Most people leave the legal side of things for what it is and they turn to lawyers and jurists, but we are supposed to have knowledge of the legislation. The real estate sector has not been spared here. Although the regulations are of great importance, when selling a property there is a lot involved. Seller and buyer are protected and are helped in the right direction.
But how do you find your way in this?
In part 1 we have already discussed 6 points. Here come the next 6.
The Energy Decree (08/05/2009) and the Energy Decision (19/11/2010) came into effect on 01/01/2011. At present, the obligation here applies to the EPC in publicity, compromise and deed for residential buildings and buildings where public authorities are provided. The EPC is valid for 10 years and must be carried out by an expert. The value has no impact on the validity of the purchase, but the seller can be fined if the EPC is incorrect or not communicated.
This is federally regulated by the Mortgage Act and is only required by the deed. It can also be useful that a certificate is requested at compromise, but it is not mandatory. However, it is best to provide a clause in the compromise that can be sold by free and unencumbered deed. Why? If a mortgage is established on a property, this mortgage will otherwise remain on the property when sold, even if the new owner did not need credit. If the seller has debts, it would otherwise be expensive for the buyer. The notary ensures that this mortgage is removed between the compromise and the deed, so that this problem can no longer occur.
If a property or apartment falls under the compulsory co-ownership system, the Civil Code sets the rules. In the blog about the information duty of the syndic, the information that must be provided is discussed in more detail. The syndic must provide the seller with the relevant information twice: once before the compromise and once before the deed. A prospective buyer must be informed before a compromise, a bid or a purchase promise is signed. This information should not be mentioned in the publicity.
The land register keeps information about each property, the surface area, the destination, the CI and who owns it in which capacity. As is already the case with regard to the previous points, the cadastral extract for the compromise is not compulsory and in the deed it is compulsory. The notary is obliged to follow the Mortgage Act, the real estate agent is not. It is therefore not mandatory to communicate in the publicity. However, it is an essential element for building a sales file. It also helps the broker to adhere to the Regulations of Duties and municipal liability law, where identification is a duty. Moreover, it is necessary for some municipalities to request the urban planning information.
Currently, the Decree of 12/07/2013 applies, which stipulates that when a property is classified as Protected Heritage, this must be mentioned in publicity, compromise and deed. Then there is also real estate that has been inventoried but not protected. This only needs to be mentioned in compromise and deed, not in publicity. If the property does not belong to either one, nothing needs to be mentioned. Of course it is always nice to see it confirmed, so you are sure that it was not just forgotten.
A procedure is already under way in the Flemish Government to make changes to the Immovable Heritage Decree. The completion is planned for the spring of 2019.
The word says it themselves. This file must be drawn up by the owner or safety coordinator and supplemented after an intervention in a property. This applies to works on all construction sites by one or more contractors whose construction has started from 01/05/2001. If you carry out work yourself, it is not mandatory, but recommended. The PID must be supplemented if a PID already exists. This should not be mentioned in the publicity, nor be added to the compromise, but it is recommended to mention its presence. The PID is passed on to the new owner by the deed, so here he is obliged.
This concerns the first 12 points. We continue in part 3.