Land found, when to pay?

Hello everyone,

I registered today because we (surprise;) ) also want to build.

We are still at the very beginning of our plans.
I have just inherited an apartment and this opens up completely new possibilities for us.

That brings me to my concern:

We want to sell the apartment and the proceeds will be our equity with which we will finance the land and part of the construction costs.
Now we have the problem that we have already found our dream plot, but the apartment has not yet been sold.

We live in Berlin, the apartment is very central and the sale should almost be a sure thing. However, we are just in the process of clearing it out and will not be able to list it for sale for at least 2 weeks (unless we find buyers among acquaintances beforehand).

Since land in Berlin is very scarce, especially in our area, I am now afraid that the plot will be gone before we are able to act :/

Do you have any tips on how I can avoid this?

Don't wait for it.
1. A purchase contract can be formulated quite freely. That means immediate purchase and payment, moving out in one year (either with a subsequently agreed right of residence against a discount or compensation payment up to immediate purchase, payment only upon moving out, there are numerous possibilities. Especially in Berlin, every buyer is willing to accept many things in order to get the bid.
2. The land can also be financed variably. Then later replaced with money from the sale and a subordinated loan can be taken out for construction costs and the remaining land.
3. Where are you moving now if you want to be out in two weeks?

Bridge financing should not be a problem for the banks. You only pay the interest until the apartment is sold, and the loan is paid off with the proceeds.

If the apartment sells like hot cakes, you should have no concerns. Only if it doesn't sell should you have concerns.

Thanks in advance for your reply!

We ourselves are currently living in a house very close to the new property. This was an existing property and with now three children it is much too small for us, hence the new build. The apartment belonged to my late mother, so we don’t need to move. We just need to empty it to take usable photos.

The plot we would like belongs to an old lady, but she no longer lives there. The small demolition house on it is vacant and therefore almost immediately available. She herself would like to have the sale finalized this year, as she is apparently very ill and wants to make sure her sons are provided for.

I need to take a closer look at the variable financing, maybe it really is an option. Although at first I would assume that you end up paying more?

I have two messages for you, one good and one bad. The bad is: I am almost completely inactive here in the financing section, and consequently have no specific thread URLs in memory that I could link to you as reading recommendations here. The good is: if you go searching yourself, you will find plenty - your problem can certainly be counted among the FAQs here.

thanks to you too, I have already tried to find suitable threads and read through some, but sometimes you also need a bit of personal encouragement. Especially since my husband is rather reserved on this point and prefers to sell the apartment first before we invest.