Sometimes, as a buyer, you may make an offer or a purchase promise that is accepted by the seller, but later you may want to reconsider. Or perhaps you have signed a compromise or a private sales agreement, but decide not to sign the deed at the notary. There are many reasons why you may decide not to proceed with the purchase or to reject the offer. Currently, you often pay 10% of the purchase price as a termination fee. The calculation is quickly made: if it’s a bid of 300,000 euros, the termination fee is 30,000 euros. In this case, it is worthwhile to invest in a lawyer to reduce this termination fee by half or even to zero.
Why do you need a lawyer for this?
The time when the purchase of real estate could be perfectly validly arranged on a beer mat in a cafe is behind us. Nowadays, a compromise or a sales agreement must meet many conditions. Both the seller and the buyer must follow many rules, comply with formalities, obtain certificates, provide information, respect sales rights, etc. Moreover, the obligations sometimes differ depending on the location of the property. For example, in Flanders, Brussels, and Wallonia, not everywhere the same sanctions apply if the agreement does not meet the necessary formalities. As a result, it is difficult to see the forest for the trees. Our lawyers are experts in this matter and will find out if the other party has made any mistakes so that you can escape high fines or damages.
How do we proceed?
The main goal of our lawyers is to take over and resolve your concerns. Together with our extensive network of specialists, we map out the problem. We check the agreement against the obligations, inquire with government services if necessary, and send technical experts (such as surveyors or architects) to identify technical problems.
How long does it take?
We always try to reach an amicable settlement. In more than 70% of cases, we succeed. In that case, the negotiations and the investigation take a few days to weeks. Our lawyers have extensive experience in negotiation techniques and tactics.
However, in this type of case, the principle applies: ‘it takes two to tango’. Sometimes an amicable settlement is not possible, and in that case, a procedure is inevitable. Then we often talk about a one-year lead time for a procedure. Our main concern is to ensure that the property can be resold and that we only litigate over damages.
What is the cost?
Since that amount of 10% of the sale price is often substantial, the stakes of the procedure are high. If it concerns a villa of 600,000 euros, we are talking about a possible compensation of 60,000 euros. This is a lot of money that you as a buyer lose without getting anything in return.
With us, the price is clear, and there are no surprises in that regard for the client!
Whether the case is settled before or during the procedure or a judgment must be obtained, everyone pays a basic amount of 1,500 euros plus 25% of the rejected amount.
–> Sale 400,000 euros → compensation 40,000 euros.
–> The lawyer manages to reduce the compensation to half: 20,000 euros
25% of 20,000 euros is 5,000 euros
Cost: €1,500 + €5,000 = €6,500
Client wins €13,500
–> The lawyer manages to reduce the compensation to zero euros.
25% of 40,000 euros is 10,000 euros
Cost: €1,500 + €10,000 = €11,500
Client wins €28,500
The above amounts are exclusive of VAT.
It is therefore clear that it is extremely interesting to consult a lawyer if you are faced with a bad purchase. In almost all cases, the result will be positive for you.Variable price More info about our prices