“Sold subject to conditions” (verkocht onder voorbehoud) means that buyer and seller have reached an agreement and signed the purchase agreement, but the sale can still be cancelled. The buyer still has a cooling-off period, or there are conditions still running, such as the financing condition. Only when those periods have passed is the home definitely sold. On funda you will see it listed as “verkocht onder voorbehoud”.
Is a home that is sold subject to conditions still for sale?
No. Buyer and seller have signed a purchase agreement and it is binding. During this period the seller is not allowed to sell the home to anyone else. Only if the sale is cancelled, for example because the buyer cannot get a mortgage, does the home become available again.
Do you see a home you like marked “verkocht onder voorbehoud”? Feel free to let the agent know you are interested. If the sale falls through, they know where to find you.
Which periods run after signing?
The cooling-off period
If you buy a home as a private individual to live in yourself, you have a three-day cooling-off period after signing the purchase agreement. During that time you can withdraw from the purchase without giving a reason and without any costs. The cooling-off period starts the day after you receive a signed copy of the purchase agreement. If it ends on a weekend or a public holiday, it runs until the next working day.
The conditions
The purchase agreement can include conditions under which the sale can be cancelled (ontbindende voorwaarden). The best known are:
- Financing condition: if the buyer does not get a mortgage within the agreed period, they can cancel the purchase.
- Structural survey condition: if the survey shows major defects, the buyer can cancel the purchase.
- Condition of selling the buyer’s own home: the purchase only goes ahead if the buyer sells their current home. You do not see this much in Amsterdam, because sellers prefer a buyer without this condition.
Buyer and seller agree together which conditions are in the purchase agreement and how long they run. A period of a few weeks is common.
What if the sale falls through after all?
If the sale is cancelled because of the cooling-off period or one of the conditions, it costs the buyer nothing. If the buyer does not keep to the agreements after that, they are in default. The purchase agreement usually includes a penalty of 10% of the purchase price in that case.
To cover that risk, the seller almost always asks for a deposit or bank guarantee of 10% of the purchase price. The buyer pays the deposit to the civil-law notary, or has their bank issue a guarantee. At the transfer, the deposit is deducted from the purchase price.
What does this mean for you as a buyer?
Only include a financing condition if you really need it, and choose a period your mortgage advisor thinks is realistic. In a busy market an offer without conditions can be stronger, but then you must be sure you will get the financing. Otherwise you risk that 10% penalty.
What does this mean for you as a seller?
Until the conditions have expired, the sale is not certain yet. Keep that in mind when you buy a new home. It is also why, when there are several offers, we do not only look at the price but also at the conditions and the periods.
Want to know how we handle this? Read more about selling your home or about buying a home with a buying agent.
Frequently asked questions
How long does a home stay “sold subject to conditions”?
Until the cooling-off period and all conditions have expired. Usually that takes a few weeks. After that the home is listed as “verkocht” (sold).
Can I still make an offer on a home that is sold subject to conditions?
No, the seller is not allowed to accept a new offer while the purchase agreement is running. You can let the agent know you are interested, in case the sale falls through.
Does the seller have a cooling-off period too?
No. The three-day cooling-off period only applies to the buyer, when they buy a home to live in themselves.
How high is the penalty if the sale falls through?
In most purchase agreements it is 10% of the purchase price. The penalty does not apply if the buyer cancels within the cooling-off period or on the basis of a condition.
