Purchasing a new home is a big step. In the current climate, you have to choose in haste and chaos. Especially in cities like Amsterdam, [link] or Haarlem [link] you quickly go over your budget due to high pressure. Dozens of prospective buyers, real estate agents who want to get the most out of you, no time to think quietly when buying your potential new home. Stress!
Legal cooling-off period after purchase
Fortunately, this is what the "legal cooling-off period" was created for. After signing the purchase contract, you have a legal three-day cooling-off period during which you can cancel the purchase without giving a reason. After that, the house is officially yours. This still creates some space to think. Whether this house really suits you. Whether you are going beyond your financial limits. And whether this will actually be your first home.
Why 3 days reflection time?
Safety and containing risk. That's what the three-day cooling-off period is for. In today's seller's market, with more demand than supply, as a buyer you have to act fast. There is a lot of appetite for the house you have your eye on. How do you handle that? After all, you don't want to make a hasty decision. The reflection period is designed for just that. Three days to seek advice from third parties or to have further research done into the structural condition of the house, for example. Still have doubts? Then cancel the purchase without administrative hassle. That's a good feeling!
Legal cooling-off period only when buying a home
Are you selling your house? According to Dutch law, there is then no fixed reflection period included. The legal cooling-off period of three days is therefore only intended for the buyer of a house. If you, as the seller, still want a cooling-off period, you can agree on this in the sales contract. It is rare, but possible.
