Pay off land privately?

  • Erstellt am 2019-10-24 07:13:15

saralina87

2019-10-24 08:52:13
  • #1


About 40,000 are missing if we want to keep a sufficient buffer. Thanks for the tips!



No conditions yet, we are not that far. Currently it’s more about the very basic approach. But roughly calculated: 15 years, 1.5% interest, about 250 euros rate - that should work.

Regarding the notary: good question. It should also be "problematic" with gifts. Maybe he takes the standard land value? That would actually make sense.
 

Crossy

2019-10-24 09:11:40
  • #2
I would never finance the 40k over 15 years. What time frame until the start of construction are we roughly talking about? 2 years or rather 5? How much is the plot worth in total? If the targeted start of construction is within the next approximately 2 years, I would probably finance the whole thing with a variable rate. That way you remain flexible in your future construction financing and it also doesn't cost a fortune.
 

cschiko

2019-10-24 09:15:11
  • #3
Do the grandparents really have to sell it? Or wouldn't it simply be possible to postpone the purchase to the point in time when you are financing anyway? Sure, in the end the property will be counted as equity and the outstanding amount just offset against it.

But if the grandparents don't rely on it, it might be easier to do the whole thing in one go and, if you arrange it through a preliminary contract, that you get the property.
 

Tassimat

2019-10-24 09:23:30
  • #4
Or include payment in x years in the notarized contract.
 

Crossy

2019-10-24 09:27:24
  • #5


We have it like that. In the event of inheritance, the property will be offset against us and we will then receive less from the remainder. So not a direct payment date but offset against the total inheritance.
 

Deliverer

2019-10-24 09:36:43
  • #6
By the start of construction, you will have paid off the 40,000,-, otherwise you won't be able to afford a house.
 

Similar topics
31.05.2012Financing of the property: Does the entire financing need to be secured?11
28.05.2013I am getting a plot of land as a gift. How do I finance the construction?16
17.11.2013House purchase, renovation, outdoor facilities / financing mortgage loan10
16.02.2015Property purchased - Is financing/loan for house possible?13
29.03.2015Financing suitable building land separately before house construction15
16.06.2015Buy property now, and build in 3 to 5 years?52
23.12.2020Heritable lease property the only solution?53
19.11.2015Land is in sight - Financing feasible?11
22.03.2016Temporarily lease land26
13.08.2016Variable or fixed financing for land?11
08.08.2017Buy land with cash? How to build financing?44
15.03.2017Questions about a possible plot!37
05.09.2017Finance land/house separately - fixed interest rate11
27.04.2018Is it better to buy property or not?20
05.10.2018Buy land first, then build - experiences / tips?26
06.07.2020Finally a plot - Can we finance everything with EFH?72
21.04.2020Beginners: Financing a single-family house with land14
01.12.2020Finance land now and build later15
08.01.2023Finance the property, construction starting in 2 years. How to finance?17
18.03.2024Buy the land first and then finance it?29

Oben