As of February 1, 2018, a model purchase contract for a home includes a building reservation. This means the buyer can terminate the agreement if the building inspection reveals that maintenance (backlogs and repairs) will cost more than agreed. Termination can also be triggered by an unusual situation, such as the suspicion of asbestos.
Buyer and seller can agree not to invoke the building reservation. If they do decide to invoke it, the clause must specify the maximum maintenance amount to invoke the resolutive condition. Therefore, in such a case, you must always negotiate with the seller. Of course, you can consult a specialist in this area for advice on this matter. We are happy to advise you.
If you decide not to include a resolutory clause in the agreement on this point, you run risks. There might be more defects than you anticipated, and the necessary maintenance might be much more expensive than you anticipated. In that case, you can no longer terminate the purchase agreement on that basis. You can, however, have a building inspection carried out before the purchase agreement is concluded (provided the seller agrees). It is also possible to have the inspection carried out during the three-day cooling-off period included in every agreement.
A building inspection provides more clarity about the property's condition. You can have this done before signing the purchase contract, but you can also include a clause in the purchase contract stating that the purchase is subject to a building reservation.
It's wise to think about this carefully beforehand. A building inspection can give you more certainty about the condition of the home you're considering buying. Contact us and request an inspection! Buying a home subject to a building inspection is always a good idea!
The cost of a building inspection (up to 250 m²) is only €489 including VAT. We'll conduct a comprehensive building inspection and you'll receive a building report. Do you have any questions? We're happy to help and can schedule an appointment with an expert inspector right away if you wish!
