Selling real estate: Tips and tricks

Whether you are a private person or an investor, in these books you will find all the information you need on the subject of selling real estate. The content of each book has been summarized for you so that you can easily decide on your next promising read. The books provide you with tips, tricks and advice from experts so that you are well prepared for the next sale of your property.

There are many different types of property, such as detached houses, semi-detached houses, zero-energy houses or maisonettes, old buildings or apartments, but the sale of a property always basically follows the same pattern. However, you may need to consider special things for the respective property type.

Tip! Overview Real Estate XXL

The world of real estate is complex and multifaceted. If you want to keep an overview and avoid making mistakes, you should prepare well and clarify as many open questions as possible in good time. No matter whether you want to build, buy and rent out a property or live in it yourself, or even use a property as an investment to generate passive income: The preparation is the A&O. Here you will find articles, as well as book and video tips with successful and helpful books and videos on the subject of real estate – including tips and tricks from professionals and experts.

• Book & Video Tips Overview: Real Estate

Sell property privately

Rating: 4.4 from 5.0 (32 ratings)

This book will show you how to sell your property privately yourself. The ultimate step by step guide.

Want to sell a property and get the best price possible? This book will explain to you how that is possible.

What to expect:

• Mental preparation?
• Documents for the sale
• Energy certificate
• How do I value my property?
• Get your property in shape
• How to photograph your property perfectly
• Advertise property on the Internet
• Process requests correctly
• Request purchase contract
• Eviction – Payment – Handover
• And much more…
• Buy at Amazon

In 8 steps to a successful notary appointment

Rating: 4.3 from 5.0 (17 ratings)

In this book, you will learn step by step how private owners successfuly sell their properties. You benefit from the author’s extensive experience from his 38 years in the real estate business. Raimund Wurzel writes in a clear, understandable language and builds the sales process chronologically-systematically. He describes all relevant legal frameworks and illustrates his presentation with a variety of examples, such as effective marketing, as well as useful tips on real estate valuation.

• Buy at Amazon

Buy, manage, sell the first property

Rating: 4.8 from 5.0 (80 ratings)

Buy a house, sell an apartment or simply manage real estate – with this eBook “The first property expertly buy, manage, sell” the author wants to facilitate young investors the entry into the complex real estate industry. Here real estate owners andHere, real estate owners and prospective house and apartment owners are made the most relevant information particularly easily accessible.

• A guide for beginners: everything about buying real estate, renting and property management
• Buyer and seller: tips for successful communication between both parties
• Also serves as a working document: with sample files for downloading, e.g. service charge statement
• Available as an Amazon eBook: accessible anytime and anywhere
• Buy at Amazon

Sell, give away or bequeath real estate

Rating: 4.5 from 5.0 (10 ratings)

A new job in another city, the desire to expand or downsize, a separation or divorce, the loss of a job or even the intention to settle the estate early – the reasons for parting with one’s own house or condominium are as individual as life itself.

This guidebook provides comprehensive information on the legal options and the financial and tax consequences of selling real estate or passing on a house or apartment within one’s own family, whether as part of an inheritance or as a gift.

• How the market value of a property is determined
• Strategies to achieve a good price
• Sale through a broker or from private
• Real estate portals: How to market a house or condominium via the Internet
• What options are offered by a gift
• What to consider when inheriting a property
• Buy at Amazon

Selling my property successfuly

Rating: 4.5 from 5.0 (10 ratings)

Get more without risk. Your goal is clear: You want to get the best price when selling your house or condo and not take any risks. With this book, you’ll achieve that goal without detours. This updated edition will guide you through the entire process, from preparation and compilation of the necessary documents to the successful conclusion of the contract. Legal, tax, and financial issues. The guidebook takesThe guidebook takes into account both the major developments on the real estate market as well as small special topics such as the sale against life annuity or the right of residence.

• Sale from private to private: Our seven-point plan from preparation to handing over the keys
• Monetary tips & tricks: the best strategies for price negotiation and tax optimisation
• Sale with broker: save time, energy and nerves
• Everything that is legal: brokerage contracts, purchase contracts, community of owners and warranty
• Extras: home staging, sale against right of residence, auction
• Buy at Amazon

Selling Real Estate for Dummies

Rating: 5.0 from 5.0 (2 ratings)

Are you thinking about selling your property? This book will guide you from the decision to sell to the closing of the sale. Learn how to determine the value of your property, what will increase its value, and how to spruce up your home. Steffi Sammet and Stefan Schwartz will help you to find buyers, negotiate skilfully and achieve a good sales price, either on your own or with the help of an estate agent. And that’s not all: tips on how to deal with the purchase proceeds and how to secure a right of residence despite the sale round off the book.

• Buy at Amazon

The total sales success

Rating: 4.3 from 5.0 (66 ratings)

You can sell anything: strategy, situation and charisma decide! No matter what you sell – yourself, an idea or a product – your strategy and personal charisma have to convince the customer completely.s your strategy and personal charisma have to convince the customer completely. In this book, world-renowned sales trainer Zig Ziglar reveals his sales secrets. Learn, for example, how to

• You can adjust to every single customer individually
• Using references skilfully at the right moment
• Recognise pretexts and refute objections in advance
• With one of the 250 closing techniques described in the book, you are guaranteed to reach your goal.
• Total sales success is an absolute must for everyone who wants to sell even better in the future!
• Buy at Amazon

Related links about the topic Real estate

You want to become an absolute professional in the field of real estate or simply learn more about real estate financing or real estate as an investment? Then you will find even more information and book tips on the subject of real estate here.

Buying real estate

Building Property Books – With our book list, you can’t go wrong with your next property purchase. Our book tips cover everything from how to properly view your property to closing the sale and possible resale. What do you need to look out for? How do you finance your purchase? How do you evaluate a property? And how do you conclude the contract? You will find the answers here.

