Notaries' auctions

After the sale, the buyer of your property has 45 days in which to settle the full purchase price and expenses.

The successful buyer must pay the price within 45 days. The buyer may not delay the sale for any suspensive condition, such as obtaining credit. He may also not invoke the Solidarity and Urban Renewal Act which allows a seven-day cooling-off period because this Act does not apply to auctions.

Payment may be made from the eleventh day after the sale (after the period for receiving a higher bid has expired) and the buyer then takes possession of the property. However, he/she has 45 days from the date of the auction to pay the full purchase price and expenses.

If the price has not been paid within 45 days, you can choose between several options, depending on the terms of the contract. You could extend the payment period or request dissolution of the sale, i.e. cancel it.

When the 45 days are up, the successful buyer not only owes you the residue of the purchase price due but also interest at the rate stipulated in the penalty clause. The interest base rate is the statutory rate of interest in force. This interest rate is increased by 5 points from the 75th day, until the whole price has been paid.

Important points

The buyer must pay the price within 45 days.

When this time is up you are entitled not only to the purchase price but also to interest as stipulated in the penalty clause and you may request that the sale be cancelled.

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