Dual Activity – Dual activity refers to brokers. The definition is that a broker acts for a seller and a buyer at the same time. The requirement is that the real estate broker be impartial. The real estate broker must also act as a listing broker for both parties or as a listing broker for […]
Easement – An easement is a right over another person’s property, such as real estate. Three types of easements are recorded in the BGB. These rights, which are regulated in law by definition, are the limited personal easement, the easement and the usufruct. The limited personal easement is the right to a property in favour […]
Disagio – Disagio or as a synonym Damnum or Abgeld cheapens the initial interest rate of a loan when buying a property. By definition, a person is granted a loan and a discount of the loan is retained, this sum is called a discount. The sum acts as a prepayment of interest. In return, the […]
Duty to tolerate – The duty to tolerate is a duty that is anchored in the German Civil Code (BGB) and by definition obliges a property owner to tolerate certain encroachments on his property. For example, if a construction crane swings over a neighbor’s property subject to certain conditions, the property owner is under a […]
Definition, re-roofing & above-rafter insulation Roof renovation – Roof renovation refers to the repair of a roof in terms of thermal insulation and waterproofing. Often the roof renovation is carried out as soon as minor damage, such as loose or loose tiles, are noticed. In exceptions and in the case of larger damages, a complete […]
State subsidy – A state subsidy refers to financial support from the state. There are many different aspects to the modernization or purchase of real estate, for example, for energy saving measures. It is important to inform yourself in detail before investing, i.e. whether and how high a subsidy will be. When buying or building […]
Chimney sweep – The chimney sweep is responsible not only for the control of fire protection and function of heating and combustion systems, but also for the monitoring of emission control and energy saving. The regulations concerning the tasks are laid down in the Chimney Sweep Act. Chimney sweeps often join together to form a […]
The Fee Regulations for Architects and Engineers set out the framework for the remuneration of architects and engineers for planning in the field of civil engineering, architecture and urban planning. The fee is made up of 4 different factors. The construction costs, the fee rate, the degree of difficulty of the project divided into 5 […]
Hypothekenbank is an obsolete name for a Pfandbrief bank since 2005. In purely legal terms, mortgage banks are Pfandbrief banks, but some mortgage banks were allowed to keep their name. Pfandbrief banks are credit institutions whose banking business is to acquire mortgages, pool these mortgage Pfandbriefe and place them on the capital market. They are […]
A mortgage is an interest-bearing loan on a property. The definition of a mortgage simply explained is that you take out a new loan or pay off an old one and pledge your property as collateral. This means that your property belongs to your lender and if you default, the lender can sell your property […]
Hobby cellar – The well-known hobby cellar is a cellar room, which is made for the respective hobby. To rent or buy a hobby cellar extra is not worthwhile in most cases, since the simultaneous maintenance of 2 apartments or real estate is possible for the fewest people. However, it is more obvious to take […]
Responsibility & Tasks Property management – The property management is responsible for the care of the condominium owners’ association and their meeting, caretaker activities and garden maintenance, winter and clearing services, commissioning and supervision of repairs or renovation work, preparation of accounts and business plans. The property management carries out the resolutions of the condominium […]
