Importance of the handover when selling a house

Once the purchase contract has been signed and the notary appointment has been completed, 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 nasty surprises after the purchase contract has been signed, there are a few points to bear in mind.

Compensation for damages or a subsequent reduction in the purchase price make many buyers’ hair stand on end.

But that doesn’t have to be the case.

Role of the handover protocol

A handover protocol creates clarity and avoids disputes. This is because the purchase contract alone does not record all the key points. Defects, meter readings and existing inventory can be recorded again or in much 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.

• Creates clarity and avoids disputes.
• Supplements the purchase contract by recording important details such as defects, meter readings and inventory.
• Signed by the seller to document the agreements and avoid misunderstandings.

Important aspects in the handover protocol

The handover protocol when selling a house is not so dissimilar to the protocol when handing over a rental property. However, other important points must be recorded.

This includes defects that still need to be rectified by the seller. A date should also be set for this. The handover protocol should also record which fixtures and fittings still need to be removed. All meter readings should also be recorded. The process of handing over the keys is also noted in the protocol. If keys are still missing, it is noted how many and when they will be handed over. The keys are usually only handed over after the purchase price has been paid in full.

• Similar to the protocol for rental property handovers.
• Documents defects for rectification by the seller.
• Setting a date for repairs.
• List of the inventory to be removed.
• Recording of meter readings.
• Note on the handover of keys, normally only after full payment of the purchase price.

Handover protocol: Example

Here is an example of a handover protocol in table form:

Comparison! Handover of a rental property

When the house is handed over, not only are the keys handed over, but also many other important documents. Construction 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 documents relating to the various tenants must also be handed over. During the handover, the seller usually also explains to the buyer how the heating and other important appliances in the house work.

Checklist documents

Checklist documents handover:

• Building plans
• Floor plans
• Calculation of the living space
• Building contracts
• Expert opinion
• Maintenance contracts
• Insurance certificates

1-bedroom / 2-bedroom apartment for sale: expiration

You want to sell a small apartment, maybe it is the very first property you sell. Then many questions arise, which I will answer here shortly.

PS: I buy directly, call me or write me here under contact.

4 big questions when selling for the first time

The most common questions from first-time sellers:

• How much is my small apartment worth?
• Selling with or without a broker?
• Do I have to pay tax on the sale of the apartment?
• What is the first step in apartment sale?

First, let’s clarify the most important questions. After that, I will present to you in detail the 18 steps in the sale of an apartment. From the very first step to the purchase contract and notary appointment.

Apartment building, high-rise building or ETW in the apartment block:

How much is my small apartment worth?

The value of a property, no matter whether it is a small apartment, a large apartment or even a multi-family house, is generally always measured on the basis of three central factors:

1. Location (city, district and street)
2. Property type / condition (cosmetic repairs to renovation backlog)
3. Tenant / Vacancy

Let’s start with the insight: Valuation.

Location of the apartment: Munich vs. Duisburg – Factor #1

Location – Central in the valuation, the land price, or the location of your apartment. 40 square meters in Schwabing (Munich) is very different from 40 square meters are Marxloh (Duisburg).

Location means not only in which city to sell, but also which district, in which street, with which house number. The difference between districts is big, but also between streets. Just think of an apartment, close to an intersection with a main street, the typical noise and only 300 m away, the small idyllic city park. Same street, big difference.

Comparison, location Munich / Duisburg:

• 40 m² in Munich Schwabing: 483,000 euros
• 40 m² in Duisburg Marxloh: 74,000 euros

Difference Munich / Dusiburg:

+ 550% price difference

Who buys small apartments?

After looking at the supply side (your apartment), we take a look at the buyer side. What about supply and demand in your micro-location (street and district). Especially in Berlin, Düsseldorf, Frankfurt, Hamburg, Cologne, Munich, Stuttgart and other cities with universities and colleges, the sale goes faster than in rural areas. Simply because the demand is significantly higher here.

Also with a view to future developments, demographic changes, such as the increasing number of single-person households. There are fewer large families and more single people. Perspectives play a role in the assessment.

Let’s come after the location to property itself, your one-bedroom apartment or two-bedroom apartment.

