Land found, when to pay?

2022-09-05 18:22:41

No, he saved something wrong or expressed himself imprecisely. I have a condominium and built it at the same time. The condominium was included in the financing (as additional security) and I will rent it out soon. But if I intended to sell it, I would probably list it with very simple photos and a mini dossier and then try to strongly filter the interested parties in advance. Before the Ukraine thing, I would also have listed it completely overpriced, expecting to filter quite a few that way. Today, I am not sure. Probably rather market-appropriate at first, and if there are too many interested parties, not individual viewings but an open house.

2022-09-05 18:34:12

Ah, OK, yes, that was also our initial consideration. But the lending value is definitely below the sale price and since we have no other equity, a sale makes more sense. Do you really think they are queuing up at the door?

2022-09-05 18:42:21

My assessment: Berlin, good location and reasonably well maintained should not be a problem. Even if demand is perhaps not as high as before the interest rate hike, there will probably still be 5 interested parties for the apartment if there were 10 before. Just as a greatly simplified example! Of course, I can very well understand if you want to wait until the apartment is sold in order to have a good overview of costs, especially in the current times. That is why my tip: pursue both in parallel. A plot of land is only purchased after a notary appointment and that also requires at least 2 weeks lead time. Otherwise something might come up on your end that the appointment can only be held later. And in parallel, get the apartment on the market as quickly as possible, because from the perspective of my crystal ball prices will definitely not be higher next year. The opposite is more likely, although that does not exclude that we might have rising prices again in 2 years. But I observe locally that the number of purchase offers is rising sharply while rental offers are dropping just as sharply. Therefore, sell as quickly as possible.

2022-09-05 18:44:28

So if the apartment is not still heated with a coal stove - yes. Because you can no longer get a rental apartment in Berlin. Every apartment change I know of happens under the table with tenant recommendations or even directly as subletting.

[LTV] is always below the sales value. The bank certainly wants that. But if you don’t possibly want the apartment for retirement, then it’s better to sell, yes.

2022-09-05 18:53:32

Since @11ant wrote:
Did you also sell an apartment in Berlin?

Reading carefully helps ...

No, he saved something incorrectly or expressed himself imprecisely.

... no, I did not:

Besides, he is a "fellow sufferer" regarding the marketing of a (although still needed by himself until moving) condominium.

It clearly says that the completion of the sale is still in the future. If God wills that the required remaining components soon temporarily are currently scarce goods, I am hopeful that by the time the OP needs the experience, these will already be available and can be reported on.

2022-09-05 18:54:55

My assessment: Berlin, good location and reasonably well maintained should not be a problem. Even if demand is perhaps not as high as before the interest rate increase, there will probably still be 5 interested parties for the apartment if there were 10 before. Just as a strongly simplified example! But of course, I can very well understand if you want to wait until the apartment is sold in order to have a good cost overview especially in the current times. Therefore my tip: pursue both in parallel. A plot of land is only bought after a notary appointment and that also requires at least 2 weeks lead time. Otherwise, something might come up on your end that the appointment can only be later. And at the same time, put the apartment on the market as quickly as possible, because from the perspective of my crystal ball, prices certainly will not be higher next year. Rather the opposite may be the case, which of course does not exclude that we might have rising prices again in 2 years. However, I observe locally that the number of purchase offers is strongly increasing while rental offers are decreasing just as strongly. Therefore sell as quickly as possible.

Thanks for your assessment! The thing is, without a credible financing confirmation or something similar, I will have poor chances with the seller. At least that’s what I think…. So I think we won’t get around a bridge loan…

Similar topics
25.10.2008	Is laundry drying prohibited in the new apartment?!	10
02.11.2012	House financing via condominium ownership	10
21.08.2013	House vs. Condominium, Rent vs. Purchase	21
09.07.2015	Buy a condominium to build wealth?	14
03.08.2015	Home financing with a condominium unit still for sale.	11
02.08.2016	Only problems with the new tenant of the old apartment because of whitewashing!	21
06.10.2016	Rented apartment as a substitute for equity capital	11
27.02.2018	Too high humidity in the apartment. 60-70% in winter	33
08.03.2019	Elevator next to the condo - operating noises	10
02.07.2019	Renovation of existing ground floor apartment - additional office	49
26.09.2019	Buy a condominium with a partner	25
23.10.2019	Buy apartment, then buy/exchange house - tips	23
01.05.2020	Construction financing with ETW as security for the loan	38
13.08.2020	Just before agreeing to purchase a condominium unit - Questions and doubts	139
16.07.2020	Financings ETW Student + Engineer	57
07.08.2020	Condominium purchase - feasibility study	40
03.11.2020	House construction. Sell or rent out the condominium?	52
28.05.2021	Buy a single-family house - mortgage a condominium unit and sell it later?	39
23.09.2021	Purchase of owner-occupied condominium - financing process	12
30.01.2022	Unexpected sale of rented apartment. Options?	72

Land found, when to pay?

Tolentino

MarieWo

Sunshine387

Tolentino

11ant

MarieWo