Selling an apartment building in Bonn: step by step

Let’s start with the basic question: How much is your apartment building in Bonn actually worth? Find out everything about the individual steps of the sales process, from the valuation to handing over the keys.

Determine the value of your apartment building

The value of your property depends on various factors, including the location, the size of the apartments and the condition of the building. A realistic selling price is crucial to attracting potential buyers and successfuly completing the sale.

How to value an apartment building

The valuation of an apartment building is carried out using various methods such as the comparative value method, the asset value method and the income capitalization method. A thorough valuation, taking into account all relevant factors, is essential in order to correctly assess the value of the property.

As a rule, at least two of these methods are combined to determine a realistic market value.

• Valuate apartment building
• Typical evaluation procedures
• Free evaluation by experts

Selling in Bonn: What to look out for?

There are some important aspects to consider when selling your apartment building in Bonn:

1. Location and property prices: Demand for real estate in Bonn is high, which has an impact on land prices. The location of the apartment building therefore plays a decisive role.
2. Documents: Make sure you have prepared all relevant documents such as floor plans, land register excerpts and tenant lists to make the sales process run smoothly.
3. Good contacts or an estate agent: An experienced estate agent can help you approach potential buyers and organize the sales process efficiently.

Location and property prices: The buyer target group in Bonn

Bonn is known for its attractive residential locations and high quality of life. The target buyer group is often investors who are looking for long-term returns and are prepared to pay corresponding prices.

You need to appeal to potential buyers who want to make long-term investments and are not just looking for short-term returns.

Documents: Floor plans, land register excerpt, tenant lists, etc.

Before you start the sales process, make sure you have prepared all the necessary documents for the property sale. This includes, among other things:

1. Land register extract
2. Parcel map
3. Building plans and building permits
4. Refurbishment status
5. Tenancy agreements and tenant list
6. Operating cost statements
7. Energy certificate
8. Status report or expert opinion

Good contacts or a good broker

As the real estate market in Bonn is very dynamic, it is advisable to use an experienced estate agent. An estate agent has the necessary contacts and resources to approach potential buyers and speed up the sales process.

Taxes when selling in Bonn: What do you need to consider?

When selling your apartment building in Bonn, you need to consider various tax aspects:

1. Speculation tax: Check the speculation period to enable tax-free sales.
2. The 3-object rule in Bonn.
3. Differences between asset deals and share deals and their impact on taxation.

Speculation tax: selling tax-free?

The speculation period is generally 10 years for rented properties. If you sell within this period, you must pay tax on the profits. After the period has expired, the sale is tax-free.

Further details on the 3-property rule and asset deals vs. share deals can be found in our article here.

Service charges when selling an apartment: checklist

The sale of an apartment is associated with various costs, which may vary depending on the country and region.

Before we take a closer look at the individual fees, here is an overview of the most important cost items:

1. Brokerage fees
2. Notary fees
3. Real estate transfer tax
4. Costs for the valuation
5. Costs for the most important documents

In most cases, owners decide not to sell their apartment privately and instead hire an agent to sell the apartment. As a result, brokerage fees also usually make up a large portion of the additional costs. Let’s take a closer look at them.

Brokerage fees for marketing & sale

When you hire a real estate agent to sell your home, you usually have to pay a broker’s commission. This commission varies depending on the agent and can range from 3% to 7% of the sale price. Brokerage fees usually include the cost of marketing the property, conducting viewings, assisting in negotiating the purchase price, and preparing the purchase contract.

Between 3% and 7% of the purchase price

Notary costs in the settlement

When selling an apartment, it is a legal requirement that the transaction be handled by a notary. Therefore, here too, you cannot avoid notary fees. The notary fees consist of various fees that are based on the purchase price of the property and are set by law. They amount to 1.5 – 2% of the purchase price. These include, for example, the basic fee, which is based on the value of the property, and the fees for drawing up deeds and certificates.

