House purchase / Bridge financing

Why is the sum so important to you now?

Because the sum determines whom you can approach as a financier.

And as I said, change of use is not a problem!

If it is not a problem, why doesn't your bank pay the purchase price? Because it is a problem for banks. As a customer, you can say a lot, but only facts are believed, not your stories – that is how a capital provider sees it (whether a private individual or a bank). Once again to my questions. What security do you provide for the bridge financing and what are you willing to pay? Small amounts can, for example, be consumer loans. For larger amounts it becomes more difficult. When our clients come with mezzanine providers (as equity substitutes), the interest rates range between 6 and 15%. Plus 1-2% processing fee.

Can / does the seller not want to wait? Not even against amount X as compensation for expenses. From a certain volume onwards, you won't get interim financing.

since the approval from the local building authority for the change of use must now be available. Unfortunately, this is delayed due to a high rate of illness at our building authority.

Annoying situation. What does the building authority say about when a change of use can be expected? Are we talking days, weeks, or months? Is there even a risk of rejection in the worst case?

Arrange a down payment of €50,000 or whatever you can raise at most in a short time (through a consumer credit).

Addendum: What happens if you do not pay? Is the purchase contract canceled, or enforced by compulsory execution? What exactly is written there?

maybe someone of you can recommend a bank or also a private person who would be able to provide bridging finance as soon as possible. Thank you already for your effort.

If you found this private person on the internet, please give me their contact details, I could always use money.

I do not want to make light of the problem you are currently facing - not at all - but you will have to go looking for a financier yourself. Maybe talk to the building authority in person again or contact the seller and try to reach an agreement with them.

The amount in question is also important. Within the family or through a guarantor (who - as I see it - can usually only be recruited from the family, friends, or acquaintances) maybe a few tens of thousand euros can be covered, but rather improbably a sum of several hundred thousand euros. Even if these were available, you would have to answer and prove all the questions already asked and certainly many more.

I wish you to get through this with only minor damage!