• Buying real estate: Book Tips
• Video tip on buying real estate

Real estate financing

Real estate financing – You want to buy a property, but do not know how you can finance your dream? Terms like loan, interest, credit, repayment or building society contract only raise more questions for you? Here you will find all the important information on the subject of real estate financing: from financing with equity to financing without equity to applying for a loan, we cover all the important topics!

• Real estate financing: Books
• Real estate financing videos

Overview real estate XXL: Investment, broker, renting & Co.

Here you get back to the overview of book and video recommendations on the subject of real estate in Germany. Investment cases, capital investment, passive income, house or apartment buy and rent and much more is explained to you here by experts and understandable. In this XXL guide you will find information and articles on the most diverse questions on the subject of real estate.

• Back to Book & Video Tips Overview: Real Estate

Selling real estate for everyone

You want to sell your property as an investor or private person – no matter if apartment, granny flat, semi-detached house or detached house – but you don’t know exactly how? You are afraid of making mistakes and want to do everything right? We’ve put together a video guide to help you avoid the biggest home selling mistakes and learn everything you need to know. From home staging to tax savings, it’s all explained here so you can become a true pro for your next home sale!

Reading tip (external): Learn from the expert. You can find many, many more advice articles for free at Lukinski. The luxury brokers write new articles on selling real estate every week. With more specific advice pages on selling a house, selling an apartment, and multi-family and land. Plus basics like the purchase contract (who pays the costs?) to saving taxes with real estate.

Tip! Overview Real Estate XXL

The world of real estate is complex and multifaceted. If you want to keep an overview and avoid making mistakes, you should prepare well and clarify as many open questions as possible in good time. No matter whether you want to build, buy and rent out a property or live in it yourself, or even use a property as an investment to generate passive income: The preparation is the A&O. Here you will find articles, as well as book and video tips with successful and helpful books and videos on the subject of real estate – including tips and tricks from professionals and experts.

• Book & Video Tips Overview: Real Estate

Sell property

In order to sell a property successfuly, there are some important things to consider. You should also avoid mistakes at all costs and prepare as well as possible. In these videos you will receive tips and tricks from experts on the subject of real estate sales. You will be helped to prepare yourself optimally and to learn which decisive factors are important. With these videos, you too will become a professional!

Selling real estate: Tips from the expert on selling real estate

If you want to sell your property privately, you have to pay attention to a lot of things. And with such a complex topic, mistakes can happen quickly. In the worst case, they can also no longer be undone. Especially at the beginning of the sales process, private sellers make many mistakes. So that this doesn’t happen to you, the real estate agent Frank Baur gives tips for a successful sale.

7 tips to sell real estate quickly

You have problems with the sale of your property? Whether it’s an apartment or a house, then you’ve come to the right place! In this video you will learn how to sell your property quickly with just 7 tips. How you prepare for the notary, are practiced for viewings and many other tips from which you can benefit, apply, you will learn in this video!

Selling property for as much as possible: 3 tips from the pros

In this video you will learn 3 reasons how you can achieve a higher sales price. Sales trainer Stefan Rappenglück reveals his 3 tips to achieve a higher sales price at your next real estate sale. With these tricks you too can achieve even higher profits in the future and can plan even bigger investments in the future.

Why you should sell your property now!

Should you sell your property in the current market environment? Or does it make sense to hold on to real estate because there is virtually no interest on investments? This video talks about pros and cons using a recent example. There are also concrete numbers so you have a better basis for your decision. And at the end there is a valuable additional tip for your wealth accumulation with real estate.

Avoid mistakes

As with almost everything, there are many things you can do wrong when it comes to selling real estate. Especially when it comes to finances, this can have far-reaching consequences. In these videos you will learn about common mistakes and pitfalls and learn from professionals how you can avoid them in the future. With these tips and tricks you won’t make any more mistakes and sell your next property for maximum profit!

Selling a property: tax pitfalls

Selling a property is not easy. There are many potential risks and pitfalls. Especially when it comes to taxes, sellers should be very careful. One tax trap, for example, is the speculation period. It mainly depends on whether the whole thing is tax-free or taxable. In this video you will learn more about tax traps when selling real estate and how to avoid them.

Sell property yourself: 5 points to avoid

Mistakes are often made by owners when selling their own property. The most important mistakes and their solutions are listed in this video. For example, it is about the transfer of the property before paying the purchase price, black money payments with the buyer, the concealment of hidden defects and similar mistakes that should be avoided at all costs when selling your property.

Sell house and avoid mistakes

Selling your house or apartment can be a stressful experience. In this video you will get practical tips to consider. Selling your property is often a special stage and a difficult step. There are many mistakes you can make and some key things to consider. In this video you will receive tips and assistance.

Real Estate Sales & Taxes

There are many financial aspects to consider when selling real estate. Above all, the topic of tax must be taken into account. A lot of money can be saved by using tricks and the appropriate know-how. But it is important to consider certain things in order to do everything right and not to run into problems afterwards. In these videos you will receive important information on the subject of taxes when selling real estate.

Sell private real estate tax free

Want to sell your private property, but also want to save on taxes? These two experts explain in the following video how you can possibly sell your property tax-free and thus save a lot of money. Especially to build up private wealth, this is a helpful tactic in the real estate business!

Taxes when selling a house

Selling your own property tax-free? Is that possible? As the seller, you don’t get the full amount from the sale price of a property: you pay estate agent commissions, notary fees and you may have to finance the move to your new home. But what about taxes when selling a house? What does the 10-year period mean when selling a house and how can the gift tax allowance be of benefit to you? An expert tells you about the taxes when selling a house.

Questions: Sell real estate tax free?

In this video you will get answers to important questions such as: How do I sell my property tax-free? How do I operate my private asset management business? How can I engage in commercial real estate trading? This and much more you will learn in this video, have fun and above all: success!