Between 1.5 and 2% of the purchase price

In most cases, the buyer pays the notary costs.

Real estate transfer tax: payable by the buyer

The sale of an apartment also incurs land transfer tax. This is also paid by the buyer. The amount of the real estate transfer tax varies depending on the federal state and is between 3.5% and 6.5% of the purchase price. It is calculated on the basis of the purchase price and must be paid to the tax office within a few weeks of the purchase.

Between 3.5% and 6.5% of the purchase price

You can find out everything else about taxes here:

• Apartment sale taxes

Costs for real estate valuation

Whether it’s a maisonette or a micro apartment – before you sell your apartment, you first need to know how much the property is worth. For this purpose, the apartment is inspected by a certified appraiser for condition and possible defects, and a value appraisal is prepared. This forms the basis for the subsequent purchase price. The costs for an appraisal can range from a few hundred to several thousand euros, depending on the scope and type of the appraisal.

Fees for the most important documents

For the sale of an apartment you also need several documents, which you not only have to hand over to the new owner, but which you also need, for example, for the purchase contract and the sales transaction. These include, for example, the energy certificate, an extract from the land register, and the development plan. You can get the consumption-oriented energy certificate for less than 100 euros, for the demand-oriented certificate you should expect several hundred euros. You should also not forget the extract from the land register. This costs 10 euros uncertified and 20 euros certified.

Some costs for obtaining sales documents at a glance:

• Consumption-oriented energy certificate: under 100 euros
• Demand-oriented energy certificate: over 100 euros
• Uncertified extract from the land register: 10 Euro
• Certified extract from the land register: 20 Euro

Optional: Renovation & modernization costs

In order to increase the value of the property and the purchase price, some owners decide to renovate and modernize their apartment shortly before selling it. The cost of this depends on the extent of the renovation work, the materials used and the size of the apartment.

Conclusion: Calculate costs in advance

In summary, the sale of an apartment involves various costs that should be calculated precisely in advance. Precise planning and preparation can help to avoid unpleasant surprises and unnecessary costs. It is therefore advisable to obtain comprehensive information in advance and to prepare an accurate cost overview.

Apartment sale without a broker: That speaks for it

In this case, you will have to take care of the sales process yourself, including creating ads and organizing viewings.

Let’s take a closer look at the advantages and disadvantages.

Advantages: Saved costs & faster processing

One of the biggest advantages is that The most important factor is certainly that you can save the broker’s commission, which is usually incurred in a successful sale. This commission is usually several thousand euros and can therefore represent a significant portion of the sale price. In addition, you always have full control over the sales process and can always decide yourself about viewing, buyer & Co.

The biggest advantages at a glance:

• Savings on broker commission
• Control over the sales process
• Direct contact with potential buyers
• More personal appearance
• Faster processing of formalities

Disadvantages: Lack of professional support

However, a sale without a real estate agent is also associated with some disadvantages. For example, you have to take care of creating advertisements and organizing viewings yourself, and you don’t have the support of a professional real estate agent in evaluating the apartment and handling the contract. In addition, it can be difficult to find a suitable buyer if you do not have an extensive network or experience in selling real estate.

All disadvantages summarized:

• Time and resource consuming
• No support of a professional broker
• Lack of network and experience in real estate sales

You see: Selling without a realtor is worth it. Even if you lack experience, a private apartment sale is not impossible. If you follow these steps, nothing will stand in the way of your sales success.

Procedure: From the valuation to the purchase contract

If you decide to sell your apartment without the help of a real estate agent, you should follow these steps.

An overview of the process:

1. Have apartment valued
2. Create sale ad
3. Organize tours
4. Negotiate purchase price
5. Create purchase contract
6. Apartment handed over to buyer

Have apartment valued

The first thing you need to do is find out how much your apartment is worth. To do this, you can use various online tools or real estate portals to value your apartment and determine the average price per square meter in your area. A professional property valuation by an appraiser is also possible.

