Glossary Immosa Makelaardij


Annuity mortgage

With this type of mortgage, the gross monthly payment remains the same throughout the term of the loan as long as the interest rate does not change. Over time, however, the composition of the net monthly payment changes: in the beginning, you pay a lot of interest and little in repayments, but as the term progresses, the composition changes and you start paying more in repayments and therefore less in interest.

Asking price

An invitation to make an offer.


Bank guarantee

When a bank issues a bank guarantee, that bank guarantees that it will pay what is stated in the bank guarantee to the beneficiary when requested. Usually, the seller wants 10% of the sale amount as security. Instead of paying in cash, you can also give a bank guarantee. Reflection period (legal) If the sales agreement between the seller and the buyer is on paper, then the buyer, after receiving a copy, has three (working) days to reflect on the agreement. This means that the purchaser can abandon the purchase within this period without giving reasons and completely free of charge. If the buyer wishes to waive the purchase, he/she must inform the seller of this before the end of the cooling-off period. This can be done verbally as well as in writing.

Bare rent

The rent per month without service charges and possible heating costs.

Being under offer

Commitment by the seller's agent to a prospective buyer not to promote a transaction with other prospective buyers. Viewings by other interested parties remain possible.


The amount bid by a serious prospective buyer, including any resolutive conditions, completion date and a list of movable and immovable property included in the bid. An offer can be made verbally as well as in writing, but the sale is only binding when it is in writing!

Block heating

Central heating of a number of houses, for example in a block of flats, from one boiler house. Block heating therefore involves the collective use of natural gas to generate heat for individual rooms. This consumption of natural gas is fully included in the regulatory energy tax. For block heating, energy distribution companies charge customers a heat price that is based on the small user tariff. This is in contrast to the (lower) wholesale tariff that distribution companies pay to Gasunie for consumption in excess of 170,000 m3 of gas.

Bridging loan

Loan to bridge the time between the purchase of a new home and the sale of the old one. The surplus value of the old house is used. A bridging loan is usually taken out for a maximum of 6 months.

Brokerage agreement

Agreement for the mediation of clients.

Building deposit

The part of the mortgage amount that is used to pay the instalments for the construction or renovation of the home is parked in a construction deposit. You receive an interest rate related to your mortgage on this amount. The builder's bills are paid from the construction deposit. The maximum term of a construction deposit is 2 years.


A bungalow is a house, sometimes a recreational house, consisting of a single living and sleeping area on the ground floor. If one room is located on a second floor, this type of construction also falls under the term bungalow, often called semi-bungalow. Many bungalow parks have been built in recent years. The bungalows then serve as recreation homes. Most bungalow parks have shared paths and parking spaces. Sometimes there are more facilities that fall under joint ownership. The maintenance is then arranged in an Owners' Association (VvE). The boards of these associations may perform legal acts and conclude contracts to which the individual members are legally bound. When buying a bungalow in a bungalow park, the VvE can be an unexpectedly high additional fixed expense.

Business premises

Office building, shop building, business premises.



The annual levy on land that is issued on a long lease.


Anyone can call themselves an estate agent, but only if certain professional requirements have been met can an estate agent be officially certified by KEMA. Only VastgoedCert certified estate agents can become members of the NVM professional group.

Closing costs

All costs you incur when taking out a mortgage, such as a mortgage deed, arrangement fee, valuation and administration costs and the costs of applying for NHG.

Closing fee

The amount the bank charges you when you take out a mortgage.

Commercial building

A building intended for use by a business.

Conditions for mediation

Conditions that apply to the brokerage agreement.


Address, telephone number, e-mail address or website details.

Construction financing

The way in which a new house to be built is paid for. This is done in instalments, first the land and then the remaining instalments as construction progresses. At the time of purchase, the mortgage is taken out for the full amount and deposited in a bank account. The instalments are paid from the deposit. Interest is received on the amount on deposit. This is sometimes lower than the mortgage interest which must be paid on the amounts drawn down.

Construction instalments

A newly built house is often paid for in instalments. The parts of the purchase/contract price that have to be paid according to the contract for a new build are the construction instalments.

Content value meter

Guarantee against underinsurance. This means that the insurer will not make any claims for underinsurance in the event of a loss.

Contents business premises

Gross volume (length x width x height) using external dimensions.

