Hello everyone,
We have verbally been granted the purchase of a house built in 2019. However, the handover will only take place in summer 2025, as the owners are building a new property.
The purchase contract is now being drafted, and we are filling out the documents for the notary.
How would you include in the purchase contract a clause for the case that the owners do not move out by the agreed date, for example, if the handover of their new house has not been completed? Penalty payment or compensation?
And what would be an appropriate amount? Does anyone have experience with this?
We have verbally been granted the purchase of a house built in 2019. However, the handover will only take place in summer 2025, as the owners are building a new property.
The purchase contract is now being drafted, and we are filling out the documents for the notary.
How would you include in the purchase contract a clause for the case that the owners do not move out by the agreed date, for example, if the handover of their new house has not been completed? Penalty payment or compensation?
And what would be an appropriate amount? Does anyone have experience with this?
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nordanney19 Aug 2024 14:45Penalty payment for three months. Additionally, the purchase agreement as an enforceable copy for the eviction order after the three months.
nordanney schrieb:
Penalty payment for three months. Additionally, the purchase agreement as an enforceable copy for the eviction order after the three months.What would be an appropriate amount for the penalty payment roughly?
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nordanney19 Aug 2024 16:34Slawimk schrieb:
How high should the penalty payment roughly be? Take a comparable rent and add a significant surcharge—50-100%—so that it actually hurts. Don’t call it a penalty payment, but rather compensation for use (and also not rent, since otherwise you might risk creating a rental agreement, which could have legal consequences under tenancy law).
And: Make sure to get advice from a notary on this. Their fees cover this service, and you should definitely take advantage of it.
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nordanney19 Aug 2024 18:35ypg schrieb:
I wouldn’t agree to that as a buyer. If they can’t meet the handover date because the new build is delayed, they can store the furniture and stay temporarily in a holiday home of their choice. After all, you also need to give notice to your current place. What would you agree on in the purchase contract? Nothing at all?
And if the sellers then don’t move out, you have no leverage and would first have to file an eviction lawsuit and claim damages. It’s better to establish clear terms from the start.