Checklist "Selling my Investment Property"

Legally mandatory step.

• This request must be accompanied by plans or sketches specifying the different rooms and their use.
• The document will provide the urbanistic situation as known by the municipality, which may not necessarily match your perception of the reality.

Legally mandatory step.
Be aware that if the buyer is not fully informed of the legal urbanistic situation, you may be held liable!
Real estate agents and/or notaries are also required to be transparent about this situation.
(Classic examples of non-compliant situations include converting an attic into a bedroom without a permit, transforming commercial space into residential use, dividing a large apartment into two units, closing off rear terraces, replacing windows with different designs and materials than the original, etc.)
The situation does not necessarily require rectification, but it does require informing the future buyer so they can make an informed decision.

Legally mandatory step.
An accredited PEB assessor will visit your property to determine the energy value of each housing unit.
You are legally obliged to mention the PEB result in all advertisements and announcements.

Legally mandatory step.

The requirements vary depending on the region, but in any case, action from the selling owner is necessary.

• Brussels-Capital Region:
  Brussels Environment requires a soil pollution certificate for each parcel, graded from 0 to 4. You may be required to conduct additional investigations and/or decontaminate the parcel before the sale can proceed.
• Flemish Region:
  Every sale must be accompanied by a “Bodemattest” (soil certificate) stating the soil’s condition, potential pollution, and any decontamination obligations.
• Walloon Region:
  Only land sales are subject to the obligation of providing a document obtained from the “Banque de Donnée de l’Etat du Sol” (Soil State Database).

Legally mandatory step.
You must provide the buyer, at the latest on the day of the authentic deed, with a control report of the electrical installation for each housing unit (applicable to all residential properties).
The law does not require the installation to be compliant during a sale, but you are required to inform the buyer of its condition. In case of non-compliance, the buyer must carry out the necessary work to bring it into compliance within 18 months of the authentic deed of sale.
Validity of the certificate: 25 years.

Potential buyers often request a copy of the property’s plans. It is highly recommended to prepare archival plans or recent sketches of the entire property, which are also necessary for requesting urbanistic information.

This can be obtained from the archives department of the relevant Municipality.

Legally mandatory step.
The selling owner must provide a dossier containing all relevant information about the property since 2001: maintenance, repairs, dismantling and/or replacement of installations, owner’s invoices, electrical plans, etc.

Legally mandatory step.
The selling owner has various obligations regarding an oil tank, primarily based on the tank’s capacity:

• Tank < 3,000 L: No legal obligation, but ensure that your tank has been properly maintained.
• Tank > 3,000 L: You must provide a certificate from an approved organization confirming the tank’s compliance.

Legally mandatory step.
Any ongoing legal proceedings or disputes related to the property for sale must be disclosed to potential buyers.

Legally mandatory step.

• Since January 1, 2018, and only in the Brussels-Capital Region: you are required to inform your tenants of the property’s sale by registered mail.
• In all cases, you must coordinate visitation modalities in accordance with legal provisions (3 x 2 hours/week or 2 x 3 hours/week).
  Try to schedule the authentic deed at the beginning or end of the month to avoid complex prorated calculations between parties.

Highly recommended step.
The sale of an investment property requires clear and comprehensive information about the rental situation to potential buyers.
Provide an occupancy table of the various tenants, actual rents, copies of current leases, inventory reports, security deposits, real estate taxes, etc.
Tip: Try to schedule the authentic deed at the beginning or end of the month to avoid complex prorated calculations between parties.

The work of a professional intermediary specialized in investment properties involves:
Analyzing the above elements to understand the legal situation in relation to the real or historical situation and create a comprehensive and transparent sales dossier to protect the seller.
Marketing the property, taking into account these elements and the property’s development potential for future buyers (financial projections, potential renovations, return on investment).
Analyzing offers from potential buyers and drafting a sales agreement, taking into account the elements described above.