Cost to Buyer

The buyer pays the costs of purchasing the property. Purchaser's costs include the costs for (1) transferring the cadastral right to the new owner in the Mortgage Register of the Land Registry Office; (2) 2% transfer tax (1999 rate); (3) notary fees for passing the deed of delivery.

Convector pit

This is a heating element installed in a narrow space below the floor surface.

Contents of dwelling

Gross volume (length x width x height) using external dimensions.


Commission or salary for the estate agent when buying or selling a house. For the provision of services in an assignment, you owe the broker an agreed amount of money. The amount of the fee will be agreed upon between you and the broker and recorded when the assignment is given. The brokerage fee is exclusive of the statutory sales tax (BTW).


Daily interest rate

The interest rate applicable to new mortgages at that time.

Death cover

Most mortgage providers require that the risk of death of the main breadwinner be covered. If the main breadwinner dies, this can cause financial problems for the remaining partner. A life risk insurance pays out an amount in the event of death. This amount is then used to pay off (part of) the mortgage.


A deed is a notarial document in which matters are recorded. Deeds that you will have to deal with when buying a house include the deeds that record the transfer of a house or a mortgage.

Deed of conveyance

Official document drawn up by the notary that officially transfers ownership of a house to a new owner. The deed of conveyance is also known as a deed of transfer.

Deed of ownership

A copy of the conveyance deed, certified by the land registry. You will receive a title deed from the notary, which is also the proof of ownership of your house.

Deed of sale

A deed is a notarial document in which matters are recorded.


The delivery is divided into two parts. With the legal delivery, the plot is put in the name of the buyer. This is done by signing the deed of delivery at the notary. This is also known as the deed of transport. The actual delivery takes place when the keys are handed over.

Delivery deed

A notarial deed transferring the immovable property, in this case the house.


A deposit for the landlord. The landlord thus has the guarantee that if the property is damaged afterwards, the damage can be paid for with the money from the deposit. The deposit can also be used if the tenant is in rent arrears. The landlord is obliged to refund the deposit if no problems are found afterwards.


Developing real estate for sale or lease.

District heating

Heating system in which heat and sometimes hot water is transported by pipeline from a central point to the dwellings in a neighborhood. The homes do not have their own central heating boiler.


The years between taking out and paying off the mortgage.

Dwelling value system

With this system the quality of a rental property is expressed in points. Based on these points the maximum rental price of the house can be determined. The point system does not apply to liberalised rental agreements.


Economic value

Amount that a house would fetch if it were sold under optimum conditions (also called the private or free sale value).

Effective interest rate

The effective interest rate indicates the actual cost of the mortgage per year. The interest you actually pay. When calculating the effective interest rate, in addition to the nominal interest rate, account is also taken of any arrangement fees, the time of payment (at the beginning or end of the month) and the number of payments per year (every month, every quarter, etc.). Also called gross interest rate.

Entry level interest

An introductory interest rate is a temporary, usually low, mortgage interest rate (1 or 2 years). During this interest period you can change or fix the interest rate for a certain period and mortgage rate free of charge. This type of interest rate can usually only be chosen for a new mortgage. An introductory rate can be interesting if you expect that the mortgage interest rate will fall further, and you therefore want to wait before you fix the mortgage for a longer period. If, for example, you expect the interest rate to fall considerably within a year, an entry-level interest rate is a good idea, because you can then fix your mortgage a year later at a much more favorable interest rate.

Execution value

Free of rent and use, the value that the property will fetch in a forced public sale.


Someone who works abroad for a long time.

Expiry date

The end date of a contract, for example the end of a mortgage contract or a fixed-interest period.


Financing costs

Costs incurred in obtaining a mortgage, such as appraisal costs, mortgage deed costs and costs for National Mortgage Guarantee.

Fixed-interest period

The period agreed with the lender during which your mortgage interest rate remains unchanged. Normally the longer the fixed interest period, the higher the interest rate.


A flat is a home in a larger building, such as a flat. A flat is the name for a one-storey house.

Flat right

Anyone with a flat right has a share in a building. That share also entitles you to exclusive use of that particular part of a building. In addition, the flat right entitles you to use common areas, such as the stairwell. The share and the associated right of use together form the flat right. This flat right - in contrast to the membership right - is registered in the registers of the Land Register. This also makes it possible to establish one's own mortgage. All flat owners together are the owner of the whole apartment building or complex. Flat rights can be for houses, but also for business or office space.

Foreclosure value

The foreclosure value is the appraised proceeds of a house in a forced sale. Usually, this amount is 75% to 90% of the free sale value.

