Housing marketServices Rik Feijen 5 juli 2021

Who signs the preliminary sales agreement first?

Searching for a house and placing an opening bid is exciting. Once you have done so, you have to wait until the selling party accepts your offer. Once you have received the message that your bid has been accepted, a preliminary sales contract must be signed. This contains all the agreements made between the buyer and the seller. After all, the sale will only go through when the agreements are clear and accepted by all parties. Signing this contract of sale is therefore an important step. But who actually signs this contract first?

The provisional sales contract provides for dissolution

A provisional sales contract does not mean that you are tied to everything. There are also resolutive conditions that must be met. Despite the fact that it is a provisional contract, dissolution cannot take place that easily. This is only possible if these conditions are not met. Nevertheless, as a buyer you are in a strong position. The purchaser can still revoke the purchase within three days of signing. No reason needs to be given for this. This is called the statutory cooling-off period. You do have to make sure that you sign at the right time. Therefore, always read the documents.

All parties present at the signing

The provisional sales contract is signed when both parties are present. In this way, all the agreements can be gone over properly in the first instance. The estate agent will also be present. The seller is the first to sign. Finally, the purchaser signs the contract and the sale is complete at that point. The estate agent sends this contract to the notary, so that a deed of delivery can be drawn up. In the meantime, you have three days to make your decision. It is also possible that the sale will still not go ahead if you, as the buyer, are unable to meet certain conditions. These conditions are always listed in a clear manner, so that the parties know what is required to complete the sale.

Some resolutive conditions

One of the resolutive conditions that can be included in the preliminary sales contract is that the financing must be arranged. You have to be able to take out a mortgage. If this financing is not provided, the sale cannot take place. The technical inspection can also be an important part of the contract. If it turns out that the renovation will cost a lot of money, it can be a decision not to take the house. This will only be the case if the defects are unacceptably expensive. The estate agent can always give advice based on this inspection, so that you can make the right choice for your new home and be sure that you stay within your budget.

Being able to express your wishes

The preliminary sales agreement is a safe solution for all parties. Because the agreements are already drawn up beforehand, both parties have something to hold on to. However, you must take into account that this contract is drawn up by the selling estate agent. Therefore, you are often not present, but you can go through it beforehand. If your own conditions are not included, you can always discuss them. It is better to express the wishes of all sides than to end up buying something you don't agree with. Therefore, always decide for yourself what is best for you. In this way, you also avoid ending up in a house that you could not make your home.

As a seller, draw up the conditions

As a seller, you also have to make your wishes clear. After all, the provisional sales contract should also work to your advantage. For example, you need to consider what conditions you need to meet in order to sell. You always want to be sure that the buyer can arrange financing, so that you can get your hands on the money. Reservation of financing is therefore an important point to mention. There may also be other matters that you need to take into account. You can often find a checklist so that you don't overlook anything. You can also look for an example. Then you know exactly what to expect and you can make sure that your estate agent draws it up properly. In the end, as the seller, you will have sold your house and you can start enjoying your new home again.

Seek advice from the estate agent

You can always get more advice about the preliminary sales agreement. This will also give you a better idea of where you stand. Your estate agent is more aware of what is required for the contract, which means that he/she also has a better idea of how to properly arrange the sale and purchase. Also, the documents are all drawn up correctly. Legally, nothing can go wrong anymore. You know for sure that the sale can go through legitimately. However, you must take into account that the buyer still has to make a choice.

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