Skimmy123
2021-09-29 21:03:33
- #1
Hello everyone,
after a long search we have found a property that we want to buy and have already received the verbal commitment from the sellers. We are currently in the preparations / agreements with the sellers and the banks for the financing. Due to the enormous purchase amount for us, we are trying to be especially careful and want to check everything "very thoroughly". Currently, among other things, we have the land register extract provided digitally by the sellers, and as laypersons we are a bit suspicious and would like to ask for advice here.
Context to the situation: The sellers (both self-employed business people) plan to emigrate permanently and want to sell the house built in '94, preferably with the contents such as almost all the furniture etc. The house appears to have always been well maintained and especially modernized repeatedly in the last 5 years (extension of a cold garden, partial bathroom renovation, new tiles in the hallway and kitchen on the ground floor, new kitchen, driveway newly paved, new wrought iron gate in the driveway, a now 5-year-old new fireplace). We explain these modernizations before emigrating by assuming that the sellers probably wanted to increase the selling price. Otherwise, we find it illogical to invest so much money in a property that you "are going to sell soon anyway."
Regarding the land register, the following entries were made in mid-2020:
- (Section I) Now it is such that the sellers founded a GbR as spouses in 2020 and registered it as the owner. According to the GbR entry, the shareholders are the two spouses. Previously, the spouses were owners as individuals with 1/2 each.
- In Section II No. 5 there is a "limited personal servitude (right of residence)" for the two spouses "as joint beneficiaries" with the addition: "The right has priority over Section III No. 7."
- Additionally, in Section II there is a "repurchase notice" for the two spouses as individuals (note: not for the GbR!)
- In Section III No. 7 there is a "€100,000 land charge with 15% annual interest from 06/2020 and 5% ancillary payment once" for both spouses as individuals. "The right has rank after Section II No. 5."
Our questions:
1. The page number is "17" according to the footer, but we only received pages 2, 6, 8, 9, 15 and 17. Shouldn't it be complete?
2. How is it to be understood that the owner is the GbR consisting of the spouses, but the spouses have registered right of residence, and then there is a land charge on the spouses but not on the GbR? And what are those horrendous interest rates? Is this a tax saving model or something similar? And why was this done one year before the sale? The sellers want to use the same notary for the sale who also registered this change.
3. How can I tell that it is a residential area and not, for example, commercial? According to the overview it says "buildings and open space, building plot."
If this is not conclusive, I can also upload the (redacted) copies of the land register here.
We would appreciate advice.
after a long search we have found a property that we want to buy and have already received the verbal commitment from the sellers. We are currently in the preparations / agreements with the sellers and the banks for the financing. Due to the enormous purchase amount for us, we are trying to be especially careful and want to check everything "very thoroughly". Currently, among other things, we have the land register extract provided digitally by the sellers, and as laypersons we are a bit suspicious and would like to ask for advice here.
Context to the situation: The sellers (both self-employed business people) plan to emigrate permanently and want to sell the house built in '94, preferably with the contents such as almost all the furniture etc. The house appears to have always been well maintained and especially modernized repeatedly in the last 5 years (extension of a cold garden, partial bathroom renovation, new tiles in the hallway and kitchen on the ground floor, new kitchen, driveway newly paved, new wrought iron gate in the driveway, a now 5-year-old new fireplace). We explain these modernizations before emigrating by assuming that the sellers probably wanted to increase the selling price. Otherwise, we find it illogical to invest so much money in a property that you "are going to sell soon anyway."
Regarding the land register, the following entries were made in mid-2020:
- (Section I) Now it is such that the sellers founded a GbR as spouses in 2020 and registered it as the owner. According to the GbR entry, the shareholders are the two spouses. Previously, the spouses were owners as individuals with 1/2 each.
- In Section II No. 5 there is a "limited personal servitude (right of residence)" for the two spouses "as joint beneficiaries" with the addition: "The right has priority over Section III No. 7."
- Additionally, in Section II there is a "repurchase notice" for the two spouses as individuals (note: not for the GbR!)
- In Section III No. 7 there is a "€100,000 land charge with 15% annual interest from 06/2020 and 5% ancillary payment once" for both spouses as individuals. "The right has rank after Section II No. 5."
Our questions:
1. The page number is "17" according to the footer, but we only received pages 2, 6, 8, 9, 15 and 17. Shouldn't it be complete?
2. How is it to be understood that the owner is the GbR consisting of the spouses, but the spouses have registered right of residence, and then there is a land charge on the spouses but not on the GbR? And what are those horrendous interest rates? Is this a tax saving model or something similar? And why was this done one year before the sale? The sellers want to use the same notary for the sale who also registered this change.
3. How can I tell that it is a residential area and not, for example, commercial? According to the overview it says "buildings and open space, building plot."
If this is not conclusive, I can also upload the (redacted) copies of the land register here.
We would appreciate advice.