NVM Purchase Act (‘Koopakte’ – model 2018) simply explained

In principle, the deed of purchase is a very clear contract. This is because it is a standard model agreement in which only matters are changed or entered. This is done in a different font, or is credited or deleted. The deed of sale protects the rights of both buyer and seller. Important to know: the basis of every purchase agreement is the same almost everywhere. Each purchase agreement therefore contains articles 1 to 20. Let’s cycle through the articles.

Page 1
The details of buyer and seller are on the 1st page. Check your own details carefully. It is important that these are all correct.

Article 1
Here you can read which home address has been sold.

Then it is how this address is known cadastral. For example Section A number 1234

The following is the area of ​​the entire plot. 1 hectare is 10,000 m2 and 1 are 100 m2 and 1 centiare is 1 m2. A house with a plot of 10210 m2 is therefore 1 hectare, 2 are and 10 centiare.

And then, not unimportantly, the purchase price.

Article 2
1. To start with, it states who the costs are. They are almost always for the buyer. You almost always buy an existing home “buyer costs”.

2. Next, it is stated who may appoint the notary. In most cases this is the buyer, but that is just how you agreed.

Article 2.2
If the house has been changed from previous owner for less than 6 months, the tax authorities will refund the previous transfer tax. The standard is that you agree that the seller is entitled to this money (because he paid it at the time). However, the transfer tax that is returned is settled by the tax authorities against the transfer tax that the buyer must pay. The tax authorities therefore pay the previous transfer tax to the buyer, while the seller is actually entitled to it. That is why this article states that the buyer pays the “difference” so the benefit that he then receives from the tax authorities to the seller.

Article 3
All cash flows go through the notary and the notary temporarily manages these funds in a special “third-party account”. The notary will only transfer the purchase price to the seller if the house is registered in the name of the buyer (this is arranged by the notary) and is free of mortgages, registrations and attachments. The deposit – 10% of the purchase price – that the buyer pays in advance, is of course settled by the notary in the final settlement, just like all other costs that must be settled, such as the notary fees themselves, the municipal taxes etc.

Article 4
This states on which date the key transfer is at the notary. It also states that this date may be changed if the buyer and seller agree with mutual consent.

Article 5
The buyer must pay a deposit. He may also do this through a bank guarantee. This is usually 4 to 6 weeks after the signing of the purchase agreement or just how you agreed. The amount is usually 10% of the purchase price. This deposit/bank guarantee is a stick for when the buyer does not purchase the property. But we will come back to that later in Article 11.

Article 6
Article 6.1
Is an item that is specifically aimed at the buyer. It actually tells the buyer that it is his responsibility to know what he is buying. He signs that the property will be transferred to the state in which it is currently located. But also with all rights, claims, easements, qualitative rights and defects that go with it.

Consider, for example, the right of way that your yard must grant to a neighbour, a qualitative obligation not to paint your window frames in a different colour, pipes of utility companies that run under your yard, etc. The buyer can all read this in the proof of ownership (deed of delivery) of the seller and the cadastral extract. As a buyer you must have received all this documentation from the seller in order to read it carefully and to know what you are buying.

Article 6.3
This article is about the fact that the property sold during the key transfer “for normal use” must be suitable. The toilets must flush properly, the hot water and the heating must do it and there must not be any serious leaks.

Except for all goods that are not good, but that were already made known to the buyer during the purchase. If you buy a DIY house where nothing works properly anymore, the sales broker will make this clear to you in the sales brochure and during the viewing.

Article 6.4
The seller declares that it is or is not known to him whether there is contamination in the home, asbestos, old underground oil tanks in the garden, or that the soil is contaminated or that there are decisions that require the soil to be cleaned up.

Article 6.5
Just before parties go to the notary for the key transfer, the buyer has the right to inspect the property. This actually always happens.

Article 6.6
The seller guarantees that there are no improvements or repair cases imposed by the government on the property. For example if the situation has seriously subsided and the government has made a letter to the owner to take action on this.

Article 6.7
Is the property a (national) monument or a protected town or village view, then that is stated here. It is important to remember that in such cases you may not always be able to make changes to the home easily.

