Sell apartment house: complete or each apartment separately?

When it comes to selling an apartment building, there are several ways to do it. One possibility is to sell the entire building as a unit. Another option is to divide the building into individual apartments and then sell them separately. Both options have advantages and disadvantages that must be considered when making a decision.

You have these two options:

1. Sell entire property
2. Sell individual apartments

In most cases, owners decide to sell the entire property.

Advantages & disadvantages of a complete sale of the property

If you decide to sell the entire apartment building, the sales process is much less complicated for a complete sale. After all, it is easier to find a buyer for a complete building than for several separate apartments. At the same time, complete apartment buildings are less in demand than individual apartments or single-family homes, since apartment buildings are usually only of interest to capital investors and investors.

However, selling the entire building can also fetch a lower price because the buyer bears the risk of taking on potential vacancies and rental problems.

Here are the pros and cons:

• Advantages: Easy & fast sale
• Disadvantages: Low retail price

Therefore it is worth dividing the apartment house

In comparison, dividing the building into individual apartments can increase the selling price. Since each apartment can now be sold separately, it may also be easier to find a buyer for it.

However, the disadvantage of this is that the division of the building into separate apartments may involve additional costs, such as the construction of partition walls and the installation of separate utilities. In addition, you should allow enough time in advance, as a division of the apartment building must be carefully prepared and processed.

• Advantages: Increased purchase price & many interested parties
• Disadvantages: Cost and time intensive

Even if a division into several apartments requires a lot of resources, it can be worthwhile to divide the house into several ownership shares. To ensure that this works smoothly, you have a few things to consider.

Divide apartment building into individual apartments

In order to divide the apartment building into individual apartments and sell them separately, you need to take certain steps. We will now take a closer look at how this works.

Certificate of Completeness by Building Inspectorate

If an apartment building is divided into several condominiums, a condominium owners’ association (WEG for short) is created. An important prerequisite for this is the existence of a certificate of self-containedness in accordance with the German Condominium Act (Wohnungseigentumsgesetz). This certificate is issued by the responsible building supervisory authority and confirms that the individual apartments are self-contained. This means that they have a separate, lockable entrance, their own ceilings and walls, and their own WC.

These conditions must be met for an apartment to be considered locked:

• Separate, lockable access
• Own ceilings & walls
• Own WC

Partition plan via architect or engineer

In addition to the certificate of separateness, you also need a partition plan of the entire building. This plan is an important part of the declaration of partition and shows how the building will be divided.

The most important information about the distribution plan at a glance:

• Is additionally required
• Shows division of the building
• Includes location & size
• Creation by architect or engineer

It must be prepared by a competent architect or engineer and indicate the exact size and location of each dwelling.

Notarization of the declaration of division

Once you have received the certificate of seclusion and the partition plan, you can prepare the declaration of division. This states that each owner will convert his or her property into co-ownership shares corresponding to the share in the entire residential complex. The declaration of division must be notarized to be legally effective.

Land register entry of the co-ownership shares

Finally, you must make the entry in the land register to secure the co-ownership shares. This is usually carried out by a notary, who draws up the title transfer deeds and applies for the entry at the relevant land registry office.

Once this step is complete, you can sell the apartment in question. But what happens to the tenants after the sale?

This is what needs to be considered: Right of first refusal for tenants

If you convert an apartment building into individual condominiums and sell them, you must bear in mind that the current tenants have a right of first refusal. This means that the tenants have the opportunity to purchase their current apartment on the same terms as agreed in the purchase contract between you and another buyer. The right of first refusal serves to provide the tenants with a certain degree of security and to ensure that they cannot be kicked out of their apartment without further ado.

However, it is possible that the tenant will not exercise his right of first refusal. In this case, you can sell the apartment to another buyer who is willing to fulfill the conditions of the purchase agreement.

Protection against dismissal when selling a house

In addition, according to the German Civil Code (BGB), the buyer is bound by the existing leases. This means that tenants retain their leases even after the house is sold and do not have to fear that they will be terminated.

So if you intend to sell the individual apartments in the apartment building, you must observe a notice lock-up period of at least three years. During this time, the new buyers cannot simply terminate the rental agreements.

Tip: To avoid potential conflicts between buyers and tenants when selling a house, you should include binding regulations in the purchase agreement. These regulations should refer to outstanding rent claims, operating cost payments and deposit repayments.

