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You buy a house to enjoy it for the coming years, either alone or with your partner or family. But what if, due to debts, a breakup, double expenses, or other circumstances, you need to sell your home as quickly as possible? One of the fastest ways to sell your house is by having it bought out by a real estate agent. Is that wise? And how does that work exactly? In this article, you'll read everything you need to know about selling your house to a real estate agent or an investor.
What are the advantages of selling your house to a real estate agent?
There are two major advantages to selling your house to a real estate agent (read: real estate agent) or investor. The first advantage is the speed with which you can sell your home. When you offer your house for sale to an investor or real estate agent, they often guarantee that you'll receive an offer on your home within 24 hours. The entire sale is often arranged within a few days. That is, of course, very fast.
The second advantage is that you know for sure that your home will be sold. Even if there is overdue maintenance, or other factors that could normally hinder a quick sale. Because real estate agents make business purchases, the legal reflection period of 3 days does not apply. Additionally, real estate agents usually buy your house without any dissolving conditions. It is often even possible to leave (part of) your furniture in the house. It is made very easy for you as a seller.
What are the disadvantages of selling your house to an investor or real estate agent?
Selling your house to a real estate agent has significant advantages for people who are in a hurry with the sale. But - you probably already guessed it - there are also significant disadvantages. You give up a lot on the selling price when you sell your house to a real estate agent. They often offer tens of thousands of euros below the market-conform asking price. So, all those advantages come with a hefty price tag.
If you are not in a huge hurry to sell your home, and there are few to no factors present that hinder a quick sale of your home, then it is wise to choose money for your eggs and sell your house through the "normal way".
Reasons to sell your house to a real estate agent or investor
There are various reasons why people choose to sell their house to a real estate agent. Here are some of the reasons:
- Divorce or breakup;
- Double expenses due to purchase of a new home;
- Double expenses due to living together with a new love;
- Moving to a nursing home;
- Paying off debts;
- Emigration;
- A hard-to-sell house, e.g., due to significant overdue maintenance;
- Sudden change in work environment;
- Wanting to quickly sell a house from an inheritance.
Can you sell your house to any real estate agent?
No, you cannot. A real estate agent affiliated with the NVM is officially only allowed to mediate, not purchase houses themselves. The majority of real estate agents in the Netherlands can therefore only be engaged as a sales agent and/or purchase agent. They help people find or sell a home, and do not buy homes themselves.
In the Netherlands, there are a number of real estate agents who actively purchase houses themselves. The term "real estate agent" may be a bit confusing here, as these are not standard real estate agents. You could also call real estate agents buyers, real estate investors, or real estate traders. You can quickly and easily find real estate agents online to whom you can sell your house. Ask them about the sales process and the conditions.
When do you get the purchase amount deposited into your account?
After the sale, you will have the purchase amount (or usually a portion of it) deposited into your account after a few days. The real estate agent pays the full purchase amount to the notary. The notary fees are also paid by the real estate agent. After all, he is the buyer of your home.
The notary checks a number of things before transferring the amount to your account. He checks whether the deed has been properly registered with the Kadaster and whether there has been any seizure of the house in the meantime. From the purchase amount, your outstanding mortgage to the bank is paid first. If it concerns the sale of an apartment, the outstanding service costs to the VvE are also paid. After that, you as the seller receive the remainder of the purchase amount in your account.
If you need the money for financing a new house, you will not receive the amount in your account first. In that case, the money is used directly for the purchase of your new home.
Can you get an advance on the purchase amount?
Yes, it is often possible to get an advance on the purchase amount. If you need money quickly, you can often request a down payment. Through the notary, you will then receive an advance on the purchase amount. You can use that money, for example, to quickly pay off any outstanding debts. Ask the relevant real estate agent or notary for more information if you wish to make use of this.
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