Property type / condition (cosmetic repairs to renovation backlog) – factor #2

The property type itself is relevant for all buyers. That it is a 1-room / 2-room apartment is clear. Other factors would then be, for example, the entire building. Is your apartment in a high-quality apartment building or in an anonymous apartment block. This makes it more or less attractive to later buyers / tenants (rental price).

To evaluate your property, you need to take a look at its condition. On the one hand, the part ownership that you share with the homeowners association and your special property, the apartment. Topics the cosmetic repairs, renovation congestion, but sometimes also existing furniture.

For such a valuation, you should talk to a professional, visit the apartment, if necessary, also consult a few documents and records. You can learn more about this a little further down in the guide, in the 18 steps to selling an apartment!

Renovate / refurbish before selling?

Many who are selling an apartment for the first time often ask if they still need to renovate or even refurbish their condo? In fact, they don’t have to go to this trouble; many buyers like to buy properties that they can subsequently upgrade. Ultimately, of course, this has positive effects on property returns.

Tenants, leases and vacancies – Factor #3

Tenant / Vacancy – Factor 3 in the valuation of your one-bedroom apartment or two-bedroom apartment is the current occupancy rate.

Sell rented apartment – If the apartment is rented, the history of the tenant in the resale also counts a little. Ideally, there were no arrears and difficulties. Likewise, vacancy also plays a role, or for the later effort of re-renting from the apartment. If you have lived in your apartment as an owner-occupant, this counts as vacancy, after all, the new owner must re-rent the apartment if he does not want to occupy it himself as an owner-occupant.

The more we go into detail, the less the price is ultimately affected.

Therefore, we match the three key evaluation factors once again:

1. Location (city, district and street)
2. Property type / condition (cosmetic repairs to renovation backlog)
3. Tenant / Vacancy

Selling with or without a broker?

Sell privately or with a real estate agent? Besides the valuation, the big question in sales. If you haven’t sold a condominium yet, you might think at first: selling without a real estate agent will save me money! In fact, however, the private sale has some risks. Just think of the previously spoken valuation, but also of the entire procedure and purchase process, the individual real estate listings, the constant communication with prospective buyers and real prospective buyers, the negotiations, purchase contract and …

In the end, the few percent you pay as a seller in brokerage costs are not much compared to the mistakes that can happen. Even more important, however, is the time factor, as you will see later in the entire 18 steps up to the purchase agreement and notary appointment.

Realistic assessment, personal network, communication and advisor:

Do I have to pay tax on the sale of the apartment?

For you as a seller, there is only one relevant tax to consider when selling an apartment, the speculation tax.

Speculation tax on sale: when and how much?

Speculation tax is explained relatively quickly and simply. First distinguish: Owner-occupier and capital investor (rental).

If you have exclusively occupied your apartment yourself, the sale is tax-free.

As soon as you have rented out your apartment, the situation changes. Now the speculation tax takes effect.

• Self-interest = tax free
• Capital investment (rental) = speculation tax is incurred
• Speculation period 10 years (between purchase / sale)
• Exception: own use in the year of sale + 2 years earlier

The profit you make is taxed.

Formula:

• Taxable profit = sales price – purchase price

Why does the speculation tax exist?

The speculation tax is intended to make too fast real estate transactions (speculators) uninteresting, due to the relatively high tax rate that applies. The amount of the speculation tax is based on the regular tax rate (income tax), this can be up to 42% for private individuals. From ~ 255,000 annual income (including profit from sales) even the additional rich tax +3%.

• Speculation tax up to 45% in maximum

The speculation tax is therefore incurred if you have rented out your property. Then the period (speculation period) is 10 years. That is, between the purchase of your apartment and the sale of your apartments, ten years must have passed. Then the sale of your apartment is tax-free. If you sell within these ten years, you will have to pay the speculation tax.

There is one exception, should you have rented out your property but then use it yourself for two years before selling it, you can sell it tax-free in the following year.

• Does not fall taxation of gain on the sale of real estate
• Self-interest = tax free
• Capital investment (rental) = speculation tax is incurred
• Speculation period 10 years (between purchase / sale)
• Exception: own use in the year of sale + 2 years earlier
• Amount is based on the income tax rate (person)

What is the first step in apartment sale?

