Condominiums, sales and estate agents – everything you need to know

With a population of around 750,000 and an area of almost 750 square kilometers, Frankfurt am Main is one of Germany’s major cities alongside Berlin, Hamburg and Munich. In A-locations such as Frankfurt, you need a keen sense of price, as the prices per square meter are significantly higher than in the surrounding area. Depending on how quickly you want to sell your condominium in Frankfurt, you need to reach the right buyers with creditworthiness, genuine interest, an appropriate exposé and price.

Stephan M. Czaja (Lukinski)

Here we and I give you an insight into the steps involved in the sale!

Tip! We also buy directly in NRW and Cologne if you want or need to sell your apartment quickly.

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Frankfurt am Main: Location in Hesse

Here’s a quick look at the location with a view of Frankfurt from above.

Selling an apartment privately or with an estate agent?

Let’s start with the most important question for salespeople:

Sell privately or with an estate agent? Both are possible, it depends on your time.

Selling an apartment without an estate agent

If you have the time and experience to manage all the steps of a property sale on your own, including the valuation, pricing, preparation of exposés and documents, as well as conducting preliminary discussions with potential buyers and the purchase transaction, then you have the opportunity to sell your property without the help of an estate agent.

Work without a broker if:

• You have time (and nerves) for the preparation and sales process

Selling an apartment with an estate agent

However, if you want to save time and avoid unnecessarily prolonging the sales process, it is advisable to use an estate agent.

Hire a real estate agent if:

• You want to save time & spare your nerves

Good real estate agent in Frankfurt? Give me a call or write to me:

• Contact via e-mail
• Phone: 0221 165 323 72

Real estate valuation: Determining the purchase price

Every owner should consider a professional valuation for their Frankfurt apartment. The fact is that a property sale based on gut feeling or the mere mention of an ideal value often leads to an overvaluation and the associated consequences. Not having a valuation can prolong a sale. Another risk is high losses due to a sale price that is too low.

The realistic purchase price is determined during the real estate valuation

Data on the location, property and plot size, fixtures and fittings and infrastructural integration are used to determine the market value. A neutrally determined and fact-based offer price ensures your serious performance and is a basis for the profitable and secure sale of real estate in Frankfurt.

These factors influence the value of the property:

• Location
• Equipment
• Condition
• Construction method
• Infrastructure of the district
• Comparison objects

Procedure: From preparation to handover

Selling your apartment in Frankfurt in the best possible way requires more than just organizational talent and negotiating skills. As a seller, it is essential to always have an overview of the current status of the sales process and to know which step is required next to ensure that everything runs smoothly. The sales process can be divided into three phases.

The 3 phases of selling a home:

1. Preparation phase
2. Sales phase
3. Processing

Let’s take a closer look at the exact process:

Planning: Documents, exposé & Co.

Well prepared is already half sold! This also applies to apartments in Frankfurt. So make sure you have all the important documents in advance. This includes the land register extract, energy certificate and invoices for past renovation and modernization measures. You should also decide in good time whether you would prefer to sell privately or with an estate agent and set a realistic sales period. Get an overview of the incidental costs and prepare a professional real estate exposé.

The individual steps of the preparation phase:

• Private sale or with an estate agent?
• Real estate valuation
• Compile documents
• Preparean exposé
• Set a realistic time frame
• Draw up a financial plan

Marketing an apartment: Sales strategies

The property has been prepared for sale, all the documents are together and the sales period has been set? Then you now need to sell your apartment. To do this, you can choose between three sales strategies, the advantages and disadvantages of which vary depending on the location, type of apartment and type of house.

Read more here! Marketing a property: Strategy

You can therefore choose between these three strategies:

• Offensive
• Defensive
• Off Market

Once your apartment has been advertised and contact has been established with prospective buyers, organize viewing appointments, carry out credit checks and conduct sales talks. Don’t be afraid to use your existing documents as an argument during the purchase price negotiations.

Completing the sale: Purchase contract and handover

Once the buyer has been found and their creditworthiness has been checked, the final steps of the sale are initiated. You and the buyer sign the contract at the notary’s office. Payment of the agreed purchase price is then made once the land register has been updated. This is also known as the priority notice of conveyance. As soon as you have received the purchase price, either directly into your account or in advance via the notary’s escrow account, you hand over your apartment to the new owner.

Here is an overview of the final steps:

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

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

Valuation, sales & advice in Frankfurt

Selling property in Frankfurt – You have already learned a lot in this guide to selling apartments in Frankfurt. Frankfurt is an A-location and a hub in Hesse, but also in Germany. Located in the middle of the country, the city is only a few hours away from Cologne, Düsseldorf, Stuttgart and the like. Good conditions for sales.

You don’t want to deal with the sales details?

Write to me or give me a call!

