Selling an apartment: what to consider? When selling a condominium in Germany, there are several important aspects to consider in order to avoid potential mistakes and risks. Here are some points you should consider. This quick checklist refers you to separate guides, for example on the asking price, selling an apartment from a community of owners or the big question: to sell with or without an estate agent? How to avoid the typical mistakes when selling a home. The ultimate preparation for selling your home!
Realistic pricing is crucial. Review comparable properties in the area to determine an appropriate selling price. An inflated price can put off potential buyers, while too low a price can reduce your profit.
This is how you create an offer price in line with the market:
Instead of hundreds of e-mails, questions, answers and credit checks before the first viewing even takes place, 67% prefer to engage an estate agent, in large cities even almost 80%. We do it for you! Valuation, sale, handover and completion.
Make sure that the apartment is in good condition. Repairs or renovations can affect the selling price. A potential buyer may be put off by hidden defects or necessary renovation work.
Make sure you have all relevant documents such as the land register extract, the declaration of division, the energy certificate, the floor plan, minutes of owners’ meetings and any building permits to hand. These documents must be made available to the potential buyer.
You can hire an estate agent to help you market the apartment and manage the sales process. However, bear in mind that estate agent fees will apply. Alternatively, you can also sell the apartment privately, which can save costs but requires more time and effort.
Create appealing photos and a detailed description of the apartment for marketing purposes. Online real estate portals are popular platforms for advertising properties. A professional presentation can increase the chances of a quick sale.
The purchase agreement must be carefully drafted to protect the rights and obligations of both parties. A lawyer can assist in drawing up and reviewing the contract.
The purchase contract must be notarized. The notary verifies the identity of the parties, clarifies open questions and ensures that the transaction is legally compliant.
Handing over the apartment: Arrange a handover date on which you can hand over the apartment to the buyer. Document the condition of the apartment when you hand it over to avoid possible disputes later on.
Speculation tax ✅
If you sell the apartment within ten years of buying it, speculation tax may apply. Check whether you are affected by this regulation.
The sale of the apartment may have tax consequences. It is advisable to consult a tax advisor about the tax implications of the sale.
It makes sense to prepare thoroughly and, if necessary, seek professional help from a real estate agent, a lawyer and a tax advisor to minimize potential mistakes and risks. Every sale can have individual aspects that need to be taken into account.
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