Financing / Plot not yet available

Hello everyone,

I need to ask a few questions before purchasing our plot of land, maybe someone has had a similar experience.

We are buying a plot at the end of June for €180,000 (including additional costs), which we will finance with a variable loan of €110,000 to make ourselves independent in financing the house.

Our plot comes from a larger property that is being divided into 4 parts; so far, there is only one entry for the large property at the land registry office. The 4 smaller ones are only surveyed; for notarization, the notary will apply for an independent entry and will register the mortgage...

A friend pointed out that some banks don’t really like this and sometimes only disburse the loan when the mortgage is actually registered.

Such processing can apparently take up to 9 months in our city...

Now thinking further... since we want to be independent and if the first bank, for example, cannot offer a good deal in November, we would have to cancel the mortgage of the first bank (which probably isn’t even registered yet) notarized... and include the new bank with the large sum...

In summary... by the end of the year, we would probably still not have our own entry for the plot, a registered mortgage note, a cancellation, and another registered note that is on the pile of overwhelmed processors...

Do banks agree to something like this and already disburse the loan under this constellation? Or am I somehow necessarily dependent on the first bank until the actual registration is done? Probably, for every requested step, there is a confirmation by the notary...

I hope it’s somewhat clear what I am getting at, thanks in advance for your help...

The magic word is pledging the Auflassungsvermerk. It will cost you a few hundred euros, but the bank has no problem with that. So off to the notary. You will also get this information from the notary. Your situation is not an isolated case.

Where is the problem? The land charge is established and registered on the partial area of the entire property. No new land register sheet is needed for this. It is a daily routine procedure. Alternatively - if you are in a hurry - the notary can create a notarized priority certificate for a small fee, which is equivalent to registering a land charge for the bank. Oh yes, the land charge of the first bank can also simply be assigned to the new bank. Saves costs.

Yup

It is then called "a sub-area to be measured" with the designation of the land register data of the entire area and the designation of the intended size of the sub-area.

Hello,

thanks to you first..

The plot has already been surveyed, but the separate sheet in the land registry office is still missing.

I do not necessarily see the pledge of the priority notice of conveyance as the problem, but rather that it is registered on the sheet of the large plot from which the 4 smaller ones are created.

That is apparently not enough security for some direct banks, because on the plot to be divided, basically 4 banks can be registered.

This is what was passed on to me from friends who had the same problem and only after a separate sheet for the plot was created did the bank make a payment.

Maybe it is the exception rather than the rule.

Best regards