The first step to selling an apartment is deciding that you want to sell your condo! If you are already at this step, learn here the 18 steps of the apartment sale.

Step by step: checklist sale

You now know the 4 important questions and answers! How much is my small apartment worth? Selling with or without a broker? Do I have to pay taxes on the sale of my apartment? What is the first step in selling an apartment? Go into detail now with this 18 step checklist. From the time of sale, to the notary appointment and purchase price transfer.

Preparation: prepare property and sale

• Financial planning and timing of sale
• Hire real estate agent
• Records and documents
• Increase real estate value
• Determine offer price
• Create exposé

Sales phase: market property and find buyers

• Market real estate
• Contact with prospective buyers
• Filter and select prospective buyers
• Credit check
• Viewing dates
• Sales talk & purchase price negotiation

Sales processing: purchase contract until handover

• Draw up purchase contract with notary
• Notary appointment
• Land register entry and payment processing
• Handover of the property
• Notary fees & broker commission
• Pay taxes

Modern micro apartments with furnished apartments:

Location, location, location! Here’s another special look at a selection of major cities:

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

Aufgaben eines Immobilienmaklers: Vorbereitung & Abwicklung

Ohne einen Berater mit Erfahrung, der sich mit der Vermarktung der Immobilie auskennt, kann sich so mancher Immobilienverkauf schwierig gestalten. Vergessen Sie nicht: Über 70% der Immobilien werden jährlich über einen Makler verkauft. Er kennt sich nicht nur mit der Vorbereitung einer Immobilie aus, sondern auch mit dem Kaufvertrag, Steuern und natürlich Bonitätsprüfungen.

Liste der Aufgaben eines Maklers:

• Vermarktung der Immobilie
• Beratung bezüglich Steuern und Finanzen
• Kreditwürdigkeitsprüfung
• Besichtigungstermine
• Verhandlungen und Argumentation
• Abwicklung, Kaufvertrag und Notar
• …

Ein Großteil vertraut auf den Makler, aber nicht nur wegen dieser einzelnen Abläufe und Prozesse. Insbesondere die eigene Zeit ist ein hohes Gut für die meisten Verkäufer:

Vorteile eines Immobilienmaklers: Erfahrung und Expertise

Wer hat schon die Zeit privat mit 100, 200 Interessenten Anfragen umzugehen, Bonitätsprüfung durchzuführen, Besichtigungstermine zu vereinbaren, sie durchzuführen, und so weiter. Genau! Und das macht den Faktor Zeit für die Meisten, die einen Immobilienmakler beauftragen, zum wichtigsten Aspekt. Erst in zweiter Linie dreht es sich dann um Vermarktungsstrategien, Exposés, Kreditwürdigkeitsprüfung, Interessenten Kommunikation, Besichtigungstermine und den bestmöglichen Verkaufspreis.

Vorteile eines Immobilienmaklers:

• Für die meisten: Zeit und Stress
• Immobilienvermarktung aus Erfahrung
• Strategie und Methoden Mix, für jeweilige Objekt Art und Zielgruppen
• Eigenes Investorennetzwerk aus Bauträgern und Privatiers
• Filter für wirkliche Kaufinteressenten
• Bestmöglicher Verkaufspreis, statt Verluste bei Privatverkauf

Immobilienmakler beauftragen: Ratgeber

Die Aufgaben und Vorteile eines Maklers sind nun geklärt. Möchten Sie Ihre Immobilie nicht im Alleingang privat verkaufen, dann steht jetzt die Suche nach einem seriösen und kompetenten Immobilienmakler an.

Immobilienmakler finden: Online & Offline

Kommen wir nun zur wichtigen Frage:

Wie findet man einen Immobilienmakler?

Im Idealfall haben Sie bereits Freunde oder Bekannte, die bereits eine Immobilie veräußert haben und Ihnen jemanden empfehlen können. Ansonsten werden Sie hierfür auch in Ihrer lokalen Tageszeitung fündig. Und ansonsten können Sie im Internet nach Maklern in Ihrer Region schauen. Der Vorteil: Sie können Online-Empfehlungen zu Rate ziehen und die Internetseite des Maklers, so wie die eingestellten Fotos der Immobilien genauer unter die Lupe nehmen. Und je nach Haustyp oder Wohnungstyp finden Sie so vielleicht sogar einen Makler, der auf Ihr Objekt sogar spezialisiert ist.