Related links around the topic Real Estate

Are you interested in the topic of real estate and would like to learn more? No problem! With our guide, we have comprehensively covered all topics related to real estate. We give you book and video tips on topics such as real estate financing, getting started in the real estate world or even finding the right real estate agent. Here you can get comprehensive information and become an absolute real estate professional!

Buy property

Buying real estate – Buying real estate is not like shopping in a mall. Before you buy a house or an apartment, many aspects must be clarified in advance. Many mistakes can happen. With our guide you avoid problems and get in the best case the perfect property. You want to deal with the topic of buying real estate again in peace? Then get one of these books, with top ratings and recommendations from other readers.

• Buying real estate: Videos
• Book tips on the subject: Buying real estate

Passive income

Passive income – A term you should know if you are involved in the field around real estate rentals. But not only in the real estate world you can generate passive income, but also in other areas. How this works in real estate, what kind of passive income you can plan for here, but also what other ways there are to get passive income, you will learn in these videos.

• Passive Income: Video Tips
• Book tips around passive income

Overview Real Estate XXL: Investment & Co.

Here you get back to the overview of book and video recommendations on the subject of real estate in Germany. Investment cases, capital investment, passive income, house or apartment buy and rent and much more is explained to you here by experts and understandable. In this XXL guide you will find information and articles on the most diverse questions on the subject of real estate.

• Back to Book & Video Tips Overview: Real Estate

Make money in real estate: How does it work?

How you can make money with real estate is not witchcraft, it can be a variety of property types such as semi-detached, terrace apartment, maisonette apartment, half-timbered house and more. However, there are many facts and rules to consider in order to avoid common mistakes and to be as successful as possible with renting out your house or apartment or simply earning money with a property. We have compiled a list of recommended books on the subject so that you too can soon become a professional in this field!

Here’s another tip for you! Online you can find a lot of articles and tips on Lukinski.de. Here you can learn everything: from tax basics for asset accumulation, to real estate as a capital investment through renting, to saving taxes with real estate (external). Everything free of charge from the expert.

Tip! Overview Real Estate XXL

The world of real estate is complex and multifaceted. If you want to keep an overview and avoid making mistakes, you should prepare well and clarify as many open questions as possible in good time. No matter whether you want to build, buy and rent out a property or live in it yourself, or even use a property as an investment to generate passive income: The preparation is the A&O. Here you will find articles, as well as book and video tips with successful and helpful books and videos on the subject of real estate – including tips and tricks from professionals and experts.

• Book & Video Tips Overview: Real Estate Guide

Making money with residential real estate: Success as a private real estate investor

Rating: 4.7 / 5.o (915 ratings)

• Real estate as an investment
• Search for investment properties
• Real estate valuation
• Purchase: negotiation strategies and testing
• Calculate cash flow & return & Excel calculation tool
• Real estate law (basics) + in the rental of condominiums
• Tenancy law (basic right) + Rent increases
• Buy at Amazon

Buy real estate, rent it out and earn money

Rating: 4.5 / 5.0 (147 ratings)

• 8 % return on real estate possible, if well managed
• If you go about investing the right way, you can get an additional source of income. Also ideal as a retirement plan. Also possible: to do this professionally.
  
• The demand for housing is growing and there is no end in sight. Due to the housing shortage, higher and higher yields can be achieved, especially in cities.
• How to save on taxes by investing in real estate.
• Buy at Amazon

SuccessRich with real estate investments

Rating: 4.4 / 5.0 (98 ratings)

• How to find the right property: Examination of the documents, the object and the place.
• Options for ideal financing
• How the right calculation is

• Tenant and property management
• Exit Strategies

• Buy at Amazon

Making Money: How to generate passive income and

Enjoy financial freedom

Rating: 4.8 / 5.0 (35 ratings)

• How to get passive income through little effort
• Earn money easily with niches
• Investment methods and increase money
• Online trading and how to invest correctly in real estate
• Buy at Amazon

The basics of real estate investment

Rating: 4.1 / 5.0 (116 ratings)

• Build your own wealth
• Here you can find out why some properties can be profitable
• Why you can buy real estate with your later retirement in mind.
• Here you will be told that not only people in the field, but anyone can learn how to invest in real estate.
• Buy at Amazon

The 1×1 of the real estate millionaire

Rating: 4.3 / 5.0 (257 ratings)

• How to build wealth with real estate + how to get over 30% in equity returns.
• Low risk but high returns, how?
• Choosing the right property and then how to find it
• Real estate financing and possible mistakes to avoid
• Selection of the future tenant
• Dealing with brokers and sellers
• Buy at Amazon

Related links about the topic Real estate

You want to become an absolute connoisseur in the field of real estate and are now really curious about the possibilities and what is actually feasible when it comes to real estate? Then take a look at our other book tips on topics such as real estate financing, renting property and much more!

Let property

Renting out property – Are you looking for a sensible investment or just a way to generate extra income without having to do too much? Renting out property is a great way to provide for your retirement and stop worrying financially. There is a lot of money to be made in real estate – how it all works is explained in the following books so you don’t make any mistakes!

• Video Tips: Rent out property
• Book recommendations: Renting a property

Real estate financing

Real estate financing – You want to buy a property, but do not know how you can finance your dream? Terms like loan, interest, credit, repayment or building society contract only raise more questions for you? Here you will find all the important information on the subject of real estate financing: from financing with equity to financing without equity to applying for a loan, we cover all the important topics!

• Video Tips: Real estate financing
• Book recommendations: Real Estate Finance

Overview real estate XXL: Investment, broker, renting & Co.

Here you get back to the overview of book and video recommendations on the subject of real estate in Germany. Investment cases, capital investment, passive income, house or apartment buy and rent and much more is explained to you here by experts and understandable. In this XXL guide you will find information and articles on the most diverse questions on the subject of real estate.