Free market value

The value that the highest bidder would give for a house in an unforced sale. This is also referred to as the economic or private sale value.

Free on name

If you buy a house "free to name", the purchase price includes estate agents' fees, notary costs and VAT or transfer tax.

Freehold - N.O.N.

If you buy a house 'free to name', the purchase price includes estate agents' fees, notary costs and VAT or transfer tax. However, you will have to pay the mortgage deed costs and the costs for registration in the land registry yourself.


The internet site ( on which the houses that are sold by NVM estate agents are listed.


Garantie Instituut Woningbouw (GIW)

The 'Garantie Instituut Woningbouw' (GIW) was founded in 1975 and its purpose is to stimulate the quality of newly built houses and to promote trust between buyers of newly built houses and builders. The GIW draws up regulations for this purpose, in consultation with representatives of consumer organisations, building contractors and Dutch municipalities. The purchaser of a new-build home that is built with a GIW guarantee is assured of the quality of the housing plan and of a reliable building contractor. In the unlikely event that something does go wrong, then the GIW guarantee certificate offers protection. In the first place, this means that parties can make use of a low-threshold dispute resolution procedure. And if necessary, the purchaser can make a claim on the financial guarantee of the GIW scheme in the event of defects in the home or insolvency of the building contractor. The vast majority of new-build homes in our country are built with a GIW guarantee.

General terms and conditions

Conditions from which a company operates.

Grace period

After concluding the sales contract, the buyer has a statutory cooling-off period of three days. The cooling-off period starts after the buyer and the seller have signed the sales contract and the buyer has received (a copy of) the contract.

Green electricity

Green electricity is electricity generated from sustainable energy sources. There are various ways in which green power can be generated, for example by wind, with wind turbines water turbines operating at a lock in a river burning biomass, for example pruning waste or waste wood from the building or manufacturing industries solar energy, burning waste in waste incinerators, geothermal energy, wave energy (in development) tidal energy. In the next 20 to 30 years, wind turbines will be the only technology that can generate a lot of green energy. Almost all experts expect that electricity from the sun, with solar panels, will not be available for another 20 to 30 years. That is how long it will take before solar panels have become cheap enough for the power to compete in price with power from wind or ordinary power stations burning natural gas, coal or biomass. In 2007, European experts predicted that solar power would be fully competitive with market prices for conventionally generated electricity by 2015 or 2017. Green power can also come from old-fashioned power plants. These mainly burn natural gas or coal. If biomass is mixed in with the coal, part of the electricity may be sold as green electricity. The idea behind green electricity is that it reduces the emission of carbon dioxide (CO2) and other harmful emissions (NOx, SO2, soot, etc.). As a result, the greenhouse effect no longer increases. Since green electricity is inexhaustible, it will also be available for the next generations. This is not the case for organic fuels.

Gross actual interest rate

See effective interest rate.

Gross rent

The gross rent is the rent paid monthly. In addition to the net rent, this also includes the service costs and heating costs.

Ground heat

Ground heat or geothermal energy is energy that is extracted by making use of the temperature difference between the earth's surface and heat reservoirs located deep in the earth. Especially in volcanic regions (Iceland), these are located at such shallow depths that extraction is economically viable. This technique is also emerging in the Netherlands and Belgium, especially for temperature control in buildings.

Ground lease

If the land on which your house stands does not belong to you, you pay rent. The rent is called ground rent and is tax deductible.



A sum of money deposited by the buyer (usually at the notary's office) as security that he will meet his payment obligations.


Heating costs

Heating costs are the costs for heating and possibly hot water.

Home insurance

This insures your home (not its contents) against fire, storm, lightning strike and other disasters. Compulsory when taking out a mortgage.


There are three types of houses according to the way they are built, namely (1) detached houses, (2) houses which are attached to one other house. This is called 'semi-detached', (3) houses that are attached to another house on two sides. This is usually called a terraced house.

House for sale

Dwelling intended for sale.

Household contents insurance

A contents insurance is an insurance against damage that may occur to the contents (or household goods). A contents insurance is a damage insurance and is classified under fire insurance. There are differences between the contents insurances of the various insurers. These differences are often small, so that it is possible to give a general description of a contents insurance. The contents are all moveable goods that belong to the private household of the insured.

Housing Act

The Housing Act is about the quality of the housing stock and about building, using and demolishing dwellings.

