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Frequently Asked Questions

commonly used terms

Bankgarantie (Bank guarantee)

A guarantee for the amount mentioned of a Dutch bank that the buyer comply with his obligations mentioned in the purchase agreement

Bedenktijd (cooling-off period)

After conclusion of the contract the buyer has a statutory cooling-off period of three days. The period begins after the buyer and seller have signed the purchase agreement and the buyerhas received (a copy of) the agreement.

Beroepsaansprakelijkheidsverzekering (professional Liability Insurance)

NVM brokers have an liability insurance for financial loss to third parties arising directly from errors committed in the exercise of their profession.

Bestemmingsplan (zoning)

A development plan for a particular area, adopted by the city council. This includes how certain land and the structures should be used. The development plan includes a zoning map, building requirements, and explanations. On the map a buyer can see which destination a plot has. The building regulations are building possibilities and in that area destinations are shown and described, for example gutter heights, contents of buildings, building lines, building intensity, etc..

Bod (offer)

The amount bid on a property by a party. This may be linked to: conditions precedent, a completion date and possible takeover movables.

Certificering (certification)

Anyone can call themselves a real estate agent, but only if certain skill requirements are met, a broker/estate agent may officially have themselves certified by KEMA. Only VastgoedCert certified brokers can join the NVM.


The fee for the services that a NVM broker provides you. The amount of the fee you agree upon with your estate agent in a signed contract.

Erfpacht (leasehold)

The right to use the land of someone else (eg the municipality) against payment of a canon (a fixed amount per month or year).


The amount that you should count on top of your income as the owner of a property in your tax return (a fixed percentage of the property value).

Hypotheekakte (mortgage deed)

This document lists all the agreements of the mortgage between the buyer and the financing institution. It will eventually be offered by the notary to the Land Registry and entered in a register specifically for that purpose.

Kadaster (Land Registry Office)

A body that manages public records. The Land Registry Office includes information about: the ground surface, if there is known pollution, if a building is registered as a monument, who is the owner and what it cadastral number is.

Koopakte (purchase agreement)

This document sets out the details that the seller and buyer have made for the sale.

Kosten koper (costs for the buyer)

Following are the meant costs:
- Notary fees for the deed of transfer
- Cost of the Land Registry
- Transfer tax
Agency fees and mortgage costs are not included.

Levering (delivery)

Delivery is split into two parts. In the legal part of the deliverance the property is put onto the name of the buyer (by signing the deed of transfer by the notary office). The actual delivery takes place by the handing over of the keys.

Nationale Hypotheek Garantie (NHG) (National Mortgage Guarantee )

A guarantee that ensures payment if the borrower fails repayment of his mortgage loan. You can close a mortgage loan with National Mortgage Guarantee, but financing with NHG is has a established purchase amount limit. Above this purchase amount you cannot obtain financing with NHG. NHG saves you on the interest rate.

NVM-beëdiging (NVM oath)

After their professional competence has been established, NVM brokers must take an oath before the NVM to join the NVM. In taking this oath they pledge their profession honesty, reliability and independency.

NVM-Erecode (NVM Code of Ethics )

Code of conduct that has been drawn up by the NVM for its members. The NVM Code of Ethics is the starting point in everyday practice. NVM members are tested for compliance with the Code of Honour NVM.


A computer system in which all the properties sold by the NVM brokers are registered.

NVM-Huisgarantie (NVM Home Warranty)

Insurance against any hidden defaults that the NVM broker can offer. The insurance is based on a structural survey. A potential buyer may purchase insurance.

Ontbindende voorwaarden (dissolving conditions)

Conditions that may be included in the purchase agreement. If a condition is fulfilled, the contract may to be dissolved (usually free of charge). Dissolving conditions may include obtaining the financing, obtaining a residence permit, obtain the National Mortgage Guarantee or the outcome of a structural survey.

Optie (option)

The term option is often used in the sense of certain commitments made by the selling broker to an interested (buyer). For example, when you as a buyer ask to "reserve" the house for you. The seller is not obliged to respond to this request.

Overdrachtsbelasting (transfer tax)

A tax that is levied by the buyer of a property (eg a house). Currently it stands at 2% of the value of property sold if it’s concerns a home. Otherwise the transfer tax is 6% of the value of the property

Roerende goederen (movables )

These are things that are not fixed to the property, which the buyer may purchase from the seller, either for a fee or not.

Taxatie (valuation)

The making of a value judgment about, for example a building by an authorized person, such as your estate agent. Eg when selling or renovating a home, to apply for a mortgage or under the Valuation of Immovable Property Act.


The legal transfer of ownership at the notary.

Vereniging van Eigenaars (Owners Association )

The union of all co-owners of an apartment building. Of this you are by law automatically a member if you are the owner of an apartment in the building. The Owners Association promotes the common interests in and around the apartment. In the deed of division it is indicated what part you as the owner have in the entire building.

Vrij op naam (v.o.n.) Freehold

This means that there are no additional charges for the buyer to obtain the property. Any mortgage costs and the costs of a broker remain for the account of the buyer.

Waarborgsom (deposit)

An amount paid by the buyer (usually to the notary office) as a guarantee that he will fulfill his (payment) obligations mentioned in the purchase agreement.

Zoekopdracht (purchase order)

An instruction to assist in finding and buying a home. Also called named purchase order. To do this, the broker may charge a fee. What services are included in this instruction depends on what the broker and the client agree upon with each other.


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