Caro_
2011-11-25 14:06:53
- #1
Hello,
here I want to report what happened to us so that no one who googles goes through the same. Caution property Munich Fasanerie Sachsenspiegelstr. end of the dead end.
We were offered a property Munich Fasanerie Sachsenspiegelstr. end of the dead end by a developer, building contract signed with cancellation linked to the property and price. So in the end fortunately we had no obligations.
The owner kept saying he needed more time to formulate the contract.
We had everything ready, the discussion with the architect for all changes to the standard semi-detached house, financing (I will report below, further problems) and were waiting for this contract from the property owner.
Finally after 4 months he handed us the contract. A strange contract. We read it, of course understood half and had it checked by a lawyer. Summarized:
* The property was originally twice as large 10 years ago and he halved it and sold one part back then. The offered property was the other half. So far no problem.
* The people who bought part 1 (10 years ago) had problems with the property seller and did not register themselves as builders.
* The building permit for part 1 had the obligation to plant 10 trees growth class I.
* Since the owners did not register as builders, the property seller, who also applied for the construction, is still registered as builder and thus responsible for the planting.
* The contract stated that we must register as builders of the entire property, so also part 1, where terraced houses had been built 10 years ago!!!
Hands off! from this property or be informed in advance.
Our lawyer was astonished, had never seen something like this. He definitely advised us against it.
Summary of the financing.
First the nice financial advisor gave us values for nominal interest rate, etc. but never the whole compilation. Day after day we learned about new 'hidden' costs again. One day I said, 'we continue talking with the woman at the bank, please contact details'. After almost everything was settled, on the phone, the still nice woman told me she definitely needed the draft of the property purchase contract, a bank approval, it would not be possible before that. We signed because she said otherwise the fixed interest period could not be kept. Small print: We should not be informed of a bank approval! Caution. The woman called me one month later and asked where the expected draft was. I: 'The seller is not ready yet, he says he needs a bit more time to finish the draft'. One week later, we received the bank approval for the loan!?!?! signed according to them one day after we sent it. The revocation period had expired they said. I called the woman at the bank, she was no longer nice. I reminded her she said no approval without draft. I stated that we are not willing to pay the loan commitment interest for the property yet. I mentioned the cancellation of the contract. She got angry and said it was too late anyway for that, the deadline was expired, we must take it now. Then I asked if it was possible to change the free months loan commitment interest because we still believed in the property, 'no way', she said. She threatened me 'it will be expensive, very expensive' she said when I said we will definitely try to get out of the contract then. Fortunately the next day a letter came with the 'things' for the notary, which extended the revocation period by 14 days. There we could cancel the financing contract without any problem.
The interest rates have meanwhile dropped and enable us to plan another project, and we gained experience. This fun cost: a lot of time, nerves, illusions, some sleepless nights and a lawyer’s check (600 EUR).
here I want to report what happened to us so that no one who googles goes through the same. Caution property Munich Fasanerie Sachsenspiegelstr. end of the dead end.
We were offered a property Munich Fasanerie Sachsenspiegelstr. end of the dead end by a developer, building contract signed with cancellation linked to the property and price. So in the end fortunately we had no obligations.
The owner kept saying he needed more time to formulate the contract.
We had everything ready, the discussion with the architect for all changes to the standard semi-detached house, financing (I will report below, further problems) and were waiting for this contract from the property owner.
Finally after 4 months he handed us the contract. A strange contract. We read it, of course understood half and had it checked by a lawyer. Summarized:
* The property was originally twice as large 10 years ago and he halved it and sold one part back then. The offered property was the other half. So far no problem.
* The people who bought part 1 (10 years ago) had problems with the property seller and did not register themselves as builders.
* The building permit for part 1 had the obligation to plant 10 trees growth class I.
* Since the owners did not register as builders, the property seller, who also applied for the construction, is still registered as builder and thus responsible for the planting.
* The contract stated that we must register as builders of the entire property, so also part 1, where terraced houses had been built 10 years ago!!!
Hands off! from this property or be informed in advance.
Our lawyer was astonished, had never seen something like this. He definitely advised us against it.
Summary of the financing.
First the nice financial advisor gave us values for nominal interest rate, etc. but never the whole compilation. Day after day we learned about new 'hidden' costs again. One day I said, 'we continue talking with the woman at the bank, please contact details'. After almost everything was settled, on the phone, the still nice woman told me she definitely needed the draft of the property purchase contract, a bank approval, it would not be possible before that. We signed because she said otherwise the fixed interest period could not be kept. Small print: We should not be informed of a bank approval! Caution. The woman called me one month later and asked where the expected draft was. I: 'The seller is not ready yet, he says he needs a bit more time to finish the draft'. One week later, we received the bank approval for the loan!?!?! signed according to them one day after we sent it. The revocation period had expired they said. I called the woman at the bank, she was no longer nice. I reminded her she said no approval without draft. I stated that we are not willing to pay the loan commitment interest for the property yet. I mentioned the cancellation of the contract. She got angry and said it was too late anyway for that, the deadline was expired, we must take it now. Then I asked if it was possible to change the free months loan commitment interest because we still believed in the property, 'no way', she said. She threatened me 'it will be expensive, very expensive' she said when I said we will definitely try to get out of the contract then. Fortunately the next day a letter came with the 'things' for the notary, which extended the revocation period by 14 days. There we could cancel the financing contract without any problem.
The interest rates have meanwhile dropped and enable us to plan another project, and we gained experience. This fun cost: a lot of time, nerves, illusions, some sleepless nights and a lawyer’s check (600 EUR).