Why consult a CENTURY 21 office for the realization of my real estate project?
10 good reasons for calling into a CENTURY 21 office:
- Save time and money: your real estate specialist helps you find what you are looking for.
- At any one time, more than 6 500 listings on www.century21.nl.
- Your nearest office is just a stone’s throw away. CENTURY 21 is made up of more than 160 offices in Belgium and more than 7 700 throughout the world.
- For your comfort: 1 point of contact, your local CENTURY 21 office.
- Your CENTURY 21 estate agent takes over the burden of all the paper work and legal matters.
- The people at CENTURY 21 are among the best trained in the sector.
- Your CENTURY 21 estate agent represents your interests to realize your real estate project in the best possible terms.
- Your adviser regularly keeps you up to date regarding the status of your purchase.
- We are by your side, every step of the way, up to and including the signing of the deeds at the notary.
- … and we are there for you, too, when it’s all said and done, if you need us!
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What should I do first: buy or sell?
Selling your current residence first has its advantages:
- you know precisely what your budget is when looking for your new home.
- you have complete peace of mind when buying your new property.
If you do happen to buy first, in some cases you can keep living in your current home. Ask your CENTURY 21 real estate agent for more information.
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The bridge loan, an alternative if you do buy first.
On the basis of your credit rating and the fact that your old house will probably be sold quickly, some financial institutions will offer you a short-term bridge loan. This bridge loan is repaid with the proceeds of the sale of your property. The costs and interest rates, however, can be quite high. Other loans might be more advantageous. Ask your CENTURY 21 real estate specialist or your bank for more information.
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What is a preliminary sales agreement (or ‘compromis’)?
You sign a preliminary sales agreement when you have reached an agreement to buy a house from a certain seller at a certain price. It is a legally required and binding agreement between the buyer and the seller. It is therefore very important that it is compiled correctly and completely in accordance with the applicable legislation. Your CENTURY 21 real estate agent can guide you through this crucial step.
A sales agreement includes, among others:
- the agreed price;
- the deposit to be paid and the applicable stamp duty;
- the term in which the remaining balance is to be paid;
- the exact location of the property;
- any existing rights of use;
- any existing suspensive conditions;
- occupation fees, if the current owner wishes to continue living in the property for a period of time.
The preliminary sales agreement is valid from the moment any potential suspensive conditions, such as, e.g., obtaining a loan, have been fulfilled. Once signed, the deposit is paid to a secure account held by the CENTURY 21 office. If the property is free of debt or taxes, the seller is paid the deposit. The official deeds must be signed within 4 months of the preliminary sales agreement in the presence of a notary where the buyer also pays the remaining balance and receives the keys to the purchased property.
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What are the notarial deeds?
- The notarial deeds are drawn up by the notary on the basis of the preliminary sales agreement;
- They offer legal certainty;
- They must be entered in the mortgage register;
- They prevent the buyer from taking out a second mortgage;
- The notary registers the deeds at the registration and mortgage offices.
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What is reduced registration?
The percentage of the stamp duty or registration fees payable can be reduced when you buy a low-value home or block of land. When stamp duty of 10% or 12.5% applies, this is considered a full registration. In the case of 5% or 6% stamp duty, this is considered a reduced registration*.
Whether or not you qualify for reduced registration depends on a number of factors, including the cadastral income. Feel free to drop by your local CENTURY 21 office for obligation-free advice about this or any other matter related to the purchase of your home.
* depending on where the purchased property is located (Flemish Region, Walloon Region, Brussels Capital Region)
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What is a suspensive condition?
In the event of a sale under suspensive conditions, the sale is not definitive until these conditions have been fulfilled. A few examples of a suspensive condition are:
- sale conditional on the candidate purchaser’s obtaining a loan;
- obtaining a soil certificate.
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The sales agreement is signed. What now?
A few points you should keep in mind:
- If you are living in a rental home, you need to terminate the rental contract or potentially find another tenant.
- Inform the water, gas and electricity companies to close the meters and provide new connections if applicable.
- Contact your telecom provider to have your current line cancelled and a new one connected in the new home.
- Start organizing your move as early as possible. Look for a removal company now and remember that packing can take longer than you first think.
- Let everyone know your new address.
- Ask your CENTURY 21 estate agent for a free copy of the CENTURY 21 Moving Guide (available in Dutch and French). It is crammed with info and tips to let your future move go as smoothly as possible.
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What is the difference between the estimated value and the sale value?
A certified or recognized evaluator determines the estimated value of a property. He bases his estimate on certain objective criteria such as the condition of the home, the location, area, etc. This estimated value can be of use in the framework of inheritance tax, fire insurance, the bank, etc.
The sale value, however, is not only determined by objective criteria. Besides the owner, who determines for what price the property may be handed over, it is the buyer and the number of buyers that determine what the actual sale value will be. It is up to the owner to employ as many means as possible to find the maximum number of interested buyers.
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Why do I need a real estate agent if I can find a property just as well myself via the newspaper or the internet?
Surfing the internet can be an excellent way of looking for a property, even if it is time consuming. The real difference, however, lies in the personal and professional approach of the CENTURY 21 real estate agent:
- They save you a lot of time by making a pre-selection of properties that meet your demands;
- They answer all your questions, give advice and explain all the details;
- They realize your time is precious;
- They can offer you properties that have only just come onto the market, before they appear in the newspapers or on the internet;
- They are trained to inform you about prices, taxes, costs, financing but also the neighborhood in which you are looking for a home;
- They guide you through the entire process and help you make the right decisions;
- They have all the tools and knowledge to advise you;
- They stand by you up to and including the signing of the deeds;
- They make sure you do not have to worry about a thing…
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Don’t I pay more if I buy a house through a real estate agent?
A lack of market knowledge is the most important cause of excessive real estate prices. Sometimes, a small detail in the ever increasingly complex administration can lead to major problems during the purchase of your property. Your CENTURY 21 real estate agent provides you with correct and complete information, offering you insight into the market conditions in the place where you wish to buy. In short, buying through a CENTURY 21 real estate agent can help save you money in the long run.
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