• Back to Book & Video Tips Overview: Real Estate

Selling real estate – how to make the sale uncomplicated and profitable

Selling a property successfuly as a beginner is harder than you think. There are many things to consider and many mistakes that can be made. So you should be aware of the procedures from the start and be sure that you are doing everything right. If you are approaching a home sale without any help you should be prepared for a lot of time commitment and a lot of self-organization. The only way to make this process easier is to have the right expertise on the subject. Learn more about selling a house (external)!

Determining the value of real estate – this is how experts proceed

What are the exact criteria for determining the value of a property and how exactly do appraisers proceed when preparing the appraisal? In general, according to § 194 BauGB, the market value should reflect the price that would have been achieved in the normal business year at the time of the determination without regard to unusual or personal circumstances. In order to determine this value, experts are guided by various criteria:

The ground value

The standard land value is probably the most important criterion for determining the market value, as it is the basis for its calculation. The standard land value indicates the value for one square metre of undeveloped land in the respective standard land value zones.

The structural and technical condition of a property

The second important criterion is of course the condition of the property. This includes not only the materials used, such as building materials, wiring, pipes or electrical systems, but also the age of the property and the materials. In addition, extras such as outdoor facilities, carports, gardens and garages can have a positive effect on the valuation and reinforce a positive assessment.

The location of the properties

On the one hand, the location of the property includes the infrastructure of the nearby surroundings, such as transport connections, shopping facilities, but also connections to doctors or hospitals. On the other hand, trendy locations have an advantage, especially in large cities. The higher the popularity of the neighbourhood, the higher the value of the property there.

The energetic state

First of all, of course, the presentation of the energy certificate is necessary. This shows how high the energy consumption is. The higher, the worse. In addition, how high quality and new the insulation of the outer walls and the roof are. These significantly determine the energy consumption and the energy costs increase enormously with poor insulation.

The degree of development of the property

Also important for the value of the property is the degree of development. This means that it must be checked whether the property is connected to important networks such as the water system, the telephone network but also the electricity. Of course, it is an advantage if the property is connected to all important networks.

Contaminated sites on the property

Contaminated sites on the property are of course not advantageous for the property, as they have to be taken over by the new owner. Such contaminated sites are noted in the land register and negatively affect the appraisal, since more costs come to potential buyers.

The current market situation

The price of a property is always determined by supply and demand, which is why this criterion also plays an important role for the expert. Here, sales data from comparable properties in similar locations are used and compared with the data for the property under review.

The right presentation – this is how you put your property in the right light

The right advertisement is the be-all and end-all for the self-marketing of a property. But other aspects must also be taken into account. If you approach a house sale without help, you should be prepared for a high expenditure of time and a lot of self-organisation. This process can only be made easier by having the right specialist knowledge on the subject.

The advertisement – correct wording, the pictures and the first impression

There’s nothing worse than your ad getting lost in the shuffle. Short, sober descriptions bore potential buyers and are uninviting. Therefore, pay attention to a loose but still serious formulation already in the title. To achieve this, you should use language that is as rich in imagery as possible, which arouses emotions and thus attracts attention. Think about which headline you would stick to yourself. Special advantages of your real estate can be emphasized thereby by formulations, like ‘elegant old building with stucco’ or ‘sun-flooded south terrace’, because you work enthusiastically and invite the Immobiliensuchende directly. Try to attract the buyer already with the headline, so that he continues to click on your ad.

The text of the advertisement – exact description and mentioning of the advantages

Once the potential buyer is on your ad, two other factors can convince them of the property. The text of the ad and your pictures. In your text you should explain important key data of the property as well as object criteria. This includes the number of rooms, district, balcony, fitted kitchen, floor, but also full bath or basement rooms. Describe the location of the apartment, the advantages and also name the equipment as precisely as possible. This includes kitchen equipment, heating systems but also other objects that will remain in the property. In the course of this, mention the costs for the compensation payments for existing equipment and brokerage fees. Also important is information such as rent, service charges and the size of the apartment in square meters.

The images – the be-all and end-all of a good ad

Probably the most important factor, however, are the pictures. A buyer naturally wants to see as much of the property as possible to get an idea of whether the property could be something for them. To take great pictures of your property, there are a few things you need to consider. First and foremost, of course, the rooms should be tidy and clean. You should make sure you take the pictures in daylight, so that the rooms can really be seen and buyers can assess how much daylight falls into the rooms. Your cover photo should be the most expressive and represent the best thing about the home. The most beautiful room, the roof terrace, the open kitchen or maybe the bay window with a view. Pictures of all rooms and if available the garden/balcony/terrace, an exterior view and above all a floor plan should never be missing. The floor plan should never be missing, because the potential buyers get an impression of the size of the individual rooms to each other and can see the layout of the rooms better.

Buying, selling and investing – Immobilien Magazin

You can find out more about real estate in the Real Estate Magazine.

• Apartment for sale? All about the topic: Selling a condominium
• Real estate valuation and appraisal? Ask the experts: IHV Broker & Valuation (external)
• Selling or renting? Earn money with your apartment: rent it out or sell it?
• Want to buy? Here are our tips on buying your first property
• Buy and live? Our guide to buying an apartment
• Retirement Tip: Got a few euros saved up? Read more about: Real estate as an investment

House forms at a glance: List

In the real estate market, there are a lot of different types of construction. Both in the field of apartment and houses, there are many forms and types according to which a property is designed. These are divided into different formats. We have clearly listed some of the most common house and apartment types for you here. You can find more information about the respective property type in the corresponding article by clicking on the corresponding link.

Overview of house types: from bungalow to prefabricated house

Here you will find a list with an overview of all common house types. The linked article provides you with more information about the respective house form, introduces you to characteristics and definitions and you also learn which house type is suitable for whom and why. In addition, we introduce you to the advantages and disadvantages of the respective house form in the associated articles.