In summary:

• Buyer is bound by existing leases
• Termination of tenants after sale not possible
• Termination lock period of 3 years
• Tip: Record all formalities in the purchase contract

Conclusion: multi-family house apartments for sale individually

The decision whether to sell the apartment building as a whole or divided into individual apartments depends on various factors, such as the condition of the building, the location and the demand for housing in the area. If you decide to divide the apartment building into individual apartments and sell them, you can look forward to high sales prices. At the same time, it is important to consider both the tenants’ right of first refusal and the protection against dismissal.

Apartment for sale in Cologne Kriel

Formerly known as the “Herrliche Kriel”, the former village settlement has now become one of the top adresses in the upscale Lindenthal district of Cologne. The location is excellent, the connections to the other districts of Cologne very good and the standard of living high. The Beethovenpark and Hans-Groß-Park allow relaxation and recreation and the cityscape is characterized by romantic old buildings and modern new construction.

Learn all the steps here: Sell property

Therefore, in Kriel you can count on a quick apartment sale:

• Excellent location
• Very good connection to other parts of the city
• High standard of living
• Variety of green spaces
• Beautiful cityscape

Between Deckstein & Klettenberg: Map

The district of Kriel in Lindenthal stretches from Sülzgürtel to Morbacher Straße and borders Deckstein, Neu-Lindenthal and Klettenberg. The neighborhoods of Braunsfeld, Junkersdorf and Neuehrenfeld are also not far away by car and public transport.

Now a look at the mesolayer of Kriel:

Kirchberger Straße, Morbacher Straße & Co: Guidebook

Apartments in Kriel have enjoyed great popularity for quite some time. This is reflected in the prices per square meter. These are particularly high in the south-west of the district. The most expensive streets include Kirchberger Strasse, Hermeskeiler Strasse, Morbacher Strasse and Guldenbachstrasse. Apartments are also in high demand near Zülpicher Strasse. We will come to the exact prices per square meter in a moment.

Here are our free guides in advance.

• Sell apartment
• Sell house
• Sell apartment house
• Sell land
• Overview: Sell property

Loft, old building apartment & penthouse: square meter prices

If you would like to sell your apartment in Kriel, you can expect an average of 5,550 euros per square meter, in the south-west of the city even 6,000 euros. The exact asking price of your property depends on the valuation. We always recommend having this done professionally. Year of construction, equipment, location and condition of the property are only a few of the decisive factors.

You can find out more here:

• Rate apartment
• Rate house
• Rate apartment house
• Rate property
• Overview: Valuing real estate

Valuing an apartment: Determining the asking price

Every owner wants to market his property at the best possible price. For the buyer, the price must be realistic and comprehensible based on the characteristics of the property. In the offer price determination, gut feeling is not a good advisor, as emotions get in the way of a realistic price determination. With a market value appraisal from a professional valuation, you can find out what the optimal selling price is. If an offer is too expensive, the sale is unnecessarily protracted and can even declare a property a “slow seller”.

Advantage of the valuation: setting a realistic price

When it comes to determining the value of the property, the size, location and condition of the property play an important role. Other influential details are the demand in the particular location in Kriel, as well as the comparative prices with other properties. Turn to an experienced real estate agent for the valuation, you exclude the risk of loss and all other pitfalls. You save time and do not have to deal with the complex issue of selling real estate yourself.

These factors affect the value of your home:

• Location
• Size
• State
• Year of manufacture
• Equipment
• Market situation

A garden, terrace or balcony also increase the value of your apartment:

Process: From planning to execution

Selling a condominium requires consideration in terms of the appropriate timing and must be well planned. Extensive preparations are necessary. In addition, the appropriate price must be found and the property must be marketed in the best possible way. This is followed by the completion of the sale, in which you will be assisted by a notary as a neutral intermediary. The entire sales process can be divided into three phases:

Preparation – Sale – Settlement

So that you have the most important steps of the process at a glance, here is our checklist:

1. Assemble important documents
2. Rate apartment
3. Create exposé
4. Advertise apartment
5. Preparesales meetings
6. Conducttours
7. Credit check of the interested parties
8. Draw uppurchase contract
9. Notarization & Signature
10. Processing

Let’s take a closer look at each phase.

Preparation phase: timing & financial planning

As part of the sales planning process, you will be faced with questions about the duration and process of the sale, as well as the asking price that is appropriate for your property. Write down in advance what ancillary sales costs you will incur. These include the broker’s commission, notary fees, fees for obtaining individual documents and, if applicable, the cost of advertising your home. Also, set a realistic selling date and consider what modernization and renovation work you will need to do in advance.