Create sale ad

Once you have determined the value of the apartment, you need to create an advertisement to draw the attention of potential buyers to your apartment. For this purpose, you can place ads in newspapers, online real estate portals or even on social media platforms. Make sure to include meaningful photos and detailed information about the apartment.

Organize tours

Once you have received inquiries from potential buyers, you should organize and conduct viewing appointments. You should be flexible and offer appointments at weekends or in the evenings to accommodate as many interested parties as possible.

Negotiate purchase price

Once a buyer has been found, you need to negotiate the selling price. Here it is important to set a realistic price and not to make too high demands. Also, make sure to answer all the buyer’s questions and provide additional documents or information if needed.

Create purchase contract

Once the buyer and seller have agreed on a price, you need to draw up the purchase contract. For this, you can use standardized contract templates or seek advice from a lawyer. The contract should contain all the important information about the apartment and the conditions of the sale.

Apartment handed over to buyer

Now you just need to make a notary appointment to complete the sale. After the sales contract has been signed, you have to hand over the apartment to the buyer. Here you need to provide all the necessary documents and keys and also make a handover protocol to record any damage or defects.

It is important that you proceed carefully with each step of the sales process and take sufficient time to organize and carry it out. If you are unsure or need assistance, you can also consult a notary or a lawyer to ensure that all legal formalities are complied with.

Costs: Notary, energy certificate & Co.

As mentioned above, you can save the broker’s commission if you decide to sell without a broker. However, you will still have to bear some costs that come along with the sale. Here are some of the costs that may come your way as a seller:

• Notary fees
• Costs for the application of the energy certificate
• Marketing & advertising costs

Overall, the cost of selling an apartment without a broker may vary depending on the value of the property and the scope of services used. It is advisable to find out in advance about the possible costs in order to make a realistic calculation of the proceeds of the sale.

Important documents at a glance

As we all know, good preparation is half the battle. This also applies to the documents. It is best to compile them in advance and keep them in an important folder that you can access at any time.

In any case, you can not do without these documents:

• Land register excerpt
• Energy certificate
• Purchase contract
• Parcel map
• Floor plan
• Building description
• Living space calculation
• List of maintenance measures
• Overview of the house payments

Make sure that all documents are always complete. Additional costs may be incurred, especially for the application for the energy certificate and the land register extract.

You can find everything you need to know about the most important documents here:

• Documents sale

Checklist: This is what you should pay attention to

Here’s a checklist of some important questions to ask yourself when considering whether to sell your home without a realtor:

1. Do you have the time and resources to handle the apartment sale yourself?
2. Do you have experience in dealing with real estate sales?
3. Can you realistically estimate the value of your home?
4. Do you have all the necessary papers and documents together?
5. Are you ready to negotiate with potential buyers?
6. Do you have a clear idea of what you want to achieve in terms of sales?
7. Do you have the necessary knowledge to clarify legal issues related to the sale?

Conclusion: Selling an apartment without a broker is worthwhile

In summary, selling an apartment without a broker is an option that has many advantages. First of all, you save the broker’s commission that would otherwise be due, which can be a considerable sum, especially for expensive properties.

At the same time, selling without a real estate agent also requires some time and work, since the seller must take over all tasks himself. These include, for example, advertising the apartment, conducting viewings and negotiations, as well as preparing and reviewing the necessary documents. However, if one is willing to take on these tasks and has the necessary knowledge and skills, selling without an agent can be a sensible decision that leads to a successful and satisfying selling experience.

Unterlagen für den Verkauf vorbereiten – Checkliste

Wir empfehlen: Sammeln Sie vorab alle wichtigen Dokumente. Grundbuchauszug zu beantragen und die Rechnungen der letzten Modernisierungsmaßnahmen zusammenzutragen, kann einige Zeit dauern. Deshalb lohnt es sich, schon frühzeitig damit anzufangen. Im schlimmsten Fall, kann sich der Verkauf verzögern und so werden potenzielle Käufer abgeschreckt.

