Loan Agreement Signature

Hello,

is it common to discuss and subsequently sign the loan agreement in a joint appointment with the bank advisor "without having received the contract beforehand," when "a financing offer with the conditions is available"?

How extensive is such a loan agreement and what should one pay attention to?

Thank you!

We received the contracts at home and signed them there. In the loan agreements, as I know them professionally, it is usually quite clear very quickly what are individual entries (interest rate, installments, securities) and what are standard formulations. I believe in total it is about 5-6 pages per loan agreement. In addition, there may well be one or two more sheets for signature. Theoretically, this could also be signed on site, and you could ask questions directly if they arise. Personally, I would still take the contract home for one more night and calmly sign it with my partner and a glass of wine.

If you look at the entire loan agreement like this, meaning contract, explanation, VVI, ESIS, etc. pp... that's already quite a lot. I would demand that they send me the contracts in full and then, if necessary, sign them on site after all questions have been clarified.

Are these standard legally regulated contracts? Or can the bank incorporate its "special quirks" here? What should one mainly pay attention to?

I suspect every bank has a few peculiarities in that regard. One example that comes to mind is the sale of receivables. But I hardly believe you can change anything there. So take it or leave it. However, the bankers here in the forum (e.g. ) can certainly give you better information.

Every loan agreement is freely negotiable regarding its content, although there are various (very many) legal requirements that must be included or must not be included. Overall, all contracts will be very similar; within a bank, they are usually uniform, although there can always be special cases here (e.g., subsidized loans, ancillary agreements, etc.).

Listing everything that is normal or abnormal here now... probably nobody can do that.

What always applies, however, is this: Read everything, understand everything, if you do not understand something, ask and have it explained. "We have always done it this way" or "this is standard" is not an answer. Have it explained, understand it, and agree. Then it is an answer.

You also don’t buy a newly produced "Super-Brötchen" at the bakery without asking what is inside.