1. find out about investment options that suit you (goals, risk)

Tip 1 is to thoroughly research the different investment options and choose the ones that best fit your goals and risk tolerance.

This means that you should inform yourself about the various options in which you can invest your inherited money. These include, for example, stocks, bonds, funds, ETFs, real estate as an investment or alternative forms of investment. You should consider which investment options best fit your financial goals and risk tolerance. A financial advisor or expert can help you choose the investment options that are right for you.

Here is a bullet point list with a short summary of the content of tip 1:

• Find out about the different investment options
• Choose the ones that best fit your goals and risk tolerance
• Consider your financial goals and your risk tolerance
• Seek advice from a financial advisor or expert if you are unsure

2. talk to a financial advisor or an expert

Tip 2 is to talk to a financial advisor or an expert who can help you decide.

This means that it can be helpful to seek advice from a financial advisor or an expert if you are unsure how to invest your inherited money wisely. A financial advisor is knowledgeable about different investment options and can help you develop an investment strategy that fits your goals and risk tolerance. An expert in a particular investment area, such as real estate or art, can also give you valuable advice.

Here is a bullet point list with a short summary of the content of tip 2:

• Talk to a financial advisor or expert
• Get advice if you are unsure how to invest your inherited money wisely
• A financial advisor is knowledgeable about the different investment options and can help you develop an investment strategy
• An expert in a particular investment area can give you valuable tips

3. realistic goals and financial plan

Tip 3 is to set realistic goals and create a financial plan to ensure you are investing your money wisely.

This means that it is important to set clear goals and create a financial plan to ensure that you invest your inherited money wisely. For example, your goals may be to save a certain amount of money to buy a property in the future (Tip 8), or to create financial security for your retirement. A financial plan helps you keep track of your goals, expenses and income.

Here is a bullet point list with a short summary of the content of tip 3:

• Set realistic goals
• Create a financial plan
• Helps you track your goals and keep track of your expenses and income

4. diversify your portfolio

Tip 4 is to diversify your portfolio to minimize risk.

This means it’s important to diversify your portfolio to minimize risk. Diversification means that you invest your money in different investment options and industries, rather than putting everything into a single option. By doing this, you can reduce the risk of suffering big losses if one investment performs poorly. It is important to have a balanced portfolio that consists of different investment options.

Here is a bullet point list with a short summary of the content of tip 4:

• Diversify your portfolio
• Invest in different investment options and industries
• Reduce the risk of losses
• Hold a balanced portfolio of different investment options

5. shares with long-term appreciation / less risk

Tip 5 is: Consider investing in stocks to benefit from long-term appreciation.

This means that it may be an option to invest in shares in order to benefit from long-term increases in value. Stocks are shares in companies that are traded on the stock exchange. They can give you an attractive return if the company is successful and increases its value. However, it is also important to note that stocks are speculative and there is a risk of loss. You should therefore carefully consider whether stocks fit your goals and risk tolerance.

Here is a bullet point list with a short summary of the content of tip 5:

• Consider investing in stocks
• Profit from long-term value increases
• Shares are interests in companies that are traded on the stock exchange
• Take into account that shares are speculative and there is a risk of losses

6. think about ETFs (funds and bonds)

Tip 6 is: Also consider investment options such as bonds, funds, ETFs and other securities.

This means it’s important to consider other investment options such as bonds, mutual funds, ETFs and other securities if you want to invest your inherited money wisely. Bonds are debt instruments issued by companies or governments to raise money.

They can be a good way to earn a fixed return. Funds are investment vehicles that pool the money of many investors and invest in a variety of securities. ETFs are exchange-traded funds that track a specific index. There are many different investment options you can consider, and you should think carefully about which ones best fit your goals and risk tolerance.

Here is a bullet point list with a short summary of the content of tip 6:

• Consider investment options such as bonds, funds, ETFs and other securities
• Bonds are debt instruments that are issued by companies or governments
• Funds pool the money of many investors and invest in a variety of securities
• ETFs are exchange-traded funds that track a specific index
• Choose the investment options that best fit your goals and risk tolerance

7. robo advisor instead of asset manager

Tip 7: Consider using a robo advisor as an automated financial tool.

A Robo Advisor is a digital tool that serves as an automated wealth management tool. It uses algorithmic models to develop investment strategies and invest your money automatically. All you have to do is specify your investment goals and risk tolerance, and the robo advisor will create a customized portfolio for you.

You can use the Robo Advisor online at any time and thus have access to your portfolio around the clock. Robo advisors are usually cheaper than traditional asset managers and are therefore particularly suitable for investors who opt for a long-term investment strategy. However, you should keep in mind that robo advisors also have risks and you should therefore carefully consider whether they fit your goals and risk tolerance.

Here is a bullet point list with a short summary of the content of tip 7:

• Consider using a robo advisor as an automated financial tool
• Use algorithmic models to develop investment strategies and invest your money automatically
• Specify your investment goals and risk tolerance and get a customized portfolio
• Use the Robo Advisor online around the clock
• Robo advisors are usually cheaper than traditional asset managers
• Consider that robo advisors also have risks

More about automated trading:

• Robo Advisor: Provider
• Robo Advisor: 20 tips

8. invest in real estate as a capital investment

Tip 8 is: Consider investing in real estate to benefit from appreciation and rental income.

This means that investing in real estate to benefit from appreciation and rental income can be an option. Real estate can be a good way to achieve a stable return.

For example, you can invest in a property and rent it out to tenants to generate regular income. However, it is also important to note that real estate investments require a lot of capital and there is a risk of losses. You should therefore carefully consider whether real estate investments fit your goals and risk tolerance.

Depending on the inherited assets, you could also think about a family foundation with tax benefits.

Here is a bullet point list with a short summary of the content of tip 8:

• Consider investing in real estate
• Profit from appreciation and rental income
• Real estate investments can provide a stable return
• Take into account that real estate investments require a lot of capital and there is a risk of losses
• Choose the investment options that best fit your goals and risk tolerance

More on the topic:

• Real estate as an investment
• Buy first property

9. sustainable, green investments with a future – idea

Tip 9 is to consider investing your inherited money in sustainable investments to have a positive impact and benefit financially.

This means that investing your inherited money in sustainable investment vehicles can be an option to have a positive impact and benefit financially. Sustainable investment vehicles are investments that are guided by social, environmental and governance (ESG) criteria and help create a more sustainable future. For example, you can invest in companies that are committed to climate protection or in funds that invest in sustainable projects.

It is important to note that sustainable investments are not without risk and you should consider whether they fit your goals and risk tolerance. You should also make sure that the sustainable investments you invest in are actually sustainable and not just so-called “green washing” products that only pretend to be sustainable.

Here is a bullet point list with a short summary of the content of tip 9:

• Consider investing your inherited money in sustainable investments
• Invest in a more sustainable future and benefit financially
• Sustainable forms of investment are based on ESG criteria (social, environmental and governance criteria)
• Consider that sustainable forms of investment have risks
• Make sure the sustainable investment vehicles you invest in are actually sustainable

Read more about here:

• Green investments

Conclusion: Investing inheritance wisely

There are many ways in which you can invest your inherited money. It is important that you weigh up the different options and choose the most suitable form of investment for you. You should also consider your goals and how much risk you are willing to take. If you are unsure, you can also hire a financial advisor or a financial planner to help you decide.

Der Beitrag Inheritance investing and investing: 9 tips from investment experts erschien zuerst auf ℄ Real Estates.

Reaching the goal with the needs and investment analysis

Like private real estate, the price of commercial real estate has risen significantly in recent years. In view of the capital value development, it can be assumed that prices will continue to rise. We recommend a comprehensive needs and investment analysis in preparation for the purchase of commercial real estate:

• What type of commercial property is being considered. What is it needed for?
• What are the requirements for the property and what characteristics must it have?
• What is the available budget?

Site selection: Decisive for success

Which location is ideal for the company? What benefits can and should the new location bring to the firm? If you operate a law firm and clients call on you, ample parking might be required in a downtown location. In suburban areas, good access to public transportation may be required. If you sell products to your customers, having a storefront in a pedestrian area can be critical to success. If you only need a warehouse, the commercial property may well be purchased in convenient city locations.

For manufacturing companies that receive regular deliveries and deliveries, good transport connections are crucial. Driving bans may be issued for journeys through residential areas. Also consider any weight and height restrictions on vehicles if, for example, bridges have to be passed on the approach. There must be sufficient space on and around the site for turning. Parking spaces for employees must also be planned for.

Buying or renting: Which is more worth it? – Video

In this video from financial flow (Youtube), the interesting question is asked: Buy or Rent? A key question for those buying their first commercial property. By the way, you can also find more tips on buying here:

• Buy a house
• Buy a condominium

Tip. Buy and rent in one:

• Buy apartment house

Deciding on the right object

We support you in narrowing down the offers. Our experience across all industries ensures you the best possible location for your company, practice or law firm. We not only identify the requirements of the property, but also evaluate this from a professional perspective. As an experienced broker, we realistically assess the potential of the properties on offer.

Check legal aspects

Look very carefully at the property’s use permissions. This can result in considerable restrictions on use. For example, it is forbidden to set up a production business in a business premises. The entitlement to use the property as a commercial property results from the planning permission, but this can be changed under certain circumstances. Please contact us if you have any questions regarding the construction method, building permit and the right of use of commercial properties.

The ideal commercial property fits the requirements of your company in terms of its floor space layout, statics, lighting and room height. Is the available office space, storage space and sales space sufficient in the long term? Can production be accommodated in the premises?

In addition, there are the calculations for room height, statics and floor load-bearing capacity if heavier machines are used in production. The supply of water, electricity, including high-voltage connections, must be secured, as must heating systems, sanitary facilities and parking facilities for customers and employees. If important conversions are necessary after the purchase, this not only costs money but also time and delays the start of the operational activity.

Assessing the potential

We assess the potential of your future commercial property. Avoid bad investments, expensive conversions and lengthy legal disputes. Good real estate agents prepare a fair market value appraisal for the commercial property and advise you with industry knowledge on the requirements and legal specifications for your company. Together we will consider exactly what criteria the new company building needs to meet, and then find the best deals on the market for you.

Outdoor advertising and customer stoppers

In principle, every entrepreneur has the right to advertise publicly in order to draw attention to himself. Customer stoppers, which are large poster holders that draw attention to special offers, are not only part of the business in pedestrian zones. However, an official permit is usually required for setting up these customer stoppers. If the public street space is used for business purposes, a special use permit must be applied for. The public order office is responsible for issuing the permit.

Public traffic space includes not only roads, but also other paths and places used by the general public, such as pedestrians and cyclists. As soon as this is to be used by the company, an official permit is required. We will be happy to check for you to what extent the chosen object meets your requirements. If you wish, we will be happy to apply for the necessary permits and licences for you as a precaution.

Who needs a restaurant license?

Is your own restaurant or café a long-cherished dream? Before pizza, kebab, steak or café latte are served to the customer, the targeted commercial property has to face some questions. In order to operate a restaurant, a corresponding permit must be obtained from the responsible authority – in official German, this is the restaurant license. This is the first step in proving personal and professional suitability. At the same time, it must also be proven that the commercial premises are suitable for a restaurant. The latter is proven with the floor plan, which shows that the commercial building has sufficient space, parking, kitchen and sanitary facilities.

Use of the pavement by your company

In the catering business especially in demand, are the outdoor seats of the commercial property. In summer, pizza, coffee and snacks are preferably served outdoors. Walk-in customers are to be attracted by the inviting outdoor decoration. A special use permit is required for advertising, assortment and outdoor seating on the sidewalk. We will review and assess which commercial properties are appropriate for your project.

When granting permission, the authority generally weighs up the width of the footpath and the existing open spaces. A minimum width must remain for pedestrians. The requirements vary depending on the municipality. We check for you whether the public order office approves the planned use.

In any case, a special use for the sidewalk must be applied for. Advertising signs, tables and chairs do not count as so-called public use. Therefore – even with sufficient width – a special use must always be applied for.

KfW promotional programmes for companies

As a state development bank, KfW Bank grants loans to the liberal professions, SMEs and start-ups. Low interest rates, grace years and long terms are tailored to the needs of companies. In addition to the KfW promotional loan, companies can also obtain the ERP Start-up Loan for low-interest financing.

A start-up grant is paid by the employment office. Other funding options include KfW Startgeld and ERP capital for start-ups and companies that have been in existence for less than three years.

Sell commercial property

You want to buy one property and sell another and are looking for a partner to carry out the sale for you? Commercial property sales involve large sums of money and the greatest expertise in vetting the potential buyer. What type of business is the property suitable for? Is it a property in a commercial area or are you offering a property in mixed use areas? What land value can be achieved and at what price per square metre are similar commercial properties in your location selling? These are all questions that can only be answered by a detailed analysis in commercial property sales.

• Sell commercial property

Der Beitrag Buying commercial property: Guide to the procedure erschien zuerst auf ℄ Real Estates.

Sell apartment house: Step by step

First, let’s start with the 3 most common questions for those selling for the first time:

• How much is your apartment building worth?
• With or without a real estate agent?
• Sell publicly or discreetly?

Then you will learn all 18 steps of the sale!

How much is your apartment building worth?

Berlin, Hamburg, Munich, Cologne, Düsseldorf, Frankfurt and Germany-wide, there are many questions to answer. The best answer is to have an expert on your side for real estate valuation. If you want to sell your apartment building, then it comes down to one thing: An informed, market-oriented, realistic purchase price. The type of property determines the valuation method used to determine the market value. There are three standardized valuation methods for determining the market value of real estate: the comparative value method, the asset value method and the capitalized earnings value method. As a rule, at least two of these methods are used simultaneously.

• Comparative value method
• Income capitalization approach
• Real value method
• Residual procedure
• Determination of the mortgage lending value

The central questions of property owners: What is my property worth? How do you calculate the value of an apartment building? How does the tax office determine the value of a house? Who determines the market value of a property? How does the bank value a property? In order to give you a first impression of the complexity surrounding location, market value, comparative properties, building fabric & Co. we have written this guide on the subject of valuing multi-family houses for you.

• Rate apartment house

Sell with or without a broker?

You must not underestimate the preparation time. Be realistic and honest with yourself, for example, about the possible backlog of renovations. On top of all the work on the condominium or house, there are all the preparations for the sale.