• Bungalow
• Semi-detached house
• Single-family house
• Half-timbered house
• Holiday home / weekend house
• Beach house
• Prefabricated house
• Country house
• Massive house
• Terraced house
• Villa
• Low-energy house
• Zero-energy house
• Passive House

The legal basis – notary, land register and the purchase contract

Selling a home is a big decision with many legal procedures, contracts and requirements involved. As a homeowner, you should be well informed in advance about what to expect and what you need to keep in mind so that you come out of the deal profitable. For the uninformed in the field, there are many legal basics to consider and especially small stumbling blocks that should be avoided at all costs.

Learn more about the legalities of selling a home from the experts at IHV!

The notary – legal person supervising the purchase contract

The tasks of a notary is to regulate the sale of real estate as an impartial legal authority in such a way that all parties are satisfied and all possible points of dispute are avoided or settled from beginning to end. The notary draws up a public deed (the contract of sale) in which all the necessary legal issues are settled transparently and clearly.
In addition, the notary certifies the real estate purchase contract. Section 311b of the German Civil Code (BGB) stipulates that all legal contracts relating to land, assets, estates and real estate must be notarised. Another task of notaries is to ensure the protection of the buyer and seller. For the legal protection of the buyer, the notary reserves the property for the buyer in the land register as a priority notice, so that the seller cannot sell the property to someone else at short notice. For the legal protection of the seller, the notary arranges for the final transfer of ownership in the land register as soon as the buyer has actually paid the purchase price.
Notaries additionally ensure immediately enforceable claims. This means that the claims set out in notarised contracts are immediately enforceable. Thus, in order to execute the claims, it is no longer necessary to file an extra complaint with a court, but a bailiff can be commissioned immediately. This takes place, for example, if the purchase price is not paid. In addition, a notary explains all unresolved legal issues in a real estate sale. He must explain all legal and juridical questions to all contracting parties so comprehensively, understandably and sufficiently that a documentary registration of the actual will of both parties is possible. You are obliged to do this by virtue of your public office.

The costs incurred by the notary are always the same, because the notary fees are regulated uniformly throughout Germany in the Court and Notary Fees Act (GnotKG). Should a notary seek to regulate costs in a different way, this is ineffective, as this is prohibited by law. This applies to both cost reductions and cost increases.

The purchase contract – the most important points must be regulated

The contract of sale is the legal basis on which a house sale is built. Depending on the case, a purchase contract always looks different, contains more or less regulations, depending on what the parties have agreed. A contract of sale is a complex and extensive contract, which holds many legal ambiguities and also traps for one or the other. The implementation can also take quite some time. Sometimes up to 8 weeks pass between the signing of the contract at the notary’s office and the transfer of ownership in the land register. This disparity between the transfer of the purchase price, the change of ownership and thus the change of use and encumbrances and the final change of ownership and handover raises further legal issues in the sale of a house, which must be regulated in detail in the purchase contract.
The key points that should be covered in any purchase agreement are as follows:

• Which object of purchase is being sold?
• Who is selling to whom?
• What all is sold with it? (Fitted kitchen, property,…)
• How is it sold?
• How does the payment take place? (Cash, bank transfer, …)
• When is the transfer date?
• What is the breakdown of utilities and maintenance costs?
• How are the development costs regulated?
• Are there any possible warranty claims?
• What is the condition of the object?
• Does the object have defects?
• Which permits are available and which are missing?
• Cost allocation
• Authorisation of the notary’s office

The 6 most common mistakes – how to avoid stumbling blocks

Most home sellers are rather inexperienced in the field and don’t know where to start. They often snap a few pictures and post them on a real estate portal. However, homeowners don’t know what to expect, what to look out for, and what all to expect. To prevent this uncertainty, the most important thing to do before selling a house is to inform yourself and seek help from experts in the field.

A broker is excluded from the outset

Of course, it is also possible to successfuly complete a property sale without an estate agent. So before you decide for or against an agent, consider what makes the most sense for you in your situation. An estate agent can take a lot of the work and time out of selling a property. In addition, he advises you in financial as well as in marketing-technical questions. So ask yourself the questions:

• Do I have the time to organize, accompany and complete the entire house sale on my own?
• Is my level of knowledge and professional expertise really sufficient to successfuly complete the sale without a broker?
• Can I coordinate the sale on my own in the fast-paced, regional and targeted real estate market?

You should be aware that selling real estate requires a lot of time, organisation and expertise. An estate agent receives a commission on a successful sale, but this can be set out in an agency agreement. In addition, the agent will then take over work from you, such as the correct advertising of the property, the arrangement and conduct of viewing appointments, the preparation of purchase contracts and the presence at the notary appointment. You have thus permanently someone competent with sufficient expertise at your side, who can advise you in all matters.

You are unprepared for viewing appointments

Potential buyers, are faced with the decision to make a big investment, or not. They want to be on the safe side and be 100% sure about their decision. In order to complete the house sale successfuly, you should give potential buyers as much security as possible. At a viewing appointment, you should therefore be prepared for many questions from buyers and have a good answer to all of them. Often these will be about the condition of the house – how old are the windows / doors? When was the last renovation and refurbishment? What kind of insulation is there? How much are the service charges? and and and – be prepared for all these questions and find out exactly about your house from the outset. Ignorance can unsettle potential buyers or be an excuse to drive down the price. Also, be open with appraisers and understand that your buyers just want to play it safe.

The real estate market value is unknown to you

Every homeowner remembers how much they paid for their house and how much renovation, refurbishment etc. cost. However, it often happens that the value of the property differs from the original purchase price, as property prices are determined by supply and demand. So before you put your property up for sale, you should know the value of it. You can have the property value estimated by an appraiser but also by a realtor and thus know better in what range you can move in the price. Small defects in the house can lower the value of the property and be a reason for potential buyers to depress the purchase price. Therefore, before selling, consider whether you can have minor defects repaired beforehand and thus demand a higher selling price. However, appraisers or estate agents can also help you with this decision and assess whether such an investment is worthwhile.

