Desired plots are sold quickly - Is a preliminary contract sensible?

  • Erstellt am 2014-12-11 18:30:51

Majo83

2014-12-11 18:30:51
  • #1
Hello community...

So, I have a problem with some plots of land, or rather, how the hell do I manage to actually get the chosen plot?
Here’s the story. We have now selected a plot for the second time and met again with the owner or the agent.
We talked a bit about soil reports, notary and HA, and everything was fine.
Now two days have passed (bank check, etc.) and they actually call to say it has been sold. (as I said, twice - so far)
The plot was completely free for several weeks and not immediately gone (like usual).

So now to my question.
Does anyone have experience with a preliminary contract? What does it normally cost, or is there another way?

Thanks for the answers.
 

klblb

2014-12-11 20:51:58
  • #2
It can be bad luck, but you only showed non-binding interest. If it suddenly disappears after 2 days, then a competitor was already in longer negotiations with the broker/owner.

To make your interest appear more binding, say very quickly that you want to buy and request the notarial purchase agreement. This sets a process in motion at the notary that the owner prefers not to run in parallel with several interested parties. The purchase contract must be provided to you two weeks before the notarization.

Within this time you can think more deeply about whether you even want the property and also clarify things with your bank. Your banking matters are none of the owner’s or broker’s concern. If asked, say you have liquidity or the bank is ready.
You can always back out of the property purchase as long as you have not signed anything at the notary, that is, also during the notarization appointment BEFORE the signature.
 

Bauexperte

2014-12-13 03:46:53
  • #3
Hello,

You can try it as described by klblb. However, I think that it mostly won’t work without a signature on a reservation contract.

A preliminary contract is always a "hot item" when it involves costs; in the range up to €300.00 from my point of view it’s okay, beyond that it should be treated with caution. Caution is advised because these costs are rarely or never refunded if the reserved property is not purchased.

You write above that you only wanted to clarify the financing after you were interested in the property. Why don’t you put this important matter first? Every reputable financing broker/banker will be able to tell you without an offer being presented up to which amount you can finance under which conditions. Only when you know your financial background exactly, does it make sense from my point of view to look for a property and/or building partner. In this setup, you can also make a purchase commitment more confidently and then sign it bindingly when a property shows up again that you like.

You can also make a property purchase subject to financing and with a free right of withdrawal. This means, if your bank unexpectedly does not cooperate, you can get out of the purchase commitment without costs for you. But for that, the property seller has to cooperate.

Rhenish greetings
 

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