Over 70% sell with professional support from the broker. From the appraisal to the creation of the exposé, to the customer approach and the sales phase, months pass without market knowledge. In all areas, the location is the most important factor, not only in the sale of multi-family houses. Mistakes in real estate sales are quickly made, especially mistakes in the sale of larger properties such as apartment buildings.

To the question with: “Sell with or without a broker?” comes the question:

Sell On Market or Off Market?

Off Market – An off market sale means your real estate sale will never be publicly visible. Your apartment building will only be recommended to an internal, solvent group of buyers with an ideal constellation. Off Market sales are especially claimed by prominent persons who want to keep the sale as well as address, photos and much more secret. Private persons also make use of the service, for example if the family should not find out about the upcoming sale or the neighborhood. Your advantage: No one will find out about the sale.

• Off Market Real Estate

On Market – With On Market sales, your multifamily property is presented by the broker through the usual marketing channels. You probably know the typical marketing channels:

• Advertisement display at the broker’s office
• Regional newspaper advertisements
• Supraregional real estate portals
• Classifieds portals like Ebay

So to the usual 18 step process, +1 question is added for you:

Sell On Market or Off Market?

To find good off market real estate agents, you should pay particular attention to references, properties that have been sold. You can often find these on the real estate agents’ websites. So it pays to take a closer look at the website of the real estate agent instead of just going to “Contact”.

18 steps to the sale: checklist MFH

Procedure, costs and tips – all this in one big free article for land, apartment, house, villa, apartment building. Learn how to sell a property, step by step: sell property.

All 18 steps in 3 phases:

1. Preparation: prepare house and sale
1. Financial planning and timing of sale
2. Hire real estate agent
3. Records and documents
4. Increase real estate value
5. Determine offer price
6. Create exposé
2. Sales phase: market the house and find buyers
1. Market real estate
2. Contact with prospective buyers
3. Filter and select prospective buyers
4. Credit check
5. Viewing dates
6. Sales talk & purchase price negotiation
3. Sales processing: purchase contract until handover
1. Draw up purchase contract with notary
2. Notary appointment
3. Land register entry and payment processing
4. Handover of the property
5. Notary fees & broker commission
6. Pay taxes

Here are a few more details.

Preparation to sale: procedure

You want to sell your property without a real estate agent? Then you should plan and carry out these sales steps in their order.

Decision to sell

When is the right time to sell? Ultimately, only you decide when to sell. There is no time of the year that is particularly “promising” or “particularly unsuccessful” for selling real estate. If you do not want to burden yourself with the vacation or Christmas season, that is only your decision. Because the buyers themselves usually decide completely independently of the time of year.

Lukinski’s tip: Properties with gardens actually sell better between spring and fall. However, the garden should then also be in a well-kept condition.

Market analysis and pricing strategy

How do I get the right selling price?

Here it becomes already very special! Because the assessment of the real estate market in general and also regionally needs a lot of knowledge and experience. This also applies to the valuation of a property. Especially when it comes to your own “four walls” that are for sale.

Determining the value of real estate is best done without an “emotional attachment” to the property. So if you want to sell your property without a real estate agent, you have to free yourself from all “ties” to the house. But even then, there are still plenty of “traps” that the private seller can fall into. For example, investments in high-quality fittings for bathrooms, floors, etc. do not per se increase the value of the property. Especially the choice of bathrooms, flooring, fixtures, etc. are often dependent on the owner’s taste. A new owner, for example, would not want to spend money on these things and will try to push down the purchase price in this way. A real estate agent such as Lukinski knows for sure which equipment of a property is considered “upscale”.

An important indicator for the “right” price of your property can be through a comparison with the price of other properties in comparable location, equipment and condition. To do this, you must then either talk to buyers and sellers of other properties, or browse the relevant brokerage portals in your region. However, even then you do not know for sure whether the prices of other properties are completely transferable to your situation. This is because micro factors always play a role in real estate valuation, which real estate experts will explain to you without prejudice.

Preparations: Renovate, design, modernize?

Frequently asked question when selling a house: Do you have to renovate beforehand? Our Lukinski tip at this point: If you want to achieve a maximum price for your property, then major construction defects should be eliminated. Of course, this should be verifiable by means of corresponding invoices. Damp spots on walls, mold, window frames with peeling paint, “blind” windows or worn parquet significantly reduce the purchase price. Even if there are only a few places where your property is not showing its best side, these deficiency items will rub off on the property as a whole.

The costs of a renovation or modernization must always be in reasonable proportion to the expected sales price. It is often very difficult to estimate this. Of course, a building expert can be consulted here as well. But this expert opinion costs money in any case. Lukinski and of course other brokers advise at this point with a lot of expertise and experience free of charge.

A special case are properties that are not (anymore) inhabited at the time of sale. If all furniture and personal belongings are then removed from the house or apartment, then possible damages reveal themselves very quickly. Here, too, it is a matter of: remove! Otherwise, a sale can be rescinded later due to concealment of defects in the worst case. If there are still furnishings in the object for sale, they should be in perfect condition. Everything else gives the impression of “bulky waste” and should be removed before the first viewing appointment.

Difficult for private sellers, but already common practice for real estate experts: so-called “home staging”. Empty apartments are specifically furnished for viewing appointments. This gives the buyer an impression of comfort and homeliness and thus increases – often unnoticed by the buyer – the intention to buy.

Marketing and presentation: exposé

How to create a sales exposé?

Certainly one of the more demanding tasks in the sales process: the creation of a meaningful sales document for the property. Very often, the exposé is one of the deciding factors for the price and also the speed with which you sell your property. Correct lighting conditions for the photos, a good perspective when photographing and meaningful texts are the decisive factors for the exposé. The pictures should convey a realistic view of the property, and the texts should not be overly worded. If statements in the exposé and reality are too far apart, this gives the buyer an impression of the seller’s untrustworthiness.

Even in the digital age, printed and bound exposés are often very useful. Especially if your property is of higher quality. If you want to produce the exposé on your home printer, the color cartridges should be well filled. Dull colors or streaky printing are absolutely unprofessional.

No matter how: the presentation of your property by means of photos and text requires a lot of time. In addition, you should have a deeper experience in choosing the right words for the accompanying text. Leave out all personal relations to the property and take – as best you can – a distanced perspective to your object.

Offer and negotiation

Who is the best buyer and how do I get the best price?

Those who sell their property without an agent have almost no possibility to filter the buyers in advance. Prospective buyers can make an excellent impression on the phone. But in the end, you never know who you will actually let into your house during the viewing. For the first exploratory conversation, make a list of questions to ask the prospective buyer. This includes, among other things, the question of where and how you currently live. Important also the question whether there is already a financing bank for the possible purchase. However, only trained ears can hear here whether the prospective buyer is telling the truth on the phone or not.

Those who sell their property privately must also coordinate and conduct all viewing appointments themselves. This part is usually the most time-consuming work for particularly interesting objects. It costs your time and often also nerves, because real prospective customers ask very detailed questions during the visit. And finally, you yourself have to cancel the interested parties who do not make the short list. This also costs time and nerves.

Purchase contract: How individual may the contract be?

The appointment of a notary for the final purchase contract is also the responsibility of the seller in the case of a private sale. Of course, the notary will also tell you which things belong in the contract and which do not. Many buyers have individual wishes regarding payment of the purchase price, handover date, liability, etc. The discussion of these contract items is also very time-consuming. On the other hand, there is certainly less risk of major errors for the private seller at this point, since the notary acts in an advisory capacity in the run-up to the purchase contract.

House handover

Depending on the relationship between real estate and seller certainly one of the most emotionally difficult parts of selling a house. Especially if the house sale has arisen out of an emergency situation and the separation from the property is more or less involuntary. Selling through a third party – such as Lukinski – is especially silent and unproblematic at this point.

There are often delays in the handover of a house. For example, because the seller’s new property is not yet ready for occupancy, or other things delay the handover. In a purely private sale, it is then again up to the seller to manage these delays. Often also with unpleasant discussions with the buyer up to rechntlichen arguments. As a mediator in the true sense of the word, the knowledge and experience of the broker can also be in demand here.

Inspection, negotiation and error

Preparation: documents, planning and support

You want to sell your house or a condominium and quickly find an adequate, solvent buyer? Then be sure to keep in mind that the preparation phase is the foundation for a smooth house sale. Be prepared for a time-consuming and complex task.

For a sale from private you need a whole contingent of documents. Even the smallest mistakes can have costly consequences and make selling a house very difficult and long-term. The complexity already starts with the offer price determination. If you set the condition based on a professional real estate appraisal, you have a good chance of achieving the desired selling price. Nevertheless, a lot of negotiating skills, sensitivity and knowledge of human nature are necessary. Be prepared for a wide variety of questions from potential buyers and arm yourself with all the necessary documents that could be asked for or should be shown without being asked. Now an exposé must be created and your object must be described according to the truth, yet from its most beautiful side. The choice of words in the presentation decides significantly how quickly and at what price your property changes hands.

Visitation: Talks and presentation

Every prospective buyer would like to visit the property before buying it, in order to get an idea of what it looks like. The viewing is therefore an important part of the sales phase. The more attractively the property is presented and the better prepared you are to answer the prospective buyer’s questions, the higher your chances of success. However, this requires some preparatory work and good organizational skills.

The first impression counts

Tidiness, openness and the right atmosphere – The same applies when selling a house: The first impression counts. That’s why a property should be presented as attractively as possible. This means that both the interior and the exterior should be prepared accordingly. Lawns and hedges should be well-kept. If necessary, a new coat of paint on the facade is recommended. Garbage and bulky waste should be removed. Inside, tidy and clean rooms make for a pleasant ambience. In the best case, tours should take place during the day. In the winter months, sufficient lighting should be provided. If the rooms are dark, they convey an uncomfortable impression. You can make the room look inviting by using discreet decorative items, such as plants or curtains.

Presentation and decoration

But it is not only the presentation that counts. House sellers should also be able to answer critical questions at the viewing appointment. Here, too, you have an advantage if you hire a real estate agent. He knows the common questions and of course the appropriate answers. He has the floor plan and the energy passport ready and knows the floor space of the house. Many potential buyers are also interested in information on ancillary costs and house fees. During the viewing, all questions should be answered satisfactorily. Advantages can be emphasized. Conversely, defects must not be concealed. The seller is liable for these even after the contract has been signed, at least if he knew about the defects in question and did not name them when asked. An experienced broker knows exactly what he must disclose and what not.

As a rule, it is advisable for the seller not to be present himself at the viewing appointment. Instead, leave this task entirely to the broker. This has many advantages. For example, the prospective buyers have fewer inhibitions to ask questions. In addition, you as the seller do not run the risk of making a remark that could possibly scare off the prospective buyer. In addition, the broker always remains professional and unemotional during the conversation. After the viewing, he hands over a prepared exposé with all the important key data of the property to the interested parties.

Negotiation: preparation, expertise and experience

Negotiating the sale of a house requires not only expertise and experience, but also sensitivity. Owners who sell their apartment or house are usually emotionally attached to the property and often estimate its value higher than it is. This is not only detrimental when determining the value of the property, but also during negotiations. A real estate agent, on the other hand, always remains objective. He is not guided by emotions and can therefore usually offer a better negotiation result.

If you would like assistance in selling a house and in negotiating, it is best to contact Lukinski. We sell real estate and distinguish ourselves through our expertise and years of experience. In the negotiation talks we use our know-how and our tact, so that you can achieve the best purchase price. Trust in our sales talent and benefit from our routine.

What matters in the negotiation

Good preparation is the key to a successful price negotiation. Lukinski’s broker knows that the buyer will also prepare for the negotiation and will know how to use every flaw in the house against him. It is all the more important to know the advantages of the property. These include, for example, a quiet location in the countryside or a central location in the city. Good transport links and shopping facilities also raise the value of a property. Other advantages can be a newly installed heating system, freshly painted walls or a recent renovation. The proximity to a university or an important employer also speaks for the property.

Since the sale of a house is basically negotiated, it is to be expected that the starting price can not be achieved. Accordingly, it should be set higher, but also not too high. If the broker and seller decide on a moderate starting price, the buyer feels that he is being treated fairly and does not have the feeling that he is sitting across from a profiteer. An inflated purchase price leads to longer and tougher negotiations, during which the price must be lowered more. If the house is in a desirable location and needs to be sold quickly, there is also the possibility of setting a low price, which then leads to several prospective buyers outbidding each other and you, as the seller, ending up with the desired price. Which strategy is suitable for your property depends on many individual factors.

Avoid mistakes: Sell privately or use a broker?

It can’t be that difficult to sell your own house or apartment. But if you proceed to sell your house with this certainty, costly mistakes are already pre-programmed. Before we go into more detail about the mistakes and show you why you should entrust an experienced broker like Lukinski with the sale of your property, we would like to point out a fundamental problem.

If you manage the house sale alone, you are practically on duty day and night and have to invest all your time in presenting the property, answering buyer inquiries and scheduling viewings. Even the necessary procurement of all documents in advance is a hurdle race that not every owner willing to sell can overcome without a “black eye”. You can sell real estate in a serious and professional manner by outsourcing the complex task and concentrating on professional execution by real estate agents like Lukinski. As an online real estate agent, we work quickly and reliably, so that you can sell at the best price to a solvent buyer without any stress.

The most common mistakes in the sale

The first mistake occurs long before you even deal with the exposé and its creation. You set the asking price for your property too high and tend to overvalue it, which is perfectly human in terms of your emotional connection to the property. In the end, an astronomically high price that is completely out of touch with the market will cause the sale to drag on unnecessarily, and your property will not arouse any real interest among buyers. The opposite, too low an offer price also brings disadvantages for you. If you offer your property for less than its value, numerous buyers will come forward immediately, but the loss on conclusion of the contract is pre-programmed. Missing documents, meaningless or underexposed photos, pictures of the property taken on rainy days, and photos on which the street and your house number are recognizable always prove to be mistakes in real estate sales. If you don’t want to be rung out of the house without an agreed viewing appointment, you should make it difficult to locate your property and for this reason specifically refrain from publishing information such as a house number or street identification in the exposé. A sale from private sources attracts bargain hunters, but also numerous dubious resellers. You will hardly save yourself from inquiries, but you will hardly be able to achieve the desired price and a satisfactory sales transaction. At the latest during an inspection, the presence of the owner can have a detrimental effect on the sale.