• Contact via e-mail
• Phone: 0221 165 323 72

Apartment and house for sale in Darmstadt

Darmstadt is the northern end of the Bergstrasse in southern Hesse. This is one of the regions in Germany where spring comes particularly early. In addition, there is wine growing and the location at the foot of the Odenwald. So local recreation is well provided for. Art lovers get their money’s worth in Darmstadt, and for friends of high culture there is even a state theater with a diverse program of opera and theater – rather unusual for a city of this size.

Don’t waste time, get started right away! Learn all the steps here.

• Property
• Condominium
• Apartment house
• Plot
• Portfolio

Here is the map of Darmstadt:

In the south of Hesse: Popular residential area

Darmstadt is located in the south of Hesse near Wiesbaden, Frankfurt am Main, Mannheim and Mainz.

Here is the mesolage of Darmstadt:

Selling real estate in Darmstadt: Procedure

The good supply of highly qualified jobs together with the really diverse range of leisure activities makes Darmstadt really very attractive to live in. Thus, you can count on a fast real estate sale in Darmstadt.

Here the real estate sale summarized in three phases:

Preparation: Prepare house & apartment for sale

If you want to sell your apartment or house, good planning is already half the battle. If you do not want to sell privately, a short visit to the broker’s office is recommended. An experienced real estate agent will not only advise you on the topics of finances and taxes, but will also accompany you through the entire sales process. The real estate valuation and the preparation of the exposé are also part of the preparation phase.

The preparation phase summarized:

1. Timing
2. Broker appointment
3. Documents
4. Prepare property
5. Offer price
6. Exposé

Sales phase: market property and find buyers

Now it’s about getting your property to the buyer. If you prefer a more discreet sale, you can also sell your property off market.

Here is an overview:

1. Marketing strategy
2. Take requests
3. Contact with interested parties
4. Credit check
5. Viewing dates
6. Sales talk

Sales processing: purchase contract, ancillary costs payment & Co.

The buyer is found? Very good! Now it’s time to prepare the purchase contract. The new owner has to be registered in the land register and an appointment has to be made with the notary. Finally, all ancillary sales costs must be paid and the sale is completed.

This is how the sales process takes place:

1. Purchase contract
2. Notary appointment
3. Land register entry and purchase price
4. Handover
5. Invoices for notary and broker
6. Pay taxes

Create exposé: Important documents – checklist

Many sellers underestimate the importance of the exposé. But a professional exposé is important. Bad photos, wrong numbers and missing documents can scare away many buyers. Also the energy certificate, as well as the building description and living space calculation should be in the exposé.

The most important documents for the real estate exposé – checklist:

1. Year of manufacture
2. Size of the plot
3. Living space calculation
4. Floor plan
5. Building description
6. Energy values and energy certificate
7. Photos from inside and outside
8. Surrounding infrastructure
9. Extras (underfloor heating, balcony, pool, carport, etc.)

Darmstadt: Real estate in Hesse

Buy, rent and sell real estate in Darmstadt – The Hessian city is popular with investors and entrepreneurs, as well as families, students and young professionals. Here you will find the big overview, on the topic of buying, selling, renting, capital investment and everything else you need to know about the Darmstadt real estate market.

• Property
• Condominium
• Partial sale
• Apartment house
• Plot
• Portfolio

Apartment for sale in Wiesbaden

Wiesbaden offers a beautiful city center, a beautiful spa park with casino, the Nerobergbahn and the very famous Russian Orthodox Church from the Tsarist era. Quite famous, not least because of its organ, is the classicist Marktkirche. Across the Rhine are Mainz and Germany’s largest wine-growing region, Rheinhessen. I think it takes more than a lifetime to have discovered this region completely. The recreational value is indeed very high, even though there are no Alps or the Mediterranean here.

Don’t waste time, get started right away! Learn all the steps here.

• Property
• Condominium
• Apartment house
• Plot
• Portfolio

Here is the map of Wiesbaden:

Very good location near Frankfurt, Darmstadt & Mainz

Upscale Wiesbaden is located on the banks of the Rhine in the middle of Hesse. The state capital is located opposite and borders Hofheim am Taunus, Niedernhausen, Eppstein, Hochheim am Main and Taunusstein.

Here is the mesolage of Wiesbaden:

Guide: Preparation, procedure & real estate valuation

You want to sell your house or apartment in chic Wiesbaden? From the luxurious villa in Sonnenberg to the romantic loft in the city center to the historic half-timbered house in the suburbs of Auringen and Naurod, with our guide you are well prepared for your real estate sale.

Selling real estate in Wiesbaden: Checklist

Whether you sell privately or with a broker, the process of selling real estate is always the same. Here, good preparation is literally half the battle. Do not underestimate the costs for the broker and the procurement of documents. This can also take some time. It is therefore advisable to plan enough time in advance. The viewings also need to be well prepared, as do the questions from prospective buyers.

Important: Plan for time and costs!

