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FREQUENTLY ASKED QUESTIONS
Buying a home in Amsterdam is an exciting endeavor. Chances are you have questions about the process and may not be completely at home with the jargon. Below we've collected some frequently asked questions for you along with their answers.
QUESTIONS AND ANSWERS WHEN BUYING A HOUSE IN AMSTERDAM REGION
For both individuals and businesses, we have a comprehensive page of frequently asked questions. Choose your route below.
5 most frequently asked questions
These are the 5 most frequently asked questions on our website by home seekers.
What does "cost of buyer" (k.k.) mean?
You will probably have noticed that on almost all houses (except new construction), the term k.k. is mentioned. This abbreviation stands for "buyer's costs. It means that the extra costs that come with the transfer must be paid by the buyer. On average, 'kosten koper' is about 5% of the purchase price, so take this into account in your search for a house in Amsterdam. A mortgage broker can help you find out how much you can borrow.
What does being "under bid" mean?
If the real estate agent indicates that he is 'under offer', it means that he has a serious candidate for the house. Viewings can still be scheduled, but the real estate agent must clearly indicate that the home is "under offer.
What does a point system mean in renting?
The point system determines the maximum rent of a social rented house. The point system does not apply to rental housing in the free sector. In these houses, the landlord and tenant determine the rent themselves. There is no maximum rent.
What is the meaning of key money?
Key money is money that the landlord charges the new tenant before allowing them to enter the property. Departing tenants also sometimes ask for money in exchange for the key to the house. Asking for key money is not allowed by law. Asking for key money is an unreasonable clause in the lease. It gives one of the parties (in this case, the landlord) or a third party (in this case, the departing tenant) an unreasonable advantage.
If you did pay key money, you can recover it through the courts. You have to prove that it was paid, for example with a receipt or through witnesses (not family members).
Is the appraisal report also accepted by National Mortgage Guarantee (NHG)?
Yes! A validated appraisal report prepared by an MVA/NVM appraiser meets all the requirements set by the National Mortgage Guarantee for purchase or (re)financing.