Purchase contract: procedure, notary, preliminary and main contract

The contract of sale records all the regulations and information necessary for the sale of your house. Therefore, it should be prepared with great care. In order to avoid ambiguities and unpleasant surprises, it is recommended to place the purchase contract and the entire house sale in the hands of an experienced real estate agent.

Notarized preliminary contract is almost always binding

When selling a house or a condominium, so-called preliminary contracts are concluded. These only become legally binding when they are notarized. Only with the signature of the notary is the house really sold. The preliminary contract sets out all the key points for the sale of the house. If both parties agree and the preliminary contract is concluded, the main contract follows. If the preliminary contract was not notarized, it has no meaning. In this case, both the buyer and the seller can withdraw from the contract without giving any reason. However, once it has been notarized, the preliminary contract is binding, so that it provides security for both parties. Only in rare cases is it possible to withdraw from the preliminary contract. These include natural disasters, for example. If there are no serious reasons and one of the two parties withdraws from the preliminary contract, the other party can assert claims for damages.

The following points should be stated in the preliminary contract:

• Name and address of buyer and seller
• Details of the object of purchase including furniture
• The purchase price and payment terms
• Fixed date for the conclusion of the main contract
• Indemnity clause

Once the financing has been clarified, the preliminary contract can be signed and notarized. The notary checks the land register and discusses further details with both contracting parties. The notary then draws up the main contract. This contains the information from the preliminary contract as well as all the conditions that were discussed during the notary’s meeting. This includes, for example, the handover of the house, the regulation of the purchase price payments and the due date, land register declarations and, if applicable, a financing power of attorney. This is required if the buyer needs a loan to finance the property.

Both sides have time to review the main contract. If there are no objections, the main contract can be signed and notarized. With this the house sale becomes legally binding. After the payment date, the handover of the house and keys can take place according to the agreements in the contract.

Check buyer: Credit check

Creditworthiness and solvency check – The creditworthiness check provides information on various factors. It certifies, on the one hand, the ability to finance a real estate purchase and, on the other hand, the willingness to pay and reliability. These data can be obtained by past credits and installments. Through a self-disclosure from Schufa, sellers can realistically assess whether the buyer is able to pay the purchase price and other costs, such as for the notary or for the land transfer tax, and whether he is also willing to do so. The seller can request the information from Schufa himself or demand a self-disclosure from the buyer. The latter is more likely to be used in practice, as it involves fewer costs. In addition, the self-disclosure contains all relevant data, such as the overall assessment of the payment risk and all information about payment experiences in the past. The self-disclosure is free of charge for the buyer.

Financing confirmation, notary escrow account and credit rating

Furthermore, a financing confirmation can be requested from the bank. However, this is only meaningful if the loan is expressly intended for the financing of a real estate purchase. In addition, the disbursement of the loan should not be subject to other conditions.

To provide more security, a notary escrow account can also be set up. This is monitored by the notary and is intended to protect the seller. Only when the money has been received is the property transferred into the buyer’s possession.

The credit check should take place as early as possible. This prevents long negotiations that turn out to be superfluous in the end. Also, you may have already turned down other prospective buyers who have purchased another property in the meantime. A good realtor will conduct the vetting of the buyer in a timely manner. In addition, he also advises the buyer to hold financing discussions with his bank as early as possible. This is because it can take up to 14 days for a financing confirmation to be issued. In addition, the buyer must have documents ready for the approval of a loan, which may have to be obtained first.

Handover: protocol, handover of keys and documents

Once the purchase contract has been signed and the notary appointment has been dealt with, the final step of the house sale follows: the handover. This is when you place your property in the hands of the new owner. To ensure that nothing goes wrong and there are no unpleasant surprises after the conclusion of the purchase contract, there are a few points to bear in mind. Damages or a subsequent reduction of the purchase price make many buyers’ hair stand on end.

Once the purchase contract has been signed and the notary appointment has been dealt with, the final step of the house sale follows: the handover. This is when you place your property in the hands of the new owner. To ensure that nothing goes wrong and there are no unpleasant surprises after the conclusion of the purchase contract, there are a few points to bear in mind. Damages or a subsequent reduction of the purchase price make many buyers’ hair stand on end. But that doesn’t have to be the case.

The handover is the last hurdle you have to take when selling a house. As a real estate agent, we naturally also take on this task for you. A handover protocol creates clarity and avoids disputes. The purchase contract alone does not record all the essential points. Defects, meter readings and existing inventory can be recorded again or in more detail in a protocol. This is signed by the seller so that he cannot subsequently claim that he did not find the house as contractually agreed.

The handover protocol for the sale of a house is not that dissimilar to the protocol for the handover of a rental property. However, other important points must be recorded. These include, for example, defects that still need to be remedied by the seller. A date for this should also be set. In addition, the handover protocol should record which inventory still needs to be removed. In addition, all meter readings are written down. The process of handing over the keys is also noted in the protocol. If keys are still missing, a note is made of how many and when they will be handed over. By the way, the keys are usually handed over only after the purchase price has been paid in full.

At the handover of the house, not only the keys are handed over, but also many other important documents. Building plans, floor plans, the calculation of the living space, building contracts, expert opinions, maintenance contracts, insurance certificates and much more are handed over to the new owner on this day. If you are selling a rental property, the rental contracts and the documents about the various tenants must also be handed over. During the handover, the seller will usually also explain to the buyer how the heating system works, as well as other important appliances in the house.

Checklist documents handover:

• Construction plans
• Floor plans
• Calculation of the living space
• Construction contracts
• Expert opinion
• Maintenance contracts
• Insurance policies

Notarization: Notarization by a notary public

In order to draw up a purchase agreement for a property, it must be notarized. The purpose of notarization is to protect the buyer and seller from hasty decisions and to ensure that the interests of both parties are properly recorded. The recording of the interests is carried out by a notary, who is not a representative of the interests of one side, but acts impartially.

Real estate valuation: Determine market value

For what price can I sell my house? This question is asked by every owner who wants to sell a house and know what price is realistic in the offer. Although the real estate appraisal is an estimate, it is based on an objective and therefore plausible assessment. In practice, it is seen that the value varies from appraiser to appraiser and that, despite real estate appraisal, there may be different price recommendations. Nevertheless, you should not rely on your gut feeling or your own emotionally made estimate when it comes to the selling price of your house. In order to value a property, various factors must be included in the determination. The more comprehensive and professional the real estate appraisal is, the more cost-proof you will sell the house and the lower the risks of presenting an offer below or above the actual market value.

No real estate valuation? No realistic pricing possible!

Not having a real estate appraisal means that the price of your house depends primarily on a feeling and the expenses you put into the object. Properties that are sold without a property appraisal are usually priced too high and are therefore practically unsaleable, or too cheap and therefore incur a loss when sold. As an owner, you do not need to know the factors influencing the asking price if you choose to have an appraisal done by an expert. Before you name a price and commit to a sale amount, be sure to find out what the fair market value of your home is. If you sell without a property valuation, you are making one of the biggest mistakes in the real estate business and will rarely produce an offer that is authentic in the context of the property on offer and therefore interesting to the buyer and right for your own finances.

Real value and market value – the differences

When selling a house, there are ultimately two values, of which the market value or fair market value is relevant for determining the price. The actual material value states what value a house has based on its year of construction, its equipment and its substance as well as the size of the plot. If you know the material value, you know what objective value is associated with your house. But the purchase price is not related to the pure objective value, but to the market value or fair market value. In this real estate valuation, factors relevant to the environment and the market are incorporated and form the basis of the pricing. In order to determine the market value, a lot of know-how and market knowledge, analyses and comparisons as well as experience in the valuation of real estate are necessary. Due to high demand and few offers, the market value today is often higher than the pure asset value and gives you the opportunity to sell the property at the current highest possible price. The market assumes the greatest importance in the determination of market value is a decisive factor in deciding whether you can sell your house at a good or a rather low price. To avoid mistakes, you should hire a real estate agent or appraiser to handle the challenges of the appraisal and determine the best asking price for which your property will be advertised and sold.

The mortgage lending value is based on a well-founded expert opinion of a real estate valuation

The market value is an important parameter not only for you as the owner, but also for potential buyers. To enable real estate financing, the lending bank requires the property’s mortgage lending value. This is based on the market value and amounts to 80 percent of the sum determined as the market value in the property valuation. Explicitly, the mortgage lending value is a well-founded estimate of the sum for which a property can be sold in the longer term. For an interested party, the valuation of the property is important for two reasons. The asking price reflects seriousness and indicates that it was determined with expertise and not estimated with emotional influences. In second place is the mortgage lending value, which is important in the context of financing and decides decisively whether a prospective buyer can finance the property for the specific offer price and obtain confirmation from the bank.

Important facts in the value appraisal

The real estate valuation is composed of different aspects. Of course, the building fabric, i.e. the actual material value of the house, plays an important, not to say the most important role. But equally significant are the details of the location, which have a significant impact on the selling price. In highly frequented and popular regions, the real estate prices are far above the offers in rural, infrastructurally weak and less sought-after regions. While the tangible value of the property is a variable variable, for example through demolition and new construction, the location remains static and unchangeable. A property valuation takes into account the future development of the region as well as the current popularity of the location in which you want to sell your property. The better the infrastructural development and networking at the location of the property, the higher the offer price can be. For a property valuation, the demand for a property in this location and the supply volume of houses are also taken into account. Comparative prices of similar properties in the same location are also included in the valuation.

Determine market value

The determination of the market value of a property is regulated by law in the Real Estate Valuation Ordinance (ImmoWertV). In addition to the type of use, the size of the property and the condition of the property, the energetic condition are also important factors in determining the market value. The value relevance of urban development circumstances (urban planning measures in urban redevelopment areas) and foreseeable future developments are also taken into account. The market value is determined by brokers or appraisers. However, only licensed real estate appraisers can determine a judicially recognized market value.

The fair market value (market value) is the price that can be obtained in the specified time frame in the ordinary course of business according to the legal circumstances and actual characteristics, other features and the location of the property or other object of the valuation. In 2004, the term “market value”, which is used throughout the EU, was added to the definition of market value in Section 194 of the German Building Code (BauGB). The market value is therefore an estimate of the price that can be achieved on the market. The market value is generally used for the sale and purchase of land and buildings. The determination of the fair market value may also be required in the case of foreclosures, tax levies by the tax office, and divorces and inheritances.

Determining market value: which factors are important?

The determination of the market value refers to the macro-location (city/region) and the micro-location (immediate surroundings of the property) of the property, its section, size and any existing land charge entries that may reduce the value. In accordance with the German Building Code (BauGB), the market value is not a permanently fixed value, but refers to the reference date stated in the appraisal report. It is possible that the market value may change significantly over a certain period of time.

The market value quantifies the value at the time of valuation. The market value appraisal takes the following points into account:

• Tangible value of the property, if developed
• Nature and location of the land plot (size, type of development)
• Legal circumstances (e.g. land register, monument protection)
• Other objects of the valuation

In fact, however, market demand decisively influences the value of your property. The demand for real estate as well as the equipment features sought vary greatly from region to region.

Practical procedure for determining the market value

When it comes to selling real estate, the free real estate appraisal is an excellent starting point for a quick and good sale. However, if an appraiser is to determine the market value, the exact task is first discussed with the client. An appraiser must be appointed in special cases (e.g. in the case of inheritance disputes or in the case of divorce), for example, if a market value appraisal or a written statement on the market value is required. The appraiser may only determine the condition and value of the property in an on-site appointment with access to all premises.

Documents for the determination of the market value

In general, the following documents are evaluated for the determination of value in the sale of real estate:

• Land register excerpt
• Construction plans, floor plans, sections
• Building description
• Site plan and parcel map
• Living space calculation
• Energy certificate

In the case of condominium ownership, the following are additionally required:

• Minutes of the last three owners’ meetings
• Business plan
• Declaration of division (land register)
• Housing allowance statement

In the case of income properties, the following must also be submitted:

• Operating costs
• Rent statements
• Rental agreements

In the case of rights and encumbrances, the following must also be included:

• Notarial deeds
• Special registrations (rights of way, residential rights, etc.)

Weighting of criteria in the fair value

Special weighting is given to the location and the expected future risks of the property. The risks are mostly modernization risks, such as the costs to be expected from a renovation backlog. For this purpose, the most expensive maintenance measures, which usually include the roof, basement, windows and heating, are assessed. The type of house is also assessed. With a year of construction until 1945 it is an old building, after 1945 the building is listed as a new building. In addition, the exterior design, floor plan, garden, facade, room layout and lighting conditions are taken into account.

Factors such as location, balcony and attractiveness to the target group play an important role in the rentability of the property. Other factors included in the valuation are, for example, an elevator and the furnishings of the property:

• Property area (proportionate living area or total area)
• Living space according to the Living Space Ordinance (WoFIV)
• Garage, underground parking, parking spaces (existing renovation risks)
• Basement additionally usable or e.g. renovation backlog in the basement
• Demographics to object location
• Property type (commercial, residential, care, monument, other special types, mixed property)

Valuation: capitalized earnings value method & asset value method

All important information on valuation for the sale of real estate and the other valuation procedures clearly summarized for you:

The capitalized earnings value method – division into market value & building income value

The capitalized earnings value method divides the property into the market value of the land and the building income value. This includes rental income, maintenance costs and costs for managing the land and building. Accordingly, the rental income less the management costs and the land value including its interest are compared.

Our team of investors at Lukinski will gladly prepare yield calculations for your desired property. Prospective buyers can be convinced of good returns. Upon request, we will inform you of the data required for the calculation. After receipt of the documents, we take over the determination of the yield value and give you a first estimate of the yield.

The asset value method – value for the new construction of a property

The calculation first determines the market value of the land using the standard land value, and then adds the real building value. The real building value is calculated from the building production costs less any age-related reductions. The land value (market value of the land) and the building value are added together and multiplied by an asset value factor. The calculation of the real value factor depends on the type of building, the preliminary real value and the standard land value. The total tangible asset value determined in this way indicates the financial resources that would have to be expended to rebuild the property.