Housing permit

A permit that a tenant sometimes needs in order to live in a cheap house. This is how the municipality controls the distribution of cheap housing. The housing permit can be requested from the relevant municipality.


Interest-only mortgage

With the interest-only mortgage, no repayments are made. The consequence of this is that the interest and therefore the tax deduction remains the same every year. Repayment takes place at the end of the term from the sale of the home or with capital saved from insurance or investment. This type of mortgage is often taken out in combination with another type of mortgage or if the client is able to contribute his own money. The average maximum possible repayment-free mortgage is around 75% of the foreclosure value (i.e. about 60% of the free market value). Some lenders accept up to 100%. You will therefore often need to put in your own money. Life insurance is mandatory with some lenders. If you should die in the meantime, the mortgage may be repaid by the insurance.


Investing in real estate for profit.

Investment mortgage

An investment mortgage is a combination of a repayment-free mortgage and a securities deposit. The loan is repaid at the end of the term with the accumulated value from the deposit. This type of mortgage is characterised by the possibility of high returns, combined with interest relief. The returns from a securities deposit develop less stable than the returns from a life insurance policy. The average expected return on a long term mortgage is however higher. Advantages of the investment mortgage: low net costs, a lot of freedom, additional deposits or withdrawals possible, fiscally attractive, maximum interest deduction during the whole term, co-financing of a single deposit possible, not dependent on insurance restrictions, chance of higher returns, the policyholder determines to some extent how his premiums are invested, the gross and net costs remain constant (at the same interest rate).

Investment property

Building that serves as an investment object.


Joint and several liability

When a mortgage debt is contracted jointly, each of the parties can be held liable for the total debt.


Key statement

This is drawn up if the actual delivery (handing over of the keys) takes place before the legal transfer of ownership at the Notary. Among other things, the purchaser must ensure that he insures the immovable property at the time of actual transfer.

KFD Foundation

The Financial Services Quality Mark (SFKD) is proof of the quality of a financial service provider. It means that the office meets higher requirements than the Financial Supervision Act requires, especially in the area of expertise and customer satisfaction. An independent foundation regularly checks whether the Keurmerkhouders meet these higher quality requirements. For you as a consumer, it is not easy to choose the right and reliable intermediary. The quality of an office is often not immediately visible and recognisable. With the Financial Services Quality Mark, you know for sure that you are choosing for quality.



The lessor must make and leave the property available to the lessee for use (Article 7.203 of the Civil Code).

Land register

National institution where all immovable property is registered with indication of the owner and any easements and leaseholds. The land register also maintains the mortgage register. The land register is a public register.

Land registry extract

The cadastral extract is an overview with the basic data of a real estate object, ship or aircraft from the cadastral register on a certain date. The overview includes the following: - name, address, sex, and date of birth of the cadastral owner - cadastral designation - surface area - rights in rem (except easements) - encumbrances, such as designations under the Monument Act, designations under the Private Law encumbrances act (pipelines), and decisions regarding the Soil Protection Act (contaminations) - additional registrations such as certificates of inheritance, changes in mortgages, and redemption of leasehold canons. The excerpt is intended to show who is registered at the Land Registry as the owner of a certain plot on a certain date.

Lease clause

In almost all mortgage deeds there is a standard clause which makes it forbidden to let or rent out the house without the written permission of the bank. This is called a rental clause.


The term for a lease-like agreement whereby agricultural land is given by the owner (lessor) to the lessee for use.

Letting agent

Estate agent working on behalf of the lessor.

Liability insurance

Covered is the damage caused by an insured person for which he/she is legally responsible as a private individual. This does not include liability related to the exercise of a profession or business or the performance of paid work. An exception applies to the activities of house staff (see above) and for activities performed by children during study (internship!), free time or holidays. There is cover for this. The cover also includes liability for damage caused by pets or other animals and liability as a homeowner for the own home and a second home, recreation home or mobile home located within Europe that is not exclusively intended for rental.

Liberalized rental home

A rental home in which the rent is allowed to be higher than a certain maximum according to the point system. There is no maximum rental price for a deregulated rental home.

Liberalized rents

The rent of your house is liberalised in two cases. Firstly, if you started living in a dwelling on or after 1 July 1994 with a rent above the rent subsidy limit applicable at the time. Secondly, if you are the tenant of an independent new-build residence (i.e. not a room) that was first occupied on or after 1 July 1989 with a rent above the rental subsidy limit for the year in question. The rental subsidy limit is adjusted every year on 1 July. The rent subsidy limit per 1 July 2003 is euro 585.24.