These factors are what preparation is all about:

• Sales period
• Service charges
• Real estate preparation

Sales phase: marketing & purchase price negotiations

To get your apartment to the buyer, you need to market your property first. This can be done either defensively or offensively. If you prefer a discreet sale or if your apartment is particularly exclusive and luxurious, you can also opt for an off market sale.

Continue reading here: Marketing real estate

Three marketing strategies:

• Defensive
• Offensive
• Off Market

The listing of your apartment is followed by the viewing. In order to get a better picture of the apartment, most future owners would like to attend the viewing in person. It is rare that the prospective buyers are represented by someone else. Prepare yourself thoroughly for the sales talks and purchase price negotiations and dare to use your documents as a support for your argumentation.

Processing: Purchase contract, notarization & handover

The buyer is found? Congratulations! If the credit check is positive, you can start drafting the purchase contract. This will then be signed and notarized together with the buyer at the notary appointment. Important: Do not hand over the apartment until you have received the full purchase price. You have two options for paying the purchase price: Either have the money transferred directly or have it done through the notary’s escrow account.

Apartment handover only after receipt of the full purchase price

The property must be handed over broom-clean, so you should thoroughly clean and tidy your apartment beforehand:

Sell apartment privately or with a broker?

This question faces every owner who wants to sell his apartment. Private owners usually undertake the sale of apartments only once in a lifetime and do not have the necessary experience. If you want to sell a property in Kriel, you should consider in advance whether it is an offer to owner-occupiers or to capital investors. Even if the key data are the same: to convince an investor, even more negotiation expertise and real estate core competence are necessary.

Target group influences sales strategy

In other words, the more exclusive the property, the more we advise leaving the sale to an expert. Here is an overview of the advantages and tasks of a real estate agent.

Hiring a real estate agent: tasks & benefits

An experienced real estate agent supports you during the entire sales phase and also advises you on the topics of taxes and financing. He takes care of the preparation and planning of the sale, the sales phase and settlement. The advantage for you as a seller: You save time, energy and by avoiding unnecessary mistakes also costs! Some brokers also bring along their own buyer and investor network, which makes the sale immensely easier.

Advantages: More time & less stress

The tasks of a broker summarized:

• Valuation of the property
• Checking the buyer’s creditworthiness
• Creation of a professional exposé
• Creation of meaningful photos of your object
• Procurement of all documentsnecessary for the sale
• Development of a marketing strategy
• Coordination & implementation of visits
• Preparation of the purchase contract
• Conducting sales negotiations until closing
• Accompaniment of the notarization procedure
• Professional object handover

Private real estate sale without an agent: tips

If you decide to sell your apartment without the help of a real estate agent, it depends on a few details. Plan in advance what additional costs you will incur and how long the sale of the apartment may take. Analyze your target group in advance and choose a suitable marketing strategy. Protect yourself from non-payment by checking the creditworthiness of the prospective buyers and prepare a handover protocol in addition to the purchase contract.

Here is our guide: Selling property privately

With these tips, you will be well prepared for a private sale:

• Weigh incidental costs in advance
• Determine realistic time of sale
• Detailed preparation
• Select suitable marketing strategy
• Check creditworthiness of the buyer
• Prepare handover protocol

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:

• Real Estate Cologne
• Sell property Cologne

Apartment for sale in Cologne-Müngersdorf

Müngersdorf is the stronghold of Cologne’s sports culture. The district is home to the Rheinenergie Stadium, the cycling stadium and Germany’s only sports university. Even Lukas Podolski’s personal box is at home here. In addition to soccer, people here ride bikes, play beach volleyball and swim competitively in the stadium pool. Aachener Straße is an inviting place to drink coffee and shop, while the large St. Vitalis church contributes to Müngersdorf’s historic cityscape.

Learn all the steps here: Sell property

In Müngersdorf, you can therefore count on a quick sale of apartments:

• Sports Culture
• Numerous leisure activities
• Historical Monuments & Sights
• Several cafes & restaurants

West of the Rhine on the beach edge of Cologne

Pretty Müngersdorf is located in the Lindenthal district and borders Junkersdorf, Lövenich, Ehrenfeld and Braunsfeld. Widdersdorf and Vogelsang are also not far away.

Now a look at the mesolocation of Müngersdorf:

Böcklinstraße, Feuerbachstraße & Co: Advisor!

