Financing home ownership and possibly insurance

There will probably already be a green light. At least that's what the bank says. They have no concerns. I was just wondering what the normal procedure is here.

300k RLV for me and some cash as a reserve. A child is on the way. When I ask around in our circle of acquaintances, I don't find that to be too little. Everything has to be paid for. And if necessary, it will be sold. You can't insure against every risk in life.

We also only do RLV. If something goes wrong, it will be sold at a profit. I also have a company pension plan, my wife has the pension plan for teachers and capital-forming benefits. A disability insurance and additional insurances to be 100% covered would easily cost 200 €+ per month.

I don't understand. The RLV also costs you something per month. Why not put that amount into repayment? If something happens to the sole earner, you still have to pay the relatively high living costs for you and the children and for the house, in short, the house has to be sold.

How does the process of buying a house actually work? I have an appointment with the financing broker next week. Is the appointment with the notary only made after the bank gives the green light? The broker told me that he would like to schedule the appointment already, but since I don’t yet know exactly what the offer looks like, I wonder if that makes sense.

If you have a final offer from the bank, the bank is, as far as I know, only bound to it for a limited time (10 days?). If you accept the offer by signing it, you in turn only have a 14-day right of withdrawal. During this time, the notary appointment must absolutely take place, otherwise, if the notary appointment fails, you can no longer get out of your loan (or only with a prepayment penalty).

We received the notary appointment confirmation for April 16th on March 17th, so 4 weeks in advance. At that time, we still didn’t have a fixed offer from the bank. The bank’s documents only came to us on April 8th. But earlier than that, we couldn’t have signed with the bank anyway because of the right of withdrawal.

We deliberately scheduled the notary appointment so that if it had fallen through (seller backs out), we would still have had time to revoke the loan.

I believe we submitted the signed loan application about 10 days before the notary appointment.

Without a binding commitment from the bank (acceptance of the loan agreement), I would not sign at the notary. Because if you don't receive a loan after all, you have to pay the notary fees, possibly the broker, plus the reversal of the whole process. That would be too risky for me.

Several tens of thousands of euros can quickly be lost and you still don't have a house.

We also deliberately scheduled the notary appointment in such a way that, if it had fallen through (seller backs out), we would still have had time to revoke the loan.

I believe we submitted the signed loan application about 10 days before the notary appointment.

Without a binding commitment from the bank (acceptance of the loan contract), I would not sign at the notary. Because if you don’t get a loan after all, you have to pay the notary fees, possibly the broker plus unwind the whole thing. That would be too risky for me.

Several tens of thousands of euros can be gone quickly and you still don’t have a house.

But the other way around as well, right?
So, signed loan contract and seller backs out... bank wants money
Unless you are still within the revocation period?