Checklist: 12 mistakes when selling

12 mistakes at a glance. After the table, all errors in detail with practical tips for each risk.

Error ()	Practical tips
Incorrect pricing	Tip #1: Comprehensive market research, commission an expert.
Lack of preparation	Tip #2: Repairs, thorough cleaning.
Unprofessional presentation	Tip #3: High-quality photos, appealing description.
Missing or unclear documentation	Tip #4: Have all documents ready.
Insufficient negotiation skills	Tip #5: Broker or negotiation training.
Lack of legal protection	Tip #6: Have the purchase contract checked.
Unfavorable times	Tip #7: Market observation for time of sale.
Lack of clarification of financing	Tip #8: Credit check before negotiations.
Unclear handover	Tip #9: Detailed documentation on handover.
Uninformed tax decisions	Tip #10: Consult a tax advisor.
Lack of patience	Tip #11: Realistic planning, stay patient.
Insufficient legal review	Tip #12: Check the legal situation with a lawyer.

Incorrect pricing

Setting a price that is too high or too low can deter potential buyers. Thorough market research is important to determine the right selling price.

What to do? Tip #1

Tip: Carry out comprehensive market research. Analyze similar properties in your area to determine a realistic selling price. You could also hire a professional surveyor to determine the value of your home. This will help you determine a good asking price.

Lack of preparation

An unprepared or neglected apartment can reduce the interest of buyers. Minor repairs and a thorough cleaning can significantly improve the impression of the apartment.

What to do? Tip #2

Tip: Go through your home thoroughly and make a note of any repairs or renovations that should be carried out before selling. A well-kept first impression can increase the value of the apartment. With sufficient lead time, you can prepare your apartment for sale and increase its value.

Unprofessional presentationâ

Poor photos, incomplete descriptions or missing information on real estate portals can deter potential buyers. An appealing presentation is crucial for the success of the sale.

What to do? Tip #3

Tip: Invest in high-quality photos that highlight the best features of your home. Write a detailed and appealing description for real estate portals. Also consider whether a virtual tour or video could improve the presentation. All of this then goes into the finished exposé.

Missing or unclear documentation

If important documents are missing or incomplete, this can delay or even derail the sales process. Make sure you have all the necessary documents ready.

How to prepare? Tip #4

Tip: Make sure you have collected all the relevant documents before you put the apartment up for sale. This includes land register excerpts, declarations of division, energy certificates and other legal documents. Here is a small list of documents for the sale.

Insufficient negotiation skillsâ

Poor negotiation skills can lead to a lower sales price. It is important to conduct negotiations professionally in order to achieve a reasonable price.

What to do? Tip #5

Tip: If you are unsure of your negotiating skills, hiring a professional broker could help. Alternatively, you could read up on negotiation techniques yourself or even take part in training courses.

Lack of legal protection

A poorly drafted sales contract can lead to legal problems. A lawyer should review the contract to ensure that all relevant aspects are covered.

What to do? Tip #6

Tip: Have the purchase contract checked by an experienced lawyer. This will ensure that all relevant aspects are taken into account and that you are legally protected.

Unfavorable timesâ

Choosing the right time to sell can influence success. An unfavorable market or seasonal fluctuations can make the sale more difficult, especially if the home is to be sold quickly.

What to do? Tip #7

Tip: Monitor the real estate market and choose a time to sell that coincides with increased demand or a positive market trend.

Lack of clarification of financingâ

If the potential buyer does not have secured financing, the sales process can come to a standstill. Make sure that the buyer has the necessary financial resources.

After 3 or 4 months you find the “perfect” buyer and then the deal falls through – you don’t want that to happen.

Any ideas? Tip #8

Tip: Before you enter into serious negotiations with a potential buyer, check whether they have secured financing. This will save you wasting time unnecessarily. There is also a credit check for sellers.

Unclear handoverâ

The handover of the apartment should be clearly documented in order to avoid subsequent disputes about the condition of the apartment.

What to do? Tip #9

Tip: Document the condition of the apartment in detail before the handover by taking photos and drawing up a protocol. This can prevent disputes later on.

Uninformed tax decisions

Tax aspects can have a significant impact on the sales proceeds. Wrong decisions can lead to unexpected tax burdens.