Life mortgage

The life mortgage is a combination of an interest-only mortgage and life insurance (endowment insurance). The loan is repaid at the end of the term or in the event of the death of the insured person with the payment from the life insurance policy. With this type of mortgage, tax-free capital is built up and you benefit from the interest deduction.

Linear mortgage

With a linear mortgage, a fixed amount is repaid periodically throughout the mortgage term. For a term of 30 years (= 360 months), 1/360th part must be paid each month. The consequence of this is that the interest and therefore the tax deduction are lower every year. The lender sometimes requires the linear mortgage because of the fast repayment in the initial phase, for example in the case of unmarketable collateral. In this way, the risk for the bank is quickly reduced. Due to the emergence of other, more favourable mortgage types, the linear mortgage is no longer used very often.

Living area

Officially, living area is that part of the plot which is built on for the dwelling. In other words, the total number of square metres of the ground floor. However, on many estate agents' websites and on Funda, living area refers to the total surface area of the house, i.e. all the floors of the living area and all the rooms added together.



A maisonette is a house in a larger building, such as a flat, with several floors per flat.


Controlling real estate.

Monthly charge

The amount your mortgage costs you each month in interest and repayment. The gross monthly payment is the amount you pay each month; the net monthly payment is the amount that remains after your tax deduction has been taken into account.


Long-term loan with immovable property (your house) as security.

Mortgage deed

Notarial act granting the right of mortgage. All rights and obligations of the mortgagor and mortgagee are stated. This deed is registered in the public registers which can be found at the land registry.

Mortgage Register

A public register - accessible to everyone - in which the mortgage is entered via the notary. The mortgage register is kept at the Land Register.


The party who lends money in order to obtain mortgage security, thus with immovable property as collateral. The mortgagee is thus the lender.


The person who provides a mortgage on an immovable property. The mortgagor is therefore the homeowner. The immovable property as is collateral.

Movable property

These are goods which the buyer can take over from the seller and which are not already connected to the property.


National Mortgage Guarantee

Guarantee fund that stands surety if the borrower no longer pays the interest and redemption connected with the mortgage loan. You can take out a mortgage loan with a National Mortgage Guarantee. This makes a difference in the interest rate and the amount of the mortgage. To obtain finance with a National Mortgage Guarantee a purchase price limit has been set. Above a certain purchase price, you cannot obtain finance with National Mortgage Guarantee.

Negotiated sale value

Free of rent and use. Also called free market value. The value of the property when sold under normal circumstances. The property is free of rent and use, so it is not rented to or occupied by anyone else.

Net real-estate interest

A national government scheme whereby the Owner-Occupied Mortgage Guarantee Fund (Stichting Waarborgfonds Eigen Woningen) stands surety for your mortgage loan. This guarantee is intended for people with a relatively low income who still want to buy a house. For mortgages with National Mortgage Guarantee lower interest rates apply. The real cost of your mortgage. It is the nominal interest rate that includes: - any application fees - time of payment - number of payments per year - life insurance premiums - life insurance benefits - tax deductions - tax credits.

Nominal interest rate

The annual interest rate applied by the companies without taking into account the additional costs and the moments of payment.


Dutch Association of Estate Agents and Real Estate Experts.

NVM accreditation

In order to become a member of the NVM, estate agents must, after their professional competence has been established, take an oath (pledge) at the NVM. When taking this oath, they promise to practice their profession honestly, reliably and independently.

NVM Code of Honour

Rules of conduct drawn up by the NVM for its members. The NVM code of ethics is the starting point for working in everyday practice. NVM members are tested for compliance with the NVM code of ethics.

NVM House Guarantee

An insurance policy against any hidden defects that the NVM estate agent can offer. The insurance is taken out on the basis of a structural inspection. A seller can also have a structural inspection carried out that falls under the NVM Home Warranty and then offer this for sale. A potential buyer can then take out insurance.

NVM network

A computer system in which all homes sold by NVM estate agents are registered. The NVM network is only accessible to NVM estate agents.


Office building

Business space suitable mainly for administrative work.

Off-peak interest rate

The lowest interest rate for the period that the mortgage offer is valid.


The right to create a purchase agreement by unilateral declaration of intent. The person who has the right is not obliged to make use of it.

Other business space

Business space that is not used as middle business space.

