The acceptance date is the date on which you as the buyer become the owner of the house. This is also referred to as the handover date, shipment date, or delivery date. But usually the term acceptance date is simply used. After signing the deed of delivery, you will receive the keys to your new home.
Part of negotiations
The acceptance date is part of the negotiations. The seller indicates when the acceptance of the house can take place. This can be done ‘immediately’, ‘by date’ or ‘in consultation’. When submitting a proposal, you as the buyer indicate when you want to accept the house. If you agree on the date, it will be determined in mutual consultation and recorded in the purchase agreement. Usually, the acceptance date is set to the first of the month, but it could be on any business day of the year.
Change acceptance date
You can deviate from the acceptance date, if both parties agree. That is stated in the purchase agreement. If one of the parties does not want to cooperate on another date, the date initially stated in the purchase agreement applies.
The acceptance date is generally within 3 to 4 months after the mortgage offer has been issued. The mortgage offer is valid for a maximum of 3 months and is usually requested immediately after agreement has been reached. The mortgage lender is often quick to deliver. You usually receive such a quotation within a few days.
It is possible to extend the validity period, but that costs money. The so-called commitment fee quickly rises to thousands of euros. And of course you prefer to keep it in your pocket.
Collect all necessary documents
If you have already been in contact with a mortgage adviser, you have probably already collected all the necessary documents. If you have not already done this, it is wise to already collect all documents. Below you will find an overview of which documents are required:
- Income data
- Equity / Own money
- Financial obligations
- Policy details
- Current home details (if applicable)
- Divorce documents
- Other pieces
Found a house
When you have found a nice house that meets many or perhaps all of your wishes, make an appointment for a viewing. If you really like a house, make an appointment as soon as possible. You probably feel that this could be THE house.
You can also consider engaging a purchase broker. He or she can help you find a home. Perhaps more importantly, this broker will accompany you to viewings. A real estate agent takes a different, expert view of a home. And then shows you the pros and cons of a home. The purchase broker can also advise you whether a structural inspection is wise to have it done. Still nice, a bit of certainty.
Hopefully I’ve helped you a little bit on your way through this blog. Finding a home during this time sometimes seems difficult or even impossible for some. But persistence wins! Feel free to contact Linda Peltz Realtor – eXp Realty without any obligation.