Selling or renting an apartment – The sale of a condominium requires a number of documents other than those required for the sale of a house. Since the apartment is a unit in a multi-family building, in addition to the information about the apartment, potential buyers need all the details that are relevant in relation to the owners’ association and meeting minutes, the common facilities and the overview of maintenance reserves. We recommend that you have the sale of the apartment carried out by experienced estate agents and avoid mistakes in the presentation or handling of the sale.
It is your apartment and you alone can decide who will occupy your current property. This approach is quite real when you own your own home, but when you sell an apartment, the community of owners has a say. Only if the potential buyer acknowledges the community rules and “fits into the house” will the co-owners and the property management agree.
The evaluation and assessment of the interested party proposed by you is carried out in an owners’ meeting on the basis of all criteria relevant to the community. As real estate specialists with many years of experience in the brokerage of apartments, we support you in finding a solvent buyer who is acceptable to the community and in convincing the co-owners.
In order to address prospective buyers, we organise all the necessary documents and act on your behalf as the contact person for the sale of the apartment. Our tasks also include the valuation of the apartment, which takes into account numerous factors more than the market value of a home.
Evaluation, procedure, costs and checklists can be found here:
Central location in the city or rural location? The differences are great!
Selling or renting?
Many apartment owners are undecided whether to sell or rent. The right solution is based on your personal requirements and depends on whether you want to keep the apartment as an investment property or receive the total sum in one lump sum through a sale.
Due to the current steadily increasing demand for apartments, renting can also be worthwhile and give you an advantage. As with the sale, the owners’ meeting must also approve rentals. Therefore, all information about the interested party should be submitted completely and plausibly.
There is no blanket recommendation as to whether renting or selling the home is the better option.
The bottom line is that this decision is up to you. For example, if you want to invest the sale amount in new property, you should sell. If you want to keep the apartment as a security and yield property, renting is the better decision.
For the sale of your apartment, we offer you a checklist that you do not have to work through yourself if you commission us. The important documents include the floor plan, the declaration of partition and an extract from the land register.
Minutes of the owners’ meeting, the document on the fire insurance, the business plan, the housing subsidy statement and the building description as well as overviews of reserves are also necessary. The energy certificate must not be missing either.
You want to sell a house or an apartment, have no experience in the real estate market and want to avoid mistakes at all costs? Then you are well advised to use the comprehensive services of an estate agent and simplify the time-consuming and complex sale of your residential property. When you hire an agent, you don’t have to factor the sale of your property into your schedule, as all tasks are handled directly by your real estate agent and carried out in your best interest.
Real estate agent tips
You want to sell a house or an apartment, have no experience in the real estate market and want to avoid mistakes at all costs? Then you are well advised to use the comprehensive services of an estate agent and simplify the time-consuming and complex sale of your residential property. When you hire an agent, you don’t have to factor the sale of your property into your schedule, as all tasks are handled directly by your real estate agent and carried out in your best interest.
Tasks of a broker
Basically, a real estate agent fulfils all tasks that are important before and during the sales and rental phase. He creates an exposé, determines the market value of your property, advertises your property and is then the interface between you and interested parties. While the creation and publication of an advertisement is a time-consuming but unique task, answering customer enquiries is part of the daily business of an estate agent.
Commission for the broker – The most important regulations
More than 80 percent of all properties for sale or rent are brokered. This means that the owner commissions a real estate agent to advertise the offer and to carry out all tasks up to the conclusion of the contract on his behalf.
Professional brokerage is a service that is agreed between the client and the real estate agent. After the service has been rendered, a commission, the so-called brokerage fee, is due. Who pays the commission depends on the type of commission and the reason for the commission. If you sell your property through an estate agent, the buyer usually pays.
In the case of lettings, the buyer principle has applied since 2015, so that the invoice recipient and commission payer is identical to the person who has commissioned a brokerage service.
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