Owner-occupied home debt

The owner-occupied home debt is the amount of the loan(s) for the owner-occupied home. The interest you pay on these loan(s) may be deducted in Box 1. It concerns the (mortgage) debt you have taken out for the purchase (costs), renovation and maintenance of your own home and/or for the redemption of the rights of emphyteusis, superficies or curtilage. In principle, you can deduct the interest on that debt as costs of the owner-occupied home in Box 1.

Owner-occupied home lump sum

The rent you save because you live in your own home is seen as income by the tax authorities. You pay income tax on this fictitious income, the owner-occupied home lump sum. As from 01/01/2001, a percentage of maximum 0.8% (for houses from f. 165,278) applies to the new WOZ values that will apply for the period 2001 - 2004. See also "Rent value forfait".

OZB - real estate tax

Property tax (OZB) is a tax levied by municipalities on owners and users of immovable property.

Owner-occupied home reserve

The owner-occupied home reserve is the amount for which you cannot incur an owner-occupied home debt when buying another owner-occupied home. The owner-occupied home reserve is therefore the amount that is 'compulsory' to be used for the purchase of the owner-occupied home. If the owner-occupied home reserve is positive, you cannot incur an owner-occupied home debt for this amount when you purchase another owner-occupied home. If the owner-occupied home reserve is zero or negative, the owner-occupied home reserve has no effect on the owner-occupied home debt. The owner-occupied home reserve increases with the excess value of a sold owner-occupied home.


Parcel area

The plot is the ground floor area of the building. In short the land on which the building stands.


The formal act of signing a deed (house sale, mortgage) by both parties and the notary.

Penalty interest

An amount charged to you if the mortgage payments are not made on time. You also pay penalty interest if you repay more than the allowed percentage in the meantime.

Point system

With this system, the quality of a rental property is expressed in points. Based on these points the maximum rental price of the house can be determined. The point system does not apply to liberalized rental agreements.

Population Register

Everyone is legally obliged to register in the population register at the address of his or her main residence. If you are entitled to a rent subsidy, make sure that you register within 5 working days. If you wait longer, you run the risk of missing out on rent allowance.

Porch house

A porch is often a built-in space that is completely open on the street side and contains the entrance to a building. Several dwellings share a porch. Porch flats are houses built around a common stairwell. In general, porch houses are built in mirror image, i.e. the houses on the left side of the porch are the internal mirror image of those on the right side.

Portability scheme

Arrangement to take a mortgage with you when you move house during the period that your term has not yet expired.

Professional indemnity insurance

An insurance policy taken out by estate agents to cover liability arising from errors or omissions in the exercise of their profession.


Available properties for rent or sale.

Property deed

A copy of the conveyance deed certified by the land registry. You will receive a title deed from the notary, this is also the title deed of your house.

Provisional refund

The deductible mortgage interest can be settled with a provisional refund per month. You will receive more net money each month. Call the Tax Information Line 0800 0443 for a form to apply for a provisional refund.

Purchase agent

Estate agent working on behalf of house hunters.

Purchase mediation

Mediation in the purchase of homes.

Purchase order

An assignment to assist in the search for and purchase of a house for which the estate agent is allowed to charge a commission. The content of the assignment (which services are included in the assignment) depends on what the broker and the client agree upon.

Purchase, selling and financing costs

Purchasing, selling and financing costs concern the costs you have incurred for the purchase and/or sale of the residence, such as estate agent's fees, transfer tax and notary fees in connection with the transfer. Costs you have incurred to obtain a loan (the financing costs), such as closing commission and notary fees for the mortgage deed, do not fall under the purchase and sale costs. You can usually deduct the financing costs in your tax return.


Real estate agency

Company that mediates in real estate.

Medium-sized business premises

Business premises where the space is accessible to the public, and where direct delivery of goods or services takes place. Used by butchers and bakers, for example.

Real estate tax

Property tax (OZB) is a tax levied by municipalities on owners and users of immovable property.

Rebuilding value

The amount of money needed to rebuild your home, for example after a fire. The reinstatement value, which is usually stated in the appraisal report, is the basis for the building insurance of your house.


The refinancing (with another or the same company) of your current mortgage at better conditions or a lower interest rate. If you stay with the same company, you do not have to go to the notary again.

Registered partnership

Partners of the same or opposite sex can have their relationship officially recognised by means of a registered partnership. This can be done by registering the partnership at the civil registry. The tax position of people in a registered partnership is the same as that of married people.

