Buying property Buying your own home – how to go about it

There are many things you should carefully consider before deciding to buy a home. We have compiled these points into a checklist entitled “Residential real estate: checklist to use when looking for real estate”.

Required documents

Prepare the documents you will need when you consult with the bank. An information sheet is available to help you with this: “Residential property: checklist of documents needed for your consultation”.

Bank appointment

Make an appointment with your client advisor at the bank. Your client advisor will clarify whether the financial conditions are met and what kind of mortgage is suitable for you. Depending on the type of purchase, a reservation fee or down payment may be required.

Contract

As a rule, a notary draws up the contract. The contract essentially stipulates the purchase price, advance payments, payment terms, property ownership transfer fees and the date of transfer of ownership. The contract should be available before the appointment with the notary so that you have sufficient time to thoroughly examine it – you may wish to be assisted in this, for example by your client advisor.

Mortgage note

At the same time, the land registry or notary's office issues a new mortgage note or increases an existing one as security for the mortgage, usually at the request of the bank. The mortgage note must cover at least the amount of the mortgage claim.

Appointment with notary

For a real estate purchase to be legally binding, it must be certified by a notary. At the notary’s you will have the opportunity to review the details of the contract again. However, the financing must already be regulated at this point in time.

Transfer of ownership

Legally, you are not the owner of the property until you are registered as such in the land register.