Land found. What exactly comes now?

  • Erstellt am 2017-04-25 10:36:02

erdbaerchi

2017-04-25 10:36:02
  • #1
Hello everyone!

I have already clicked through the forum a bit and I am sure this question has been asked many times before, but I haven’t found a 100% clear answer for myself yet. I also hope this is the right place for it.

After a long search, we have now found a suitable plot in our desired district. I always thought I had informed myself extensively, but now that it’s getting serious, I somehow have no idea at all.

We will go to our developer and plan our house on the plot, which we are also getting through the developer. So far so good. I assume the plot will then be reserved for us until we have bought it.

But how exactly does it go on from here? Do I go to the banks with the calculated cost breakdown and see where I get the cheapest loan? So is that the exact next step? I’m somehow unsure about that and afraid the plot might suddenly be gone before we have everything finalized.

We probably have to pay the commission to the real estate agent immediately, but I can’t finance it like that, can I? Our equity is very low and we can’t pay such costs out of pocket on top.

Maybe you have tips or can tell me exactly how it really goes on after deciding on the house and the plot? Or link me to another thread in case I missed something.

Thank you very much in advance.

Best regards, Kati
 

Caspar2020

2017-04-25 11:40:44
  • #2


Depends. Normally, a reservation is only made once you have provided a financing confirmation to the developer. Usually, they give you a few days to provide this.

Besides, you don't buy the plot separately from the developer anyway; it's a package deal if it’s a developer.



Depends. Actually, only after everything is finalized at the notary.

That’s not a good idea anyway. Sounds like 120% financing. Have you already talked to banks or financial brokers to see if they can accompany you on your path?
 

erdbaerchi

2017-04-25 12:31:57
  • #3
Yes, I have already been to various banks to inquire whether a financing would even be approved. We both earn quite well but have saved only a little.

It would probably be a 95% financing. We can afford no more than 5 to 7%. I know that this is difficult, but not impossible... I am certainly aware that such a high financing would generally be discouraged.
 

Caspar2020

2017-04-25 12:48:18
  • #4


So house with land counts as 100%. 12% plus for property transfer tax, broker, notary, makes 112%. The remaining 8% up to 120% are things like kitchen, etc...

How do you now come to 95%?

And have the banks said they would do that?
 

ypg

2017-04-25 13:47:17
  • #5
What kind of agent is that who mediates a developer property? Normally, developers (sell house with land) work without an agent.

Or is only the land mediated by the agent? And which company then builds there? Considering that commission can be very expensive, I would check that!

Question: is it really a developer or a general contractor?

Otherwise, it is indeed the right way, if it is clear how high the costs for building the house are. Calculation including incidental construction costs, incidental purchase costs, outdoor facilities and EL should be set :)

Best regards in short
 

Similar topics
07.07.2011Financing land now, house in 6 months?17
31.05.2012Financing of the property: Does the entire financing need to be secured?11
06.01.2015First buy the plot, then calmly plan and build...?11
27.02.2015Construction project with a developer without an official building plan, is a down payment required?12
21.03.2015Property and Real Estate Agent16
18.12.2015Financing unequal equity ratios of unmarried partners24
19.11.2015Land is in sight - Financing feasible?11
22.01.2016Financing Land & Corner Bungalow20
21.04.2016Is financing with land and equity possible like this?20
13.08.2016Variable or fixed financing for land?11
08.08.2017Buy land with cash? How to build financing?44
10.03.2017Maturity level of planning for financing land + house11
22.09.2017Pre-contract - provider offers financing and land11
06.01.2020House purchase, prefabricated house from the developer with land10
14.05.2020Financing Land & House - 2 Different Loans34
13.10.2020Land available - ancillary construction costs, ancillary house costs, financing?34
24.06.2021The broker does not take a clear stance on financing. How to behave?42
07.11.2020Notary contract land inspection: should it be done or not?24
27.02.2021Prefabricated house including land planned - financing45
27.09.2021Financing the construction of a house on a plot of land based on the neighborhood33

Oben