Rent protection

Rent protection means that if the landlord terminates the rent and the tenant does not agree, the landlord must always go to court to get the tenant out. As long as the court has not decided that the tenant must leave the house, the rental agreement will continue. Rent protection applies to residential and commercial properties.

Rental agency

Broker who works on behalf of the house-hunter.

Rental agreement

The deed in which the tenancy is established.

Rent allowance

A supplement that the tenant can apply for if the rent is too high in relation to the tenant's income. It is a financial contribution from the government towards the cost of renting a flat. Until January 1, 2006, rent allowance was still called rent subsidy.

Rent increase

The landlord and tenant may agree on the annual rent increase.

Rental law

The rental agreement is regulated by Title 5 of Book 9 of the Civil Code. Book 7 deals with special agreements. This means that the general rules for contracts in Book 6 are also relevant to the tenancy agreement.

Rental mediation

Mediating in the renting of houses.

Rental property

A home or business premises owned by a landlord (a private individual, investor or housing association), who has entered into a lease and rental agreement (usually set out in a rental contract) with the user of the rental premises who pays monthly rent for it.

Rental value surcharge

The amount that you, as owner of a house, must add to your income in your tax return. The rental value amounts to a certain (fixed) percentage of the WOZ value. You pay income tax on this fictitious income, the owner-occupied home value.

Rental value tax

The amount that you, as a property owner, must add to your income in your tax return. The rental value amounts to a certain (fixed) percentage of the WOZ value or of the WOZ value after possible application of the increase percentage. You can find out which percentages apply to your municipality from the tax authorities.


House, flat etc.

Resolutive conditions

Valid reasons to cancel the purchase (or sale) of the house. Resolutive conditions can be found in the contract of sale. Examples of resolutive conditions - obtaining a mortgage - obtaining the National Mortgage Guarantee - obtaining a residence permit - the outcome of an architectural survey Resolutive conditions only apply if they are stated in the law or in the sales contract.


For your investments, you receive price gains and dividends; these items together make up the return on your investment. The return on investments, measured over longer periods, is usually higher than the interest on a savings account, but you run the risk that prices fall or companies do not pay dividends. So an investment can also have a negative return.

Right of Mortgage

You give the right of mortgage to the lender when you take out a mortgage. If you fail to make the repayments and your house is sold at a public auction, the lender has priority in claiming the proceeds.

Right of way

The right (easement) that the owner of a piece of land has to go over someone else's land. The other party has a duty to allow this and to maintain the path. This right is attached to a property and remains in place at the time of sale.

Roof terrace

A duplex house is the name for a house which was built in the Netherlands in the second half of the twentieth century. The name is derived from the fact that the living room extends over the entire depth of the house. The living room therefore has two windows, so that the sun can shine through the entire room. Next to the living room is generally a hallway with stairs to the first floor behind the front door, a corridor with access to the toilet, and a closed kitchen. On the first floor of the house there are a number of bedrooms.


Sales agent

Estate agent working on the instructions of the seller.


Sales contract

This document sets out in writing a sales agreement for a property.

Search assignment

An assignment to assist in the search for and purchase of a house for which the estate agent may charge a commission. The content of the assignment (which services are included in this assignment) depends on what the broker and the client agree upon.

Sector limitation

A branch restriction means that there is a provision in the lease of a previous tenant stating that the next tenant of the property may not operate in the same branch.

Service costs

The bare rent is the fee paid by the tenant for the sole use of the property. In addition, service charges may be charged for services and activities provided by the lessor for the benefit of the lessee.


A shop is an enclosed space accessible to the public in which goods are sold to private individuals (even if such sales only amount to 1% of the company's turnover). A hair salon that also sells shampoos is for this reason also a shop.

Single-family house

A single-family house is a type of housing intended for occupation by one person and his/her family, if any.


A system of windows in a framework that allows sufficient daylight to enter through the roof.

Solar factor

The solar factor or ZTA value of a window or glazing system indicates the ratio between incoming and outgoing solar radiation (both direct and diffuse radiation). For clear single-glazing, the ZTA value is 0.8; for HR++ glass, the ZTA value is between 0.6 and 0.7.

