Winning the Bidding War
The most stressful 48 hours of your life. Make sure you bid smart, not just high.
Overbidding is (usually) the norm
The "asking price" on Funda is often just a starting point designed to attract as many people to the open house as possible. The actual market value is often higher, and winning bids can be anywhere from 5% to 15% over the asking price depending on the city.
The Golden Rule of Overbidding
You can only get a mortgage for 100% of the APPRAISED market value, not your bid amount. If you bid €450k on a house that appraisers value at €400k, you must pay the €50k difference out of your own pocket.
The "Ontbindende Voorwaarden" (Resolutive Conditions)
Your bid is not just a number. It is a package. A lower bid with fewer conditions can sometimes beat a higher bid with many conditions.
1. Subject to Financing (Voorbehoud van financiering)
You state that the deal is off if you cannot secure the mortgage within X weeks (usually 4-6 weeks). This is essential unless you are paying in cash or have a massive safety net.
2. Subject to Building Inspection (Bouwkundige keuring)
You state the deal is off if the structural inspection reveals necessary immediate repairs exceeding a certain amount (e.g., €5,000). Highly recommended for older houses.
The Cooling-Off Period
Once your bid is accepted and you sign the preliminary purchase agreement (koopovereenkomst), the clock starts on your 3-day statutory cooling-off period (wettelijke bedenktijd).
- You can cancel the agreement within these 3 days for any reason, without penalty.
- The 3 days start at 00:00 on the day after you receive the signed contract.
- At least 2 of the 3 days must be working days (not weekends or national holidays).