Is viewing the property free of charge?

Both the exposés and the viewing of a property are, of course, free of charge. To get a thorough idea of any property, we always arrange for people to individually view the property, accompanied by one of our qualified employees.

Do I have to register or have myself registered as searching for property?

We will, of course, be pleased to inform you of properties for sale at any time free of charge and without any obligation. However, for us to be in a position to inform you of precisely those properties up for sale that you are looking for, we advise you to fill in a search description that states your exact wishes. You then have the added advantage that you will be informed exclusively of all new properties for sale that meet your search description even before they are officially put on the market.

What other costs are involved in buying property?

Estate agent's commission. In eastern Westphalia, it is customary for the buyer to pay 3% of the officially recorded purchase price plus value-added tax to the estate agent. This can, however, vary between 1%-6% depending on the region. Unless otherwise agreed, the commission or estate agent's fee is payable if a legally valid purchase contract materialises.

Land transfer tax After signing the purchase contract, land transfer tax amounting to 3.5% of the purchase price is payable to the tax office responsible. After this tax assessment has been paid, the tax office issues a clearance certificate to the notary. Only once that has taken place can the notary arrange for the ownership of the property to be transferred in the land register.

Notary and court costs. The fees for transferring ownership in the land register, for recording by the notary and for the implementation of the purchase contract amount to about 1.5% of the purchase price in total.

Where do I get inexpensive financing?

Buying property is a significant investment. By doing so, you safeguard your future - on a longer term and lasting basis. That is why quality and experience are necessary particularly when it comes to getting the right finance. We work successfully with various financing experts who would be pleased to make you an individual offer.

What costs does a property owner pay in Germany?

Land tax. Land tax is payable to the tax office responsible each quarter. It is calculated based on the rateable value in conjunction with the respective local authority's rate of assessment.

Provision for deferred repairs. Depending on the state of the building, a fixed monthly amount should be planned to maintain the standard of the property and safeguard living quality also in the future.

Common expenses ("Hausgeld") These monthly costs are calculated by the property management company for owners of freehold flats. Essentially, the common expenses consist of supplementary charges, a provision for deferred repairs and administrative expenses.

How is buying a property legally protected?

The acquisition of property in Germany can only be carried out through a licensed notary. As a neutral expert, the notary monitors and checks the purchase contract and ensures that it is implemented. On the recording date, the purchase contract is read aloud by the notary and then signed by him and by the parties involved in his presence.

As a next step, a reservation notice (priority notice protecting a claim for transfer of title to land) is entered in the land register in favour of the buyer. As soon as the notary has received all the official authorisations (clearance certificate, negative certification on the right of first refusal of the local authority), he instructs the buyer to pay the purchase price. The land register is usually transferred free of any encumbrances. That means that any mortgages and land charges entered in the land register are discharged and deleted first by paying the purchase price. These entries must also be deleted in the presence of a notary. The seller pays the costs incurred in this connection. Once the notary has received confirmation that the purchase price has been paid, he arranges for the ownership of the property to be transferred in the land register. The property can be handed over to the buyer at the same time.

How is the value of property established?

The value of property is established by its market value. The German Building Code (Baugesetzbuch) and German Valuation Regulations (Wertermittlungsverordnung) have a significant influence on the valuation of property and its components (buildings, outdoor areas and other facilities).

The comparative value, gross rental or asset value methods are applied to establish the market value of real estate. If necessary, several of these methods can also be applied at the same time. The outcome of the valuation is to be established taking account of the situation on the property market.