Article 6.8
The seller declares that he has not promised to sell the property to anyone else or that he may be required to do so. For example, because he has given a purchase option to the neighbour.

Article 6.9
The seller also declares that he should NOT have offered his home for sale to the municipality first. For example, because the municipality has plans for the land.

Article 6.10
If there are tenants in the home, it may be that they may remove things from the home if they leave them. For example a kitchen block or a shower head.

Article 6.11
This includes that if the buyer understood during the purchase that the home is 100 m2, for example, and this is actually 90 m2, that the purchaser may derive rights from the apparently smaller surface area and demand money from the seller. however, the seller excludes liability here.

Please note: this article does not stand in practice. Case law teaches us that in such cases, the buyer can often successfully claim substantial compensation from the seller or his broker, despite this article!

Sellers note: measure the property carefully in accordance with the NEN2580 measurement instruction or be careful when you mention surfaces!

Article 6.12
If ground lease applies, the seller will always declare that he has paid his annual ground rent for this.

Article 6.13
If the seller indicates that it is not known to him, for example, that there is asbestos in the home and this appears to be there, then the seller can still be held liable for this. This is, among other things, the reason that at the end of the deed of sale there are a lot of clauses (such as the asbestos clause) that exclude this liability.

Article 7
Article 7.1
The ownership of the property actually transfers when the keys are handed over. You usually do this at the notary during the legal transfer of ownership. If there are still tenants or installations that are rented/leased in the home, this must be stated in this article.

Article 7.2
The property is neatly vacated and vacated upon transfer, except for all matters with which the parties in the “List of Affairs” have agreed that they will be left behind (eg curtains, wardrobe, refrigerator, etc.).

Article 7.3
If the purchase agreement has been signed, the seller may not simply place tenants in the home or enter into lease contracts for the home. Unless he has received permission from the buyer.

Article 7.4
It may well be that the seller still has guarantees on things in the home. Maybe guarantees on the new extension, the new dishwasher, the floor insulation etc. All these guarantees are transferred to the buyer. It is important that the seller leaves all guarantee booklets and preferably also all the documentation that he has of this type of goods in the home for the buyer.

Article 8
This article actually says that from the day of the key transfer, the buyer is responsible for municipal taxes, ground lease and other taxes. The notary will calculate all of this to the cent exactly and settle it on the bill of settlement that the buyer receives and must pay.

Article 9
You often buy or sell something together with your partner. This article regulates that after putting the signature you have authorized each other to fulfil the rights and obligations under the agreement. You are bound together, but also individually, to comply with all agreements under this agreement. In short, you are each jointly and severally liable.

An example: if you buy a house together and part one week later, the seller can demand compliance with the purchase from each of you.

Article 10
Until the time of the transfer of ownership, the sellers are responsible for all risks and damage that may occur to the property. From a broken dishwasher to a fallen tree on the house. If the house is completely lost due to a fire, for example, the purchase agreement will be dissolved. From the moment of the key transfer, the buyers are responsible.

Note: make sure that you as a buyer have taken out a home insurance policy starting at the time that the key transfer takes place. You can arrange this well in advance. For sellers, it is very important to keep the property insured up to and including the day of ownership transfer.

The sellers must repair/replace all damage that takes place at or in the home (for example, that broken dishwasher). As a buyer, it is important to inspect the property properly during the inspection (just before you go to the notary). If things do not seem to be in order, report this in writing to the selling broker.

Article 11
This article provides on pain of a substantial fine that the parties fulfill their duties.

As a seller you actually have 1 main obligation and that is “delivery”. You must deliver your property at the agreed time of the key transfer.

As a buyer you have 2 main duties and that is:

  1. take the home, and
  2. pay.

If you do not fulfil your obligation, the other party has the right to demand a substantial amount of money (namely 10% of the purchase price) from you. The seller will soon have that very nice stick behind the door, because according to Article 5, the buyer has to deposit 10% (or bank guarantee) at the notary. If you do not purchase as a buyer, then you have lost a considerable sum of money.

