Legal Assistance with Purchase Agreements

Questioner

We are in the process of selling our house. This is done via DGM, an online real estate platform, where people can bid for a certain period. Everyone can see these bids. Halfway through this period we were approached by two gentlemen who made us an offer of €108,500 plus €3,500 cash. As naive as we were, we accepted this offer. Because we wanted financial security, but also because we did not know that the house could fetch much more. The gentlemen did not want to wait until the bidding period was over (July 2) and halfway through the period (June 27) they made a purchase agreement themselves, copied from the homeowners' association (not via our broker). They indicated that they could then already arrange the mortgage, etc. We signed this agreement (without a broker). The agreement includes a penalty clause of 10%. This is paid if it turns out that default has been made (as in most purchase agreements). The gentleman also added a line that we received a deposit of €1,000 (which is also correct). Now we received an offer yesterday of €140,500 (!) and would like to accept this. Indicate that we waive the agreement with the gentlemen and would return €1000 deposit. The gentleman now demands the 10%. He would like to have this in cash (€10,800). Indicated that if we are obliged to pay this, we will only transfer this. Now our question is, is this agreement legally valid? Isn't the case simply closed if we return the deposit? Are we obliged to pay the 10%. We therefore suspect that we have been scammed, the gentlemen knew that this would happen and make a lot of money from it. If you have any tips or advice, we would also like to hear them.

Lawyer

A written purchase agreement has been signed and accepted, which is required when purchasing a home. This does not have to be an agreement from a real estate agent. In principle, you are bound by it, unless there is a mistake, for example. It may be possible that other conditions apply to the online platform regarding multiple offers. For the time being, you are bound by the contract. If you are still unable to reach an agreement, I would be happy to look at your case.

Lawyer

It is true that you are bound by the purchase agreement that you have concluded with the two gentlemen. Unless there are grounds to terminate the purchase, you are bound by this agreement. If you still want to get rid of it, you will have to reach an agreement with the gentlemen. In that context, the gentlemen can reasonably demand that you pay them the contractual penalty. Given the amount of the new offer, that is still a favorable deal. However, you must take into account that if the purchase agreement with the new buyer is concluded subject to reservations (such as a financing reservation), you run the risk that this agreement will be terminated by the buyer. You will then suffer damages equal to the penalty that you paid to the two gentlemen.