Planen Sie genug Zeit für die Beschaffung der Dokumente ein!

Welche Unterlagen braucht man für die Verkaufsvorbereitung? Statt einem langen Text, lieber eine kurze Checkliste, mit den wichtigsten Unterlagen, die sie in erster Linie für den Verkauf der Immobilie brauchen und die, idealerweise direkt zu Beginn des Verkaufs, zur Verfügung stehen.

Wichtige Unterlagen:

1. Unterlagen zur Immobilie (Baupläne, Lageplan, usw.)
2. Aktueller Grundbuchauszug
3. Fläche Grundstück / Wohnen
4. Nebenkostenübersicht
5. Liste der letzten Renovierungs- und Modernisierungsmaßnahmen
6. Versicherungsunterlagen (Brandversicherung)
7. Energieausweis
8. Immobilienbewertung
9. Exposé inkl. guten Fotos

Schauen wir uns einige dieser Dokumente kurz genauer an.

Grundbuchauszug: Beantragung & Kosten

Eines der wichtigsten Dokumente beim Immobilienverkauf ist der Grundbuchauszug. Im Grundbuch der Gemeinde besitzt jede Liegenschaft eine eigene Seite mit allen Details zu den Eigentumsverhältnissen, der Lage und Größe des Hauses oder der Wohnung, so wie den Grundschulden und Rechten. Beantragen können Sie den Grundbuchauszug im Gemeindebüro und kostet ca. 10 Euro.

Das wichtigste zum Grundbuchauszug:

• Beinhaltet die wichtigsten Details
• Beantragung beim zuständigen Amt
• Kosten: 10 Euro

Lageplan: Größe, Höhenlage & Nutzungsart

Auch der Lageplan Ihres Objekts ist wichtig. Der genaue Inhalt ist von Bundesland zu Bundesland unterschiedlich.

Hier die wichtigsten Punkte:

• Detaillierte Beschreibung der Lage
• Größe & Höhenlage
• Bebauungsplan
• Nutzungsart
• Benachbarte Grundstücke
• Grundstücks- & Flurstücksgrenzen

Energieausweis: Wichtiges Kriterium

Der Energieausweis, auch Energiepass genannt, gibt Auskunft darüber, wie viel Energie für die Immobilie gebraucht wird. Vom Dach über die Fenster bis zur Heizung – die Angaben sind pro Quadratmeter der Nutzfläche und pro Jahr aufgezeichnet. Das erlaubt dem Kaufinteressenten nicht nur Einsicht in die Energieeffizienz des Objekts, er kann es außerdem mit anderen Immobilien vergleichen. Sind Energieverbrauch und damit verbundenen Kosten sehr hoch, senkt das den Wert der Immobilie erheblich.

Hier können Sie den Energieausweis beantragen:

• Handwerker
• Architekten
• Energieberater
• Online

Renovierungs- und Modernisierungsmaßnahmen

Der Boden der Immobilie wurde erneuert? Das komplette Bad saniert und dabei alte Rohre ausgetauscht? Sie haben eine neue Garage anbauen lassen oder die Wohnfläche ausgebaut? Sammeln Sie alle Rechnungen zusammen und listen Sie die unterschiedlichen Sanierungen und Renovierungsmaßnahmen säuberlich auf. Das dient Ihnen später als sehr gute Argumentationsgrundlage wenn es um den Kaufpreis des Objekts geht, vor allem, wenn Sie sehr viel Zeit und Geld in Modernisierung gesteckt haben.

Heben Sie alle Rechnungen auf!