Do that? Tip #10

Tip: Consult a tax advisor to understand the tax implications of the sale and discuss possible optimizations.

Lack of patience

The sales process can take time. Acting impatiently can lead to hasty decisions.

And now? Tip #11

Tip: Plan the sales process realistically and be patient. Rash decisions could lead to financial losses.

Insufficient legal review â

Make sure that there are no legal obstacles to the sale, e.g. due to ongoing disputes or unclear ownership.

What to do? Tip #12

Tip: Have the legal situation of your home checked by a lawyer to ensure that there are no obstacles or disputes that could jeopardize the sale.

By taking these tips to heart, you can increase the chances of a successful and smooth sale of your condominium!

Der Beitrag Selling an apartment: 12 typical mistakes! Purchase price too high, missing documents, wrong time, etc. erschien zuerst auf ℄ Real Estates.

1) Sales under time pressure, poor preparation

The effort and scope of selling a property are often underestimated. A frequent consequence is the resulting time pressure, which has a negative impact on the sales price. Mistakes in the preparation of the sale can have far-reaching consequences – and not just financial ones. After all, the buyer must also obtain financing from their bank with the information and documents provided. Inadequate preparation can cause the sales project to fail at any stage.

Tip: Leave nothing to chance. Take enough time to prepare for the sale of your property.

Set your goals and plan the steps of the sale with foresight. Let our professional service support you in the targeted and best possible sale of your property.

2) Incorrect estimation of the purchase price

The asking price is always based on the value of the property. However, the owner’s personal assessment is often very different: The sales price is estimated too high or too low. In both cases, a financial loss is incurred and the buyer may not be able to finance the property. Our fair market valuation is made up of various factors. In our valuation, we only consider properties that are comparable to yours. This applies to the type of house or apartment as well as the property location and furnishings. Determining the purchase price is a crucial aspect of a successful real estate sale.

Tip: Our process evaluates the properties sold in your region and thus determines a realistic sales price in line with the market. Don’t give away any money.

You can find everything you need to know about the valuation here:

• Valuate property

3) Incomplete or missing documents

Obtaining and submitting documents for the sale of the property is necessary at every stage. Prospective buyers, authorities, offices and banks require documents or issue them. Compile all the necessary documents as early as possible. Current land register extracts are issued by the local court, and the declarations of division for the residential complex are also important. The complete key data on the property, which can be found in the construction plans, land register extracts and site plans, will be requested by serious prospective buyers at the latest at the viewing appointment. If an energy certificate or important documents are not available at an early stage, potential buyers may lose interest or the sale may fall through at a later date – for example, if the bank objects to missing documents or a purchase price that is too high.

Tip: If you wish, we can obtain many of the required documents for you.

Here is a list of the most important documents for house and apartment sales:

1. Floor plans
2. Site plan
3. Land register extract
4. Fire insurance certificate
5. An overview of the ancillary costs
6. List of all renovation work
7. Photos
8. The current energy certificate
9. The specification of the living space
10. Any existing rental agreements
11. If there is more than one owner, please specify the ownership structure
12. A detailed description of the property

More about the most important documents here:

• Documents sale

4) Poorly represented property

Today, properties are sold online – regardless of whether it is a divorce, separation or inheritance. Prospective buyers search for suitable properties in social media and online databases on the Internet. Present your property in the best possible way and in line with your target group.

Tip: Before the viewing appointment and even before the first photo session, the property for sale must appear well maintained and homely.

Don’t miss out on getting your property in top condition inside and out.

• Do not put off repair work and maintenance any longer.
• Declutter and create a clear impression.
• Ensure cleanliness and a homely and appealing atmosphere.

Home staging” pays off. This involves preparing the property so that potential buyers feel right at home and fall in love with the property. We will be happy to provide you with advice. Some tips on home staging:

• Remove personal items before the viewing appointment
• Enhance the property visually and emotionally

5) Photos: Daylight, open space and diversity

However, the most important factor is probably the pictures – especially for real estate marketing and the exposé. A buyer naturally wants to see as much of the property as possible to get an idea of whether the property could be something for them.

To take great pictures of your property, there are a few things you need to bear in mind: First of all, the rooms should of course be tidy and clean. You should also make sure you take the pictures in daylight so that the rooms can be seen clearly and buyers can assess how much daylight enters the rooms.

