Checklist: What you need to consider in a WEG

Can I sell my condominium to whoever I want? In principle, you can sell your condominium, but there may be certain restrictions within a WEG. The community rules or declaration of division may have requirements for the buyer in order to protect the community’s interests.

10 simple things you should consider when selling.

Inform the community of owners

Before you start the actual sales process, you should inform the other members of the condominium association of your intention to sell your apartment. In many cases, condominium associations have certain established procedures and rules that must be followed when selling condominiums. This procedure serves to ensure transparency, compliance with community regulations and the maintenance of a smooth process.

Provisions of the community of owners

Depending on the rules of the condominium association, it may be necessary to submit certain documents or information to announce and facilitate the sale. These documents could include details of the apartment, the planned time of sale and other relevant information. The purpose of this measure is to ensure that the community is aware of the sale and can act in a timely manner if necessary.

Check the community rules

The community rules of a community of owners set out specific regulations and guidelines that the owners must comply with.

Before you sell your condo, it’s important to review these rules carefully to make sure you’re meeting all the necessary steps and requirements. For example, some communities may stipulate that the sale must be announced in advance or that certain documents must be submitted. There may also be rules about viewings or access to the property. By understanding and following the community rules, you will ensure a smooth sales process and avoid potential conflicts.

Inform the administrator

The administrator of a community of owners is a central point of contact for questions and matters relating to the property. If you are planning to sell your condominium, you should inform the administrator as early as possible.

This can take the form of a written communication or a personal meeting.

The administrator can help you to handle the sales process correctly, as they are often aware of the exact procedures and requirements. They can provide you with information on required documentation, put you in touch with other owners and offer general support. Close communication with the administrator will help to avoid confusion and ensure a smooth sale.

Why does property management have to agree to the sale of an apartment?

The property management often has to agree to the sale of an apartment, as condominiums are part of a community of owners (WEG). This community has common interests, regulations and responsibilities. Consent serves to ensure that the sales process complies with the community rules and interests.

Check any sales restrictions

Some condominium associations may have clauses that restrict sales to certain people or under certain conditions. Make sure you are aware of any such restrictions before you start the sales process.

Documents and records

Prepare all the necessary documents and paperwork required for the sale of your home and the transfer of ownership. This could include:

1. Declaration of division
2. Distribution plan
3. Minutes of the owners’ meetings
4. Business plans
5. Etc.

Inform potential buyers

Make sure that potential buyers are informed of the fact that the apartment is part of a community of owners. Also provide them with all relevant information about the:

1. Community rules
2. Fees
3. Maintenance fund
4. Etc.

Negotiate the housing benefit settlement

When you sell your condominium, one of the important financial aspects is the regulation of housing benefit costs. The housing allowance is the amount that owners in a community of owners regularly pay to cover common expenses such as maintenance, insurance and administration costs.

When selling a condominium, you must discuss with the potential buyer how the settlement of housing benefit costs will be handled.

The following steps are relevant here:

Housing benefit reserve and settlement period

Make sure that the buyer understands that there is usually a housing benefit deposit, which in most cases is settled between the buyer and seller on transfer of ownership. Clarify the settlement period to ensure that both parties know which housing benefit payments are included in the negotiations.

Pro rata payment

As a rule, the buyer assumes the pro rata housing benefit costs from the date of transfer of ownership. This means that the buyer is responsible for the housing benefit payments due from this date.

Calculation of costs

The costs for the housing allowance are normally based on the monthly amount that you last paid as the seller. This amount is calculated pro rata for the remaining days in the settlement period.

Transfer of ownership

Make sure that the transfer of ownership is properly documented. This is usually done by a notary. Make sure that all relevant documents are signed and transferred.

• Condominium handed over

Inform the administrator about the change of ownership

After the sale, you must inform the administrator of the change of ownership so that all relevant documents and information can be updated.

Congratulations, your condominium has been successfuly sold!

Communication and collaboration

Open communication with the community of owners, the property manager and the buyer is crucial to ensure a smooth sales process. Cooperation and compliance with the rules help to ensure that the sale is successful.

Selling from a community of owners: how it works

Make sure that the sale of your condominium in a community of owners goes smoothly: Inform the community at an early stage, check the rules, contact the administrator and observe any sales restrictions.

