What is the process of buying a house in Amsterdam?

What you need to know about the buying process

Buying a home in Amsterdam is an exciting and complex undertaking. The housing market is competitive and it is important to be well prepared. However, with the right guidance, you can ensure a smooth process. A buying agent plays a crucial role in this process. In this blog, we take you step by step through the buying process and explain how a real estate agent supports you.

Step by step - the timeline of purchase

• Finding a certified broker - A good broker will guide you through the entire process. With a certified MVA broker, you choose reliability and expertise. Find your MVA broker here.

• Orientation and mortgage advice - Calculate your maximum mortgage and discuss your options with a financial advisor.

• Searches and viewings - In consultation with your real estate agent you agree on how much they will do for you. Do you want to search for properties yourself? Or do you want your broker to help you? You will make clear agreements in advance.

• Bidding and negotiating - This is where the added value of a certified real estate agent really comes to the fore. To make a strategic offer, you need market knowledge and experience. The MVA real estate agent will help you bid on your dream home.

• Reservation of financing - To limit risks, it is wise to include a reservation of financing in the deed of sale. This allows you to abandon the purchase without penalty if you don't get the mortgage within the agreed period (usually 4 to 6 weeks).

• Purchase deed and reflection period - At this stage, you sign the purchase deed and once the legal reflection period is over and a bank has given you a mortgage, the house is yours. Your real estate agent will read along and guide you.

• Mortgage finalization and notary - Your mortgage advisor arranges the mortgage and the notary arranges the legal transfer. Again, your broker reads along and gives advice.

• Completion and key transfer - Your MVA broker and you inspect the home at the final inspection and you receive the keys.

1. Finding a certified real estate agent

Before you begin your search, it is important to find a certified real estate agent to guide you through the process. A real estate agent is essential for navigating the complex housing market in Amsterdam. They have extensive knowledge of the local market, are aware of current demand and offer advice on the best strategies for finding a home.

A certified MVA real estate agent can help you find the right home, negotiate the price and advise on legal matters. It is important to choose a real estate agent you trust and who has a good understanding of what you are looking for in a home.

2. Orientation and mortgage advice.

Once you've found a real estate agent, it's time to get your bearings. It is important to properly assess your financial options. This means talking to a mortgage broker to determine how much you can borrow and what your monthly costs will be. A real estate agent can also refer you to reliable mortgage brokers so you can begin your search well prepared.

With your budget clearly in mind, your real estate agent can help you find homes that are within your financial reach. This ensures that you won't be disappointed if you find a home that ends up being too expensive.

3. Search and viewings

Now that your finances are in order, the search for your dream home begins! The supply in Amsterdam can be overwhelming, but a real estate agent will help you find homes that meet your needs and fit within your budget.

When scheduling viewings, the broker will guide you through the home and point out things you may not notice yourself, such as possible hidden defects or legal complications. This not only saves you time, but also prevents unpleasant surprises.

4. Bidding and negotiating

Have you found your dream home? Then it's time to make an offer. In a market like Amsterdam's, you may have to outbid to increase your chances. An experienced buying agent knows exactly how this works and will help you determine a strategic offer.

The real estate agent negotiates on your behalf and in consultation with you. They use their knowledge of the market and the home to place an offer that is realistic, but also attractive to the seller. This increases your chances of securing the home.

Building inspection - always do it!

We always recommend having a structural inspection, especially for older homes. This prevents unexpected costs due to hidden defects. It is wise to include the cost of the inspection in your financial planning. Some mortgage lenders require an architectural inspection if the home is older than a certain number of years.

A buying agent can advise you on this as well. They can refer you to reliable construction experts and ensure that the inspection takes place at a time that does not delay the process. Moreover, the real estate agent will include any defects in the negotiations, so you will not be faced with unexpected costs after the purchase.

5. Reservation of financing and deed of sale

When your offer is accepted, the deed of sale is drawn up. In consultation with your mortgage advisor is determined what is feasible. The mortgage advisor will advise you whether or not financing is required. Financing reservation means that you can cancel the purchase if you do not get the mortgage, this protects you against financial risk.

The real estate agent plays a crucial role in this step by ensuring that the deed of sale is properly drafted and that the caveats are included correctly. They make sure you have the right resolutive conditions, such as the caveat of financing, so that in case of problems with financing, you can abandon the purchase without consequences.

6. Getting a mortgage and notary

After signing the purchase deed, the process of arranging the mortgage begins. The real estate agent remains your support at this stage and makes sure that all the necessary documents get to the bank on time. They can help you coordinate with the notary so that everything goes according to plan.

The notary will prepare the deed of delivery and the mortgage deed, and the transfer of the property will be prepared. A real estate agent will review the draft deeds from the notary and guide you through this process. Your broker will keep you informed of the progress and ensure that there are no delays in completing the financing.

7. Completion and key transfer

On the day of the key exchange and final inspection, you are finally ready to take possession of your new home. The real estate agent will help you make the final inspection, where you will inspect the home together to make sure everything has been done as agreed. This is also the time to check for any defects that need to be fixed before the final transfer.

If there are problems, the broker can negotiate with the seller to resolve them. Once everything is in order, you will receive the keys to your new home and you will officially be the owner.

Want to know more about buying a house in Amsterdam and its surroundings?

Buying a home in Amsterdam can be a challenging process, but with the help of an expert real estate agent, everything becomes a lot easier. Want to learn more about the buying process? Go to the FAQ page with the most frequently asked questions about the buying process of a property in Amsterdam. in Amsterdam.
Or contact one of our estate agents..