Notary & Handover
The cooling-off period is over, financing is secured, and it's time for the official transfer of ownership.
The Cooling-Off Period (Bedenktijd)
Once both you and the buyer sign the Koopovereenkomst (Purchase Agreement), the buyer gets a mandatory 3-day statutory cooling-off period. During these three days, the buyer can cancel the purchase without giving any reason and without penalty.
As the seller, you do not have a cooling-off period. Once you sign, you are committed.
The Bank Guarantee / Deposit (Waarborgsom)
Typically within 4-6 weeks of signing, the buyer must deposit 10% of the purchase price into the Notary's escrow account (or provide a bank guarantee).
If the buyer fails to secure financing (assuming they had a financing clause) before the agreed date, the deal is canceled. If they back out after the financing clause expires, or if they simply refuse to buy without a valid legal reason, you are entitled to keep this 10% deposit as compensation.
The Final Inspection (Schouw)
On the day of the transfer (or the day before), the buyer, their agent, and your agent will walk through the empty house.
- They check that the house is delivered in the agreed-upon state (empty, clean, no new damage).
- They verify that everything on the Lijst van Zaken (List of Movable Goods) that was supposed to stay is actually there.
- You record the final meter readings for water, electricity, and gas together on a specific form.
The Notary Appointment (Passeren)
After the successful inspection, everyone heads to the Notary's office. Unlike the buying side, the seller's notary costs are virtually zero. In the Netherlands, the buyer chooses and pays for the notary (Kosten Koper).
The Final Settlement (Nota van Afrekening)
Days before the transfer, you receive this statement from the notary detailing exactly how much money you will receive. It calculates:
- The purchase price.
- Minus the repayment of your existing mortgage to your bank.
- Minus the selling agent's commission (which the notary pays out directly).
- Plus/Minus prorated municipal taxes (WOZ) and water board taxes.
You sign the Deed of Transfer (Leveringsakte). The notary registers it with the Kadaster (Land Registry). The remaining profit (overwaarde) is transferred to your bank account usually the next business day. Congratulations, you've successfully sold your home!