Prepare all documents, inform potential buyers about the community membership, negotiate the housing benefit statement and secure the transfer of ownership. Inform the property manager about the change of ownership and maintain open communication and cooperation. These steps will ensure a successful sale that complies with the rules and runs smoothly.

Contact us: Questions about the sale

Do you have any questions about the sale? Write to me or simply give me a call:

• Contact us

Homeowners’ association at a glance

A condominium owners’ association (WEG) is a community of owners who own one or more apartments in a common building. So when you buy an apartment unit in a property, you automatically become a co-owner and a part of the community of owners. Explore Real Estate Germany.

The community of owners can be described like this:

Community of all owners of a property.

The community of owners is responsible for the management, maintenance and modernization of the common property. Decisions are made at the owners’ meeting, where each owner has one vote. An administrator is appointed to represent the interests of the owners and is responsible for the management and maintenance of the common property. The condominium owners’ association is a legal entity and can, for example, conclude contracts or appear in court.

Homeowners’ association at a glance:

• A WEG is the community of all owners of a property
• Each owner can represent his right to vote at the meeting of owners
• Each owner has a certain co-ownership share in the common property
• Each member of a WEG must bear costs for the common property
• Each owner is responsible for his or her own special property
• Each owner has to fulfill certain rights and obligations
• Each COA must have certain documents that set out rules and boundaries

Ownership shares and common property

The distribution of property in a condominium owners’ association is defined in the declaration of division. There, it is described in detail which parts of the building are assigned to separate property and which are considered common property.

Each owner has a co-ownership share in the common property of the building, such as the land, the facade, the staircase or the roof. The size of the share depends on the size of the respective apartment in relation to the total living space of the building.

For this purpose, each owner occupies special ownership of his or her apartment. This means that he has sole ownership of his apartment and can use and manage it freely.

This is the right of each owner:

• Co-owner of the common property
• Special ownership of own apartment

Rights and duties of the WEG

Each owner of a condominium association has certain rights and obligations arising from the Condominium Act and the declaration of division. In this section, we will look at these aspects in more detail and explain what rights and obligations an owner has.

The rights and obligations in a WEG include:

• Management
• Maintenance
• Owners’ meeting
• Resolutions

Management and maintenance

The owners are jointly responsible for the management and maintenance of the common property. This includes, for example, the maintenance of the garden, the cleaning of the staircase or the repair of the roof. The costs are apportioned to the owners in proportion to their ownership shares.

This duty has every owner:

• Responsible for common property
• Responsible for internal or external management

Participation in the owners’ meeting

The owners’ meeting is the central body of the condominium owners’ association and is used to make important decisions for the common property. It is therefore important that the owners attend the meeting and express their opinions. However, there is no obligation to attend.

Minutes of the owners’ meeting must be kept and signed by an owner and the administrator. The minutes must contain all resolutions passed and voting results.

Are you interested in the topic of owners’ meetings? Learn more here!

• Owners’ meeting

Voting procedure and resolution

In the owners’ meeting, decisions are made by voting. There are different voting procedures, e.g. simple majority, qualified majority or unanimous decision. A resolution is only valid if it has been properly passed and does not violate any laws or the declaration of division.

House Rules, Declaration of Partition & Co.

In order to regulate the ownership shares in a house with several parties and to guarantee a harmonious living together, a written order is needed. Therefore, every multi-party house has a declaration of division, community rules and house rules.

The house rules are the most important document and, from the legal point of view, the first place to regulate the operation in a multi-apartment building. They are drawn up by the homeowners’ association or the appointed manager and are an obligation for them.

The community rules regulate all regulations and laws for living together in the residential complex and are legally behind the house rules. Since the community rules can be determined by the owners themselves, changes may be decided unanimously at the owners’ meeting.

The declaration of division of a property exists whenever the overall property is split into individual parts, such as individual residential units. It therefore describes the formal division of the property and thereby defines the rights and obligations of the owners.

Order of the WEG at a glance:

• House rules: regulates operation in multi-apartment building
• Community rules: regulates all the rules and laws for living together in the residential complex.
• Declaration of division: thus describes the formal division of the property

Owners’ association at a glance

They hold regular owners’ meetings to discuss common issues that affect all residents of the house, such as exterior design of the house and property, garden maintenance, fees and service charges, renovation or refurbishment of common property such as basements or the roof, a common property management or a caretaker service. However, an external property management company can also be requested for these tasks, for a fee.

