k.) next to properties’ prices, what does this mean?

Purchasing costs payable by the buyer [Dutch: kosten koper (k.k.)] include transfer tax (currently 2%) and the civil law notary’s fees.

 

Other possible costs payable by you as the buyer may include any mortgage advice/assistance, structural survey and buying agent costs.

Can my buying agent also arrange a mortgage for me?

It’s common practice to take out a mortgage to finance the purchase of a property. You should start investigating your options with a reputable mortgage adviser early on.

 

Minke can recommend several independent parties who besides mortgage advice can help you with pension accrual and wealth creation. One less concern!