Payment of house purchase price and modernization

Purchase price and modernization costs are included in the loan agreement.

How does the disbursement work?

The purchase price will probably be transferred to the notary.

But what about the modernization costs if the heating system and windows are to be renewed?

Do you receive the money in your current account or do the craftsmen get it after the service?

They might also want a down payment before they start, right?

What if the amounts you specified are not needed? What do you have to do with it?

So with us, we received payout slips. We have to specify exactly what we need the money for and then receive the amount transferred to our account after applying. We must provide proof for every euro spent. If too much is paid out, it will be settled with the next payment. Larger amounts to the [hausunternehmen] are transferred directly.

Craftsmen get nothing from me before the work is done and accepted.