Get-out clauses (ontbindende voorwaarden) when buying a house

What is a get-out clause?

A get-out clause is an agreement in the koopovereenkomst (purchase agreement) under which the purchase lapses if a particular event occurs, for example if you do not get a mortgage. You then invoke it in writing, before the agreed date, and the purchase is dissolved without you owing the penalty, usually 10% of the purchase price.

Note: a condition only exists if it is in the purchase agreement. Anything you said verbally when making your offer does not count if it is not put on paper. See the purchase agreement and cooling-off period.

The most common conditions

Financing condition (voorbehoud van financiering)

The best-known condition: you can dissolve the purchase if you do not get a mortgage for the agreed amount and on the agreed terms. Record the amount the condition applies to, possibly with a maximum interest rate and whether it must come with Nationale Hypotheek Garantie (NHG, the national mortgage guarantee). You usually have to show with rejections from one or two lenders that it has not worked out.

Building survey condition (voorbehoud bouwkundige keuring)

This lets you dissolve the purchase if a building survey shows that the repair costs exceed an agreed amount. Agree that threshold amount and the deadline in advance. Often it is agreed instead that the survey takes place before signing.

NHG condition

You can dissolve the purchase if your mortgage is not granted with Nationale Hypotheek Garantie. This is relevant because NHG can mean a lower interest rate and a safety net in the event of a forced sale.

Other conditions

• Sale of your current home: you only buy if your own house has been sold by a certain date. Sellers are reluctant to accept this.
• Permit: you only buy if you obtain an omgevingsvergunning (environmental/building permit) for a planned renovation, for example a dormer window. See a dormer or extension after purchase.
• Valuation: you only buy if the valuation does not come in below an agreed amount. This limits the risk of having to cover a large shortfall yourself.

Deadlines: the date is sacred

Every condition has a final date. If you want to dissolve the purchase, the seller or their notary must have received your written invocation of the condition on or before that date. If you are too late, the condition has expired and you are bound to the purchase, even if the mortgage then falls through.

• Agree a realistic deadline. A mortgage application with a valuation can easily take several weeks.
• Not going to make it in time? Ask the seller in writing for an extension before the deadline expires. The seller does not have to grant it.
• Send your notice of dissolution by registered post or by email with a confirmation of receipt, and keep all documents.

Buying without conditions: wise?

In a tight market, buyers sometimes make offers without conditions to be more attractive. That is possible, but the risk then lies entirely with you. If you cannot secure your mortgage or the house turns out to be in much worse condition than expected, the seller can claim the penalty of 10% of the purchase price. Only do this if your mortgage is certain in advance and you have had the property thoroughly inspected.

Deposit or bank guarantee

After signing, the seller usually asks for security of 10% of the purchase price, in the form of a deposit (waarborgsom) held by the notary or a bank guarantee (bankgarantie). If you dissolve the purchase in time with a valid condition, you get the deposit back or the bank guarantee lapses. If you fail to complete the purchase without a valid reason, the seller can claim that security.

This article is general information. If in doubt, have the purchase agreement checked by a notary, buying agent or lawyer, especially if your conditions differ from the standard model.