How to best approach a project when the existing house is the equity

probably does not want to wait until our new house is built.

“People” actually do it in such a way that they make the notary contract with a fixed handover date in the more distant future (e.g. about a year plus or minus). Most buyers also have a notice period to comply with or still need to sell. During the time gap, one can rent a holiday apartment for several months.

The existing house should be contributed as "equity".

I see the problem that parents-in-law should/want to hand over their retirement provision/assets to the children just like that, as it appears here. The “we” does not have the value here, since it concerns you as builders. Or you already have other constellations in mind… but it would have all financial (tax) implications.

How does one most sensibly determine the budget for the new build.

Calculate, calculate, calculate. For that, gather information, read up, look for an expert, etc.

Is that really your experience or was that meant ironically? Do buyers like to wait until moving in after paying the purchase price?

Done it myself three times in the last 15 years. Periods between six and 24 months. Absolutely no problem. So not meant ironically.

Done it myself three times in the last 15 years. Periods between six and 24 months. Absolutely no problem. Not meant ironically.

I have read that so often in the forum.
We only had a few months for the house sale. Sold in spring and wanted to do the handover by mid-July.
The notary explained to us that this was very unusual and that the buyers had to be informed that they would be making an advance payment if they pay beforehand, but the entry in the land register would only be changed at time X.

How does something like that work for 24 months? Was the land register then changed and did you basically regulate the handover time differently in the notary contract? Our notary couldn’t offer any wording for that.

How does something like that work over 24 months? Was the land register then changed and did you basically regulate elsewhere in the notarial contract when the handover is?

That is what the notarial contract is for, to specify a date for the handover. Until then, you are still listed in the land register because the property still belongs to you.

How does something like this work over 24 months? Was the land register then changed and did you basically arrange elsewhere in the notarial deed when the handover is? Our notary could not offer any wording for that.

In the notarial deed, a purchase price due date is set as usual (e.g. 30.10.2022). Then the purchase price is paid and accordingly there is a clause in the purchase contract called "compensation for use." Like a rent (just should not be called rent, because otherwise tenancy law applies). And of course, a date is also set for when the "user" must leave the property (e.g. 30.10.2023).
The buyer then becomes the owner directly – unlike what wrote. No buyer agrees to wait until payment to become owner or (even worse) to pay now and only become owner after many months or years. That does not fit a reasonable financing.

The buyer then also becomes the owner directly - unlike what @ypg wrote.

Since you mention it: I was mistaken! Sorry. Money was transferred, consumption costs were borne by the user (us), and the move-out was ultimately much later than the money transfer. ... It’s been such a long time :rolleyes: There is also the "everything in the next/one year" alternative.