Selling an apartment in Cologne-Neuehrenfeld – Find out everything you need to know about selling an apartment in the beautiful district of Neuehrenfeld in Cologne. From the prices per square meter in Neuehrenfeld to the process of selling an apartment to the entry in the land register, with our guide you are well prepared for a successful apartment sale. Also: An overview of the tasks of a real estate agent and the most important criteria of property valuation – Welcome to Cologne-Neuehrenfeld! Back to: Selling property in Cologne.
Apartment for sale in Cologne-Neuehrenfeld
Lively, urban and multi-culti – this is how the Cologne district of Neuehrenfeld can be defined. As one of the youngest neighborhoods in the media metropolis, this residential area offers a high standard of living, modern flair and plenty of entertainment, both in the evening and during the day. Small pubs, individual boutiques and elegant wine bars line the streets in Neuehrenfeld. And if you’re looking for some relaxation on a sunny afternoon, Blücherpark is the place to be.
Learn all the steps here: Sell property
Therefore, in Neuehrenfeld you can count on a fast apartment sale:
- High standard of living
- Modern flair
- Many entertainment options
- Parks & Green Spaces
Exclusive location in the north of Cologne
Now a look at the mesolocation of Neuehrenfeld:
Between Hauffstrasse and Ottostrasse: coveted apartments
Real estate in Neuehrenfeld is in demand. This is also reflected in the real estate prices. The corner between Ottostraße, Nußbaumerstraße and Hauffstraße is one of the most attractive residential areas. The properties in the north around Arminstrasse are also in high demand. More about the exact real estate prices in a moment.
Here in advance our guides:
Old building apartment, loft & penthouse: square meter prices
If you want to sell your apartment in Neuehrenfeld, you can expect to pay an average of €5,100 per square meter here. It gets particularly expensive in the south-west of the district. Depending on the type of apartment, year of construction and condition, you can easily demand 5,750 euros per square meter here. To determine an exact purchase price, we therefore recommend that you carry out a professional apartment valuation. This is the only way to calculate a realistic purchase price.
You can find more tips here:
Valuing an apartment: Determining the asking price
Anyone who wants to sell their condominium faces the all-important question: What is my property worth? Here, the emotional attachment to the property proves to be a limitation to realistic valuation, so that private owners usually set a price that is far too high. If the asking price is too high, interested parties stay away and the sale takes longer than planned. If you want to sell the property quickly for personal reasons and therefore set a price that is too low, you will lose money and ultimately be dissatisfied with your decision.
Advantage of the valuation: setting a realistic price
To determine the authentic value of the property, you need a comprehensive knowledge of the market and the realistic value per square meter in the respective location. The year of construction, the equipment and the condition are also factors that influence the price and decide which offer price is optimal for your apartment. When it comes to something as valuable as your property, you should refrain from making decisions based on gut feeling and rely on a professional valuation.
These factors affect the value of the property:
- Year of manufacture
- Neighborhood infrastructure
Extras such as a terrace, a winter garden, a garage or a balcony also increase the value of your apartment:
Procedure: Preparation, marketing & handling
Do you want to sell with real estate agent or do you prefer a private sale? More about this in a moment. First, let’s look at the exact process of selling an apartment. This can be divided into three phases:
Here are the three phases in detail:
Planning the sale of apartments: checklist
Very well planned, is already half sold! Save yourself stress and time in the later stages of the sale by attaching importance to detailed preparation. One of the most important steps is the compilation of all important documents. This includes the excerpt from the land register, site plans, invoices for renovation and refurbishment measures, as well as the energy certificate. Once you have all these documents together, you can take care of the valuation, as well as the preparation of the real estate exposé.
Preparation phase summarized:
- Appointment with real estate agentif necessary
- Provision of papers
- Apartment valuation
- Preparation of the exposé
Marketing real estate: Sales strategy
Once the most important documents have been collected and the purchase price and sales period have been set, we now come to the sales process. You can choose between three types of real estate marketing: Offensive, Defensive and Off Market. Which of the strategies you choose depends on the location of the property, as well as the type of apartment and house. If the first prospective buyers contact you by phone or mail, you organize viewing appointments, check the creditworthiness of the prospective buyers and conduct purchase price negotiations.
The steps of the sales strategy:
- Advertise apartment
- Organize inquiries from interested parties
- Arrangement of the viewing appointments
- Check creditworthiness of interested parties
- Purchase price negotiations
Processing: Notary appointment & handover
During the final steps of the sale you will be accompanied by an experienced notary. This is not only recommended, but required by law. The notary acts as a neutral authority between you, the seller and the future owner. He clarifies final questions, makes changes to the purchase contract and notarizes it. The new owner is entered in the land register, the purchase price is transferred and you can hand over your apartment in Neuehrenfeld to its new owner – with a handover certificate, of course.
The processing at a glance:
- Create purchase contract
- Notary appointment & certification
- Entry in the land register
- Receipt of the purchase price
- Handover of the apartment & keys
- Pay broker commission & notary fee
The tasks of a real estate agent also include the creation of meaningful photos for your exposé. In this way, you can present the features of your property and the decisive arguments for the purchase price in an appropriate manner. More about this in a moment:
Sell privately or with a broker?
As an owner, a positive experience when selling real estate is especially important to you. In general, when selling real estate in Neuehrenfeld, you have to take into account that you will spend a lot of time and energy selling yourself. So should you sell privately or with an estate agent? Both options bring their individual advantages and disadvantages.
Typical for real estate sales:
- Negotiation skills
- Organizational talent
- Market knowledge
- High time and cost
Let’s now take a closer look at both:
Sell apartment privately: Disadvantages & mistakes
In the case of owner-occupied and perhaps long-standing or inherited real estate, it is not uncommon for there to be an emotional attachment to the apartment or house. However, the close connection can become a problem and cloud your view of realistic offer pricing. When you sell yourself, you face a long agenda of preparatory tasks and planning that involves a high risk of error. In addition, there are costs that you have to invest in the preparation of the
Sell property privately – disadvantages:
- Emotional bond
- Incorrect determination of the offer price
- High risk of error
- High cost
- Sometimes too complex situation
Real estate agent in Ehrenfeld: Advantages
Selling the property itself is an enormous burden for private owners, which is very complex due to the numerous details that require attention. An experienced real estate agent supports you during the entire selling phase and also advises you on the topics of taxes and financing. All tasks from planning, preparation and publication to the last step of the transaction are carried out for you by specialists with core competence and many years of professional experience. You protect yourself from financial losses and have the certainty that the apartment will be sold at the best price and that the change of ownership will take place without any problems.
Read more here: Tasks of a real estate agent
Advantages of a broker:
- Many years of experience
- Market knowledge
- Own buyer network
- Tax & Finance Consulting
- Error avoidance
- Professional valuation
Selling in the media metropolis: XL guidebook
With over 1 million inhabitants, the media metropolis on the Rhine is one of the hubs in NRW, but also in Germany. Located in western Germany, the city borders other metropolitan areas such as Düsseldorf and Bonn. The media city can be found directly on the Rhine and can be divided into different parts and districts. Neighboring cities include Düsseldorf, Bonn and Leverkusen. Cologne stands for media, TV and press like no other city in Germany. That is why the metropolis on the Rhine is constantly growing. Südstadt, Altstadt, Ringe, Ehrenfeld or Sülz, where is the best place to live?
Here are our exclusive guides: