ᐅ The decision to buy has been made – what are the next steps?

Hello everyone,

Since I’m still struggling to make sense of the overwhelming amount of information, I’m trying my luck here.

Here is the current situation:

We have viewed a potential house. Both the house and the sellers seem likable, and we have decided that we want to buy the house. After discussions with Interhyp and my bank, we now have six non-binding financing offers – two of which are suitable for us. Today, we have another appointment to discuss these two offers in detail.

But how does the process proceed from here? Do we first have to finalize a loan agreement before going with the seller to the notary to have a draft purchase contract prepared? Or does the notary appointment take place before finalizing the loan agreement? Or do we go to the notary with a loan approval from a bank, and once the purchase contract is signed, finalize the loan agreement? Or does it work differently?

Could someone please clarify this process?

Thank you 🙂

Hello,

how you proceed from here is entirely up to you. There are no mandatory steps dictating what should be done next.

However, I would recommend the following approach:

1. Inform the sellers that you intend to purchase the house and are currently arranging the financing.
2. Choose the financing option that best suits your needs.
3. Request a (binding) financing confirmation from the lending institution.
4. Clarify the processing time for the loan application.
5. Request the draft purchase agreement with a payment deadline aligned to point 4.
6. Sign the loan application.
7. Sign the notarized purchase contract.
8. Sign the loan agreement.

Steps 7 and 8 can also be completed in the reverse order.

Personally, I would never sign a real estate purchase contract before the financing is fully secured (binding financing confirmation).

Best regards,

Dirk