Procedure for purchasing property - What are the seller's obligations?

  • Erstellt am 2017-10-10 20:34:58

florlp

2017-10-10 20:34:58
  • #1
Hello dear forum,

we are very seriously interested in a (still undeveloped) plot of land in a new housing development that is emerging. Together with you, I would like to list the steps that are necessary or advisable from the expression of purchase interest to the actual purchase. I’ll start:


    [*]Find public announcements about new housing developments or the development of further sections in the local newspapers.
    [*]Contact the municipality. Unfortunately, we have no chance of obtaining one of the few municipal plots, but we have been referred to other landowners.
    [*]Decide on one of the available plots and have it reserved.
    [*]View the development plan and, if applicable, the land use plan from the collective municipality / city administration (some are available online, if not, just ask).
    [*]Present the development plan to an architect and roughly clarify whether the dream house can be realized on the plot considering the requirements. (This does not mean already starting detailed planning or committing to a provider/architect).

    [*]Make an appointment with your bank advisor and discuss financial room for maneuver and limitations.

    [*]...and now?


We are currently at step 6. We have fallen in love with a plot, have already imagined what the future house could look like there, and have already informed ourselves about loans at the bank in advance. What happens next?

Land register entry?
I would like to see the land register entry. Is it common to be given a power of attorney by the owner so that one can request a copy from the office? Or do you rely on the owner’s copy that you can view from them? Do you possibly get to see the land register entry again at the notary before signing?

Agreement with the seller:
Provided there are no more surprises in the land register entry, I imagine that you would seek a conversation with the seller and make an appointment at the notary. How did you ensure that everyone could attend the notary appointment? Did you already record anything in writing before the notary appointment?

Notary appointment:
You sign the purchase contract and have x days to transfer the money. What counts as proof that you have paid the money? Does the seller report the receipt of the money and what do I have to do then to be registered as the new owner?

Development:
The development will be carried out by the municipality next year. We as the new owners will bear the costs.
When the development is completed and we have compared different providers again, we can start with the construction.
 

Nordlys

2017-10-10 21:23:22
  • #2
I notice you are very inexperienced here. So, the seller and you agree on plot xy free of encumbrances at the price such and such. The plot has so many square meters, is defined as a parcel, or it must still be marked off and given a new parcel designation, since it is part of a large parcel. In that case, you agree on who will pay for this; be careful, 2,500,- can be gone quickly. You then name the notary as the buyer, inform the seller, commission the notary to draw up a contract draft that contains what you have agreed on. Free of encumbrances, size, location, price. The draft will be sent to both of you by email, you check whether everything is as agreed. Free of encumbrances is important. The seller is responsible for ensuring this. You do not have to inspect any land registers. Your notary takes care of that. The signing appointment is set. You sign at the notary’s office. The notary will then initiate a priority notice of conveyance [Auflassungsvormerkung] on the day of signing via web at the court. This means that there is a note in the electronic land register that you now have a foot in the door; this prevents the seller from selling the land again. The notary now waits. For example, if a bank still holds rights on the property, the seller must provide the bank’s release approval. If no parcel has yet been formed, the notary waits until this has been done, you have agreed on who commissions and pays for it. Once everything is clear, the property is defined, and no encumbrances remain, the notary informs you in writing that you must pay within a week. You then confirm this payment in writing. The seller must also confirm receipt of the payment in writing. There is no room for email or phone calls here; it must be in writing by postal mail. The notary now applies for the change of ownership at the court, the so-called conveyance [Auflassung], it is registered. You now pay court and notary fees. After the registration has been completed, you receive the registration notification. You are now the owner. However, you are already the possessor after payment has been completed. Karsten
 

florlp

2017-10-15 14:19:53
  • #3
Thank you very much for the helpful answer. Yes, I am still inexperienced in the field. I have not yet bought or built a property or house. Therefore, I think it is great that there is such a community here that helps and advises each other.
 

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