Good preparation Belgium
Good preparation
Being well-prepared is often half the battle and, once you get deeper into the buying process, it prevents stress and panic attacks. In short, to be well prepared is to buy carefully and in a controlled manner. We can assist you in the preparation process. We have an extensive network of specialists in the industry.
Is buying and owning a home in Belgium really for you? And how do you address it? There are legions of books available on this subject. We are happy to give you tips.
If you do not know what you have to spend then you cannot search for a house. Get advice on this; based on available equity and your borrowing capacity, the buying budget can be determined. Contact us for a free exploratory “quick scan” and possibly a preliminary application to a Belgian bank.
Good planning gives overview and thus control of your project. Create a timeline showing approximately how much time you will spend on each stage of the buying process.
Avoid dwelling too much on multiple thoughts (regions). Focus on a certain Belgian region and thus avoid that too broad an orientation will take you too much time and it will only be searching and your plan will never become concrete
To be prepared for applying for a mortgage later, it is very wise to prepare for it at this stage. In fact, a lot of documents will be requested regarding your identity, income, expenses and future collateral.
If you have never bought a house in Belgium before, it is unwise to want to handle the purchase without outside help. You will find that it is impractical to have to reinvent the wheel on every subject. Moreover, a good advisor makes his money back. Map out which advisors you can approach.
The role of the notary in Belgium is somewhat similar to the role of the notary in the Netherlands. A Belgian notary also checks and examines whether what is stated in a purchase agreement is correct. This includes the property’s registrations, the status in terms of any mortgage collateral that is on the property.
We can help you prepare a notarized power of attorney for the completion of the purchase from the Netherlands (i.e. without having to travel to Belgium in person to sign at the notary’s office). We have contacts with a Dutch notary where the process of making the power of attorney and apostille can be arranged remotely (via zoom/teams).
Especially with somewhat larger purchase amounts, it is wise to think about “estate planning” in advance; in other words, avoiding paying (too much) inheritance and inheritance tax in the future. In Belgium, paying double inheritance tax on the property (both in the Netherlands and Belgium) is real! Get advice on this.