The comparative value method – comparison with similar properties

The comparative value method compares your property with similar properties. It is used in particular for the sale of condominiums and apartment buildings. The comparative value can also be determined for undeveloped land. Only properties in similar locations and with a comparable layout are taken into account in the comparison. The properties included in the valuation should be from the immediate vicinity of the residential property. The comparative value method is considered to be particularly close to reality. It is frequently used to determine the value of real estate because the locations are relatively comparable from a regional perspective.

The energy certificate – mandatory when selling real estate

The energy condition of a property is one of the most important decision-making criteria for prospective buyers. This is where the energy passport comes on the agenda, as it provides information about the energy efficiency of the house and thus about future consumption. The energy efficiency is classified on a scale from A+ to H, whereby the letter H stands for urgent measures in energy refurbishment and indicates that the property is no longer up to date in terms of energy consumption.

No real estate sale without energy certificate

Only authorized experts may take care of the preparation of an energy certificate (according to §16 of the EnEV). This means that you need to look for an expert with the appropriate license. The §16 EnEV specifies that every real estate buyer must receive an energy certificate. For you as an owner and seller, this means that you must have the pass produced and included in the sales documents. If you refuse to produce and present it, owners commit an administrative offense and can be fined up to 15,000 euros.

Why is the energy certificate so important? It contains all the information relevant to the buyer on the energy status of the property. It also provides information on how much energy has been consumed and what supply costs the future owner can expect. If the energy balance is negative, this circumstance points a prospective buyer to the necessity of an appropriate reorganization and thus to high costs, which come for example by the renewal of outdated electricity and a heating system on it. The energy certificate is an integral part of the exposé when a house is sold by our brokers and is published directly online. During a viewing, interested parties receive a direct view of the original and an explanation from us on how to read and evaluate the energy certificate.

Demand certificate or consumption certificate?

A consumption certificate costs 100 euros, while a demand certificate costs between 300 and 500 euros. The costs for issuing the energy certificate are borne by the owner, who is obliged to provide this data when selling the house. We advise you to have the informative requirement certificate drawn up and not to save at the wrong end by only providing a consumption certificate with far less helpful data for the buyer.

The consumption certificate is based on the last 3 annual bills of the energy provider. In contrast, the demand certificate contains concretely determined facts that are checked by an energy consultant on site. The main difference between a consumption and a demand certificate is that the former provides information about the past, while the demand certificate looks at energy consumption in perspective. This requires an on-site specialist to check the condition of the building, the insulation and the heating system, and to use this individual data in combination to create a forecast for the building’s energy balance.

Real estate agent: advantages

The biggest challenge in the sale of houses or apartments is the determination of a correct offer price. In this regard, we recommend a market value assessment, which includes all factors far from the pure real estate price.

The equipment and building fabric of a house are just as important in determining the market value as the location, market-specific factors and infrastructure, as well as the difference between supply and demand. If you have the valuation carried out as a private client, you must expect costs of around 1,000 euros and more.

Determination of market value and ancillary purchase costs

If, on the other hand, you hire a real estate agent, the market value appraisal is included in the scope of services and is financed by the buyer via the ancillary purchase costs. You can have your property sold professionally without incurring any costs when selling the house or apartment. If you do without a market value appraisal, you usually estimate an implausible price and offer the house above or below its real value. In both cases, you are making a momentous mistake that can prolong the sales process or lead to avoidable losses.

With an experienced real estate agent, you protect yourself from mistakes when selling real estate and have the certainty that you will be presented with an offer for sale that includes the current value of your house, land or apartment based on all the facts. Likewise, you do not have to worry about organizing documents, preparing the exposé or publishing your offer. All processes relevant in the sale are carried out from one source and in a professional manner.

Der Beitrag Selling an apartment building: Determine price, taxes & tenants + speculation tax erschien zuerst auf ℄ Real Estates.

How does the sale of a property work?

Family house, row house, villa – location

In all ranges above all the situation counts, not only with the sales of your single family house, terraced house, villa & Co. Land sell, house sell in addition, with the multi-family house sell, the situation is a central evaluation factor for the selling price of your real estate. Selling privately or “for free” and without an agent bears risks and makes the sale as well as the whole transaction (valuation up to notary and contract of sale) prone to errors. Selling real estate needs a good network of buyers, often real estate is not presented publicly, but only internally as off market property.

Foreword – Free tips? Yes!

All my tips in this guide are free of charge for you. As real estate brokers, we broker real estate from 1 million Euro sales value under the category luxury real estate. We give you here gladly Tipps and cheat for your sales, free of charge, in detail and step by step explained. Please also pay attention to our links, here you will find more detailed information on the individual topics. Should you wish to sell your property with us: Do you know what our unbeatable advantage is? We independently reach more than 250,000 readers per month, which means 3 million people per year. We are independent from common real estate portals and reach a solvent, special target group. In addition, we offer internal buyer groups and investors in our Off Market area, to whom you have no access via usual offers. Read more here: Real Estate Agents.

Marketing, client base, negotiation, brokerage?!!

The longer one deals with the sale of houses and condominiums, the faster one realizes how complex the matter is. From meaningful renovations in the house before the sales, up to modern marketing in the customer master in addition, by digital media. From the simple search for house sales fast more complex searches become to sell house privately expiration and the realization, which costs private house sales much time, possibly smaller purchase prices brings and naturally risk.

With the sales of real estates, privately or over a real estate agency, many questions arise. From simple topics to the selling price up to more complex tax questions, like:

• Which documents do I need to buy a house?
• What kind of documents do you need to sell an apartment?
• What is the time schedule and duration of the house sale?
• Who pays the notary public at the sale of the house?
• Which documents does the notary need from me?
• Where can I find a private sample contract for my house sale?
• Selling a house without an estate agent – is that possible?

No time? Read more about selling a house quickly here.

Special Advisor? House, apartment, apartment building

Houses are characterized by the fact that they are inhabited only by a family, a couple or a person living alone. They have a garden, which is also owned by the owner. Not all single-family houses are inhabited by their owners. There is also the possibility to rent a family house with a garden. In almost all federal states, single-family houses are very popular as a form of living. The demand on the property market is correspondingly high.

Here are free guides for all frequent cases of sale:

• All tips: Sell a property
• Selling an apartment
• Selling a house
• Selling an apartment house
• Selling a plot of land
• Sell property: Heir
• Selling property: Divorce

Sell real estate: profitable, safe and fast

Once the sales price has been defined and the exposé has been drawn up, we are also happy to receive inquiries from interested parties on your behalf. In addition, we also arrange viewing appointments with the interested parties and carry out the visits. It is important to us that your house is sold according to your ideas and wishes. Once a suitable buyer has been found, we will also be happy to accompany and support you in concluding the purchase contract with the notary and making the entry in the land register.

You have now clearly seen the complexity and scope of a property sale, which is why you should rather avoid a private sale without an estate agent with the necessary knowledge. If you still want to sell without an estate agent, here is our XXL guide to selling a house. For:

• Single-family house
• Apartment house
• Reihenhaus
• Double house
• City villa
• Villa
• Designer house
• Country house
• Half-timbered house
• Building house / Cube
• Mediterranean house

Valuate house: Calculate purchase price

There are many questions to be answered, the best answer is an expert at your side for real estate valuation. The central criterion is often the location. Real estate prices vary regionally, sometimes considerably. Therefore only objects in the proximity may enter into the real estate comparison.

When evaluating a house, aspects of the micro and macro locations are just as important as the immediate location of the property: soundscape, view and lighting conditions interest potential buyers and influence the value of the property and the achievable price.

Before we get deeper into the matter of evaluation of location, building fabric, market value & Co., we first ask 3 basic questions which reach us in consulting discussions with customers:

• How can I value a property?
• Who determines the market value of a property?
• How does the bank value a property?

Fair value is defined as the price that is calculated at a certain point in time according to various criteria and that is realizable for the property in the ordinary course of business.

House sale: basics and procedure

Sell privately – Selling a property successfuly as a beginner is harder than you think. There are many things to consider and many mistakes that can be made. So you should inform yourself about the procedures from the beginning and be sure that you do everything right. You can of course consult an estate agent for support, but this is not always the best choice.

The right advertisement is the be-all and end-all for the self-marketing of a property. But there are also other aspects to consider. If you approach a house sale without help, you should be prepared for a lot of time and self-organization. This process can only be made easier if you have the right expertise on the subject.

Display: Headline, content and attention

There is nothing worse than your ad going under in the crowd. Short, sober descriptions bore potential buyers and are not very inviting. So make sure that the title is already written in a relaxed but serious way. You should use a language that is as rich in images as possible, which arouses emotions and thus attracts attention.

Think about the title that would catch your attention. Particular advantages of your property can be highlighted by formulations such as

‘elegant old building with stucco’ or ‘sunny south terrace’

be highlighted, because you appear enthusiastic and invite the real estate seekers directly. Try to lure the buyer already with the headline on, so that he clicks further on your advertisement.

Once the potential buyer is on your ad, two further factors can convince him or her of the property. The ad text and your pictures. In your text you should explain important key data of the property as well as the criteria of the property.

Among the key data are:

• Number of rooms
• District
• Balcony
• Built-in kitchen
• Floor
• Full bath
• Cellar rooms
• Etc.

Describe the location of the apartment, its advantages and also name the furnishings as precisely as possible. Particularly high-quality equipment, should be listed with manufacturer. This includes kitchen equipment, heating systems but also other objects that will remain in the property. Name in this connection on the costs for the distance payments for existing equipment and brokerage.

Also important is information such as rental price, additional costs and the size of the apartment in square meters. Ask yourself again: ‘What would I want to know about an apartment?’ and describe everything in detail.

• Cost price
• Incidental costs
• Size of the base area
• Size of the living space

Photos: daylight, open space and diversity

But the most important factor are probably the pictures. A buyer naturally wants to see as much of the property as possible to get an idea of whether the object could be something for him.

In order to take great pictures of your property, there are a few things you need to consider. First of all, the rooms should be tidy and clean. Nobody is attracted to pictures of a messy apartment, because potential buyers want to imagine living in the object when they look at the pictures.

You should definitely take the pictures in daylight, so that the rooms can be seen very well and the buyers can estimate how much daylight falls into the rooms. Your cover picture should be the most meaningful and represent the best of the apartment.

The most beautiful room, the roof terrace, the open kitchen or maybe the bay window with a view. The first picture should impress and make the prospective buyer want to see the apartment. Pictures of all rooms and if available the garden/balcony/terrace, an exterior view and above all a floor plan may not be missing in any case.

The floor plan should never be missing, since potential buyers can get an impression of the size of the individual rooms in relation to each other and can see the layout of the rooms better. A video is also possible, although it does not replace the viewing appointment, but gives the prospective buyer a good overview.

Photo tips at a glance:

• Clean and tidy rooms
• Daylight (speaks for bright rooms)
• First image should be the best photo
• Cover all rooms and surfaces
• Floor plan
• Ground plan

Example: House after renovation (increase in value)

Example: Outdoor area and real estate in full screen

Example: Interior with fireplace

Example: Garden with pond

Taxes: 2 years not taxed

Who would like to sell its real estate, must consider also from the fiscal side some. These concerns are divided into an owner-occupied property and a property used by others.

There is a two-year period for owner-occupied real estate. This refers to the notarization date for the purchase and sale of the property at the notary.

Between these two dates, there must be a minimum of two years so that you do not have to pay tax on the profit from the sale.

For real estate used by third parties, a different deadline applies. In this case there must be a whole 10 years between the two dates. But caution is required here, because there are special regulations. Whoever sells more than three pieces of real estate used by third parties within five years is assumed by the tax office to have a commercial intention and the profits from the sales must be taxed and this also applies retroactively if the tax office only recognizes later that the sales are to be attributed to the commercial trade with real estate.

Time and effort: Prepare well

If you simply place an advertisement on the Internet quickly, your chances of a successful sale are rather low. In advance you should prepare yourself well and acquire the necessary expertise. Therefore you should gather information about the regional real estate market in order to be able to estimate in which area your real estate is located. In addition, you should already have all the important documents ready, because prospective buyers want to see them and you are necessary for the further sale of the house. This includes copies of:

• Floor plan and site plan
• Extract from the land register
• Energy Performance Certificate
• Calculation of living space and land

Go through these documents again yourself to answer any questions you may have. Prepare your property for photos and viewings, muck out and clean up.

Assign an agent: Yes or no?

What to look for when choosing a broker and selling without a broker: The decision whether to sell your house with or without a broker has many different aspects.

An estate agent can help you with advice and support, apply his or her expertise, and take work off your hands and help you. However, he will receive a commission that could reduce your profit. So if you decide to sell your house without an agent, you should consider the following points so that you do not make unintentional mistakes.

Although you save the broker’s commission in a private sale, you have additional costs that should not be underestimated, as they can amount to several thousand euros. These include taxes (speculation tax), renovation work, deletion of the land charge in the land register, advertisements and notices, expert opinions (appraisal, energy certificate) or prepayment penalty in case of a prematurely terminated loan.

If you are selling privately, you will find here my list of recommendations for real estate online portals for private sale.

Checklist: Sales process in 12 steps

Checklist house sale: 12 steps for selling houses and apartments. This is how we market your property.

1. Realistic time planning and considered strategy for the sales phase
2. Sale with or without broker?
3. Do you have all the documents for the sale?
4. Is your real estate prepared for sale?
5. Is the sales price you have set realistic?
6. Planning the marketing strategy of the property and placing targeted advertisements
7. Establish contact with interested parties and prepare for questions
8. Prepare for questions and establish contact with interested parties
9. Arrange and carry out viewing appointments and market the property convincingly
10. Sales talks with interested parties as well as creditworthiness check
11. Draw up and prepare the purchase contract for signature
12. Appointment for notarization at the notary and transfer to the new owner

Documents: energy pass, land register and Co.

If you want to sell a house, you must have many documents at hand. The floor plan and the energy performance certificate are only some of them. The presentation of your property is also important, which is why we need beautiful and meaningful photographs for the exposé. Let us help you with the preparation of the exposé and benefit from our experience. An exposé is basically the first impression a potential buyer gets of the property, which is why it is so important.

We know what is important to potential buyers, we see immediately which special features deserve their attention and should be emphasized and which aspects should not be missing in the exposé. Because only if the house is attractively advertised, a buyer will be found. And only if a buyer is found, you can earn money with the property.