Der Makler ist beauftragt und die wichtigsten Dokumente haben Sie beisammen? Sehr gut! Bald können wir mit der Vermarktung starten. Vorab empfehlen wir immer, die Immobilie für den Verkauf vorzubereiten. Zum Beispiel anhand einer Wertsteigerung. Wir zeigen Ihnen hier, wie’s geht:

Weiter zu Schritt 4: Immobilienwert steigern

Bevor Sie Ihre Immobilie inserieren, empfehlen wir immer über eine Wertsteigerung nachzudenken. Schließlich lassen sich durch Sanierung, Renovierung & Co. auf effiziente Weise den Kaufpreis erhöhen.

• Immobilienwert steigern

Zurück zu Schritt 2: Immobilienmakler beauftragen

Ein Immobilienmakler begleitet Sie nicht nur durch den gesamten Verkaufsprozess der Immobilie. Er steht Ihnen mit jeder Menge Expertise, Erfahrung und Verhandlungsgeschick zur Seite und berät Sie auch zu den Themen Steuern und Finanzierung.

• Immobilienmakler beauftragen

Documents for the bank: photos, energy certificate & purchase contract

Financing requests for real estate purchases are part of your bank advisor’s daily business. If you want to score points with your financing request, you should provide all important documents directly. This saves your bank time and energy, as it does not have to request extra new documents. Instead, the financing plan can be set up quickly and the financing process can be completed. So that you can enjoy a quick financing approval, we recommend that you prepare your documents in two folders:

1. Folder: Credit rating
2. Folder: Object

Now let’s take a closer look at the object folder:

House & apartment exposé: master data of the property

First of all, the bank needs a property file with the basic data of the house or apartment. Finally, the bank must know the master data of the property. You can either create an exposé or a fact sheet for this purpose.

You have the following options:

• Real estate exposé
• Fact Sheet

Photos of building and plot

In addition to the most important basic data, the bank also needs some photos of the object, so that it can get a visual impression. Make sure that the pictures have been taken in good light. Daylight is best suited for this purpose. In addition, you should give a lot of importance to a good quality of the photos, so that also details of the property can be seen. The bank not only needs photos of the property itself, but also of the immediate surroundings and, if necessary, of the common property.

You should attach photos of this:

• Property
• Community property
• Immediate surroundings

Parcel map, floor plan & insurance

In addition, the bank needs the cadastral map of the property, as well as the site plan. Also the floor plans of the property, as well as the living space calculation are to be attached. Another important document is the extract from the land register. The land register is an official, public register and contains legal relationships to the property. In addition to land charges, mortgages and liens on real property, it also contains further information on the respective ownership and residential relationships.

The following documents must also be forwarded to the bank.

• Parcel map and site plan
• Floor plans
• Living space calculation
• Land register excerpt
• Building insurance
• Energy certificate

In order for the bank to get an accurate picture of the property, the hallway and site plans are especially important:

Special case: Rental agreement for rented property

You can buy a property rented or unrented. If you buy a rented property, you must also give the rental contracts to the bank. In the case of unrented property, this step is of course omitted.

Special case: Homeowners’ association (WEG)

If you purchase a house or a condominium as part of a condominiumowners’ association (WEG), add the declaration of division to your property folder, as well as relevant agreements, the last three minutes of the owners’ meetings, the collection of resolutions and the WEG administrator’s contract. The statement of charges and the property tax assessment should also be in your folder.

Here is a brief overview:

• Declaration of division – with certificate of seclusion
• Collection of resolutions – last 3 owners’ meetings
• WEG manager contract
• House service charge statement
• Property tax notice

At the end: draft purchase agreement

The last object in the folder is then your draft purchase agreement, which thus completes the real estate folder.

Reading tip: Create purchase contract

Object folder for the bank: checklist

Here again the most important documents summarized at a glance;

1. Exposé / fact sheet of the property
2. Photos of building and plot
3. Parcel map, floor plan, insurance & co.
4. Rental contract (if available)
5. Documents of the WEG (if available)

Once you have all these documents together, nothing stands in your way of successful financing!

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!

• Buy apartment