The most beautiful room, the roof terrace, the open kitchen or perhaps the bay window with a view. Your cover picture should be the most expressive and represent the best of the property. Pictures of all rooms and, if available, the garden/balcony/terrace, an exterior view and, above all, a floor plan should not be missing.

Photo tips at a glance:

• Rooms clean and tidy
• Daylight (speaks for bright rooms)
• First picture should be the best photo
• Cover all rooms and surfaces
• Floor plan

You can find out what is important in an exposé here:

• Create an exposé

6) Poorly prepared for the viewing appointment

Prospective buyers have important questions at viewing appointments. They need time to familiarize themselves with the property and its surroundings. Competent and technically sound information is expected when it comes to structural issues. When selling properties, detailed questions are asked about the common property, as these shares are also purchased together with the property.

Tip: We will help you with any questions you may have at the viewing appointment. We already make a pre-selection when selecting prospective buyers so that neither time nor effort is wasted.

We take care of the sales negotiations for you. With our many years of experience, we can conduct the negotiations for the sale of your property very successfuly. As estate agents, we remain objective and do not allow ourselves to be pressured into decisions.

• Viewing appointment tips

Conclusion: How to avoid mistakes & risks?

If you want to sell your property and avoid these pitfalls from the outset, contact a real estate agency directly. Real estate agents are contacts with expertise who not only have years of experience, but also the necessary know-how and knowledge.

With an estate agent’s service, you can avoid lengthy negotiations and negative buyers, so that you can have a purchase contract drawn up for the property promptly and initiate the handover.

Der Beitrag 6 typical mistakes when selling a villa: purchase price, documents, viewing & co. erschien zuerst auf ℄ Real Estates.

Why experience from others?

Each story highlights typical mistakes to avoid while showing how smart decisions and practical actions can lead to a successful outcome.

Most people sell 1 property in their lifetime, which is why it is so important to gain experience. Over 67% ultimately choose a good real estate agent, and in large cities as many as 80% use a good real estate agent.

These are not songs of praise for our and my work. I have compiled a few private experiences.

Of course, here are the fictitious experience reports in a more detailed form with headings:

“Avoiding the price trap” – Experience #1

Field report 1: Karin Müller
Age: 32

I thought I had estimated the price of my apartment correctly. But hardly anyone showed any interest. I was frustrated and didn’t understand what I had done wrong. Then I met a real estate agent. He seemed to sense my frustration and offered to take a look at my situation. He analyzed the market, inspected my apartment and then came to me with a new price proposal.

I found it difficult to adjust my expectations because I wanted to get the best out of the sale. But the estate agent explained to me that the original price was not in line with the market situation. I trusted his advice and adjusted the price. Lo and behold – suddenly there were more inquiries and interest. In the end, I was able to sell my apartment at a fair price. The estate agent showed me how important it is to find the right asking price.

• Apartment with 72m²
• 4 rooms
• Frechen in NRW
• Balcony with a view of the park
• Modern kitchen
• Proximity to public transportation

“Structured analyses lead to better presentation” – Experience #2

Field report 2: Hans Werner-Meier
Age: 45

I was always aware that my apartment had accumulated a few scratches and signs of wear over the years. Initially, I tended to dismiss these as minor defects. But my perception changed drastically when potential buyers came to view the apartment. Suddenly, the impression of neglect seemed to be omnipresent, and these signs of wear and tear were reflected in the offers – in a negative way.

In this matter, a trusted friend who works in real estate advised me to invest in targeted repairs and renovations. Initially, I felt a certain skepticism about this recommendation, as I wasn’t sure whether the effort would be worth it. Nevertheless, I decided to follow the advice and embark on a systematic preparation. This included measures such as fresh coats of paint, repairing minor defects and thorough cleaning.

The results of these measures were quite impressive. The response to the redesigned and carefully prepared apartment was significantly more positive. Potential buyers now showed significantly increased interest. This ultimately enabled me to successfuly sell my apartment at a reasonable price. This experience made it impressively clear to me that careful preparation and presentation play an essential role in a promising sale.

