The Netherlands Real Estate Practices
Overview
Real estate sales commissions are typically paid by the seller and average 2 – 3 % on most residential sales. There is a 0.5 to 1 % notary fee, a 6 % transfer tax and a 0.6 to 1 % registration fee. Most listings are exclusive to one agent only.
The compulsory real estate license requires coursework and passing an examination. A "Hold Thesum Certificate" is required for a real estate license. Continuing education is required to maintain the real estate license.
Titles, deeds and mortgages are recorded in the Title and Mortgage register. There are no restrictions for foreigners with regard to purchasing property.
It is mandatory to hire a notary to perform the registration process in The Netherlands. Before the notarial deed is executed, the Dutch civil law notary involved has to undertake a notarial title search at the Land Registry Office. Civil law notaries can consult the land register of the Land Registry Office by an on-line system, called the Automatic Cadastral Registration (AKR). They can conduct online research for deeds and other registered documents from 1998 onward. Older deeds and documents are scanned on demand and are sent immediately by email. The public notary executes the transfer deed online.
The authorized persons either have to appear before the notary or must have granted power of attorney. Registration tax and transfer tax are paid to the notary, who pays the tax authorities after registration.