bavariandream
2022-03-27 23:05:08
- #1
Hello everyone,
after years of following up with the municipality, we have now gotten our absolute dream property and signed the notarized contract this week. Shortly after, we already had the first meeting with a general contractor and are currently waiting for the offer. More meetings will follow next week. There is already a development plan for the property and the infrastructure should be completed by late summer.
We would most prefer to start as soon as possible because interest rates will probably continue to rise and we have heard that many home construction companies will soon no longer offer a fixed price guarantee. However, we are not quite sure when we can conclude a contract with the general contractor because we have not yet paid for the property (we already have the money for it, but are still waiting for the invoice from the notary) and also still need to finalize the financing with the bank (we have already had preliminary talks with our house bank and they would finance us, but naturally would still need a detailed cost breakdown).
After waiting several years for the property, one would think that a few weeks more or less wouldn’t matter anymore. But since the monthly payment will be quite challenging anyway, we really want to secure the fixed price guarantee so that it doesn’t suddenly become significantly more expensive than planned in the end.
Would you already sign a contract with a general contractor before the property is fully paid? Pretty sure that only the real estate transfer tax would still be outstanding anyway, because I assume the notary’s invoice will arrive next week and we would then pay it immediately.
Many thanks and best regards
after years of following up with the municipality, we have now gotten our absolute dream property and signed the notarized contract this week. Shortly after, we already had the first meeting with a general contractor and are currently waiting for the offer. More meetings will follow next week. There is already a development plan for the property and the infrastructure should be completed by late summer.
We would most prefer to start as soon as possible because interest rates will probably continue to rise and we have heard that many home construction companies will soon no longer offer a fixed price guarantee. However, we are not quite sure when we can conclude a contract with the general contractor because we have not yet paid for the property (we already have the money for it, but are still waiting for the invoice from the notary) and also still need to finalize the financing with the bank (we have already had preliminary talks with our house bank and they would finance us, but naturally would still need a detailed cost breakdown).
After waiting several years for the property, one would think that a few weeks more or less wouldn’t matter anymore. But since the monthly payment will be quite challenging anyway, we really want to secure the fixed price guarantee so that it doesn’t suddenly become significantly more expensive than planned in the end.
Would you already sign a contract with a general contractor before the property is fully paid? Pretty sure that only the real estate transfer tax would still be outstanding anyway, because I assume the notary’s invoice will arrive next week and we would then pay it immediately.
Many thanks and best regards