So finden Sie einen passenden Makler:

• Empfehlungen von Freunden, Familie & Bekannten
• Regionale Immobilienmakler anfragen
• Online: Spezialisierte Makler finden

Alleinauftrag oder einfacher Maklervertrag?

Außerdem müssen Sie sich fragen: Möchten Sie nur von einem Makler vertreten werden? Oder möchten Sie sich alle Optionen offen halten und Ihre Immobilie bei mehreren Maklern inserieren? Der Vorteil eines Alleinauftrages ist, dass der Makler verpflichtet ist, alles daran zu setzen Ihr Haus oder Ihre Wohnung schnell und effizient zu verkaufen. Schließlich ist er der einzige Makler, der sich Ihrer Immobilie annimmt. Entscheiden Sie sich für einen einfachen Maklervertrag, können Sie Ihre Immobilie bei mehreren Maklern vermarkten lassen. Das ist dann von beiden Seiten aus unverbindlich und die Möglichkeit eines Privatverkaufs steht Ihnen weiterhin offen.

Sie könne sich zwischen diesen Maklerverträgen entscheiden:

• Einfacher Maklervertrag
• Alleinauftrag
• Qualifizierter Alleinauftrag

Maklervertrag unterschreiben: Checkliste

Haben Sie sich für eine Art des Maklervertrags entschieden, müssen Sie vorab nur noch den Maklervertrag unterschreiben. Bevor Sie das tun, haben wir hier noch ein paar Tipps für Sie, woran Sie einen guten Makler erkennen! Das ist manchmal nämlich gar nicht so einfach. Sprechen Sie vorab also unbedingt folgende Punkte an, um sicher zu gehen, dass Sie sich auf demselben Nenner befinden.

Wichtige Fragen an den Makler – Checkliste:

• Anhand welcher Faktoren wird der Kaufpreis festgelegt?
• Wie wird die Immobilie vermarktet?
• Ist er auf Ihren Immobilientyp spezialisiert?
• Wie viele Immobilien wurden im letzten Jahr erfolgreich verkauft?
• Wie hochwertig sind die Fotos der Immobilien?
• Wie hoch ist die Provision?
• Zahl die Provision Käufer, Verkäufer oder beide?

Immobilie ohne Makler verkaufen: Privatverkauf

Was tun Sie, wenn ein erfahrener Käufer oder auch Investor, Mangel nach Mangel feststellt und den Kaufpreis Stück für Stück, nachvollziehbar, nach unten korrigiert? Viele private Verkäufer tappen hier in eine Falle und geben sich am Ende mit einem viel zu niedrigen Verkaufspreis zufrieden. Neben fehlendem Verhandlungsgeschick, mangelt es den meisten Privatverkäufern zudem an Erfahrung und Expertise.

Hier die häufigsten Fehler eines privaten Immobilienverkaufs:

• Falsche Wertermittlung
• Kein eigenes Kundennetzwerk
• Fehlerhafte Besichtigungstermine
• Fehlende Bonitätsprüfungen
• Schlecht geführte Preisverhandlungen

Schon deshalb ist der erste Schritt, sich ein Bild des Objekts zu machen. Das machen Sie anhand der richtigen Unterlagen.

Weiter zu Schritt 3: Unterlagen und Dokumente

Bevor Sie das Exposé erstellen und die Immobilie inserieren, sollten Sie dafür sorgen, alle Unterlagen und Dokumente zu organisieren und zusammen zu stellen. In unserer Checkliste finden Sie einen kompletten Überblick.

• Unterlagen und Dokumente

Zurück zu Schritt 1: Finanzplanung und Verkaufszeitpunkt

Eine gute Vorbereitung ist bekanntlich die halbe Miete. So auch beim Immobilienverkauf. Vorab sollten Sie nicht nur jegliche Nebenkosten mit einkalkulieren, sondern auch einen realistischen Verkaufszeitpunkt ansetzen.

• Finanzplanung und Verkaufszeitpunkt