• Syndicate
• Regular owners’ meetings to clarify common issues
• Can also be requested external property management

Climate change, modernisation and urban development

As we reported a few weeks ago, cities are in a state of flux. No matter if it is about the densification of living space, for example by putting new floors on top of supermarkets or even completely new city ordinances, like in Taipei. Green cities are the future, more housing on less land. To make it happen, there are more and more ideas, like this week presented in Focus Online, Environment Minister Svenja Schulze wants stricter regulations: One million households threatened with expensive conversion of chimneys and flues. Also in the manager magazine the will for change shows up, e.g. by skyscrapers from wood. The view of the green change does not only have positive aspects. If you look at your own wallet, you will agree with the Handelsblatt that this week debates the increase in costs due to the CO2 tax.

Also interesting: Berlin – Greening of roofs becomes mandatory.

Skyscraper made of wood – new construction from sustainable resources

Change is everywhere. Even animals and plants are changing their habitats. As you can read in the article Europe’s extraordinary gardens, tropical fruits now grow in Europe, where as grapefruits in London and magnolias with a view of the Alps.

CO2 tax – Do we really need it?

Professor Dr. Harald Lesch takes a deeper look at the debate about the CO2 tax. The video says: “Fridays for Future is calling for a CO2 tax of 180 euros per tonne of CO2. No problem, you might think, what normal person produces a ton of CO2? In fact, we do, directly and indirectly, almost monthly: 10 tons of CO2 per year per German citizen.” – Learn more interesting facts in the video:

Real Estate Shares: Price Week

The top 3 winners at the moment at a glance. Here you can find all real estate shares.

Immofinanz Real Estate Investments AG

Eyemaxx Real Estate

Course Provider:

CR Capital Real Estate

Course Provider:

Real Estate News:

Manager Magazin about Singapore’s most expensive penthouse

There are also new headlines this week from Manager Magazin such as “Researchers present concepts: “Skyscrapers made of wood are a natural answer to climate change”” as well as “Apartment for $54 million: Billionaire vacuum cleaner Dyson buys Singapore’s most expensive penthouse”. More headlines:

• Apartment for 54 million dollars: Billionaire vacuum cleaner Dyson buys Singapore’s most expensive penthouse

Focus Online answers questions on property tax reform

The Focus Online blog reports on “Environment minister wants stricter guidelines: One million households threatened with expensive conversion of chimneys and flues” and “Courts have ruled: Service charges – these are the ten most important rulings for tenants and landlords”. More news and current laws:

• The most important answers to the reform: Scholz plan for new property tax: Who now has to pay more rent
• Environment minister wants stricter regulations: One million households threatened with expensive conversion of chimneys and flues
• Courts have ruled: Service charges – these are the ten most important rulings for tenants and landlords

Did you already know? These are the most frequent searches in Germany for property tax:

• When is the property tax paid?
• Who pays the property tax?
• What is the property tax A and B?
• What is the difference between property tax and land transfer tax?

IM Immobilienmanager about Generali Real Estate

This week at IM Immobilienmanager among others articles about “Generali Real Estate appoints Lukas Jeckel as Head of Region Central Northern Europe” and “Terragon: Annette Heilig appointed to the Management Board” . You can find more news here:

• Austrian real estate fund buys Babelsberg Center
• Terragon: Annette Heilig appointed to the Management Board
• Generali Real Estate appoints Lukas Jeckel as Head of Region Central Northern Europe

Frankfurter Allgemeine on expropriation and rent freeze

This week’s Frankfurter Allgemeine has some exciting articles, such as “Proper raking and mowing: How to do gardening without back pain” and “Expropriation and rent freezes: The GDR is no role model! More news from the past days:

• Rake and mow properly: How to do gardening without back pain
• Workplace couple dynamics: sharing a desk with Schatzi
• Expropriation and rent freeze: The GDR is no role model!