Apartments in Müngerdorf are popular. If you want to sell an apartment north of Brauwellerweg, you can enjoy the highest selling prices in the district. For example, Feuerbachstrasse, Rethelstrasse, Böcklinstrasse and Franz-Seiwert-Strasse are among the most expensive streets. Square meter prices are also very high in the north of the district between Am Lindenweg and Gregor-Mendel-Ring. Straight to the exact prices.

In advance, our exclusive guides:

• Sell apartment
• Sell house
• Sell apartment house
• Sell land
• Overview: Sell property

Old building apartment, loft & penthouse: square meter prices

5,150 euros per square meter – that’s how much an apartment costs in Müngersdorf. Whether divorce, inheritance or family reunification, time pressure and stress often lead to the sales price being set incorrectly. To avoid this, we always recommend a valuation. After all, there are a variety of factors that influence the value of your apartment.

Learn everything you need to know here:

• Rate apartment
• Rate house
• Rate apartment house
• Rate property
• Overview: Valuing real estate

Sell apartment privately or with a broker?

Real estate sellers in Müngersdorf benefit from immense demand for residential property. On the other hand, there is a low supply of condominiums. From this point of view, selling apartments should not pose any major challenges, owners find, and tend toward private sales in their considerations.

Private real estate sale: tips

Those who sell their property without the assistance of a real estate agent should plan the preparation of the offer and the handling of the sale in concrete terms. A calculation of the cost factor also proves to be an advantage and gives knowledge about how high the expenses for the sale of apartments are for private owners. From a financial point of view, the determination of the market value is the largest item on the list for the sale of real estate. Therefore, we recommend private sellers to make a realistic time and financial planning in advance.

Sell apartment privately – tips:

• Detailed preparation
• Realistic time & financial planning
• Professional valuation

Real estate agent in Müngersdorf: Advantages

Another important factor is the time spent obtaining the documents, preparing the exposé, answering questions and the on-site visit. If you want to sell professionally, save a lot of time, spare your nerves and not lose money unnecessarily, a real estate agent in Müngersdorf is the best choice. With many years of experience and core competence, the real estate agent you trust will take over all the tasks that arise in the context of marketing your property and lead to the successful conclusion of the sale.

The advantages of a broker:

• Many years of experience
• Market knowledge
• Own buyer network
• Tax & Finance Consulting
• Error avoidance
• Professional valuation

Once you have decided on one of the two options, the next step is the process of selling the property. And this begins with the valuation:

Real estate valuation: Determine purchase price

No owner should do without a valuation for the apartment in Müngersdorf. The fact is that a property sale based on gut feeling or the naming of the ideal value often ends in an overvaluation and the associated consequences. By renouncing a valuation, a sale can be prolonged. Another risk is high losses due to a too low sales price.

Real estate valuation determines the realistic purchase price

Data on location, property and land size, equipment and infrastructural integration are used to determine the market value. A neutrally determined and fact-based offer price ensures your serious performance and is a basis when it comes to the profitable and secure sale of real estate in Müngersdorf.

These factors affect the value of the property:

• Location
• Equipment
• State
• Construction
• Infrastructure of the district
• Comparison objects

Procedure: From preparation to handover

Selling your apartment in Müngersdorf in the best possible way requires not only negotiating skills and organizational talent. As a seller, you also need to keep a good overview of where you are in the process and what step is needed next for a successful transaction. The sales process can be divided into three phases.

The 3 phases of selling an apartment:

1. Preparation phase
2. Sales phase
3. Processing

Let’s now take a closer look at the exact procedure:

Planning: documents, exposé & Co.

Well prepared is half sold! This also applies to apartments in Müngersdorf. So make sure in advance that all important documents are available. This includes the land register extract, energy certificate, as well as invoices of past renovation and modernization measures. Also decide whether you prefer a private sale or if you would prefer to sell with an estate agent and set a realistic sales period. Get an overview of the incidental costs and create a professional real estate exposé.

The individual steps of the preparation phase:

• Private sale or with broker?
• Real estate valuation
• Compile documents
• Prepareexposé
• Set realistic time period
• Establish financial plan

Marketing an apartment: Sales Strategies

The property is prepared for sale, all documents are together and the sale period is set? Then you now have to sell your apartment. Here you can choose between three sales strategies, each with their own advantages and disadvantages depending on the location, type of apartment and type of house.