They are not willing to negotiate

Of course, as a seller, you want to sell your property as profitably as possible. Opposite you, however, is a buyer who is happiest to record a profit at the end. So don’t ruin your chances of buying a house by being unwilling to negotiate, but also accommodate your buyer. There is only one thing that helps in negotiations and that is good preparation. You should consider from the outset, in which framework you can move and what is the absolute minimum for you. You should also come up with good arguments to justify your selling price. This includes, for example, a good infrastructure, the location of the house or even special advantages of your property. An estate agent experienced in negotiations can also help you prepare for a successful negotiation or even support you on the spot. Stubbornness can spoil a lot of things for you and drag out the negotiations unnecessarily. Approach each other and find a price that both parties are happy with.

Your exposé gives a false impression

The exposé is one of the most important things in the successful sale of your property. The exposé is the first thing a potential customer sees and should therefore make the perfect first impression. A bad exposé can even put a spanner in the works of the most beautiful house. What you should definitely pay attention to are good pictures. It helps to have these taken by a photographer, but homemade pictures can also look great. Make sure the pictures are taken in daylight and that the room is easy to see. In addition, it should be tidy and clean so that the potential buyer feels immediately comfortable and can imagine living there. Take pictures of all the rooms and preferably also of the floor plan so that the buyers can get a clear picture of the property. Pictures of the garden or special features of the house also look good. Be honest in the text of your exposé. Do not give the customer false hopes or exaggerate, because this will only lead to disappointment at the viewing appointment.

You do not properly review the purchase contract

The purchase contract and the appointment with the notary are the last steps on the way to a successful house sale. At the notary appointment, the purchase contract is read out again by the notary and both parties sign it. After this appointment, the contract is legally binding and the sale is completed. Before this appointment, you should check the contract of sale thoroughly and be clear about all the points noted. If you are unsure, consult an estate agent in advance who will go through the contract and advise you. You can always ask questions at the notary appointment itself, but the notary will not advise you. He is only responsible for ensuring that the contract is legally correct. To be sure that there are no hidden uncertainties, it is better to have the contract checked in advance.

The house purchase – broker, commission & loans

When first thinking about buying real estate, many questions immediately arise. What is the best way to proceed? Do I need a real estate agent or should I search on my own? How big should the house be, how many square meters and rooms does it need? In which area do I search and above all how much budget do I need? We will now get to the bottom of all these questions.

Learn more about buying a house at IHV!

Requirements – the way to your dream property

In the first step on the way to your dream property, you should first consider what requirements you have for your home. How many rooms do they need and how many square meters should their house and their property have in the best case? Of course, they should also be clear in which area they want to move and adjust their needs according to this scheme. A house in a city will be more expensive than a house in a suburb or in the country. Do you need a school nearby or should a supermarket be within walking distance. Do you want a garden or a child friendly environment. Of course, you should also think about the exterior of your property. Do you prefer a certain style of house, should the house be more modern or more Nordic style? After you have clarified these basic questions and know how you imagine your dream property, you can move on to step 2.

Financial planning – financing options and requirements

The financial planning takes a large part in the path to owning a home, because with construction financing and loans you enter into a large commitment that can span several decades. Accordingly, anyone who is thinking of buying a property should first check their own financial resources. This includes, for example, whether property or a building savings contract is already available and how much it is. Also should be checked which funds can actually be called in the short term. In order to obtain a loan from a bank, it is recommended to have at least 10-20% of the required sum (purchase sum and ancillary purchase costs) as equity capital. The higher the equity, the better.

Of course, personal circumstances also play a role in financial resilience. These include, for example, family planning and the desire to have children, the employment situation of the partners and, of course, marital status. You should consider whether further major financing is planned for the next few years and how this will affect your financial situation. It is also important to determine the permanent expenses in order to be able to include them in the planning. These include fixed costs such as insurance and ancillary costs, but also holidays, car purchases or provisions for financial security.

The next important point is the repayment period, as one should think about how long they want to repay and hence how long they want to be in debt. It is recommended to plan the financing in such a way that the debtors are debt free by the age of 60. However, this also depends on how high the repayment rate can be. The shorter the repayment period, the higher the repayment rate, but there are also slightly cheaper interest rates for shorter loan periods. As a rule of thumb, with a repayment rate of two percent, the repayment period is approximately thirty years.

Once these questions have been clarified, it is time to compile the documents for the banks, because they need many different documents in order to be able to apply for an offer in the first place. Such documents include monthly income, which is evidenced by the income tax assessment, as well as a list of regular expenses and current assets. Also, at this step, they should already have a purchase property and, in the best case, cost estimates, because the more accurate and comprehensive the documents they provide, the faster and better the bank can make an offer. Compare many different offers, from several credit institutions as there can be many differences and they can thus find the best offer for their project.

Search – brokers, patience and ads

There are many different ways to approach the house hunt. Of course, a real estate agent has many advantages, because he accompanies them from start to finish on their search, knows insider tips and can help them with the decision with words and deeds. If you prefer to search on your own, there are many online portals, such as ‘Immonet’ or ‘Immobilienscout24’ where you can view a large selection of properties. Let your friends and acquaintances know that you are looking for a house, because a lot can happen through contacts. When viewing a property, there are a few things you should bear in mind in order to gather as much information as possible about the property. First of all, you should only visit the property during daylight hours, as you will be able to see defects and faults much better than in artificial light. Take a close look at the surrounding area and pay attention to possible noise, smells and the parking situation. The infrastructure around the property should also be explored carefully to compare if it fits their requirements. Talking to the neighbours can also uncover helpful information.