Handelsblatt on the increase in costs due to the CO2 tax

In contrast, Handelsblatt reports this week on “Rising aspirations fuel housing shortage” and “Here’s how CO2 tax would make housing more expensive” . More headlines of the week:

• This is how the CO2 tax would make housing more expensive
• ECB experts warn of overheating in the European real estate market
• Rising aspirations fuel housing shortage

Star over Youtube Star (6) buying his first house

The blog of Stern deals with “Warning signs: How safe is your job? 12 signs of your imminent dismissal” and “Real estate: family plans with 84,000 euros Baukindergeld – and is now to go empty” . More news of the week:

• Real estates: Family plans with 84,000 euro building child money – and is to go out now empty-handedly
• Warning signs: How safe is your job? 12 signs you’re about to quit
• In South Korea: Six-year-old Youtube star buys house for more than seven million euros

Haufe: Rents rise significantly slower than purchase prices

New from Haufe this week includes “Frühlingsfrisch” and “Rechtzeitige Zahlung der Gerichtskosten bei Anfechtungsklage” . More real estate news for tenants, buyers and sellers:

• Housing market: Rents are rising much more slowly than purchase prices
• Timely payment of court costs in an action for annulment

T-Online asks: How big does the budget have to be to buy a house?

This week, T-Online has topics such as “Recovering construction defects – claiming warranty when building a house” and “Construction guide – How big does the budget need to be to buy a house?”. New topics of the week:

• Apportionable service charges – What you as a tenant have to pay and what not
• Building Guide – How big a budget do I need to buy a house?
• Complain about construction defects – warranty claim when building a house

Süddeutsche Zeitung on living as a single

This week’s Süddeutsche Zeitung blog is about “How the government wants to fight money laundering” and “Room, kitchen, murder”. Updates and news from the newspaper:

• How the government wants to combat money laundering
• Where the singles live
• Room, kitchen, murder

Federal Gazette knows: Germany must build more

This week at Bundesanzeiger among others “Discussion about rent regulation misses actual market development” but also “Germany needs to build more”. New articles, headlines and trends:

• Germany must build more
• Discussion about rent regulation misses the actual market development
• Housing urban development plan: Focus on new construction instead of regulation

Berlin.de about the wood market project of the capital city

New articles and posts from Berlin.de this week include “Bund der Steuerzahler criticizes apartment purchases” and “Saleh jumps on Müller: Correct urban development plan” . More headlines of the week:

• Taxpayers’ association criticizes apartment purchases
• New start for Berlin timber market project
• Saleh jumps on Mueller: Correct urban development plan

Immobilien Zeitung sees Stuttgart logistics market on the upswing

This week Immobilien Zeitung has interesting topics such as “Stuttgart logistics market on the up” and “Poor but sexy was yesterday” in the magazine. The posts and more tips can be found here:

• Stuttgart logistics market on the upswing
• Logistics revenue is “exceptionally strong
• Poor but sexy was yesterday

Spiegel on the fight against money laundering

At Spiegel this week it’s about “Rich: Zara founder prefers real estate as an investment” and “Fight against money laundering: government takes real estate agents more to task” . More news from this week:

• Fight against money laundering: government takes real estate agents more seriously
• Central bank: ECB experts warn of real estate bubble in Europe
• Rich: Zara founder prefers real estate as an investment

High demand, good selling price: what to wait for?

Owners who want to sell their house or apartment in Trier, have good chances of a timely realization of their project due to the high demand. There are various reasons for the sale of houses and apartments. For example, the sale can be put on the agenda if a property is inherited and not needed for personal use. Also a divorce or a professional move and financial bottlenecks can be considered as a reason for the sale of real estate.

Property owners who want to sell professionally and get the sale price they want should rely on local brokerage. Investing in a real estate agency like Lukinski ensures an effective and stress-free sale. Those who want to sell privately and offer their property without the help of a real estate agency quickly fall into cost traps or realize in the course of the transaction that the matter is more complex than suspected.

Avoiding mistakes? Read more here: The 8 biggest mistakes when selling a house.

No time? Read more here on the topic: Selling a house quickly.

