Buying Property In Germany With Us

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Buying property in Germany

Buying property in Germany may sound like a daunting task, but in reality it is a lot easier and quicker than buying in the UK.  I should also mention that it is cheaper too.
Once you have decided to buy a property from us, we give you 2 options on how to complete. 

The first option and one that many choose is to forward a 20% deposit directly to our UK bank account, this withdraws the property from sale.  We aslo ask for an addition 10% on top of the selling price to cover all the legal expenses that come with buying a property in Germany.  We ask for this no later than 24 hours after the auction ends.
Once we have received the deposit and legal costs, we then send your details to the Notar local to where the property is situated.  They will then commence all the legal paper work and send to you a draft contract in both German and English languages.  When you have looked through the contract and are happy with it then you would forward the remaining balance to us and we all head off to the Notar to complete the sale.  A normal turn around is about 4 weeks from start to finish. 

What is a Notar?
A Notar is a public serving Legal expert who does not act for either the buyer nor the seller.  They are completely unbiased to both parties.  They complete all the necessary checks on the property being sold.  For example, checking the Land Register to ensure the seller is the legal owner, making sure there are no debts on the property.  As of the 28th May 2015, we ask the Notar or his associates to check all the details on a property before we even advertise it for sale.  Ensuring that when we do have a buyer, everything is in order to complete the sale as quickly as possible.
A Notar pretty much removes the need to hire a Solicitor/Lawyer for property transactions., becuase they act in accordance with German Property Law and will not allow any sale to go through without having everything checked out.  Most Germans will use not use a Lawyer as it simple adds 3 to 4 times more on top of standard legal costs.

The second option is almost the same as the first but instead of transferring the Deposit to us, you would transfer it into the Notars account.  Then once you have read and agreed to the draft contracts, you transfer the remaining balance to the Notar.  Once competed, the Notar would then forward the purchase price to us.  
We still ask for the Legal fees to be paid to ourselves within 24 hours of the auction ending as we have found this to be the easiest way to do it for both parties.   It also allows us to see that winning bidders are genuine.

Is 10% right for the legal costs?
Honestly, it is an estimate.  Many sellers on eBay charge a lot for the legal side of the purchase.  Also many sellers are having the buyers pay the costs that a Seller should be paying.   So although we do ask for 10%, we have found that this is in general the highest that it will be for the buyer.  We also give you a breakdown at the end of what the buying costs are by producing the original documents, so you'll be able to see exactly what your costs were.  Should these costs be less than the 10% then we'll refund the difference.  I don't think there is anyone else doing this.

Viewing trips.
At the moment, viewing trips are very difficult for us.  Having been caught out twice by people wanting a guided tour, only for us to travel to Germany and the interested parties not turn up.  We are at present based in Manchester UK, but we are able to give viewing trips if you are genuinely interested.  We ask a holding deposit of £500 before we'll make our way over.  Should you decide that you want to buy the house whilst on this trip, then we can take you to the Notar whilst there to start the whole procedure face to face.  We'll also refund the £500 by taking it off the final selling amount.

We always have a video walk through with all our properties, we have lots of pictures and you can always contact us by Phone or email if you require more.


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