The koopovereenkomst turns the negotiated deal into contractual obligations. For a private consumer buying a home, Dutch law then provides a minimum three-day cooling-off period. After that, the contractual conditions and deadlines become critical.
The three-day cooling-off period
The period starts on the day after you receive the signed purchase agreement. At least two of the three days must not be a Saturday, Sunday or recognised public holiday, so the end date can move. During the valid cooling-off period you can withdraw without giving a reason or paying compensation. A longer period can be agreed; the statutory period cannot simply be shortened.
Read these clauses carefully
- Purchase price and what is included.
- Transfer date.
- Financing and inspection conditions and their expiry dates.
- Deposit/bank guarantee arrangements.
- Penalty/default provisions.
- Known defects and seller disclosures.
- List of movable items.
- Special clauses, such as age, non-occupancy, asbestos or other property-specific wording.
Vormerkung: registering the purchase agreement
A signed purchase agreement can be registered at the Kadaster. Kadaster explains that this can protect the buyer for six months against certain later events involving the seller, such as a later sale to a higher bidder, seller bankruptcy or later attachment. Ask the notary whether registration is appropriate in your transaction.