Here is a brief overview:

• Broker contact
• Complete documentation and real estate exposé
• Marketing of the property
• Interested parties contact
• Credit assessment (new contacts) for high-value properties
• Viewing dates
• Sales processing
• Incidental purchase costs and taxes
• Handover

Valuing real estate: Determining the purchase price

Whether it’s a single-family home in Biebrich or an apartment in Mitte, we always recommend having the value of your property professionally determined. After all, the property valuation is crucial for determining the purchase price.

Here are some of the most important criteria that affect the value and therefore the selling price of your property:

• Location
• Infrastructure / Surroundings
• Size
• Equipment
• State of development
• Renovations / need for renovation

Important documents: energy certificate, exposé & Co.

The most important thing is the documents. Putting these together and obtaining them can take some time.

You should be sure to prepare these documents:

1. Documents relating to the property (construction plans, site plan, etc.)
2. Current extract from the land register
3. Area plot / residential
4. Service charge overview
5. List of the last renovation and modernization measures
6. Insurance documents (fire insurance)
7. Energy certificate
8. Real estate valuation
9. Exposé incl. good photos

Wiesbaden: Real estate in the Hessian capital

Buy, rent and sell real estate in Wiesbaden – The “Nice of the North” is popular with investors and entrepreneurs, as well as families, students and young professionals. Here you will find the big overview, on the subject of buying, selling, renting, capital investment and everything else you need to know about the Wiesbaden real estate market.

• Property
• Condominium
• Partial sale
• Apartment house
• Plot
• Portfolio

Property tax: definition & explanation

The property tax is not to be confused with the land transfer tax. While the real estate transfer tax is only due once when a property or land is purchased, the property tax is levied four times a year. There is a distinction between property tax “A” and property tax “B”. While property tax “A” is levied on real estate and land for agricultural and forestry use, property tax “B” applies to other developed land and buildings. Thus, yield real estate and investment real estate fall into group “B”.

• Land tax “A” for land for agricultural and forestry use
• Real estate tax “B” for other developed and developable land plots

Calculation of property tax: important factors

There are several factors that influence the amount of property tax. These include the assessed value of the property, the individual levy rate, the state, as well as the type of property.

Here at a glance:

• Collection according to real estate value (assessed value), taxed property
• Municipality (individual assessment rate)
• State (old or new states)
• Type of real estate (house, duplex, apartment, other)

Let’s now take a closer look at this.

Unit value: value of the real estate

The standard value is the value of the real estate or the value of the property. Here is a short example calculation:

• Determined unit value: 100,000
• X Property tax rate: 0.35%
• X Municipal assessment rate (B): 470%.
• = Real estate tax rate

So, you need to know 1) the value of your property (assessed value), 2) the property tax rate for your property type, and 3) the municipal assessment rate (B).

Levy rate & property tax code: location and property type

The levy rate is an individually determined figure set by the city or municipality. It is multiplied by the assessed value of your property. The same applies to the property tax code. This depends on the federal state and the type of property.

You can find the exact property tax figures by state here: Property tax for real estate

For example, the property tax figure in Hamburg differs from the property tax figure in Berlin.

Example: Apartment for 100,000 euros

Let’s look at a quick example to finish:

• Determined unit value: 100,000
• Property tax rate: 0,35% = 350 Euro
• Municipal assessment rate (B): 470% = 1,645 euros
• = 1,645 Euro or in the quarter 411.25 Euro (basic tax rate)

Would you like to know more about buying an apartment or house? Then you will learn everything from A-Z here: owner-occupancy or renting, financing a condominium, apartment search, real estate portals, real estate agents, valuation, purchase prices, negotiations and taxes. Knowledge and experience from experts, in one guide.

✓ A guidebook
✓ All facts
✓ Insider tips
✓ Purchase checklists

Learn step-by-step the home buying process and lots of insider tips!

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Brokerage commission: costs and breakdown

If a real estate agent is involved in your real estate purchase, costs will be incurred. These are called broker’s commission. The amount of the commission depends on the amount of the purchase price as well as on the federal state. For private purchases, the broker’s commission is split 50/50 between the buyer and seller. For commercial purchases, this division is individually negotiable.

• Private purchase: 50/50 between buyer and seller
• Commercial purchase: Freely negotiable

Fees by state: Table

Depending on the state in which the property is located, different fees are due. In principle, you can expect a brokerage commission between 3.57% and 7.14%.

Brokerage commission: 3,57% – 7,14%

So for private purchases, these values apply:

Buying real estate: Learning from A-Z

Here you will find everything you need to know for your real estate purchase from A-Z: owner-occupancy or rental, financing a condominium, apartment search, real estate portals, brokers, valuation, purchase prices, negotiations and taxes. Knowledge and experience from experts, in one guide.

✓ A guidebook
✓ All facts
✓ Insider tips
✓ Purchase checklists

Learn step-by-step the home buying process and lots of insider tips!

• Buy apartment