What Does A Notary Do When Buying A House? | How Do You Choose A Notary?

What Does A Notary Do When Buying A House?

When buying a home, you always need a notary. After signing the purchase contract, the notary prepares the official documents for the transfer. The notary does a lot more behind the scenes. Do you wish to know what the notary does precisely? And how do you choose a notary? Then read this blog.

Draw Up A Deed Of Delivery

The civil-law notary draws up the deed of transfer. With this deed, you become the owner of the house on the transfer date. The civil-law notary prepares this deed of delivery based on the previously signed deed of sale. The notary checks the purchase contract for details to discuss and resolve inaccuracies as quickly as possible. The civil-law notary also investigates your background and that of the selling party. For example, is the house seized? Then the civil-law notary will report this. By attachment, a third party obtains the rights to sell the house (because debt has not been paid).

The deed of transfer describes who buys the house and with what division. For example, when you buy in pairs, you can both be 50% owner. The notary writes the deed of transfer after you have signed it together with the notary and seller.

Drafting The Mortgage Deed

Are you taking out a mortgage to buy the house? Then the notary uses the financial documents of the lender to draw up the mortgage deed. The agreement between you and the lender is detailed in the mortgage deed. The basis of the agreement is that you take out a mortgage loan from the lender, you give a mortgage right to the lender. If you do not meet your agreements, they can sell the collateral, which is your home.

You will find the amount of the mortgage registration in the mortgage deed. The mortgage registration indicates to whom the right of a mortgage has been issued for what amount. You can choose to have a higher mortgage registration recorded than your mortgage. You do this, for example, when you want to renovate (and you want to pay for this with resources from your lender). The mortgage deed further describes the collateral, the mortgage interest, repayment method, mandatory insurance, and other conditions.

The notary will go through the mortgage deed with you before the transfer. After this, you, the notary, and the lender will sign the agreement. In practice, there is often someone from the notary's office present who signs on behalf of the lender. After signing, the civil-law notary writes the mortgage deed. Now it is publicly registered that you have a mortgage on the house.

Registration In The Land Registry And Financial Transfer

Your civil-law notary takes the initiative to determine the date of passing. It is a day when the deed of transfer and the mortgage deed are both signed at the civil-law notary. After this, it is time for the key handover. Of course, you can take a tour of the house with the sellers to ensure that everything is delivered as expected.

Behind the scenes, the lender has currently transferred the money for the purchase to the notary account. The notary, in turn, transfers it to the selling party. The house has therefore been transferred to you.

How Do You Choose A Notary?

As a buyer, you pay the costs of the notary so that you can choose the best notary. Essential for your choice include:

·   The Location: A notary close to home can be helpful, especially when you have to visit the notary's office many times. For example, for details about the purchase or additional legal matters, such as drawing up a cohabitation contract.

·  The Price: Notaries determine their rates. To request several quotations and compare them. Note that the quotation amount is usually exclusive of VAT. Also, check which activities fall within the proposal carefully. It prevents unexpected costs afterward.

·  Communication: When buying a home, you need a clear explanation of the legal concepts and provisions.

· Expertise: The notary must be able to answer your questions about buying the home. This way, you feel understood and at ease with the purchase.