Sale price: Determine offer price

Many people base the price on what they once paid for the property and hope to get the value they invested back. However, this can be far below but also far above the current value of the property.

You can have the value of the property estimated or you can use current prices of similar objects as a guide. Crucial for the price is however the current supply-demand situation. So try to wait for the right moment and sell your property so profitably.

Valuation: Location, equipment and the special charm

But how much does the property actually earn you? Valuation is our greatest strength, but it also depends on where your property is located, what type of property it is, how old it is, what quality it has and what condition the fixtures and fittings are in. Unfortunately, it is not always important what you have already invested in renovation and refurbishment or what price you paid when you bought the property, but rather how the demand and supply currently presents itself.

This is exactly why it is almost indispensable to employ experts when selling your own property, who will carry out the valuation using local knowledge and industry expertise, so that you do not earn too little money, but also do not experience too much disappointment.

You already knew? We evaluate and analyze for you free of charge

Did you know? We evaluate and analyze for you free of charge! First of all, it is important to know which basic criteria have an influence on the evaluation of a house or apartment. For the evaluations all conditions are asked in detail. This includes:

1. Object data of the apartment
2. Equipment of the interior
3. Construction condition and facilities
4. Modernization measures
5. Individual object criteria of your apartment
6. City district and local connection (school, supermarket, etc.)

For comparison you will find here different real estate prices in Germany. Focused on the large conurbations of the individual federal states.

Real estate prices: Germany comparison

Real estate prices:

• Berlin
• Düsseldorf
• Frankfurt
• Cologne
• Hamburg
• Hanover
• Munich
• Stuttgart

Marketing of the offer

Putting an online ad online only at a portal reduces your chances of a good sale. You want to reach as large an audience as possible with the ad and should therefore offer it on several platforms.

But not only online portals are a possibility. Newspaper ads can also be effective. However, the classic newspaper market is saying goodbye more and more. If you sell privately, focus especially on real estate online portals for private sale.

Also use your social environment to spread the news of the sale. Maybe the friend of a friend is looking for a property just like yours. Use all possible platforms and thus increase your reach and your chance of a sale.

Observation appointment until contract conclusion

It is always a pleasure to see the exposé that has been prepared arouse interest and the first interested parties move. If the demand is high, this can quickly become stressful for you as a seller, especially if you have a job and private obligations at the same time.

Visit: First impression and simple tips

In addition, we will also carry out the agreed inspections in your interest. Of course we have the same goal as you: to sell your property successfuly and quickly.

No matter whether your real estate agent conducts the inspection alone, or whether you will be present at the inspection or whether you will let us conduct it alone: care and preparation are essential.

Your property should be well cared for so that the prospective buyer gets a good impression of it. A prospective buyer will want to make plans for the furnishings before he or she has even seen the property and will dream of sitting at the dining table with his or her family. If the property is then unkempt or dirty, the interest can quickly be lost.

Conclusion: purchase price, sales contract and credit rating

Once the inspection has been carried out and a number of interested parties have been found, the next step is to find out whether these interested parties are also in a position to buy the property at the desired price. In this case, your real estate agency will take all the necessary steps for you to check the purchasing power of the potential customers.

Once this step has been completed and the ideal buyer has been found, the step to the notary public must be taken.

When selling a house, there are a few rules to be observed to ensure that the sale of the house goes off as quickly and smoothly as possible. Sellers of a tenement house have to clarify certain tax law questions.
Only self-users are excluded from this regulation. In addition, incidental costs for the sale must also be taken into account.

Ancillary purchase costs: land transfer tax, notary costs & Co.

The decision to sell a home is associated with costs, but the buyer bears a large part of these costs. The registration in the land register is in many cases borne by both parties, as are the costs for the estate agent. Take these items into account if you are planning to sell your property. Taxes are not actually payable on the purchase price.
However, if you have inherited the house and wish to sell it before ten years have passed, you may be assessed for inheritance tax. The amount of the tax is based on your relationship to the deceased and your individual tax allowance. It is reduced by the amount you have already claimed under the inheritance.

Ancillary purchase costs in federal states differ

Ancillary purchase costs such as land transfer tax or notary fees vary from state to state.
If a loan for the house has not yet been paid off, it is advisable to negotiate a loan assumption with the seller. If you want to pay off the loan yourself after the sale, in most cases you will have to pay an early repayment fee to the bank. In order to obtain a fair market price, an expert opinion should be consulted.

Improve the appearance of the property

An important part of the sales process is also the presentation of the property. If possible, take pictures of your house from different perspectives. Pay attention to the lighting conditions. If you are not sure whether the photos are of sufficient quality, consult a photographer.

Before you sell your house, you should carry out any necessary repair work. Especially important are those works that will visually enhance your property.

Function of pipes and installations

Of course, all lines and installations should also work perfectly. A need for renovation will in any case reduce the value of your property. Also make sure that the entrance area and the front garden appear in a visually perfect condition.

This is very important for the first impression a prospective buyer gets. Clean out your house carefully. Old furniture should be removed. If you no longer live in the property yourself, it is best to hire a company to do the complete clearing out.

Documents and contracts

Make a list of the necessary tasks before the house sale. This will give you an overview of the things that need to be done to ensure a smooth sale. This includes the following points in the first instance:

1. Floor plans
2. Site plan
3. Extract from the land register
4. Fire insurance certificate
5. An overview of the service charges
6. Listing of all renovation work
7. Photos
8. The current energy certificate
9. The specification of the living space
10. Any existing rental agreements
11. If there are several owners, the indication of the ownership structure
12. A detailed description of the object

Floor plan and site plan

The floor plan shows the individual floors as well as a section through the floors of the house. The floor plan indicates how the house fits into its surroundings and which additional buildings are connected to the main house. These include garages or garden sheds and tool sheds. Before the sale, one should obtain an up-to-date extract from the land register and read through the existing entries thoroughly. Fire insurance is a mandatory document for real estate in Germany. For the buyer it can also be helpful for financing. In this case, the incidental costs include the operating costs such as water, electricity or gas.

Heating system

The type of heating is also decisive. Is it an oil-fired system, an electric heating system or a solid fuel firing system?

Different types of heating also cause different running costs. When listing the recent renovations, you should list everything that has recently been renovated or repaired. This includes mainly sanitary facilities or installations. The building description is optional. If it is still available, please add it to the sales documentation.

The living space calculation could already be available at your financing bank. You must obtain the energy pass and the pictures or have them obtained. An appropriately designed exposé belongs to the object description. For all these matters it is advantageous to consult an estate agent.

• Heating system

Down payment

There are two options for the down payment. One is made before the notarization and one after. However, a house sale is only legally effective when the notarial act is completed.
The buyer could ask for a refund of the deposit paid. A down payment after notarization can be considered in certain cases. If you sell your house and need to live in it for a while, a deposit can be paid in this case. This gives you time and money to prepare your own move. Even if the buyer wants to do some renovation work before moving into the new house, he can ask for a down payment. This gives him the right to do the work in the house.

However, moving in is only allowed after the purchase price has been paid in full.

Rental agreements

A house sale is more difficult and complex even if tenants live in it. Of course, the sale also changes the ownership structure. In principle it applies that a sales contract cannot break the existing renting relations.

In some cases, tenants have a right of first refusal, if this is provided for in the lease. When the house is sold, these tenants must therefore first be informed of this intention. However, a termination of the lease should be considered as a last resort. Terminations are justified if a tenant causes problems. This is usually the case when rent arrears accumulate. In addition, there are a number of points to consider when terminating leases. These are:

• Cancel the tenant for own needs
• Terminate the tenant for economic exploitation
• Termination due to renovation or demolition
• Termination due to serious misconduct of the tenant

An own use termination is possible if the owner wants to move into the rented apartment himself or if his close relatives need this property. However, this personal use can also be reviewed by the tenant in court. The own need must be justified therefore exactly. An advanced own use justifies claims for damages of the tenant. An economic utilization is also present in the case of a sale.

Delay due to existing rental agreements

An existing lease agreement could delay or even prevent a sale. However, this sale must be effectively justified by the owner. You must therefore prove why you absolutely want to sell the property. A termination due to renovation or demolition work must also be justified. This can be the case if the property has to undergo urgent renovation work due to building regulations. Serious tenant misconduct exists if there are constant rent arrears, noise pollution or disturbance of the peace of the house. Then you can easily give notice to the tenant.

The 8 biggest faults

You should pay attention to this – The decision to sell a house is not easy for many, but once it is made, there are 1000 questions at once.

You are inexperienced and not familiar with selling houses, the paperwork and the effort. Often, careless mistakes are made at this point and the topic of selling a house turns out to be a nightmare.

To prevent this scenario, there are some mistakes that you can directly avoid and thus save yourself a lot of stress. Most house sellers are rather inexperienced in this field and do not know where to start. Often a few pictures are taken and put on a real estate portal. However, the homeowners do not know what to expect, what you have to consider and what all is in store for you.

To avoid this uncertainty, the most important thing before selling a house is to inform and seek help from experts in the field.

Broker is directly excluded

Of course, it is also possible to successfuly complete a real estate sale without an estate agent. So before you decide for or against an estate agent, think about what makes the most sense for you in your situation. An estate agent can save you a lot of work and time when selling a property. He also advises you in financial and marketing matters.

So ask yourself the questions:

1. Do I have the time to organize, accompany and complete the entire house sale on my own?
2. Is my level of knowledge and my professional competence really sufficient to successfuly complete the sale without an agent?
3. Can I coordinate the sale alone on the fast moving, regional and targeted real estate market?

You should be aware that a property sale requires a lot of time, organization and expertise. An estate agent will receive a commission for a successful sale, but this can be recorded in an estate agent contract. In addition, the real estate agent will take care of all the work for you, such as the correct advertising of the property, arranging and conducting viewing appointments, the preparation of sales contracts and the presence at the notary appointment. So you have permanently someone competent with sufficient expertise at your side who can advise you in all questions.

Wrong time

The timing of the property sale is directly related to the selling price. So to get the best selling price, there are a few things you should consider. First, you should keep an eye on the property prices in your area for some time before the sale. These also fluctuate and show certain trends. Offer your house at the right time in order not to go down in the competition. But you should also keep an eye on the interest rates. This is the only way to ensure that you sell your house at the best price.

The right time is also important to consider the tax, because there is a so-called speculation tax. This means that the tax expires after ten years on the property. So you will not pay taxes from 2018 on a property you bought before 2008. So it makes sense to sell the property after the ten year period in order to make more profit. It is therefore advisable to keep important legislation and cost aspects of the real estate market in mind in order to achieve the best selling price.

Unprepared for viewing appointments

Potential buyers, are faced with the decision to make a large investment or not. So they want to play it safe and be 100% sure in their decision. So that you conclude the house sale successfuly, you should give potential buyers as much security as possible.

With an inspection date you should be prepared for many questions of the buyers and have a good answer to all of them. Often it is about the condition of the house – how old are the windows / doors? When was the last time renovated and refurbished? What kind of insulation is available? How high are the additional costs? and and and and – be prepared for all these questions and get detailed information about your house right from the start.

Ignorance can unsettle potential buyers or be an excuse to lower the price. Also be open towards appraisers and understand that their buyers only want to play it safe.

Market value is unknown

Every homeowner still knows how much he paid for his house and how much renovation, refurbishment etc. cost. However, it often happens that the value of the property differs from the original purchase price, as property prices are determined by supply and demand. So before you put your property up for sale, you should know the value of this knowledge.

You can have the property value estimated by an appraiser or an estate agent and thus know better what range you can move in the price.

Small defects in the house can reduce the value of the property and be a reason for potential buyers to lower the purchase price. So before selling, consider whether you can have small defects repaired beforehand and thus demand a higher sales price. However, experts or real estate agents can also help you with this decision and estimate whether such an investment is worthwhile.

You are not willing to negotiate

As a seller, you naturally want to sell your property as profitably as possible. However, you are faced with a buyer who is the happiest at the end of the day to make a profit.

Don’t spoil your chances of buying a house by not being willing to negotiate, but meet your buyer. There is only one thing that helps in negotiations and that is good preparation.

You should consider from the outset in which framework you can move and what is the absolute minimum for you. You should also have good arguments to justify your selling price. This includes, for example, a good infrastructure, the location of the house or special advantages of your property. An experienced real estate agent can also help you to prepare for a successful negotiation or even support you on site. Stubbornness can be a major hindrance and can unnecessarily prolong negotiations.

Get together and find a price that both parties are happy with.

Wrong / too few interested parties

Each property is particularly interesting for a certain group of buyers. On the one hand, this is due to the different characteristics of real estate, such as size, location and room layout, but also to the price range in which you move. S

hey must be aware that your property only appeals to a certain group of interested parties. In order to spread your offer as widely as possible and thus reach as many of your interest group as possible, you should publish your expose on many different platforms. These include, for example, real estate portals, newspaper ads, but also social media. Thus you have a larger range and attract more prospective buyers.

Exposé gives wrong impression

The exposé is one of the most important factors in the successful sale of your property. The exposé is the first thing a potential customer sees and should therefore make the perfect first impression.

A bad exposé can ruin even the most beautiful house. What you should definitely pay attention to are good pictures. It helps to have them taken by a photographer, but also self-made pictures can look great. Note that the pictures are taken in daylight and the room is easy to see. In addition, it should be tidy and clean so that the potential buyer immediately feels comfortable and can imagine living there. Take pictures of all rooms and preferably also the floor plan, so that the buyer can get a clear picture of the property. Also pictures of the garden or special features of the house are good.

In the text of your exposé, be honest in any case. Do not give the customer false hopes or exaggerate, because this will only lead to disappointment at the viewing appointment.

Purchase contract not properly checked

The sales contract and the appointment with the notary are the last steps on the way to a successful house sale.

At the notary’s appointment the purchase contract is read out again by the notary and both parties sign it. After this appointment the contract is legally binding and the sale is completed.
If you are unsure, consult a real estate agent in advance who will go through the contract and advise you. You can always make inquiries on the notary appointment itself, but the notary will not advise you. He is only responsible for ensuring that the contract is legally correct.

So to be absolutely sure that there are no hidden uncertainties, it is better to have the contract checked in advance.

