The transaction settlement can be completed on the Transaction tab when the listing status is Reserved. The listing status is updated to reserved after the buyer’s offer has been accepted, or it can be changed manually under Status on the Summary tab.
In the transaction settlement, you finalize the deal details for the deed of sale, the transfer tax calculation, and for reporting. In addition, the transaction settlement also checks that all information required by KVKL is available in the system. Often at this stage you may need to return to the property description annex if it has not been completed thoroughly earlier.
Most commonly, the housing company loan portion (company loan) for a housing share may have changed from what was previously recorded in the listing. It must be corrected at the latest in the transaction settlement. You can also change the Sales method in the transaction settlement (traditional / DIAS). In addition, you can edit the buyers and sellers and their ownership shares if they differ from what was previously recorded in the assignment agreement or the buyer’s offer.
Predicted trade date provides an indication of upcoming transactions in reports.
Completed transaction date can be entered later once the deed signing time has been agreed, or once the transaction has been completed. In a DIAS transaction, the system automatically updates the completed transaction date in the transaction settlement once the deed of sale has been signed in DIAS. The completed transaction date is also important because it is transferred to the transfer tax form, and it starts the Tax Administration’s 7-day deadline for filing the transfer tax return.
The commission details shown in the transaction settlement are generated automatically from the assignment, and the commission amount is calculated based on the actual sale price.
NOTE: Any text entered in the assignment’s commission free-text field will not be updated in the transaction settlement commission.
In the transaction settlement, you can define whether / how the commission is split, for example, between other agents or the brokerage company, so that the information is also available in reports.
NOTE! The commission details in the transaction settlement do not include any additional billable expenses, such as document or marketing costs. These must be added as separate commission/fee lines on the invoice if they are not included in the assignment commission.
If the system displays an error in the transaction settlement stating "The sum of the shares does not match the amount of the fee", it may be due to a rounding difference. A rounding difference can occur in the commission auto-fill if there are multiple commission recipients. If this happens, we recommend checking the total commission amount and, if necessary, setting the commission amount to €0.01 less for one of the recipients.
Information entered in the transaction settlement will be cleared and reset if the listing status is changed to Assignment terminated, or if the listing is republished (status updates to For sale or Searching for tenant).