At the property itself, they should pay attention to the condition of the facade, roof and attic, as well as the basement rooms and windows. Water stains on the walls and ceiling, outdated windows with low insulation or a leaking roof can be discovered during these observations. Take pictures and of the property and any faulty areas. Of course, the exposé already tells you a lot about the property, but not all questions will be answered here. Create a list of questions so that you can find out as much as possible about the property during the viewing. Possible questions could be for example the following:

• Do renovations or refurbishments need to be carried out?
• What is the condition of the roof and windows?
• What heating is in the property, how old is it and what insulation does the house have?
• Useful here is always the energy certificate, so ask them explicitly for this.
• The floor plan with drawing of load-bearing walls to be able to plan a possible reconstruction.
• The statement of operating costs
• Check the incidence of light and the cardinal directions, for example, to find out when the sun shines into the garden.
• Ask them the reason for the sale and the duration of the vacancy
• Do fixtures such as kitchen, cupboards, etc. remain in the house and do they have to be taken over?
• Visit different objects to create a selection and to be able to see different offers. In case of uncertainties, such as damp walls, etc., it is better to consult an expert and let him assess the whole.

Legal basics – purchase contract, land register entry & Co.

To buy a house, legal ways must also be followed and many standards must be observed. In order to do this correctly and make the house sale also right some things must be followed.

Lots of helpful tips on the legalities of selling a house!

Notarisation of a purchase contract – the notary helps with land register entry and more

The purchase contract fulfils the standard that according to § 311b BGB a notarial certification must be present if the ownership of a property or rights equivalent to real property is transferred. However, the transfer of ownership is not valid after signing and notarial certification, but only after registration in the land register.
First, a notary drew up a draft contract of sale that should suit both sides. This is fixed some time before signing so that both parties can check it. During the notarization, the notary reads the contract again and both parties can ask questions. The notary also informs about the consequences of the sale of the house and explains the further steps of the transfer of ownership.

Until registration in the land register, the buyer’s claim to the property is secured by the registration of a so-called priority notice of conveyance in the land register. This ensures that the transfer of ownership of the property can be processed safely. The transfer of ownership in the land register is only initiated by the notary when the purchase price has been transferred in full. Likewise, the tax office must confirm with a clearance certificate that the buyer has paid the real estate transfer tax. From which point in time the property is transferred to the buyer, i.e. the “economic transfer” takes place, is also determined in the notary contract. From this point on, the buyer bears all costs and is liable for the property. However, he is not the final owner until the transfer of ownership is complete and his name is entered in the land register.

Transfer of ownership – from seller to buyer

By entering into the purchase agreement, not only does ownership of a property pass to the purchaser, but the purchaser also assumes all risks, taxes and encumbrances associated with ownership of the property. This allows the new owner to do with the property as he or she sees fit. The transfer of possession is precisely defined in terms of date and is completely independent of the new owner’s entry in the land register, i.e. the transfer of ownership.

Building money & costs – what you have to pay when buying a property

After you have decided to buy your dream property, the question of the right financing arises. Here you should inform yourself about all the options, because you will have to live with the decision about financing for the next few years. Especially for inexperienced a real estate purchase is a big step, which is why you should be especially sure that you find the right offer.

Learn more about construction money!

Building money – 6 tips for successful financing

• Tip 1 – Determine your initial situation

  Before you start your search, you should determine your budget and your requirements in detail. This includes the living space, the number of rooms, the construction and equipment, the location, the architecture, the local transport and the distance to important places such as the workplace or schools. Once you are sure of your requirements, clarify your budget. How much equity can you raise? It is also important to determine what your maximum future monthly costs may be and how much you can really afford. To do this, compare your current monthly fixed costs and expenses. Once you’ve created an overview, you’ll have a rough idea of what to look for.

• Tip 2 – Include a redemption payment

  Rent and interest are real costs, but when you make a repayment, the money is used as a kind of installment savings plan. This means your loan debt goes down, but your net worth goes up. So you should also include the repayment you have to make on the loan each month in your calculations. Think of how many years you would like to have the debt paid off in and calculate with that figure. Remember that the rent you pay each month is not an investment in value, while the repayment will still increase your net worth each month.

• Tip 3 – Compare as many offers as possible

  The more listings you request and compare, the more choices you have and the more likely you are to find your dream property. Do not be afraid to search extensively and look at many properties. Search not only on property portals but also in newspaper listings, ask your friends and acquaintances and always keep your eyes open. The effort you put into your search will definitely pay off for you in the long run.

• Tip 4 – Choose long-term financing

  The important thing with long-term financing is that you secure the low interest rates for as long as possible. Preferably for the next 15 years or longer. This guarantees you a solid repayment rate. Depending on the purchase price, use 20% equity or less and choose a classic annuity loan. With this loan, the repayment should be about 2%. If this is higher, your return is also higher in the event of inflation. But if it is lower, you do not meet the certain repayment amount that you need, so that you do not get into trouble with a follow-up financing. If you also take out another loan, such as a subsidy loan, the terms must match, otherwise they can threaten early repayment penalties in the event of a sale.

• Tip 5 – Get multiple financing quotes

  Of course, the easiest and simplest way is to simply take out the loan at the house bank and handle the financing through it. However, there are big differences in the financing offers from different banks. For this reason, you should get at least two different offers, if not more, to find out which bank offers you the fairest and best conditions. Never lose sight of the fact that the loan is for a long term, so an interest saving of 0.2% per year can make a huge difference to you.

• Tip 6 – Do not be afraid of debt

  Going into debt is a big decision, but if you choose a ‘good debt’, you actually gain money in the end. Home finance is one of these ‘good schools’ as you save on housing costs and protect yourself well against inflation. You end up gaining real wealth and not losing any, like investing in consumer goods. For this reason, don’t repay too quickly and stick to an initial repayment of 2% and a term of 15 years. That way, you won’t have to worry about rising interest rates either.

