Portfolio of your financing: folder for the bank

Banks receive financing requests for real estate on a daily basis. To ensure that your request goes through as quickly and smoothly as possible, you should make sure that your documents are in order. For this purpose, we recommend two folders that you can hand over to the bank.

Folder for the Bak:

1. Folder: Credit rating
2. Folder: Object

Object folder: summary of the data

We have listed everything you need for your object folder so that you are guaranteed not to forget anything.

General data: Exposé and photos of your object

First of all, there should be a synopsis or a fact sheet in your folder, on which all basic data of the object are noted. In addition, the bank should get a visual impression of your building or your apartment, whereby the submission of photos is very important.

What you need first:

• Real Estate Exposé/ Fact Sheet
• Photos of the apartment / building

More specifics: Parcel map, floor plans & insurance

In addition to the general facts about your dream property, you should have the site plan, the floor plan and the cadastral map ready. On the cadastral map you will find official key figures, which are defined in a limited accessible register (real estate cadastre). Furthermore, you need an excerpt from the land register , which determines the respective ownership and living conditions. Other important documents are the building insurance and the energy certificate. If you buy your property as an investment, you should include the lease agreement.

Other documents you will need are:

• Parcel map and site plan
• Floor plans
• Living space calculation
• Land register excerpt
• Building insurance
• Energy certificate
• Rental agreement

Condominium case: details of the entire property

When you buy a condominium, you are automatically part of a community of owners and therefore have to attach other plans to the entire property. This includes the declaration of division, which contains the agreements between all owners, as well as other plans of the building. In addition, the minutes of the last owners’ meetings are an important part.

Documents in the case of a condominium:

• Declaration of division – with certificate of seclusion
• Collection of resolutions – last 3 owners’ meetings
• WEG manager contract
• House service charge statement
• Property tax notice

Last document: The draft purchase agreement

Last but not least, the bank will be happy if you already have a draft of your purchase contract. If this exists, you add it as the last document in your real estate portfolio.

• Draft of the contract of sale

The next step: contract of sale of your apartment

Your dream property has been found! After a detailed assessment of the location, a commercial check and a technical check, you can now draw up the draft purchase contract for the notary appointment and to complete your bank documents. But what does such a purchase contract actually consist of? You can learn everything you need to know to draw up the purchase contract for your first own apartment here.

Apartment: check your property

First of all, your own home should be checked. If you do not have the necessary know-how yourself, you should definitely hire a professional.

What should you check?

• Windows – condition, year of manufacture, seal
• Exterior walls – measure moisture
• Walls and ceilings
• Floors (baseboards)
• Electrical subdistribution – fuse box
• Bathroom – humidity, water pressure, etc.
• Possibly built-in wardrobes

Common property in apartment building: checklist

If you have bought your first apartment in an apartment building, you are always part of a community of owners. This means for you that you also contribute your part to the common living together. This is no longer just about your own apartment, but about the entire building in which your property is located.

What is included in the inspection of the common property?

• Facade and roof, attic
• Basement – moisture
• Electric meter cabinet, main distribution
• Heating system
• Deficiencies – knowledge by residents
• Repair and modernization measures

The next step: evaluation by year of manufacture

A real estate appraisal is especially important when buying your first apartment. This includes the valuation by year of construction of your house or the building in which your condo is located. So what is the age limit of a building? You can find the answer in this article on valuation by year of construction.