• 85m² apartment
• 2 bedrooms
• Central location in Hamburg
• Spacious living room
• High-quality equipment
• Proximity to shopping facilities

“Photos and descriptions” – Experience #3

Field report: Murat T.
Age: 28

I sold my small apartment in Cologne and thought a few snapshots with my cell phone would be okay to show my apartment. But when I put the ad online, not many people were interested. The photos were shaky and the text was hard to understand. I was really disappointed because I knew my apartment was really great. Then I met Maria, a friend who works in advertising. She showed me how important it is to show the apartment well. So I hired a professional photographer and wrote a better description. The result blew me away! Suddenly I was getting a lot more inquiries and people loved my apartment. In the end, I found the perfect buyer who was totally impressed with the photos and description. This story shows how important photos and texts are for successful selling.

• 50m² apartment
• 1 bedroom
• City center location in Cologne

“Forgotten documents” – Experience #4

Field report: Aurora Giurgiu
Age: 50

I was so excited about selling my apartment that I had forgotten to prepare the necessary documents. When a potential buyer showed serious interest, I started to sweat. He wanted to see documents that I didn’t have to hand. It was embarrassing and frustrating at the same time. That was the moment I realized how important thorough preparation is. Now I’ve created a checklist for all the necessary paperwork – land register extracts, declarations of division, energy certificate and more. Being smart right from the start not only saves trouble, but also time and nerves.

• 110m² maisonette
• 3 bedrooms
• Outskirts of Stuttgart
• Large balcony with a view
• In need of renovation

“Negotiations? No problem” – Experience #5

Field report: Julia R. Becker
Age: 37

Negotiations? No problem. But when I spoke to a potential buyer, I realized it was more difficult than I thought. I agreed to a lower price just to close the deal. But then I met Mark, a real estate consultant. He helped me learn negotiation tactics and boost my confidence. I was better prepared for the next buyer. I negotiated professionally, maintained my position and achieved the price I had in mind. This experience taught me how important it is to prepare for negotiations in order to get the best deal.

• 65m² apartment
• Open room concept
• Industrial style in Berlin Kreuzberg
• High ceilings and large windows
• Creative workspace
• Proximity to art galeries and cafés

“When friends draw up the purchase contract” – Experience #6

Field report: Thomas Fischer
Age: 60

Well, I had a friend draw up the purchase contract. But that led to misunderstandings and uncertainties. When the buyer asked questions, I was overwhelmed. That was a wake-up call. I realized that the legal protection of the sale was of the utmost importance. I sought professional help in the form of a lawyer. He reviewed the contract, made sure all the legal aspects were covered and gave me the confidence I needed. The sale went smoothly and I learned that expert legal support is essential.

“Season and time” – Experience #7

Field report: Samuel Chukwuaze
Age: 29

Apartments are always in demand, aren’t they? But when I put my apartment on the market, there was surprisingly little interest. This disappointment was hard to swallow, especially because I had hoped to sell my apartment quickly.

Then I met an experienced estate agent who gave me a completely new perspective. She explained to me in detail how the real estate market reacts differently in different seasons and that the right time is a decisive factor for the success of a sale. Her insight convinced me to rethink my original sales plan.

The estate agent recommended that I postpone the sale and keep a close eye on the market. I was skeptical at first – I didn’t want to waste any more time. But she explained to me that patience and a strategic approach can lead to better results in the long term.

Fortunately, I had the time at the sale.

In the end, I followed her advice and waited until the following spring, when demand was known to be at its highest. And she was right – at that time I found the perfect buyer who was delighted with my apartment. The sale went smoothly and I achieved a good price. This experience made it clear to me that the right time to sell a house or apartment can be crucial. Sometimes it simply pays to listen to expert advice and wait patiently for the best moment.

• 90m² Penthouse
• 2 bedrooms
• Luxurious furnishings in Düsseldorf
• Private roof terrace
• Old building with character

Der Beitrag Experience selling a condominium: 7 examples and testimonials from sellers erschien zuerst auf ℄ Real Estates.

Why is the purchase contract so important?

When it comes to selling a condominium, a purchase agreement is crucial. The purchase contract formalizes the sale and sets out the terms and obligations for both parties. By signing the purchase agreement, both the buyer and the seller agree to the terms and conditions contained therein and are thus legally bound to abide by them.

