Book land charge – The book land charge is a common means of underpinning the creditworthiness of a borrower and is used to secure a loan. Nowadays, the land charge has almost completely overtaken the formerly predominant mortgage and accordingly belongs to the liens on real property. A property can be encumbered in such a […]
Laundry room – The laundry room is a room equipped for washing laundry, usually located in the basement. Nowadays, the term is used for rooms that are intended for the installation of washing machines and/or dryers. In apartment buildings, there are water and electricity connections for the washing machines, which record the consumption via the […]
Terrace – By definition, a terrace is a covered or uncovered larger platform on a house for outdoor living. It is located at the ground floor level of a building or on the roof. The living quality of a property can be enhanced by the terrace, which also increases the property value. As an outdoor […]
Special-purpose association – The special-purpose association is the merger of several municipalities or associations for the joint performance of certain tasks. Due to the restriction to certain administrative purposes, such an association is referred to as a “special-purpose association”. Who can become a member of a special-purpose association and which tasks the association performs is […]
Warranted Property (Real Estate) – A warranted property is a property feature that the seller warrants to the buyer. Tips: property selling. If, when buying the property, it turns out that this property does not exist, the seller is liable for damages. A property is deemed to be warranted if the seller expressly indicates to […]
Underground garage – The underground garage is a parking space for vehicles, which is located below ground level. Often there are underground garages in commercial properties or larger residential complexes, for special protection against the weather and theft. In older underground garages, however, you should be aware of the spacing of the vehicle parking spaces, […]
Capital investment: Investing money in real estate and shares – Here you will find everything you need to know to make money with real estate. Definition, comparison and investment tips, we have compiled the most important factors for you. Tip! At the end of the article on capital investments in comparison you will find further […]
You want to start your own business as a real estate agent or with another business idea? More about agents and commissions: find a realtor. We support you with tips on your business plan and concept. Whether self-employed full-time or part-time self-employed: If you want to set up your own company, you have to think […]
Right of first refusal – The right of first refusal is a right that allows a person to enter into a contract of sale on the terms that an owner had agreed with a purchaser. See our property glossary. The person with the right of first refusal takes the place of the purchaser and therefore […]
Bestellerprinzip – In order to protect prospective tenants from the additional burden of paying the broker’s commission, the Bestellerprinzip applies. More on back to overview. This means that whoever commissions an estate agent with the procurement of a prospective tenant for a rented flat must pay the agent’s commission. If the broker violates the principle […]
Building energy passport – The building energy passport provides data on the energy efficiency and the energy costs of a building and serves to evaluate its energy efficiency. The basic principles of this passport are regulated in the Energy Saving Ordinance (Energieeinsparungsverordnung) and oblige the owner to provide the prospective tenant with a building energy […]
Children’s Neighbourhood Law (Definition, Meaning) – Children make noise, which is a natural and normal expression of their movement, communication, and play impulses. Accordingly, children also enjoy certain freedoms under neighbourhood law. When neighbours complain about the noise, in most cases the decision will be in favour of the children, as their behaviour cannot be […]