Article 12
The purchase agreement and all important correspondence are deposited with the notary at the office. If the other party is difficult to reach, you can always reach them legally through the notary.

Article 13
Parties can choose to register this purchase in the land register. In practice, the choice for this is presented to the buyer. This costs money (around € 150 to € 200) and these costs are almost always for the buyer.

Why would you do this? By registering the purchase in the public registers, other parties who request information about the property can see that it has been sold. This provides protection for the buyer if, for example, the seller:

  • has financial problems and/or goes bankrupt
  • rents the property (the tenant has no rights with the buyer)
  • sell the property to someone else and/or transfer it
  • has a legal conflict

A registration can be for a maximum of 6 months.

Article 14
Buying or selling a home is a big deal. Parties must be able to identify themselves to each other if a party requests it. At the notary it is always required to identify yourself.

Article 15
Concerns the resolutive conditions.

The financing reservation
The best known is of course the financing reservation. If this applies, the amount that the buyer must pass in order to obtain financing is stated, as well as the period within which he must be able to arrange this.

Pay attention to sellers: in practice it often happens that the buyer needs just a little more time. He then asks in writing (via his broker) just a few days or an extra week to complete the financing. If the buyer does not receive the financing, he must prove this by demonstrating at least 1 rejection of a recognized financial institution to the selling party. He can, if he changes his mind, he can not throw it on the financing reservation.

The structural inspection
A structural inspector draws up a report of the house, reports the defects, points for improvement and points for attention and also mentions the repair costs that must be incurred immediately for the necessary maintenance & repair of these defects. It is customary to agree on an amount of an amount for the direct repair costs of the home. If the amount from the report turns out to be higher than this amount, the buyers may cancel the purchase. It may also be that further specialist research is needed. You often see this on floors where an inspector suspects that the beams are rotten or that there is mold/woodworm/boktor in the floor. The inspector often recommends “destructive testing” (i.e. putting a saw in the floor). If this is the case, it can also be dissolved.

If disappointing costs come to light, then in practice it is often the case that negotiations still take place between parties to have the seller contribute to these costs. This so that there is no need to dissolve.

Article 16
The buyer has a legal cooling-off period. If the buyer is a company, the cooling-off period is not legally required, but only an option if the parties so agree.

Article 17
An oral sale is not yet legally valid when it concerns a home. The purchase is only a fact when both parties have signed the purchase agreement. Signing often does not happen at the same time. If it does not happen at the same time, the selling party always signs first. If the buyer receives the purchase contract signed by the sellers, he must sign in time. This must usually be done within the 5th working day after the seller has signed.

Article 18
Dutch law applies.

Article 19
Here is all the documentation that the buyer has received. This usually consists of at least:

  • deed of delivery (the ownership deed)
  • questionnaire B
  • energy label
  • list of things
  • measurement report
  • cadastral extract
  • cadastral map
  • WOZ decision
  • sales brochure

Note buyer: make sure you have read all this documentation very well. Know what you are buying, what rights and qualitative obligations are attached to this, what is and what is not sold with it, and what the sellers in the questionnaire have all told you as a buyer.

Article 20
Further agreements between buyer and seller can be stated here. These can be all kinds of agreements. For example, the seller demolishes and removes the old shed from the garden.

Article 21 and further – The Clauses
From clause 21 all clauses are mentioned. The seller often covers himself against:

  • asbestos
  • soil pollution
  • defects in the foundation
  • the age of the home and the consequences thereof
  • objections from the buyer that he has not been given full scope for his obligation to investigate
  • differences in the actual size and the measurement report (even though this is difficult to hold in court)
  • changing groundwater levels (in connection with plague)
  • the fact that he himself did not live there (for example with regard to inheritance issues)
  • the fact that the buyer must live there himself and may not rent it out (own occupancy clause)

Confirmation of receipt
At the end of the purchase contract there is an acknowledgment of receipt which buyer must fill in and sign. This controls the moment from which the reflection time starts.

List of things The deed of sale usually also includes a list of matters that both parties must sign.

Leave a Reply

Your email address will not be published. Required fields are marked *