Another important aspect of the purchase contract is the protection of the interests of both parties. The contract clearly defines what is expected from each party and ensures that the buyer receives the property in the condition and at the price as agreed in the contract.

• Legally binding
• Protection of interests
• Avoidance of misunderstandings
• Documentation of the sale

A sales contract also helps to avoid misunderstandings and ambiguities between the parties. It gives both parties clear instructions on what they have to do and what they can expect from the other party. In this way, potential problems can be identified and resolved in advance, before they lead to major conflicts.

Content of the purchase contract

The contract of sale of an apartment is an important legal contract that sets the conditions for the purchase and sale of an apartment. The contract regulates the rights and obligations of the buyer and seller and sets the conditions for the transfer of the apartment.

Here are some of the key points that may be included in a typical home purchase agreement:

• Name of seller & buyer
• Purchase price and payment terms
• Location & description of the apartment
• Apartment equipment details
• Loads and defects of the object
• Time of handing over the keys
• Warranty regulations
• Interest on late payments
• Special agreements

When you buy a condominium, you become part of the condominium owners’ association and thus have a say in important decisions affecting the common property.

To ensure that all aspects of the purchase of the apartment and the community of owners are clearly and legally binding, the following points are also included in the purchase agreement:

• Additional special property
• Existing special rights of use
• Common property incl. rights of use
• Community order
• Amount of the house money
• Amount of the maintenance reserve
• Current building plans & building description

Additional documents & papers

As a condo seller, you should be prepared for the fact that potential buyers may request to see certain documents.

These documents include, but are not limited to:

• Declaration of division
• Annual accounts
• Amount of the house money
• Amount of the maintenance reserve
• Resolutions of the homeowners’ association
• Community order

Let’s take a look at the respective documents, their content and task.

Declaration of division: division of ownership shares

The declaration of division is an important document that forms the basis for the purchase contract and sets out the rules and regulations for the community of owners. The exact division of the ownership shares is also regulated in the declaration of division.

Year-end statements: Income & expenses

The year-end statements list the expenses and income of the owners’ association. Here, the buyer can see how high the annual costs for the building are and how they are distributed among the individual residential units.

Amount of the house money: Community finances

The house charge is a monthly contribution that owners pay to finance the common property. The buyer should know the amount of the house charge in order to be able to estimate what financial burden will be placed on him.

Amount of maintenance reserve for repairs

The maintenance reserve is a financial reserve formed by the owners’ association to finance repairs and maintenance measures on the common property. The buyer should know the amount of the maintenance reserve and whether it is sufficient to finance upcoming repairs and maintenance measures.

Previous resolutions of the condominium owners’ association

The buyer should know what resolutions the community of owners has adopted in the past, as they may have an impact on future costs and obligations.

Community Rules: Rights & Duties of the WEG

The community rules set out the rights and obligations of the owners and the regulations governing the management and use of the common property. The buyer should check the community rules carefully to know which regulations apply to him.

That is why a preliminary purchase agreement is important

Under certain circumstances, it may also be worthwhile to agree a preliminary purchase contract. This is particularly worthwhile if you have found a suitable buyer, but the actual sale will still take some time. Through a preliminary purchase agreement, you can already make the sale binding and thus secure a buyer at an early stage without having to pay the purchase price immediately.

Preliminary purchase agreement secures buyer and seller

Notary appointment: This is the task of the notary

The notary plays an important role in both the preliminary purchase agreement and the purchase agreement itself. He is legally obligated to take into account the interests of both parties to the contract and to draft a legally sound contract.

The most important tasks of the notary at a glance:

• Drafting of the preliminary purchase agreement
• Registration in the land register
• Notarization of the final contract

Drafting of the preliminary purchase agreement

In the case of a preliminary purchase agreement, the notary will usually first prepare a draft contract that sets out the arrangements and agreements between the seller and the buyer. Then, all relevant documents are reviewed to ensure that the apartment is properly divided and described.

Registration in the land register

After the preliminary purchase agreement has been signed by both parties, the notary is also responsible for registering the preliminary agreement with the land registry in order to file a priority notice in the land register. This priority notice ensures that the buyer is entered in the land register as soon as the final purchase agreement is signed.

