The Notary & Closing Day
The final legal hurdle where you sign the deeds, get the keys, and pop the champagne.
The Bank Guarantee
A few weeks after signing the preliminary contract, you must deposit a 10% guarantee to the notary.
You can pay this from your own savings, or your mortgage provider can issue a Bank Guarantee for a small fee (usually around 1% of the guaranteed amount).
Notary Costs
As the buyer, you choose the notary (in most regions except Amsterdam ring where the seller chooses). You pay for the Transfer Deed (Leveringsakte) and the Mortgage Deed (Hypotheekakte).
The Final Bill (Nota van Afrekening)
A week before closing day, the notary will send you the final bill. This document reconciles EVERYTHING. It ensures the seller gets paid, the bank transfers the mortgage, and all taxes and fees are settled.
What's on the bill?
- Purchase Price: minus the 10% deposit you already paid.
- Transfer Tax (Overdrachtsbelasting): 2% of the price, unless you qualify for the exemption.
- Notary Fees: For drawing up both deeds.
- NHG Premium: If applicable (0.4%).
- Appraisal Costs: The bank requires a valuation report (approx. €700).
- Translation Fees: If you do not speak fluent Dutch, an official interpreter must be present at signing (approx. €300).
Note: Financing costs (Appraisal, Mortgage Notary Deed, NHG premium, Mortgage Advisor fees) are tax-deductible in the year you buy the home.
Closing Day
- Final Inspection: You meet the seller and agent at the house to verify it is in the agreed condition and check the utility meters.
- To the Notary: Everyone goes to the notary's office.
- Signing: The notary reads a summary of the deeds (in Dutch, translated by your interpreter). You sign the delivery deed and the mortgage deed.
- The Keys: The seller hands over the keys. The house is officially yours!