Selling an apartment building in Cologne: instructions, estate agents, taxes

Are you thinking about selling your apartment building in Cologne? Selling a property of this type requires thorough planning and implementation in order to achieve the best possible price, regardless of whether your property is fully rented or has vacancies. The most important thing for you, selling an apartment building 2024.

Selling an apartment building in Cologne: step by step

Let’s start with the question: How much is your apartment building in Cologne actually worth? Find out all the steps of the sales process, from the valuation to handing over the keys.

Determine the value of your apartment building

The value of your property depends on various factors, including the location, the size of the apartments and the current condition of the building, with its typical construction defects over the decades. A realistic sales price is crucial for a successful sale.

How to value an apartment building

The valuation of an apartment building is carried out using specific methods such as the comparative value method, the asset value method and the income capitalization method. A combination of these methods provides a realistic market value.

At least two of these methods are usually used to determine an exact value.

• Valuate apartment building
• Typical evaluation procedures
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Selling in Cologne: What to look out for?

When selling your apartment building in Cologne, you should consider a few important aspects:

1. Location and property prices: The target group of buyers depends heavily on the location and current property prices.
2. Documents: Make sure that you have prepared all relevant documents such as floor plans, land register excerpts and tenant lists.
3. Good contacts or an estate agent: An experienced estate agent can help you to organize the sales process efficiently and to approach the right buyers.

Location and property prices: The buyer target group in Cologne

Whether Altstadt-Nord, Neustadt-Nord, Lindenthal, Neustadt-Süd, Rodenkirchen, Ehrenfeld, Innenstadt, Porz, Kalk or Mülheim: Cologne is an attractive real estate market with various districts and a high demand for living space. The target group of potential buyers is looking for long-term investments and is prepared to pay corresponding prices.

You need to reach people who focus on long-term investments and do not need immediate cash flow.

Documents: Floor plans, land register excerpt, tenant lists, etc.

Before you start the sales process, make sure you have all the necessary documents for the property sale ready. This includes, among other things:

1. Land register extract
2. Parcel map
3. Building plans and building permits
4. Refurbishment status
5. Tenancy agreements and tenant list
6. Operating cost statements
7. Energy certificate
8. Status report or expert opinion

Good contacts or a good broker

As apartment buildings in Cologne often fetch high prices, it is advisable to consult an experienced estate agent. An estate agent has the necessary contacts and can help you to approach the right buyers and achieve the best possible price.

Ultimately, it is always a personal question as to whether you want to sell with or without an estate agent.

Taxes when selling in Cologne: What will you have to pay?

A quick look at the tax aspects of selling your apartment building in Cologne:

1. Speculation tax: Observe the speculation period for tax-free sales.
2. 3-object rule in Cologne.
3. Differences between asset deals and share deals: effects on taxation.

Speculation tax: selling tax-free?

The speculation period is generally 10 years for rented properties. If you sell within this period, you must pay tax on the profits. After the period has expired, the sale is tax-free.

Further details on the 3-property rule and asset deals vs. share deals can be found in our article here.

Real estate & tax coaching

Do you need further support with the sale of your apartment building in Cologne? We offer real estate and tax coaching by experts and investors. Contact us for more information:

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Also discover our resources for real estate beginners:

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