Once the right property has been found and the financing has been clarified, the legal process can begin.
Draft purchase agreement: The purchase of real estate in Germany must be notarized by a notary public. As a rule, the buyer commissions the purchase contract from the notary of his choice. The notary draws up a draft purchase contract that contains the main terms of the contract and the purchase price.
Contract review: Buyer and seller review the draft contract and can request changes or additions. Here I will be happy to advise you and explain the contract to you and coordinate changes with the notary and the other party.
Notary appointment: The contracting parties meet at the notary's office to notarize the purchase contract. The notary reads the contract and makes sure that both parties understand the contents and the legal implications. The buyer and seller then sign the contract.
This is where I can represent you. It is not necessary for you to appear in person at the notary appointment.
Land register: After signing the purchase contract, the notary applies for the registration of a priority notice at the land registry. This priority notice protects the buyer from possible subsequent encumbrances or disposals. The land register is thus "blocked". The land registry keeps the land register, which contains all relevant information about a property, such as owners, property boundaries, parcel numbers, mortgages and other encumbrances.
Payment of the purchase price: After the notary has checked the maturity requirements (usually the registration of the priority notice), the purchase price is paid by the buyer to the seller. This is usually done by transfer to a notary's escrow account or directly to the seller.
Handover: After the purchase price has been paid, the property is handed over to the buyer. This includes the handover of keys and documents as well as a joint inspection of the property to record any defects or damage. This point in time is also called the change of burden/use. The buyer may now use the property, i.e. move in or rent it out. However, he must also bear the costs and risks of the property.
Transfer of ownership: As soon as the purchase price has been paid, the notary applies for the transfer of ownership in the land register. The land registry examines the application and makes the appropriate changes. With the entry in the land register, the buyer officially becomes the owner of the property.
