Question 1

What does “costs payable by the buyer” (k.k.) mean?

Accepted Answer

You’ve probably noticed that the term “k.k.” appears in the listings for almost all homes (except new construction). This abbreviation stands for “kosten koper” (buyer’s costs). This means that the additional costs associated with the transfer of ownership must be paid by the buyer. On average, “buyer’s costs” amount to about 5% of the purchase price, so be sure to factor that in when searching for a home in Amsterdam!

Question 2

What does it mean to be “underbid”?

Accepted Answer

If the real estate agent indicates that the property is “under offer,” this means they have a serious buyer for the house. Viewings can still be scheduled, but the agent must clearly state that the property is “under offer.”

Question 3

What is a point system?

Accepted Answer

The points system (Housing Valuation System, WWS) determines the maximum rent for a dwelling based on points assigned for factors such as floor area, amenities, and energy efficiency rating. Since the Affordable Rent Act (July 2024) took effect, this system applies not only to public housing but also to mid-range rental housing. Only for properties with 187 points or more (private sector) is there no maximum rent, and the landlord and tenant determine the price themselves.

Question 4

What does “key money” mean?

Accepted Answer

A key fee is money that the landlord demands from the new tenant before allowing them to move into the property. Outgoing tenants sometimes also ask for money in exchange for the keys to the house. Charging a key fee is not permitted by law. Requiring a key fee constitutes an unreasonable clause in the lease agreement. 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 have paid a key fee anyway, you can seek a refund through the courts. You must, however, prove that it was paid, for example, with a receipt or through witnesses (who are not family members).

Question 5

Is the appraisal report also accepted by the National Mortgage Guarantee (NHG)?

Accepted Answer

Absolutely! A validated appraisal report prepared by an MVA/NVM appraiser meets all the requirements set by the National Mortgage Guarantee for purchases or (re)financing.

Frequently Asked Questions

Questions and Answers About Buying or Renting a Property in the Greater Amsterdam Area

Glossary