Help! 10 broker tips for the sale

All you need to keep in mind – the kids are out of the house and it has become too big and too much work for you?

Maybe you can no longer afford to keep the house financially or you just want to move to another place. All these are reasons to sell your property, but such a sale is not an easy matter and should be well planned and organized. So that you don’t forget anything and are prepared for all eventualities, we have summarized the top 10 tips for selling your property.

Calculate the sales value realistically

The prices for real estate are very different in Germany. This depends above all on the location and size of the property. In rural areas, for example, prices are much lower than directly in a large city. So the best thing to do is to find out about the square meter prices in your area and compare them with prices for similar properties. In case of doubt, consult a consultant who will examine your house and estimate the value for you.

With a broker you have even the least effort. He takes care of the sale of the house from front to back, makes appointments for viewing and arranges the formalities. The real estate agent can, for example, make viewing appointments even when you don’t have time, because this saves you time and your property has a higher chance of being sold quickly. In addition, an estate agent has more expert knowledge than you and can also answer potential buyers’ questions about building fabric, location or technology.

Look at the costs very closely

As a real estate owner you have to consider many things. These include, above all, tax and cost issues. A tenement owner, for example, must pay tax on the profit from the sale of the property if he has owned it for less than ten years. In addition, the ancillary costs of purchase are waiting for him. For owner-occupiers the sale is tax-free, but here too guidelines must be observed and the credit checked. It is best to contact the bank and get direct advice from them.

Be positive towards appraisers

They must be able to understand the thoughts of potential buyers, because they are making a big investment and of course want to make sure that everything is right. Therefore prospective customers often consult experts, who are to take the house under the magnifying glass. Do not be intimidated or threatened by this, although the appraiser comes to your house, he only wants to determine neutrally whether everything is in order. So be open towards appraisers and do not close yourself off, because they would certainly want to do the same as buyers.

Clean out your house

A house in good condition has more chances of being sold quickly than one with many faults. It helps to put in already once a thorough cleaning day, before prospective customers come to the inspection, and naturally the house to clean up. In addition, a small more deeply going Aufhübschprogramm cannot damage, in addition belong small things, like for example the squeaking door to oils or the weeds in the driveway times again most thoroughly to dispose. Nowadays there are even experts who prepare a house specifically for sale.

Show your property in the best light

One of the most important tips to get your property well sold is to take great pictures of it. Good and many photos show the potential buyers your house in the best light and they can make the first impression, because it counts most. Take the pictures in daylight and make sure that all details and the advantages of the house are clearly visible. You can get a professional photographer to help you or try it on your own. It is also often a good idea to take pictures of the property furnished to give buyers a direct insight into what your new home could look like.
This can be more difficult if you are still living in the property, but you should place a container in front of the house in time and get rid of unnecessary ballast. Clean out the cellar, attic, garage and storage rooms and throw away everything that wastes space. But also make sure that there is enough space in the living rooms by storing decorations – like pictures – in boxes. The bedrooms in particular should be nice and airy and have as few private things as possible. The potential buyer should not feel like visiting you, but should be able to directly imagine the new furnishings.

Look at your house from the outside

The first impression is most important and that is what interested parties get from the outside. Before an inspection appointment is due, you should look at your house again from the outside and evaluate it as neutrally as possible. Try to arrange the front garden and the front door as beautiful as possible to leave a cultivated impression. This includes, for example, clearing the children’s toys out of the driveway, sweeping leaves or simply attaching a beautiful wreath to the front door.

Check the solvency of your buyer

You should definitely check the solvency of a potential buyer, because you don’t want to experience unpleasant surprises after the sale of the house. For this purpose, you can ask the buyer to provide a self-disclosure. But a credit check can also give you an insight into whether the buyer could be risky for you. It is best if your buyer can show you the bank’s financing commitment that he has obtained a bank loan to purchase the house. This way you can be very sure that the buyer will not give you any unpleasant surprises.

Keep important documents ready

If you are going to sell your property yourself, you should have all the important documents ready. This is important for a quick and uncomplicated sale. One of the most important documents:

• Official field map
• Extract from the land register
• Floor plans / building plan
• Calculation of living space
• Calculation of the converted space
• Energy Performance Certificate
• Building contract
• Proofs about monument protection regulations
• Leasehold contracts

… for rented properties:

• Copies of rental agreements and proof of rental income
• Settlements of operating costs for the past 3 years
• List of modernizations / renovations
• Handicraft invoices for all major repairs and conversions
• Guarantee certificates
• Invoices and operating instructions for installations such as heating, fireplace or kitchen and of course the maintenance certificates

Individual living: Sales factor own home (negotiation)

The term single-family home is initially used to describe a property inhabited by people with family ties. Unlike a rented or owner-occupied apartment, there are no areas in a single-family house that are shared with other people. An exception are single-family houses with granny apartments. This is a self-contained apartment within the single-family house, which has its own entrance, kitchen and bathroom. However, these apartments are often occupied by family members such as the owner’s parents or children.
This is especially true for detached single-family homes. This form of living is very individual. It offers much space and a large garden. However, the detached single-family home is also the most expensive form of living. The prices for the properties are higher than if you decide to buy an apartment.

Double and row houses

As an alternative to the detached single-family house, there are semi-detached and terraced houses. These forms of living are very popular, especially on the outskirts of large cities and in structurally strong regions. The plots of land are somewhat smaller because they are divided among several parties. The living space is also somewhat smaller. Nevertheless, semi-detached and terraced houses have the advantage over apartments that the building is inhabited alone. Corridors, cellars and entrance areas do not have to be shared with other people.

Individual living: Sales factor

Single-family homes are also considered a very individual form of living. This is especially true if the single-family home is designed by an architect based on the ideas of the future owner. The possibilities of the organization can be realized just as individually with the single family house as the size and the use of the building materials. In addition to the classic variants made of stone and concrete, wood or large-area glazing is used.

Completed real estate: Move in immediately

Very popular are detached houses, which are sold as a completed property. Since the construction of a house requires lengthy planning and costs a lot of time and energy, many customers who would like to live in a single-family house decide to buy one.
The value of the property depends on many different factors and is determined before the sale sometimes quite elaborately. Ultimately, however, the law of supply and demand regulates the determination of the purchase price. This means that in practice you can get more money for a single-family home in need of renovation, which is in a very good location, than for a new property without the need for renovation.

In addition to the detached single-family home, there are semi-detached houses and terraced houses which are cheaper to build or buy, but still enjoy great popularity.

Free-standing single-family house

The free-standing single-family house is characterized by four exterior walls. It is located at some distance from the neighbor and is therefore the form of living with the greatest freedom and individuality. This is especially true if the single-family home is located on a large plot of land and there is no neighbor within sight or hearing distance.

Free-standing single-family homes achieve very high prices when selling real estate compared to other forms of living. This is not only due to the individuality of the form of living. The detached single-family home offers many possibilities to realize your own wishes and ideas of living. This is especially true when the house is owned by the resident.

The detached single-family houses can be divided according to their construction. If you want to sell a detached single-family house, the type of construction has an influence on the pricing. As a rule, you can charge a higher purchase price for an architect’s house than for a prefabricated house.

Architectural house

When building an architect’s house you can best realize your individual ideas. Put your ideas on paper and then commission an architect with a design. You can determine almost all components of the house yourself. Choose the living space, number of rooms, roof design and building materials. The house will be built according to your specifications. The cost of an architect’s house can be twice as high as for a prefabricated house that you choose from the catalog. However, for this you have implemented your individual ideas exactly.

Solid house from the catalog

There are a large number of companies on the market that specialize in the development and marketing of single-family homes. You can choose a model and in many cases make individual adjustments. However, the size of the living space and the load-bearing walls are fixed and cannot be changed.
The solid construction can be realized in different variants. A high quality is achieved with the traditional stone-on-stone construction method. Alternatively, finished concrete elements are used. These can reduce the construction time to a few weeks.

• Solid house

Lightweight single-family houses

Lightweight construction is considered the cheapest and fastest way to build a single-family home. The houses are available in many different variants, and the prices are very reasonable in comparison with the other types of houses. The builder-owner celebrates the topping-out ceremony after only a few days. Lightweight houses have a service life of up to 100 years and their floor plan cannot be changed afterwards.

Free standing houses with granny flat

Detached family homes can be equipped with a granny apartment. These houses have a larger floor space. The granny annexe is already planned during the construction phase. A subsequent integration of the granny annexe is possible if the house has sufficient floor space.

Granny apartments can be planned in the attic, in the basement or on a gable side. It is important that they are self-contained. Both parties live alone and are not dependent on the premises of the other party.

Many granny apartments have their own entrance. This is a necessary feature especially if the granny apartment is to be rented out. Alternatively, the granny apartment can be reached via a separate entrance and stairs or another door.

The living space of a detached single-family home can vary considerably. Small single-storey single-family homes in bungalow construction start with living spaces of 80 to 100 square meters. The average living space is between 120 and 160 square meters. Architectural houses commissioned by wealthy customers can have living spaces of several hundred square meters. House companies offer their models with living spaces of up to 250 square meters.

Double houses

A semi-detached house will be built on a plot of land. The owner acquires a co-ownership share in the property. Alternatively, the property is divided.

The two halves of a semi-detached house are identical in construction. Often the living spaces are arranged mirror-inverted. The average living space is between 100 and 160 square meters.

Semi-detached houses are often equipped with a cellar and have a roof shape under which the attic can be developed. In this way it is possible to extend the living space.

The advantage over the terraced house is that there is a gable side and the garden cannot be reached only through the living room, as is the case with mid-terraced houses. There is also a larger garden, and a garage or carport can be built more easily.

The construction costs and the cost of the plot are significantly lower. However, it must be taken into account that the neighbors live next to each other within hearing distance in a semi-detached house. This is especially true for balconies and terraces, which in a semi-detached house are usually directly next to each other.

• Double house

Terraced houses

Terraced houses are identical to semi-detached houses in terms of their construction. The property is divided among the co-owners or newly surveyed. This reduces the construction costs for house and plot. The architecture of the terraced houses, which are built together, do not differ from each other. Here, too, the outbuildings are often mirror-inverted because this gives a more attractive appearance.

In addition to the problem of proximity to the neighbors, the row house is also affected by the poor accessibility of the garden in the middle houses. The path leads through the living room or, if possible, around the entire row of houses. In addition, the middle houses have two neighbors within hearing distance.

Basement or utility room

The heating system, the boiler for the hot water preparation and all connections necessary for the supply of the house can be installed in the cellar or in the utility room. The cellar has several advantages. It increases the available living space and offers many possibilities for individual use. These include the extension of the living space or the creation of a room for the practice of hobbies. The cellar can be equipped with its own access and offer storage space for bicycles or garden tools. It is also possible to furnish an office.

A room in the basement is regularly reserved for housekeeping. Thus the cellar offers many advantages. The disadvantage is the high cost of building a cellar. Very large houses can also have a partial basement. Nevertheless, the additional costs compared to a basement slab are usually in the five-digit range.

If a cellar is not built, a room on the first floor must be set up for all connections and the installation of the heating system. This is a disadvantage, since less living space is available. On the other hand, the costs for building the house are not as high.

When reselling, the cellar always increases the value of a house. If you, as a builder-owner, decide to build a cellar, this is definitely considered a worthwhile financial investment.

Garage, carport and outbuilding

Single-family houses are often extended by a carport or a garage for parking the vehicles. The outbuildings can be extended with rooms for garden tools or bicycles. Older single-family houses are often connected to outbuildings that were used as utility rooms in earlier times. These buildings often have a very good solid structure and can be used in many different ways. They increase the value of the property when sold, especially if they are in a good or very good refurbished condition.

• Carport

Garden: Nature and recreation in your own home

Each family home has a garden attached to it, which can be very different in size. Older houses often have very large gardens. The reason for this is that the owners were self-catering and grew their own fruit and vegetables in the garden. With newer properties, the gardens are smaller and easier to maintain. This is due to a change in living structures.

Many owners of owner-occupied homes are involved in their work and have to accept further distances than before. A garden, which is very labor-intensive, is no longer desired. Small and low-maintenance gardens serve for recreation and relaxation. They are laid out with lawns or evergreen plants. The areas where fruit and vegetables are grown are much smaller than in earlier times.

In the context of real estate sales, a garden has a value-enhancing effect above all when it is very well maintained and at the same time easy to maintain. The size of the garden should be between 600 and 1,500 square meters if a value-enhancing component is to be achieved.

Sell inherited house

In most cases, the heirs decide on the inheritance. Even if the property is located far from the heir’s place of residence. But in exactly this situation the question arises what to do with the property. If neither inhabiting nor renting the house is an option, the most common consideration is to sell the inherited house.

After a house is inherited, the first step for the heir is to go to the local court. There the certificate of inheritance can be requested. This measure should also be taken if the heir is only claiming the compulsory portion. The certificate of inheritance identifies the heir as the rightful owner of the property.

The certificate of inheritance is issued by the probate court. The competent probate court is always the district court of the last residence under which the deceased was registered.

At the appointment at the probate court, the heir must prove his claim to the inheritance. This can be done through the public will, the inheritance contract or by proving the relationship with the accompanying legal succession.

• Read on: Inherited house for sale

Sell house after divorce

Those who choose to marry and be married, in most cases, have the intention to spend their life with their spouse forever and share everything that belongs to them. Nobody thinks during a marriage about the fact that there might be a divorce one day and that there might even be arguments about belongings. But in 2017 the divorce rate in Germany was over 36 percent, which shows that unfortunately not all marriages last forever. Often fraud, daily life including routine or even financial problems are the reasons for divorce.

• Selling property in case of divorce

Increase in value through conversion ?

An old property can be put to new use by a house conversion. Small rooms can be merged. Alternatively new rooms can be created. By extending the attic or the basement even new square meters can be gained. This opens up many possibilities for the current residents of the house, but can sometimes also be useful if you want to sell your house. Especially for old buildings with small rooms, a conversion can work wonders and attract more buyers. However, conversions involve a lot of effort and a high financial outlay. You should therefore only use it to increase the value of your property if your chances on the real estate market improve noticeably as a result.

• Selling a house and increasing its value

Der Beitrag Sell your House: Without a realtor?! Documents, taxes & costs – what to consider? erschien zuerst auf ℄ Real Estates.