Read more here! Marketing real estate: Strategy

So you can choose between these three strategies:

• Offensive
• Defensive
• Off Market

Once your apartment has been advertised and contact has been established with prospective buyers, organize viewing appointments, carry out credit checks and conduct sales negotiations. Feel free to use your existing documents as a basis for argumentation during the purchase price negotiations.

Settle sale: Purchase contract and handover

Once the buyer has been found and his creditworthiness has been checked, the final steps of the sale are taken. At the notary, you and the buyer sign the contract. After that follows: Payment of the negotiated purchase price after updating in the land register, or as a technical term: priority notice of conveyance. Once you have received the purchase price, either directly into your account or in advance via the notary’s account, you hand over your apartment to the new owner.

Here is an overview of the last steps:

• Notary appointment
• Notarization
• Signature
• Entry in the land register
• Handover of the property

You have now officially sold your apartment in Müngersdorf – congratulations!

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:

• Real Estate Cologne
• Sell property Cologne

Apartment for sale in Cologne-Deckstein

Köln-Deckstein is one of the most upscale corners of Cologne. Away from the hustle and bustle of the big city, the standard of living is high and the infrastructure and connections to neighboring districts are very good at the same time. Deckstein is rather a cozy neighborhood that invites to rest and relaxation. Here, apartment buildings and villas are lined up next to each other. Both private gardens and public green spaces are always well maintained and the streets are clean. Thus, the quiet location and proximity to nature make the Veedel one of the most sought-after residential neighborhoods in the city’s Speckgürtel.

Learn all the steps here: Sell property

Therefore, in Deckstein you can count on a fast apartment sale:

• High standard of living
• Good infrastructure
• Cozy atmosphere
• Well maintained green areas
• Quiet location

Coveted residential location in the elegant district of Lindenthal

The elegant Deckstein is located in the Lindenthal district in the west of the media metropolis Cologne. Neighboring districts include Braunsfeld and Kriel. And by public transport, Altstadt, Neustadt and Junkersdorf are also not far away.

Now a look at the mesolayer of capstone:

Militärringstraße, Decksteiner Straße & Co: Tips

Whether maisonette, loft or micro apartment, Deckstein is considered one of the city’s most attractive residential districts. The most sought-after residential location in the Veedel is in the west between Militärringstraße, Viktor-Schnitzler-Straße and Decksteiner Straße. Top prices can also be found in the north above Dürener Strasse. The exact real estate prices are the same.

In advance, our guides on the subject of selling an apartment:

• Sell apartment
• Sell house
• Sell apartment house
• Sell land
• Overview: Sell property

High prices in one of the most expensive neighborhoods!

How sought-after an apartment is in Deckstein is reflected in the prices per square meter here. If you want to sell your apartment in upscale Deckstein, you can look forward to an average of 6,050 euros per square meter, and even 6,900 euros in the most expensive corners. One of the absolute record prices in Cologne! How high exactly the purchase price is in the end can only be determined by a professional property valuation.

Read more here:

• Rate apartment
• Rate house
• Rate apartment house
• Rate property
• Overview: Valuing real estate

Meaningful photos are among the important documents you need for a quick and efficient sale:

Preparation: Documents & Valuation

Selling a property is a time-consuming, knowledge-requiring and nerve-wracking task. The planning and preparation are more complex than most owners realize. From the idea to sell, to the marketing and finally to the conclusion of the contract and the handover, a lot of time passes and the seller is faced with a whole series of tasks. That is why we always recommend detailed preparation. Because: The better the planning, the more stress, mistakes and time you will save later on.

Prepare apartment sale – checklist:

1. Assemble important documents
2. Set time
3. Include incidental costs
4. If necessary, hire a broker
5. Setoffer price
6. Prepare property

Prepare documents: Energy certificate, floor plan & Co.

There are some important documents that you need for the sale of your apartment. You will need them for the valuation during the preparation phase, as well as at the end during the settlement. In addition, these documents serve you as a very good basis for argumentation during the sales talks. Therefore, it is advisable to compile all important documents from the beginning and collect them in a folder.

Everything about obtaining the documents & the respective costs: Documents – Checklist

You will need these documents:

• Documents relating to the property (construction plans, site plan, etc.)
• Current extract from the land register
• Area plot / residential
• Service charge overview
• List of recent renovations and modernizations
• Insurance documents (fire insurance)
• Energy certificate

Time of sale and financial planning

When you think about planning the sale of real estate, you should focus on a certain period. This is, of course, significantly related to the reason for the sale. In addition, you should take into account all the important additional costs in advance. The procurement of documents, the preparation of the legally required energy certificate, the coordination of viewing appointments also cost time and money. In addition, there are the costs for the broker’s commission, notary fees and taxes.

