Fundamental questions about financing

Of course, I have also already considered distancing myself from the property. Currently, there will probably be no new plots in new development areas in the region. Thus, waiting would also mean annually rising construction costs and likely rising interest rates at the end of the year/beginning of next year. I would like to explore options for this property. I remain open to all suggestions and ideas.

Good morning,

I miss Rumpelkopf... But apparently the forum mediator here cannot close a deal.

The interest rate under the conditions is, to say the least, cheeky... And yes, with a monthly annuity the nominal and effective interest rates are marginally higher. Briefly about the property. Is the local savings bank only a mediator/marketer here or also the owner?

It is unfortunate that such dependencies arise; one could also complain to the municipality if the savings bank only markets it. However, it is the case that the savings bank likes to subsidize club life and this activity is tolerated. I found the tip to take out a 5-year contract good. However, you also do not know where the trend will be in 5 years regarding refinancing. Possibly taking out a building savings contract in parallel.

Hi,

just a thought experiment, but I don’t think it could work...

01.07. Sign the loan agreement with the bank under the "unfavorable" conditions
05.07. Sign the notary contract
07.07. Withdraw from the loan agreement within the first 14 days and arrange the financing with the favorable provider.
Of course, the land charge would have to be transferred, which also costs, but it might be worthwhile.

Where is the catch, or could it work?

Briefly about the property. Is the local Sparkasse only an intermediary/marketer or also the owner?

Yes, unfortunately the Sparkasse is the intermediary, owner, and sole distributor of the new development area.
The municipality stays out of it because the Sparkasse is the owner and does not sell on behalf of the municipality.
During my conversation with the bank, it was openly said to me that I did not have to buy the property, as other buyers would be found in the short term who would close under the conditions.
Of course, this is seller talk, but unfortunately that is the current market.

Hi,

just a thought experiment, but I don't think it could work...

01.07. Sign the loan agreement at the bank under the "unfavorable" conditions
05.07. Sign the notarized contract
07.07. Withdraw from the loan agreement within the first 14 days and arrange the financing with the cheaper provider.
The land charge would of course have to be transferred, which also costs, but it could be worth it.

Where is the catch, or could this work?

I have no experience with this, but I think the timing won't work.
The Sparkasse could of course arrange it so that there are already 14 days between signing at the bank and the notarization appointment. Notaries surely also have enough to do and a lead time of 2-3 weeks.

Where is the catch, or could this work?

The notary contract will probably include a clause. Furthermore, some legal twist might indeed make a problem for you from the buyer's side.