Sale of apartment explained: Initial situation

Before we get step by step deeper into the subject “selling an apartment”, first a value factor you surely know: “location, location, location”.

In all areas, the location of the property is what counts most, not only when selling your condominium. Regardless of whether you are selling your land, selling your house or even selling your apartment building, the location is a central valuation factor for the selling price of your property. Selling privately or “free of charge” and without an estate agent bears risks and makes the sale as well as the entire transaction (valuation up to notary and contract of sale) prone to mistakes. Selling real estate needs a good network of buyers, often real estate is not presented publicly, but only internally as off market property.

Situation, location and reason for sale: Basics

No matter what reason motivates you to sell: a fast processing and a sales price according to your requirements are essential. Is the condominium in a sought-after location where there is a shortage of apartments and buyers are already looking for an apartment in advertisements? Then the chances for a sale from private are very good. Nevertheless, you should be aware of the complexity of the matter and act professionally from the first moment on.

Foreword – Free tips? Yes!

All my tips in this guide are free of charge for you. As real estate agents we arrange real estates starting from 1 million euro Verkerhswert, free-hold apartment under the category luxury real estates. We give you here gladly Tipps and cheat for your sales, free of charge, in detail and step by step explained. Please also pay attention to our links, here you will find more detailed information on the individual topics. Should you wish to sell your property with us: Do you know what our unbeatable advantage is? We independently reach more than 250,000 readers per month, which means 3 million people per year. We are independent from common real estate portals and reach a solvent, special target group. In addition, we offer internal buyer groups and investors in our Off Market area, to whom you have no access via usual offers. Read more here: Real Estate Agents.

Move, divorce, separation or liquidity

There can be different reasons for selling a condominium. You have bought the apartment as a capital investment and are forced to part with the condominium due to a financial shortage? Or have you lived in the apartment yourself and are moving to another city for professional or personal reasons? No matter what reason motivates you to sell: A quick settlement and a sales price according to your ideas are certainly important to you.

If you have a very emotional attachment to the apartment, for example because you are selling it as a result of a divorce or after another drastic experience, you should carefully consider selling it privately. With emotional ties, a realistic valuation is difficult and you will face problems at the latest when it comes to negotiations about the purchase price.

Emotive bond vs. realistic valuation

When selling an apartment you should be aware of the complexity of the matter and act professionally from the first moment. If you have a very emotional attachment to the apartment, for example because you are selling it as a result of a divorce or after another drastic experience, you should carefully consider selling it privately.

With emotional ties the realistic evaluation of condition, location, furnishings etc. is much more difficult and you will face problems at the latest when it comes to negotiations about the purchase price. New owners do not pay the ideal value of the condominium, but the real value from their perspective (and also the market conditions). So even at this early stage of the sales process, the first pitfalls for the seller are waiting.

Flow: Sell apartment in fast forward

The emotional bond just described, a realistic purchase price, negotiations, all these are reasons why real estate agents are commissioned. And, just think of the many viewing appointments, the negotiations with potential property buyers or investors and the credit checks that have to be carried out in advance.

Checklist: Owner questions before the sale

Long before the sale of your condominium, you still have to take precautions. One of the most important questions is certainly whether you already have a (secure) follow-up property in prospect. The renovation of apartments, especially the renovation of old buildings, can increase the value of your condominium before the sale. While we are on the subject of renovation and existing buildings, you have already gathered all the necessary documents, such as floor plan, extract from the land register, floor plans and energy performance certificate. Here is a quick overview of the most important questions before you start selling your apartment.

9 questions that you as the owner must ask yourself before the sale:

1. Do you have a connecting property in prospect ?
2. Is there a renovation / renovation needs of the apartment ?
3. Are all documents and papers available?
4. Are early repayment fees to be paid ?
5. Are partition deed, building insurance, minutes of owners’ meeting, housekeeping bills, list of rents, etc. available?
6. Are there any statements about the maintenance of the condominium (maintenance costs) ?
7. Do you want to sell inventory?
8. Is there a right of first refusal?
9. Value of the apartment?

Checklist: Time expenditure, dates, creditworthiness and viewing

Then it goes only really into the matter in the apartment sale. Here it concerns in particular experience in the real estate trade, in order to avoid risks and mistakes with the housing sales in the apron. Actively it concerns in addition the marketing of the real estate. The correct platform must be found or also not, keyword off market real estates. In addition there is the time planning for the sales, from preparation over advertisement, answering of inquiries, date arrangement for inspection, examination of the credit-worthiness of the prospective customer, negotiations, sales contract, taxes and much more besides.

8 simple steps for selling a property:

1. How well do you know about the sale of apartments?
2. Have you already sold a condominium?
3. Can you create a meaningful exposé?
4. How do you assess your negotiating skills?
5. Would you like to let any unknown person into your property?
6. Do you want everyone to know about your sales intentions?
   Tip: Off Market Real Estate
7. Are you prepared to deal with the legal requirements necessary for the sale?
8. Are you willing to take on the work and time involved in marketing your condominium?

Value apartment: Calculate purchase price

There are many questions to be answered, the best answer is an expert at your side for real estate valuation. Property valuation – You have a condominium and want to know what it is worth? Of course you can immediately go to an appraiser and/or real estate agent with this question.

However, the exact valuation becomes important at the latest when you want to sell or bequeath the apartment. Even in the case of a mortgage – for example if you want to buy another property – the value should be determined very precisely. That is when the expert comes into play.

• Rate the apartment

What influences the value of an apartment?

But let’s stick to the so-called “Pi times thumb value”, a very rough value determination. In order to determine the value of your apartment, a number of “soft” factors play a role.

Before we get deeper into the matter of evaluation of location, building fabric, market value & Co., we first ask 3 basic questions which reach us in consulting discussions with customers:

• How can I value a property?
• Who determines the market value of a property?
• How does the bank value a property?

Location, location, location: value enhancement and sales argument

This refers to all those things that you can see but cannot immediately translate into money or other value. First and foremost, this means, for example, the so-called micro and macro location of the apartment, i.e. the view of the immediate and regional surroundings. Whether your apartment is located on a busy street or in a quiet suburb, whether the surroundings of your apartment are rather middle-class or socially disadvantaged – all these “soft” conditions influence the value of your apartment.

Always in demand: the city center.

Planning and preparation of the sale

When planning the sale of a condominium, there are some special features to consider.

Documents and additions

In addition to the classic documents (land register entry, floor plan, etc.), in which the apartment does not differ from the home, other documents and evidence are required. This is especially true if it is a community of owners or a rented condominium as a capital investment.
owners’ association or a rented out condominium as a capital investment>/block quota>
When planning the sale of a condominium, there are some special features that must be taken into account. In addition to the classic documents, in which the apartment is not different from the owner-occupied home, other documents and proofs are required. This is the case if it is a community of owners or a rented condominium as a capital investment.

Ownership, residual redemption and taxes

One of the important documents to be organized in any case is the extract from the land register, which gives clarity about your ownership. However, if you still pay off the apartment and the bank is in the land register, you should reach an agreement before the planned sale and discuss the remaining repayment in detail. A floor plan is mandatory and also the proof of fire insurance, the building description and the energy certificate must be obtained.

Extract from the land register to floor plan

One of the important documents to be organized in any case is the extract from the land register, which gives clarity about your ownership. However, if you still pay off the apartment and the bank is in the land register, you should reach an agreement before the planned sale and discuss the remaining repayment in detail.

A floor plan is mandatory and also the proof of fire insurance, the building description and the energy certificate must be obtained. If you hire a real estate agent to sell the apartment, you can insist on the commission payment by the buyer according to the law. In the case of a rental, you as the owner bear the costs, which makes it easier to decide between selling the condominium and renting it out.

Trap: Financial loss by waiving tax savings

Even with private sales you cannot do without external professional support. As a rule, you will need a lawyer or notary public to draw up and execute the purchase contract.

A tax advisor can be useful if you have rented out your condominium so far and now want to know about the changes in tax revenue. Since an objective market value assessment is also recommended for the sale, you will also need a surveyor or expert. All these services are subject to costs – your costs!

The bottom line is that the costs for individually commissioned services for the sale of the condominium are higher than if you cooperate directly with an estate agent and decide for all services from one source. Plan the sale of your condominium advantageously and calculate how you can save money, spend the least amount of time and do not have to go to a different contact point for each service.

Remember: the estate agent only costs money when the purchase is perfect. And it is usually the buyer who pays!

Who pays the brokerage fees?

If you hire an estate agent to sell the property, you can insist on the buyer’s commission payment according to the law. In the case of a rental, you as the owner bear the costs, which makes it easier to decide between selling the condominium and renting it out.

Owner parties and new owners

If you sell an apartment in your own property, this problem is not an issue. However, in the case of properties managed by third parties or belonging to several owners, the German Condominium Act stipulates that all parties to the ownership must agree to your sale and the new owner.

Surely, you will first ask yourself why the owners of other apartments have a say in your sale. The legislator provides for it this way, since every condominium has, in addition to the private areas, various jointly managed rooms and areas.

Multiple owners ?

Years ago you purchased a condominium in a property managed by several owners. Or is a property manager the contact person with whom you communicated at the time of purchase and who decided on the approval? Then the sale of the condominium can pose greater challenges.

Sale in communities of owners

A private sale can turn out to be a complex, almost unsolvable task. On the other hand, the sale of the condominium through a local broker who is familiar with condominium communities and has many years of experience in selling apartments in managed investments.

Owners’ meeting

A clarification of the ownership structure is also necessary if you sell an apartment in a property owned by a community of heirs. Wherever you are not listed in the land register as the sole owner of the entire complex, special considerations must be taken into account when selling an apartment. In most cases, a meeting at the owners’ meeting can be helpful and inform you to what extent the other owners understand your intention to sell and accept a new owner. You cannot ignore plausible reasons for refusal, but should seek a mutually acceptable solution with a real estate agency and the owners’ association.

Yes, you can:

What to do if the manager does not agree to the apartment sale?

As a real estate agent with expertise and know-how in the sale of condominiums, we can reassure you on this point. A general refusal of the sale is usually not possible, so that you can sell your apartment.

New owners: refusal, solvency and reasons for refusal

Fundamental aspects for a rejection refer only to the new owner you propose and present at an owners’ meeting. If there are justified doubts about the solvency of a potential new owner exceeding the purchase price, the rejection is justified and must be accepted by you.

Another reason for refusal of approval relates to the use plans of the property. For example, if the potential buyer foresees a commercial use of the condominium and this is contrary to the community order, the administrator, the community of owners or the community of heirs can also refuse.

Reasons for refusal:

• Doubts about solvency – Reading tip: Credit check
• Utilization plans of the property

Mistakes & Avoid risks ?

If you want to sell your condominium and avoid these pitfalls from the beginning, contact a real estate agency directly. Real estate agents are contact persons with expertise who check prospective buyers’ creditworthiness before making a recommendation at the owners’ meeting.

In a personal conversation with the prospective buyers they find out the intention to use the property and can also exclude this reason for rejection in advance.

The recommendations made to you by real estate agents are based on the knowledge they have gained about the residential complex, the community regulations and the claims of the other owners.

With an estate agent’s service you exclude long negotiations and rejected buyers, so that you can have a purchase contract for the condominium drawn up promptly and arrange for the handover.

Checklist – Documents for the sale of the apartment

The following documents should already be available before placing a real estate ad. The energy document of identification is obligation. We will also be happy to help you with the other documents.

Tip! Put together a file for the sale of your apartment, which contains all the important documents. At the viewing appointment, you can not only answer questions competently, but also provide the information with certificates and official proofs.

Floor plan

This plan shows the area of the condominium, together with the square meters of the balcony, apartment and adjoining rooms. The layout of the rooms is also shown in the floor plan.

• Floor plan

Declaration of division

This is a notarial deed that the buyer must receive before the sale of the apartment, because it is the basis for the notarial contract. The declaration of partition regulates the internal relationship of the apartment owner.

• Declaration of division

Extract from land register

You can obtain a current and complete extract from the land registry. Read the excerpt thoroughly to be familiar with the legal details of the apartment, house and land. Certificate of fire insurance: This is often requested by the buyer, which is basically needed to finance the apartment. Fire insurance is mandatory in Germany.

• Extract from the land register

Owners meeting minutes

The last 3 protocols are generally sufficient. You can also request them from the property management. The owner protocols give the buyer further information about the resolutions and plans of the owners’ association. Housing allowance statement / economic plan / reserves: The last housing allowance statement, shows how the housing allowance expenses are composed monthly, how much is saved in the year and much more.

• Minutes of the owners’ meeting

Building description

If there is still a building description from the construction period of the house, then it can be presented to the buyer during the market price determination and as information.

Energy certificate

Usually you will receive the energy pass from the property management. For the sale of the apartment, this energy certificate is mandatory.

• Energy Performance Certificate

Valuation for condominiums

In new buildings, but also in old buildings, the market value is the basis for the sale of a condominium. The analyses are more comprehensive than for a home that is built on its own land.

The size of the apartment and its furnishings, but also factors affecting the entire property are taken into account when determining the asking price. These include, for example, the condition of the communal facilities, the number of residential units in the house and the ownership structure of the other apartments.

Comparison prices are also determined by these other apartments and compared to your property. Because a too high purchase price extends the selling time noticeably, a too low price brings you painful losses.

Sales price too low ?

A price that is set too low leads to displeasure in the owners’ meeting and causes high losses for you. You should not use the purchase price you have already paid as a basis for your current calculation. As a rule, the value of the property has risen, as has the demand for condominiums, so that you can achieve an attractive return on the sale.

A professional valuation will tell you how much money you are asking for the condominium and what room for negotiation you can allow. In the case of urgent sales, it is worthwhile if you allow a little leeway downwards and give us the opportunity to negotiate. We take the market value as a basis, determine comparative prices with market analyses and make sure that you achieve the desired sales price for your condominium with Lukinski.

Square meter prices for condominiums in German cities

Here you can see the cities with the highest prices per square meter for condominiums in a comparison of 2010 and 2018* (in euros per square meter).