You will incur these additional costs:

• Advertising costs
• Brokerage commission (optional)
• Notary fees
• Taxes
• Costs for the preparation of the property (optional)

Valuation: Determine offer price

One of the most important steps is setting the bid price. However, pricing also provides the greatest margin for error. Do not let your gut feeling guide you. Therefore, you should always have a professional real estate app raisal performed. Market analyses, property data, location and equipment, as well as comparative values of other properties in similar locations and with similar equipment are included in the market value assessment by experienced real estate experts. Due to the neutral valuation, which is carried out without any emotional attachment to the house or apartment, you have the certainty that the offer price does not show the ideal, but the authentically attainable sales price.

Based on these factors, the value is determined:

• Location
• Equipment
• Year of manufacture
• State
• Comparative values of other properties

Renovation and refurbishment, as well as high-quality furnishings can increase the value of the apartment immensely:

Procedure: From the exposé to the notary appointment

The apartment is prepared for sale, If you are selling your apartment in Deckstein, you should develop a targeted marketing strategy and focus all details on the successful conclusion of the contract on your terms.

Sales phase: contact with interested parties & price negotiations

You have decided to sell the apartment, developed the strategy, selected portals for advertisements, obtained the energy certificate and gathered the documents. But some important aspects are still missing. You need an exposé that must contain all the facts about the property, a meaningful description and expressive pictures. We recommend to listen to your mailbox and to check your mails daily, starting from the day of the advertisement, in order to get in contact with prospective buyers. This is followed by viewings and sales talks – the core of the sales phase.

Reading Tip! Marketing real estate: Strategy

Here is an overview of the sales phase:

• Create exposé
• Market apartment
• Accept inquiries from interested parties
• Organize viewing appointments
• Sales talks & purchase price negotiations
• Credit check

Processing at the notary: notarization & handover

During the final steps of the apartment sale you will be accompanied by a notary. The hiring of a notary is required by law. As a neutral and impartial mediator between seller and buyer, he draws up the purchase contract, clarifies final questions, notarizes the contract and initiates the change of ownership in the land register. Once you have received the purchase price, either directly or via the notary’s escrow account, you hand over your apartment in Deckstein to the new owner, settle the final bills and taxes, and the sale is complete.

The sales process summarized:

• Create purchase contract
• Notary appointment & notarization
• Receipt of the purchase price
• Handover of apartment & key
• Pay service charges
• Pay taxes if applicable

Hire a broker or sell privately?

Those who look into the future and see their professional or private perspective in a local reorientation, think about selling their real estate. For a quick execution and the achievement of the desired selling price it is recommended to invest in a local real estate agency with know-how. All preparatory and executive actions will be carried out with the utmost competence and will lead to a satisfactory result. Mistakes that happen to you during a private sale are prevented and time and stress are saved.

The advantages of a real estate agent:

• Years of experience
• Essential expertise
• Market knowledge
• Own buyer network

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:

• Real Estate Cologne
• Sell property 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

The Neuehrenfeld neighborhood borders Bilderstöckchen and Neustadt Nord. The old town is also not far away by public transport, as are the districts of Ossendorf, Lindenthal and Braunsfeld.

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:

• Sell apartment
• Sell house
• Sell apartment house
• Sell land
• Overview: Sell property

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.

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• Overview: Valuing real estate

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:

• Location
• Year of manufacture
• Equipment
• State
• Neighborhood infrastructure
• Connection

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:

1. Preparation
2. Marketing
3. Processing

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:

1. Appointment with real estate agentif necessary
2. Provision of papers
3. Apartment valuation
4. 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:

1. Advertise apartment
2. Organize inquiries from interested parties
3. Arrangement of the viewing appointments
4. Check creditworthiness of interested parties
5. 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:

1. Create purchase contract
2. Notary appointment & certification
3. Entry in the land register
4. Receipt of the purchase price
5. Handover of the apartment & keys
6. 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 energy certificate, the advertisements in various portals and for a valuation. If you have inherited the house together with another family member and the ownership is divided, this results in a new difficulty.

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:

• Real Estate Cologne
• Sell property Cologne