Follow-up loan – debt rescheduling and long-term planning

When financing, it is important that you prove to your bank that you are a future borrower. For borrowers who have already proven for several years that they are able to service the loan according to the contract, banks are happy to offer better conditions. At the beginning of a loan, the monthly installment is usually a large part of interest and only in the course of time, the share of repayment is larger. In a debt restructuring is therefore usually a part of the loan already repaid. For the banks this means that the loan-to-value ratio is lower than with an initial loan and also the consultation effort is lower, because the customers already know how a financing runs and what is expected of them. The bank therefore has less work to do with the customer and therefore the preparation of the offer is easier and takes less time.

So the banks have good reasons to woo debt reschedulers, as you can gain advantages from it. But also for the borrowers a debt restructuring is often more favorable. Depending on the financial market situation, interest rates can be so favourable that it is more worthwhile for you to reschedule an old loan than to continue paying it off at the old conditions. Today, the interest rates are often better than at the time you took out the financing. So if it can be assumed that interest rates will rise in the future, it is quite advisable to choose a long fixed interest rate and to secure good interest rates. Thus, you achieve a rapid adjustment of interest rates in the event of early termination of the old loan.

If you want to do everything right, start thinking today about how they will approach rescheduling your loan in a few years to secure good follow-up financing. These are even more worthwhile doubly if providers take over the costs of the debt rescheduling for the borrower.

Incidental costs – hidden costs when buying real estate

When a purchase contract is signed, the financing is already under wraps. However, the additional costs are often underestimated. The bills from the estate agent, notary, land registry and tax office come as soon as the loan is fixed. This is often set too low because of this. 20% ancillary building costs should be included in the loan at least in addition to the purchase price and are quite realistic. The overview shows the 4 biggest additional costs that you can expect when buying a house.

Fees – Notarisation of the purchase contract

The fees for the notary appointment are probably one of the largest items in the incidental costs of buying a house. Although the notary fees are fixed and may not deviate from them in any direction, they are also quite high. As a rule of thumb, about 1.5% of the purchase price is fixed – and that’s just for signing the purchase contract. So if you buy a property with a purchase price of 100 000 Euro, there are fees for the notary of 1500 Euro, which mostly have to be paid by the buyer. The exact fees for notaries in Germany are set out in the notarial fee schedule, but can also be calculated online.

Taxes – Real estate transfer tax for the tax office

As soon as the contract is signed at the notary and the purchase agreement is notarised, the buyer receives mail from the tax office. Next, the buyer is required to pay the land transfer tax. This tax varies slightly. Normally it amounts to 3.5% of the purchase price of the property in Germany. In some federal states, such as Hamburg, Berlin and Saxony-Anhalt, it is 4.5% of the purchase price. So for a purchase price of, say, 100,000 euros, you will pay another 3500 / 4500 euros for land transfer tax. This debt should be paid immediately, because only when the amount is received by the tax office, this issues the so-called clearance certificate. This is mandatory in order to make the transfer of the new owner in the land register. This is arranged by the land registry and costs fees again, which are comparatively low.

Commission – brokers calculate your share

If you buy a property or a plot of land through an estate agent, you must of course include the agent’s commission in the overall calculation. You will usually receive the invoice from the estate agent directly after the transaction has been recorded by the notary. How high the commission is varies and depends on various factors, such as the region. Usually it varies between four and six percent of the purchase price of the property. With a property purchase price of 100,000 euros, you pay between 4000 and 6000 euros only for the agent. However, it is important to know that it is well worth negotiating the broker’s commission, because this is known to have a large margin. A recommended total commission of 3.48 percent including VAT is a recommendable and realistic value.

Advantages & disadvantages – the purchase of real estate

The purchase of real estate also offers advantages and disadvantages. Depending on the individual life situation, different scenarios offer themselves more or less. However, a house purchase is always a large investment and should be well considered and completely thought through in any case. To help you decide, we list some of the advantages and disadvantages of buying real estate.

Find even more pros and cons to buying real estate!

Advantages: no rent, security and your own four walls

Buying a house can offer many advantages. By buying a house, you live in your own four walls, you are the master of the house and can design it according to his own wishes. In addition, you have no monthly rent that you have to pay and as long as the loan is paid off, there are only monthly utilities. A house also offers a lot of space and, depending on your life situation, plenty of room for family planning and hobbies. In addition, changes can be made in your own house at any time if you want to and you do not have to clarify this with a landlord beforehand. Another advantage is the security for old age, because even if the pension should not be so great, you can continue to live in your home and do not have to move to smaller or cheaper conditions. A house is also a part of the inheritance for the next generation and represents a value investment, because spent rent amounts are lost and cannot be passed on to the children and grandchildren.

Disadvantages: Debt and personal responsibility

The disadvantages of buying a house include, for example, the debt and borrowing that usually accompany it. Likewise, from the moment of purchase, one is responsible for the property and must have repairs, changes, etc. carried out themselves. In addition, they have a lot of space and room, which must also be maintained and thus, for example, work in the garden or cleaning the house and consume time. In addition, with a house they are tied to one location and cannot just move to another city or live abroad for a while, as they are entering into a commitment with the purchase.

House forms at a glance: List

In the real estate market, there are a lot of different types of construction. Both in the field of apartment and houses, there are many forms and types according to which a property is designed. These are divided into different formats. We have clearly listed some of the most common house and apartment types for you here. You can find more information about the respective property type in the corresponding article by clicking on the corresponding link.

Overview of house types: from bungalow to country house to prefabricated house

Here you will find a list with an overview of all common house types. The linked article provides you with more information about the respective house form, introduces you to peculiarities and definitions and you also learn which house type is suitable for whom and why. In addition, we present the advantages and disadvantages of each house type in the corresponding articles.

• Bungalow
• Semi-detached house
• Single-family house
• Half-timbered house
• Holiday home / weekend house
• Beach house
• Prefabricated house
• Country house
• Massive house
• Terraced house
• Villa
• Low-energy house
• Zero-energy house
• Passive House