1. Munich (Bavaria) with 8,342 euros per square meter; from 6,737 euros per square meter in 2014; increase of 1,695 euros per square meter in 4 years
2. Stuttgart (Baden-Württemberg) with 5,925 euros per square meter; from 4744 euros per square meter in 2014; increase 1,181 euros per square meter
3. Frankfurt am Main (Hesse) with 6,060 euros per square meter; from 4,373 euros per square meter in 2014; increase 1,687 euros per square meter
4. Freiburg im Breisgau (Bavaria) with 4,943 euros per square meter; from 4,740 euros per square meter in 2014; increase 203 euros per square meter
5. Ingolstadt (Bavaria) with 4,969 euros per square meter; from 4,287 euros per square meter in 2014; increase 682 euros per square meter

You can find more statistics at Statista

What influences the value of an apartment?

But let’s stick to the so-called “Pi times thumb value”, a very rough value determination.
“Soft factors” for value determination</block ratio>
In order to determine the value of your home, a number of “soft” factors play a role. These are all those things that you can see but cannot directly translate into money or other values. First and foremost, this means, for example, the so-called micro and macro location of the apartment, i.e. the view of the immediate and regional surroundings. Whether your apartment is located on a busy street or in a quiet suburb, whether the surroundings of your apartment are rather middle-class or socially disadvantaged – all these “soft” conditions influence the value of your apartment.

“Hard factors” for determining the value

The “hard” factors of the micro-location include the proximity to doctors, public institutions or cultural sites. For here, the conditions can be measured at least in terms of distance and number of available facilities.

Basically, the following applies here:

The closer to public life, the more value these factors add

The proximity of your home to public transport is also – and certainly increasingly – a plus. After all, bus and train services are becoming increasingly important in urban and rural areas in the context of the climate debate. Certainly: the availability of your own parking spaces or even an underground car park also has a positive effect on the value of your apartment.

Do you know the crime rate in your residential environment? This is a real “mixed factor” of hard and soft in apartment valuation. On the one hand, this rate can be “hard” by means of figures, but on the other hand, the rate of a district does not necessarily apply to the immediate street situation of your property. Especially in this area there is a lot of “felt” security or insecurity.

Creditworthiness check or have it checked ?

Credit assessment is central to sales. And it is a complex and time-consuming task. As indicated in the point Special features and reasons for refusal, the solvency check of potential buyers requires the greatest care. A good credit rating and financial security for the apartment purchase are not sufficient for owner associations and managed condominium complexes.

Secure, high income and savings

A secure and high income, as well as savings have a positive effect on the decision and show the co-owners that the buyer is able to pay for any repairs and to contribute to the community costs of the plant.

Risk: credit assessment is complex

The examination of interested parties is complex and time-consuming. Since large sums of money are involved, the credit assessment for the purchase of a condominium, for example, requires insight into the score, i.e. the risk assessment of the potential contractual partner. The data must be read and evaluated professionally so that the risk is assessed transparently and truthfully.

As a real estate agency, we take on this task when you sell your house and forward documents from interested parties to you that meet the conditions of the owners’ association and are thus guaranteed not to be rejected. We also accompany you in the further sales process and are the interface between you and the buyer.

Disadvantage private sale: risks, emotional attachment and low purchase price

Due to the complexity of the apartment sale, a private transaction is only recommended if you already have experience and can overcome the hurdles ahead with know-how. Otherwise, the sale will be protracted, lead to rejections from potential buyers or generate losses due to a low purchase price. We screen potential buyers and offer you a comprehensive service when it comes to selling your condominium.

Ultimately, it is not just about placing an offer. The sale of an apartment brings with it many questions in the process. Basic information about the evaluation but also detailed ones:

• What documents do you need to sell an apartment? Tip: Later on we will have the checklist for documents!
• How much does a condominium cost?
• What is an administrator consent?
• What is special property? Also more specific questions like:
• What is special property and what is common property?
• Is a water pipe special property?
• Is balcony special property?
• And much more

Experts in the sale of residential property

Let’s draw a conclusion: Are you considering selling your owner-occupied or previously rented condominium? Then invest in the expertise of a nationwide real estate agency. You take over your order free of charge and then find a buyer promptly.

Our service portfolio includes the organization of all documents, communication with the other owners of the property or with the administration, as well as inspections and checks of prospective buyers. Selling condominiums costs a lot of time and nerves, as the expenses are far higher than selling a single-family home.

Protect yourself from pitfalls and financial losses

Protect yourself from pitfalls and financial losses by having us conduct a valuation and check the requirements for a new owner.

Advantages: security, time & selling price

1. Security – We take care of everything, from the free evaluation of your property to the credit check.
2. Time saving – Through regular customers and presence in the media Lukinski sells your property faster.
3. Good sales price – With knowledge of buyers and the market Lukinski achieves a good sales price for you.

Good times for condominiums

The prices on the housing market are very good. At present condominiums – also in rural locations in the Rhine-Main area – can be sold advantageously. We would be happy to tell you how the regional market is developing. For this purpose we will determine an optimal market value by comparing similar properties in comparable locations. Only then will you decide whether a sale of the apartment is desirable.

Comparison: Real estate prices

For comparison you will find here different real estate prices in Germany. Focused on the large conurbations of the individual federal states.

Real estate prices:

• Berlin
• Düsseldorf
• Frankfurt
• Cologne
• Hamburg
• Hanover
• Munich
• Stuttgart

Sale of apartments: No problem for professionals

Surely you have already noticed one thing: Don’t underestimate the effort and time required to sell real estate! Lack of experience and a too high or too low sales price can hinder the sale decisively. In just a few steps you can realistically estimate the chances of selling your condominium with us. Use our real estate evaluation for a quick online determination of the market value of your apartment.

Important when selling an apartment:

1. Use our service to achieve a good sales price.

Project development after the sale: 100% modernized and renovated.

Miskates of sale: Top 6

As you have already seen, the private sale of an apartment can be demanding. But worse are the risks and mistakes that can occur when selling privately. Mistakes that ultimately lead to a lower selling price and thus to direct financial losses for you as the seller. The most common mistakes made when selling an apartment:

Sale under time pressure, poor preparation

The effort and scope of the sale of an apartment are often underestimated. A frequent consequence is the time pressure that arises, which has a negative effect on the sales price. Mistakes in the preparation of the sale can have far-reaching consequences – not only financial ones. Finally, the buyer must also obtain financing from his bank with the information provided and documents presented. In case of insufficient preparation, the sales project can fail at any stage.

Tip: Leave nothing to chance. Take sufficient time for the preparation of your apartment sale.

Set the goals and plan the steps of the sale with foresight. Let our professional service support you in selling your apartment in a targeted and best possible way.

Estimate the selling price realistically

The value of the apartment must be determined exactly. The personal assessment of the owners often deviates far from this: The selling price is estimated too high or too low. In both cases, a financial loss is incurred and the buyer may not be able to finance the property. Our market-driven valuation is made up of various factors. In our valuation, we only consider properties that are comparable to yours. This concerns the type of property as well as the location and equipment. The determination of the purchase price is a very decisive aspect in the successful sale of an apartment.

Tip: Our procedure evaluates the sold objects in your region and thus determines a realistic and market-driven sales price. Do not give away money.

Incomplete documents

Obtaining and submitting documents for sale and apartment is required at every stage. Prospective buyers, authorities, offices and banks require documents or issue them. Compile all necessary documents as early as possible. Current land register excerpts are issued by the local court. Declarations of division of the housing estate are also important. The complete key data on the property, which can be found in construction plans, land register excerpts and site plans, will be requested by the serious interested party at the latest at the inspection date. If an energy pass or important documents are not available in good time, potential buyers may lose interest or the sale may fail at a later date – if, for example, the bank complains about missing documents or an excessively high purchase price.

Our valuation includes all information necessary to determine a fair market value. With the complete documents and a realistic statement about the property, the future buyer can also evaluate and complete all legal steps for the purchase.

Do not present your property below value

Today, real estate is sold online – no matter whether it is divorce, separation or inheritance. Interested parties search for suitable apartments in the social media and online databases of the Internet. Present your real estate in the best possible way and according to the target group.

Tip: Before the viewing appointment and even before the first photo session, the property for sale must appear well maintained and homely.

Don’t miss out on putting your property in top condition inside and out.

• Do not postpone repair work and maintenance any longer.
• Clear out and create a clear impression.
• Ensure cleanliness and a homely and appealing atmosphere.

The so-called “home staging” pays off. For this purpose, the property is prepared in such a way that potential buyers feel right at home and fall in love with the apartment. We are at your disposal with advice. Some tips for home staging:

• Remove personal belongings before the visit.
• Enhance the apartment visually and emotionally.

Photos: Daylight, open space and diversity

But the most important factor are probably the pictures. A buyer naturally wants to see as much of the property as possible to get an idea of whether the object could be something for him.

In order to take great pictures of your property, there are a few things you need to consider. First of all, the rooms should be tidy and clean. Nobody is attracted to pictures of a messy apartment, because potential buyers want to imagine living in the object when they look at the pictures.

You should definitely take the pictures in daylight, so that the rooms can be seen very well and the buyers can estimate how much daylight falls into the rooms. Your cover picture should be the most meaningful and represent the best of the apartment.

The most beautiful room, the roof terrace, the open kitchen or maybe the bay window with a view. The first picture should impress and make the prospective buyer want to see the apartment. Pictures of all rooms and if available the garden/balcony/terrace, an exterior view and above all a floor plan may not be missing in any case.

The floor plan should never be missing, since potential buyers can get an impression of the size of the individual rooms in relation to each other and can see the layout of the rooms better. A video is also possible, although it does not replace the viewing appointment, but gives the prospective buyer a good overview.

Photo tips at a glance:

• Clean and tidy rooms
• Daylight (speaks for bright rooms)
• First image should be the best photo
• Cover all rooms and surfaces
• Floor plan ground plan

Exposé creation

Pictures and texts sell your property. From the multitude of online offers, it should appeal to potential buyers – at first glance. For this, both the photos and the descriptions must appear professional and competent. We consider which group of buyers is interested in your apartment and design both the photos and the texts in the exposé accordingly.

Tip: Don’t underestimate the work of professionals when creating the sales exposé. We know the regional housing markets very well and know which furnishings and objects are in demand and which buyer groups specialize in them.

Prepared badly for the visit

Prospective buyers have important questions during viewing appointments. They need time to get a feel for the property and its surroundings. For constructional questions, competent and technically sound information is expected. When selling condominiums, detailed questions are asked about the common property, because these shares are also purchased together with the apartment.

Tip: We will assist you with the possible questions during the viewing appointment. We make a pre-selection already during the selection of the prospective buyers, so that neither time nor effort is wasted.

We take over the sales talks for you. We can conduct the negotiations for the sale of apartments very successfuly with years of experience. As real estate agents, we remain objective and do not allow ourselves to be pressured into making decisions.

Step by step to the apartment sale: Conclusion

In summary, the sale of the condominium is a project that needs good preparation. Patience and negotiation skills are essential in the selling phase. Rely on the expert’s valuation when determining the purchase price. Do not set the price too high or too low. Based on the estimated market value, decide whether the time is right for a sale. Here are the most important milestones for the sale of an apartment.

Floor Plan and Land Registry – Before selling your home, obtain the relevant floor plan, an extract from the land registry and other necessary documents.

Broker’s commission – Keep in mind that depending on the state, a broker’s commission may be due on a sale – but it pays off at all stages of the sales project.

Inheritance tax – When selling an inherited home, you must take into account the inheritance tax that may be payable. We will be happy to advise you on the use or sale of your inherited residential property. What do you have to pay attention to as an owner? More about selling an inherited property

Divorce- Even when selling an apartment or house after a divorce, there are numerous details to consider. Our experts know the legal pitfalls and problems – even in the case of an emergency sale in case of divorce. What do you have to consider? More about selling property after a divorce

Credit – A home can be sold despite a loan that has not yet been repaid, but there are several legal issues to be considered. Often a loan can be taken over by the future buyer. Our specialists are familiar with the basic conditions of loan repayment and takeover. More about real estate credit

Taxes – Even the sale of an apartment may involve certain costs, such as taxes. We can give you an initial estimate of the expected costs.

Key handover

The keys will be handed over on the day the final purchase contract is signed. The buyer has paid the purchase price and in return the seller hands over the keys. Through this symbolic gesture, the “transfer of ownership and possession” is finally decided.

The buyer is the owner of the property on the day of signing the purchase contract. He or she can live in it or rent it out at will. This also transfers all risks and additional costs. It is up to the owner to take out insurance for the property (water damage, fire, theft …). In addition, local taxes, fees and any co-ownership work must be paid.

In order to legally protect yourself when handing over the keys to your rented apartment, there are a few points to consider. Surely you do not want to be stuck with unnecessary renovation costs?

• Good tips for handover (external): Handing over the keys

Early handover of keys (preliminary purchase contract)

Many buyers want to get keys already when signing the preliminary sales contract. For example, to start construction work on the property, store fittings, etc. This early handover of keys is advantageous for buyers to save time or for convenience. However, handing over the keys early without waiting for the signing of the sales contract does involve risks for you as the seller:

From the point of view of the seller

If the sale does not materialize, you, as the seller, can have a resident on your own property who has no title or entitlement. Nevertheless, in case of doubt, he can stay on the property for a long time. This can be the case, for example, if the buyer does not obtain a mortgage, if the town hall exercises its right of first refusal when the buyer dies.

If the buyer has carried out major work, the property may have been weakened in its substance. Sometimes, while carrying out the works, the buyer may discover the existence of a construction fault and decide that he no longer wants to buy the property. In this case, the buyer may try to claim compensation from the seller for the work done, as he feels cheated.

If the keys have been handed over to the buyer before the sale and a disaster occurs (fire, water damage, etc.), this generally leads to problems with insurance and a claim for coverage for the disaster.

For sellers, the early handing over of keys brings many disadvantages

Real estate agent / Realtor

Take the time to sell your apartment. As Lukinski we provide important assistance in the sale of your condominium. We save time and money when selling your property. From the evaluation to the presentation of deeds and documents to the preparation of the exposé, we take over important and sales-promoting functions for a short-term and smooth sale of your residential property. Trust our experience in sales negotiations – it pays off!

Contact person: condominium

Get in touch with our real estate team and contact persons for condominiums – we look forward to your questions!

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Der Beitrag Sell your Apartment / Condo: Evaluation, procedure, taxes and tips erschien zuerst auf ℄ Real Estates.