Broker & Contact Trier

Get in touch with our real estate team:

• Real estate agent Trier – Contact person

Selling price in Trier: Realistic valuation

How high can I set the selling price for a condominium in Trier? Depending on the square metre of the apartment, properties in Trier currently fetch between €40,000 and €765,000. The price per square metre currently fluctuates between €3,400 for apartments up to around 35sqm. For larger properties of 120sqm or more in Trier, you can currently achieve an average price of €3,650 per square metre. The average price for an 80 sqm apartment in Trier, for example, is 3,540 euros. Depending on the district, the price varies, of course. You want to know exactly what your house or apartment in Tier is worth? Simply contact us for a free valuation from our real estate agent for Trier.

• Apartment sales on average: €40,000 to €765,000
• Price per square metre (up to 35 sqm): 3,400 euros
• Price per square metre (from 120 sqm): 3,650 euros
• Price per square metre (average): 3,540 euros
• Increase (small town average) compared to previous year: 13.7

Currently popular with buyers (in addition to the city centre) are the districts of Tarforst, Heiligkreu, Feyen, Euren and Olewig. Likewise, Trier South is generally very popular for buyers – correspondingly high profits can now be achieved for sellers.

Private sale by the owner – profitable or not?

Once the thought has been made and the property in Trier is to be sold, you as the owner are faced with one of the first and most important questions. Should you take care of the sale yourself or is it better to hire a real estate agent and have your condominium, house or land sold by an expert? When selling privately, you should carefully consider in advance whether you are up to the numerous tasks and the accompanying stress.

You need a lot of time to plan the property sale and make the necessary preparations. As the seller, you need to gather all the necessary documents, have the energy certificate drawn up, organise the development plan and the cadastral map for prospective buyers to view and, if you want to do it properly, commission a valuation.

Cost traps and time wasters

These tasks already result in some costs, of which the energy certificate and the market value assessment quickly become a cost trap at well over 1,000 euros. But these expenses are not yet the proverbial end of the line. Every advertisement in a real estate portal puts new costs on your agenda. If you want to sell successfuly and promptly, you should advertise your property in all known portals and respond to enquiries from interested parties without waiting.

You will need a lot of time when it comes to planning and organising the viewing appointments. If you have designed the exposé in a high-quality and appealing way and set a convincing sales price, potential buyers will not be long in coming.

Selling a house can quickly become your main business, or at the very least, cause your free time, time with family, and hobbies to be significantly reduced. For most owners, selling a house is the biggest financial sale in their lives. There are a lot of emotions and memories associated with the house or apartment, which clouds the view for a neutral consideration and leads to uncertainty in negotiations. There are definite advantages to trusting the services of a local real estate agency and hiring a professional to handle the sale.

What influence the market value has on the offer price

If you want to learn what real estate buyers primarily look for and what influence the sales price has on interest, we have a simple tip. Put yourself in the position of a buyer and look at your exposé, the description and illustration of the property, as well as the offer price not from your perspective as an owner. This method is optimal to get a first impression of the effect and to find out whether you as a buyer see a relevance between the offer price and the property.

Market value is not the same as property value

At Lukinski, we know that many times owners without sales experience assume that fair market value is pure property value. This is a mistake that leads to delayed sales due to overpricing or offering below the current fair market value, resulting in financial loss. Fair market value is the basis of the sale price, calculated by taking into account a whole range of factors. For example, the size and furnishings of the house or apartment, the year of construction and the state of modernisation, but also aspects relevant to the surrounding area are taken into account.

Modernisation, infrastructure and local comparables

The infrastructure and the location are also taken into account. From the sum of all factors, a value is determined that provides information about the likely achievable sales price. Experienced brokers know the demand and the supply, analyse the market and carry out the valuation of your condominium, your plot of land or your home with the utmost care. With tact and know-how, local comparable properties are consulted and compared with the market value of your property. Afterwards, you can fix an offer price together with the expert and be sure that the offer reflects the real market value and therefore does not become a slow seller or a losing deal.

Offer to owner-occupiers or capital investors?

This decision depends on both the property and the location of your property in Trier. A home of one’s own or a two-family house in the countryside is more suitable for owner-occupiers, while a condominium or apartment building in the city is definitely interesting for investors. Once you have made your decision, your orientation will be taken into account in the preparation of the exposé. If you explicitly focus on capital investors, some special features have to be considered in the address and in the property description. Properties that are sold for owner-occupancy can be sold best with an emotional description.

If, on the other hand, you want to appeal to an investor, the yield-based factors play an overriding role. Both rented and unrented properties are suitable as investments.

