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 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 card in a cafe is behind us. Nowadays 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, different sanctions apply. Our lawyers are experts in this and can assist you in identifying element which could allow you to avoid signicant fines or damages becoming due.

How do we proceed?

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 over 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, legal proceedings are inevitable. In such case our main concern is to ensure that the property can be resold and that we only litigate over damages.

What is the cost?

Since a fine amounting to 10% of the sale price is often quite substantial, the stakes in such disputes are high. If the property in question is worth €400,000, we are immediately talking about a potential compensation of €40,000.

To avoid any further surprises, we therefore offer our clients a clear overview in advance of the possible outcomes and the associated costs.

Depending on whether or not we are able to reach an amicable settlement regarding the termination of your private (sales) agreement (including the compensation to be paid), we apply a different fee structure. Specifically, we handle your case as follows:

A. If we succeed in reaching an amicable settlement

The total cost for you consists of a base amount of €1,950 (excl. VAT), increased by 25% of the amount rejected (i.e., the amount by which the claimed compensation is reduced).

Example (*):
For a sale of €400,000, with a maximum compensation of 10% (i.e. €40,000):

1. DGDM succeeds in reducing the compensation by half (to €20,000):
   25% of €20,000 (“reduced amount ”) = €5,000
   Total cost to the client: €1,950 + €5,000 = €6,950
   Client gains €13,050

2. DGDM succeeds in reducing the compensation to zero:
   25% of €40,000 (“rejected amount”) = €10,000
   Total cost to the client: €1,950 + €10,000 = €11,950
   Client gains €28,050

(*) The above amounts are exclusive of VAT.

If no amicable settlement can be reached and legal proceedings become necessary, the total cost for you consists of a base amount of €1,950 (excl. VAT) plus our hourly rate (based on the work performed).
In this case, the percentage fee of 25% of the rejected amount does not apply.

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.