Notarization of the final contract

When drawing up the final purchase agreement, the notary assumes a similar role to that of drawing up the preliminary purchase agreement. He ensures that all legal aspects are taken into account, such as registration in the land register and payment of the purchase price. The notary also certifies the signatures of both contracting parties and ensures that the purchase agreement is entered in the land register.

Conclusion: contract of sale for the sale of apartments

In summary, the purchase contract is one of the most important aspects of the sale of a condominium. It sets out all the conditions and obligations associated with the purchase of the apartment and ensures that the sale is legally sound. In some cases, it is also worthwhile to draw up a preliminary purchase agreement, which will safeguard both you and the buyer. Allow yourself enough time to collect all the important documents and carefully review the purchase contract drawn up by the notary so that nothing stands in the way of the successful sale of your apartment.

Der Beitrag Apartment sale purchase agreement: What to look out for? – Content, notary & documents erschien zuerst auf ℄ Real Estates.

Rights and obligations of the community of owners

A community of heirs arises when several persons become co-heirs to the estate of a deceased person. As members of the community of heirs, the co-heirs have various rights and obligations.

Rights: disclaim inheritance, sell inheritance & dissolution

The rights include, among others, the right to use the inheritance and the right to sell the inheritance share. Each co-heir has the right to sell his or her share of the inheritance, whereby the other co-heirs have a right of first refusal. There is also the right to dissolve the community of heirs if the community of heirs no longer functions or there is a dispute about the inher itance.

In addition, the co-heirs are permitted to disclaim the inheritance under certain circumstances if they do not wish to accept it or if this would mean that they would have to assume the decedent’s debts. The disclaimer must be made within a certain period.

The rights at a glance:

• Reject inheritance
• Right to use
• Right to sell the inheritance
• Right of first refusal
• Right to dissolve the co-ownership community

Duties: Rental agreements, management & Co.

The duties of the co-heirs include, among other things, the assumption of tenancy agreements if the decedent was a tenant of an apartment or house at the time of his or her death. The co-heirs also have an administrative duty towards the inheritance. They must manage the inheritance properly, maintain it and, if necessary, carry out maintenance measures.

Another important duty of the co-heirs is the payment of the estate’s liabilities. The co-heirs are jointly liable for the decedent’s liabilities and must ensure that these are paid. In doing so, they must also take into account the taxes of the inheritance.

Your duties summarized:

• Assumption of leases
• Management duty
• Payment of the estate liabilities

Prerequisite for apartment sale

In order to sell an apartment from a community of heirs, all heirs must therefore agree to the sale. A sale can only take place jointly and by mutual agreement. This requires close cooperation and agreement between the heirs to ensure smooth administration of the inheritance.

Heirs must agree on the sale of the apartment

However, in practice, it can often be difficult to agree on a joint sale. There are often emotions and memories associated with the property, which can make the issue sensitive for some heirs.

It is therefore not uncommon that individual heirs do not yet want to or cannot agree to a sale. In some cases, this can lead to disagreements and disputes regarding the inheritance. We will now take a closer look at the options available.

Dispute & conflict in the community of heirs

If the community of heirs disagrees on the sale of the apartment, it may be difficult to find an amicable solution. If all heirs refuse their consent to the sale, the property cannot be sold.

In this case, there are various ways in which the community of heirs can proceed.

Allow inheritance share to be paid out by co-heirs

One possibility is that a single co-heir pays off the other co-heirs and thus becomes the sole owner of the property. If a co-heir wishes to pay off the other co-heirs, the value of the property and the shares of the co-heirs must first be determined. An expert or surveyor can be consulted for this purpose. Then the share of each co-heir is calculated on the basis of the value of the property. The co-heir who wishes to pay out the other co-heirs must then pay out the corresponding share to the other co-heirs in order to acquire their shares in the property.

This is how the payment of an inheritance share works:

• Determination of the real estate value
• Calculation of the share of inheritance
• Payment to co-heirs is made

Sell inheritance share to third party

However, it may happen that the other heirs do not agree or are unable to acquire the selling heir’s share. In this case, the selling heir can sell the share to a third party. The prerequisite for this is that the co-heirs have been granted a two-month right of first refusal and that the sale of the inherited share is only possible as a whole. Therefore, if you decide to sell the part of your inheritance, this refers not only to the apartment, but also to the rest of the inheritance.