In practice, it has been shown that secure rental income from existing tenants plays a much less important role for investors than assumed. Concrete, fully verifiable details of refurbishments, documentation of the standard and fittings, details of the infrastructure and ownership are more conducive to decision-making. In the case of a house, it is sufficient to prove your ownership rights by means of the extract from the land register, thus providing the potential buyer with proof that it is not a community of heirs and owners. This aspect should also not be underestimated in the case of sales for owner-occupation. The fact is, however, that when selling real estate to owner-occupiers, you can certainly provide emotional descriptions, while convincing an investor with concrete facts.

Read more about co-ownership shares:

• Partition agreement
• Declaration of division
• Sharing a fraction
• Community of heirs

Selling a condominium in Trier: a very complex challenge

Compared to the sale of a house in Trier, the sale of a condominium presents special hurdles. If the apartment is located in a complex with several owners, a private sale of an apartment can drag on due to various difficulties and cost you nerves. Before you start the sale, discussions with the owners’ association are necessary. The minutes of the owners’ meeting are also required when selling this apartment and are among the documents that are of enormous importance.

Most apartment owners react with astonishment when it comes to the request to introduce the potential buyer and to present detailed proofs of creditworthiness during the conversation with the management. As an owner, you do not decide alone on a buyer, but must integrate the management or the community.

Can a rejection be made? Credit check of the buyer

A rejection may occur if the creditworthiness of the potential buyer does not match the financial expenses for maintenance or modernization of the facility. In this case, a mere confirmation of the financing of the purchase of the apartment is not sufficient. Due to the complexity of selling condominiums, it is advisable to hire a real estate agency with expertise and leave the negotiations, document procurement and the sale itself in experienced hands. Many owners have had the experience when selling the apartment from private that a buyer may be considered based on his financial background, but is still rejected after the presentation to the property management.

If the new owner’s intended use does not fit in with the community’s ideas, the applicant is usually not accepted. This is often the case, for example, if the new owner wants to purchase the purchased apartment as an investment property and then rent it out. To meet these and other challenges with professionalism, the sale of your condo should take you directly to a local real estate agency like Lukinski. This way, you will avoid unnecessary delays and have peace of mind that the sale will be handled smoothly and to your satisfaction.

Trier: Facts & figures on the population

More about the city, events and recommendations? You can find more information on the official site of the city of Trier. More statistics can be found here: Real Estate Statistics.

Population and development

Local districts with area and number of inhabitants (primary and secondary residence). More facts and figures about Trier can be found here (source): Wikipedia / Trier.

Key figures of the city: Inhabitants and area

• Federal state: Rhineland-Palatinate
• Altitude: 136 m above sea level
• Surface area: 117.13 km2
• Population: 110,636 (Dec. 31, 2018)
• Population density: 945 inhabitants per km2
• Postal codes: 54290-54296; Area code: 0651
• License plate number: TR
• City division: 19 municipal districts

Source: Wikipedia / Trier.

Municipality: Address & Directions

Questions about renovation, new construction and Co. You can also get tips from the city administration. Here is the address of the city administration: Am Augustinerhof in 54290 Trier.

Your success through local real estate agents – Lukinski

Whether it’s a house, an apartment or a plot of land, selling real estate involves numerous classic real estate agent tasks and a high level of responsibility.

Errors in planning or market value assessment, exposés that are not informative and many other aspects influence the attractiveness of your property in the eyes of potential buyers. If you invest in professional services and hire Lukinski as your local real estate agency, you can sit back and let an expert handle the sale of the property. Who buys the property is up to you. We do the preliminary work and are a serious and experienced partner for owners from the first meeting to the handover of the property.

Are you looking for an adequate solution? Call us and tell us about your house or condominium! We realize the sale on your behalf and support you so that the sale of your property remains in positive memory. You avoid cost traps, exclude mistakes in the process and achieve the sales price that you agreed with us in advance.

Your advantages: Real estate agent Trier

✓ national customers and regular customers (direct purchase possible!)
✓ Decades of experience and a well-coordinated team
✓ 100% free valuation and analysis of your property
✓ independent of banks and online portals

Broker & Contact Trier

Get in touch with our real estate team:

• Real estate agent Trier – Contact person