House purchase - What financing terms can be expected?

Just get a financing confirmation from the bank, that's how we've always done it.... You could then present this to the seller.... you can later precisely examine the exact terms of the loan with the bank....

Hello
Thanks for your numerous tips!!

I was able to secure 2 appointments for tomorrow, with a bank and an insurer.

I'll just have it calculated tomorrow. I can probably post the results. Surely some have more experience on what makes more sense.

I actually don't want to terminate the building savings contract with immediate payout, because there is a 2% penalty interest. If anything, I would aim for bridge financing if it doesn't cost more than 2%.
Otherwise, splitting the building savings contract sounds most reasonable, but I have to talk to the building society about how the possibility exists to "pump up" my equity ratio.
One of the two appointments is also tomorrow.

Yes, I need the financing confirmation for brokers, the other party does too.
Whoever provides one faster "wins"
I first need at least one confirmed financing to go into more detail with the seller, which financing I then choose doesn't matter.

I have another question:

This doesn’t quite fit into the financing area (partly it does) but maybe someone who reads my topic can quickly help me.

I spoke with the real estate agent today, told him my decision that I want to buy the house.
He said that the seller doesn’t have an apartment to move into yet and needs some more time before moving out of the house. Also due to his personal situation which I don’t want to go into now.

However, we would already prepare the purchase contract (for the safety of both parties), I said I don’t mind since I am still living rent-free and can wait a bit longer. (We still need to agree on the deadline stated in the contract.)

But how does it work with the financing?
If I receive confirmation next week, but the money is only supposed to be transferred (let’s say) in September?
Does that even work? Will a bank agree to that?

Thank you very much

I have another question:


But how does it work with the financing?
If, for example, I receive a confirmation next week, but the money is only supposed to flow (let's assume) in September?
Does that even work? Will a bank agree to that?


Thank you

Yes, it's all possible... it's called a provision fee... you conclude the contract now but only call up the purchase funds later...

Back then, we unfortunately had to live in our condominium a little longer because the house wasn't finished. We simply paid the buyer of the condo 2 months’ rent, so you could do it like that too...

But we would already prepare the purchase contract (for the safety of both parties), I meant that I don't mind, since I am still living rent-free anyway and can wait a bit longer. (we still have to agree on the key date stated in the contract)

We had the notary appointment in December 2016. The purchase contract will define when payment is to be made and when the handover takes place.

The priority notice of conveyance and land registry security took place beforehand and how all the documents are (meaning the bank had its security).

The actual purchase price payment was in the last week of May. The handover was on June 1, 2017.

But how does the financing work? For example, if I receive a confirmation next week, but the money is only supposed to be paid (let's assume) in September? Does that even work? Will a bank agree to that?

Sure; the issue is the interest-free provision period. Six months is actually standard at purchase.

I would not pursue rent or similar. That only makes it legally complex.

But the purchase price could be reduced appropriately. It also saves a little bit on real estate transfer tax, but above all avoids the tax/legal problems of a tenancy.