Solar home

A Solar Home is a home with the certificate of the same name which meets a number of quality requirements; the home is well insulated and the EP coefficient is a maximum of 0.75, application of sustainable energy, application of the National Dubo package (green financing requirements), overheating in the summer period is prevented, optimum use of daylight, use of FSC-certified wood, written residents' instructions. Parties in the construction industry, including SenterNovem and municipalities, have taken the initiative to develop the Solar Home Certificate. The World Wildlife Fund supports the principle of the Solar Home. The certificate guarantees a high added value for homes; comfortable, energy-efficient and sustainable.


An accurate description of a work, together with the materials to be used, the conditions and quality requirements and the construction drawings. The contracting agreement is based on the specifications. It is also necessary for checking the quality of the construction.


A floor is a layer of a building.


The difference between a fireplace and a stove is that the stove is located in front and not in the chimney opening like a fireplace.


The subtenancy agreement is a rental agreement whereby the tenant rents out part of his rented property to another tenant.

Surplus value

The positive difference between the residual debt of your current mortgage and the value of your house at free sale. You can use surplus value to increase your mortgage, for example to pay for renovations.

Surrender value

The capital which you have built up in the investment part of your investment mortgage and which you will receive when you end your investment mortgage. It is also the payment you receive when a mixed life insurance policy is terminated prematurely. You can use this amount to pay off (part of) your mortgage.


Takeover costs

The landlord may charge acquisition costs for moveable property such as carpets and curtains. The tenant is not obliged to take over these items and incur costs.

Tax deduction

You may deduct mortgage interest for income tax purposes. The costs of the mortgage deed, the appraisal and the costs of the National Mortgage Guarantee are also deductible. The redemption of your mortgage is not deductible.


With references to the Civil Code; A. Payment of the rent (Article 7;212 Civil Code), this is a fatal term (Article 6;83 sub a Civil Code), whereby default automatically occurs without prior notice of default (demand), unless the term of payment has a different meaning. Therefore, the tenant does not need to be reminded of his rent arrears first. Rental obligations are of a "continuous" nature and must be paid by instalments (usually monthly) and therefore failure to pay the rent on time already constitutes default, without prior notice of default being required. This is also apparent from the Supreme Court judgment of 11 January 2002 in Schwarz v Gnjatovic, RvdW (Rechtspraak van de Week) 2002.14/NJ 2003.255 ([1]).


The years between taking out and repayment of the mortgage.

Term of notice

At the end of each fixed-interest period and when selling your home, a mortgage can be cancelled. Sometimes this happens immediately, sometimes only after a certain period of time.

Top mortgage

The mortgage amount is higher than the foreclosure value of the house.

Transfer tax

Tax that is levied on the transfer of a property/right over the purchase price excluding the amount that is included in the purchase price for movable property (see the deed of sale where a breakdown is given for the property and the movable property). Currently the percentage is 2%.


The legal transfer of ownership at the notary's office.


Usable area

The usable area of a room or group of rooms is the area, measured at floor level, between the dividing walls (load-bearing walls) that surround the room or group of rooms in question. Only heated areas count in the calculation.


Vacancy Law

Under the terms of the Leegstandswet (Vacancy Law) a property can be rented out temporarily.


The making of a value judgement by a competent person for a specific purpose (examples of purpose: valuation for financing, valuation for inheritance in case of death of a natural person, valuation to determine the real value for making an offer on a property for sale).


Valuation of real estate.

Variable interest rate

If you do not choose a fixed-interest period, you will be faced with variable interest rates. You pay a monthly amount depending on the interest rate.


An independent and branch-wide platform that ensures the registration of certified real estate agents and valuers on the basis of their professional expertise.


VBO Makelaar (Association of Real Estate Agents) is a branch organisation for real estate agents and valuers. With approximately 1000 members, VBO Makelaar is the second largest trade organisation in the Netherlands.

Association of Owners

If you are the owner of a flat right, you are by law a member of the Owners' Association (VvE). Together with the other owners, the VvE looks after the common interests in and around the apartment complex. The division deed indicates which share you have as an owner in the entire building.


WOZ value

The municipality determines the tax value of your house. This value is determined for the Valuation of Immovable Property Act (WOZ).


Zoning plan

A plan drawn up by the municipality stating what the land or buildings may be used for. It consists of a plan map, building regulations, explanatory notes and an exploitation plan. Here you can see what developments are possible in the area of, for example, buildings. The building regulations indicate building possibilities and destinations in that area and further describe e.g. gutter heights, contents of the buildings, building lines, building intensity, etc. You can find these plans at the town hall.