Last edited on
Must you report planned renovations to the buyer?
Must you report planned renovations to the buyer?
Yes, planned renovations in an apartment building must be reported to the buyer. As a seller, you have a legal duty to provide information. The buyer must be correctly informed about important decisions that may have financial consequences before the signing of the notarial deed.
Which renovations must you report?
In any case, you must report:
- Renovations that have already been officially approved by the general meeting
- Works for which quotes have already been accepted
- Decisions to take out a loan
- Major planned investments such as roof, facade, or elevator works
Even when renovations have not yet been definitively decided upon, but have already been extensively discussed in the general meeting, it is wise to report this.
How is the buyer informed?
The Property Manager provides the notary with, among other things:
- The minutes of the most recent general meetings (usually the last 3 years)
- Information regarding approved works
- The financial status of the Owners Association
- The status of the reserve fund
- Any outstanding loans
These documents form part of the mandatory sales file.
Why is this so important?
A buyer does not just purchase an apartment, but also enters into a co-ownership. Planned renovations can entail significant costs. Without correct information, the buyer cannot make an informed decision.
Failure to report important planned works can lead to disputes or even liability later on.
Who pays for the planned renovations?
In principle, the following applies:
- Were the works approved before the notarial deed? Then they are usually the responsibility of the seller.
- Are they approved after the deed? Then they are the responsibility of the buyer.
Parties can make alternative arrangements regarding this in the sales agreement (compromis).
What is the conclusion?
Yes, planned renovations must be reported to the buyer. Transparency is both mandatory and prudent. Through the Property Manager and notary, the buyer gains insight into approved or planned works. This avoids conflicts and ensures a correct and secure sale maintained by the Property Manager.
An honest sale begins before the signature.
Work with Parte
Will you also choose Parte?
At Parte, you get the best of both worlds: the personal approach of a local team that knows your building, and the strength of a professional group. One dedicated contact person, pooled expertise, and modern technology that a solo Property Manager cannot match. Request a non-binding quote today.
