With our extensive services offered, property market knowledge and experience in Berlin and Germany, we can help you to buy your desired properties either to live in your dream home or for investment.
1. Property Search
Before buying any property, doing a qualified property search is important. Based on your personal requirements and preferences regarding location, property type, size, budget and more we will help you to find your family house, villa or apartment in either old built style or new built style which fits your needs best. If your property is for investment, we can provide you valuable information related to current market value, asset value, potential yield and capital growth.
We will check technical conditions of the property you wish to purchase, its energy performance, construction specification, state of repair, maintenance reserves and previous relationship of tenants and owners.
2. Property Financing
If you own sufficient capital to purchase your property outright, then no mortgage will be necessary. Nevertheless, when it comes to buying a property as either an own home or an investment, most of us often use a financing scheme from lenders.
Our trustworthy banking and lending partners offer extensive financing services which can help you find the most favorable loan conditions. We need to know about your credit rating and financial position such as your possible capital contribution as well as incomes and outgoings on a monthly to yearly basis. Depending on each lender, you may receive loan of up to 55 to 70% of the purchase price. Often the lenders in Germany offer financing terms between 10-15 years.
Above the purchase property price, you need to bear in mind other occurred fees such as:
- Broker commission fee (7.14% for Berlin, 4.5% for Hamburg and 3.5% for Munich)
- Notary and land registry costs (about 1% – 1.5%)
- Land transfer tax (6%)
- Ancillary financing costs
3. Sale Agreement
Once you have found the property you want to buy, the financing for the property is arranged and now you are getting closer to complete the buying process of the property.
In Germany, the purchase of property is subject to German regulations. The sale agreement in the presence of buyer and seller has to be certified by a notary. Hence, our notary partners will help you to check land development plans, construction plans, planning permission, energy efficient certification, certificate of title, community orders and management agreement (if any), ancillary facilities such as parking space and basement, etc. This process takes about two weeks before the notarized sale agreement.
Once all documents are in the right places, together with previously agreed mortgage from the lender, and notice of conveyance in land register, a notarized sale deed is prepared. You can finally sign on the sale agreement. In case you cannot attend the notary office for your signature, you can also appoint a proxy as a representative for you to sign the sale agreement. This requires a power of attorney to be drawn up and signed – either by a German notary or in a German consulate when abroad.
4. Property Management
This applies for investment properties only. If required, we can act on your behalf to manage your entire investment. We qualify renting clients for you, manage facilities and maintenance property fees, as well as regularly monitor and report your rent income performance.
We will also update you about property market conditions and market development for your optimal exit strategies at the right timing if wished.