Partition auction by district court

The partition auction in the community of heirs by the district court is usually the last resort. If the heirs do not agree, an heir can apply for a partition auction. The district court will then auction off the property in order to subsequently divide the proceeds among the co-heirs. However, this route is often associated with high costs and usually results in significantly lower proceeds than a private sale.

The partition auction at a glance:

• Last resort in case of dispute
• Settlement by local court
• Division of the proceeds between the heirs
• Disadvantage: High cost & low purchase price

Procedure: Sell inherited apartment

When several heirs have inherited an apartment and decide to sell it, they must follow certain steps in order to carry out the sale in a legally correct manner. This requires good planning and coordination within the community of heirs, as well as the involvement of an experienced notary to ensure that the sales process runs smoothly.

Here are the most important points in advance:

1. Consent to sale by entire community of heirs
2. Marketing of the property
3. Preparation of the purchase contract at the notary
4. Payment of the purchase price and settlement

Approval for sale

First, the community of heirs must agree that the apartment is to be sold. All heirs must agree to this. Once an agreement has been reached, a joint resolution must be passed that regulates all aspects of the sale, such as the sale price, the division of the proceeds among the heirs and who will carry out the sale.

Marketing of the property

After the community of heirs has decided to sell the apartment, the property must be offered on the market. For this purpose, a real estate agent can be hired to evaluate the apartment, prepare real estate exposés and take over the marketing. Alternatively, the heirs can sell the apartment themselves by placing advertisements or using online platforms.

Preparation of the purchase contract at the notary

Once a buyer has been found, a notary appointment must be arranged in which the purchase contract, conveyance and land register amendment are carried out. The purchase contract regulates all details of the sale, such as the purchase price, the time of transfer of ownership and all other conditions. The conveyance is the formal declaration by the seller that he is transferring ownership of the property to the buyer. The land register amendment is the registration of the buyer as the new owner of the apartment in the land register.

Payment of the purchase price and settlement

After all formalities have been completed, the buyer must pay the purchase price. As soon as the purchase price is received, the land register change is carried out and the buyer is registered as the new owner of the apartment.

Applying for a certificate of inheritance: This is what matters

In the course of the sales process, the heirs must provide proof that they own the inherited house. Often, a certificate of inheritance is required for this, as the deceased owner is still registered as the owner in the land register. The certificate of inheritance can be applied for at the probate court, but it is not necessary in every case. Alternatively, succession can also be proven by a European certificate of probate or a disposition of property upon death in accordance with Section 35 (1) GBO, provided this is contained in a public document (e.g. a notarial will) and the record of the opening of the disposition is submitted.

Land register registration in the event of a speedy sale

It is advisable for the heirs to have their ownership position entered in the land register before the sale, if necessary, as the land register becomes incorrect after the death of the testator. The heirs are generally obliged to correct the land register and enter them as the new owners. This can be particularly important if the sale takes place years later. In this case, the land register correction should be made as soon as possible and at the latest within two years of the inheritance. The process is usually free of charge within this period.

No transcription necessary in case of later sale

However, if the house sale takes place promptly after the death of the decedent, a land register adjustment is not normally required. In this case, ownership can be proven, for example, by presenting the certificate of inheritance and the buyer can be entered directly in the land register.

The most important things summarized:

• Certificate of inheritance proves new ownership of the apartment
• Alternative: Proof by European Certificate of Succession
• Community of heirs must register as new owners
• Exception: sale takes place shortly after the inheritance takes place

Conclusion: Sale of apartments of a community of heirs

In summary, a sale of an apartment by a community of heirs can be a complex process. For this reason, it is especially important that you and your co-heirs are familiar with your rights and obligations. After the community of heirs has agreed on the sale, the heirs must prove their ownership of the inherited apartment. A certificate of inheritance can be requested for this purpose, but there are also alternative means of proof such as the European certificate of inheritance or a disposition of property upon death. It may also make sense to correct the ownership position in the land register in order to avoid problems in the event of a subsequent sale.

Der Beitrag Selling an apartment in a community of heirs: One of them does not want to sell – What to do? erschien zuerst auf ℄ Real Estates.