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Quick help with the most frequently asked questions

Questions & Answers

The most frequently asked questions from our practice are summarised here. If you can't find the right answer, please book a non-binding consultation appointment.

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Questions about buying a property

What is the total cost of the property (including all ancillary costs)?

In addition to the pure purchase price, buyers must expect additional costs, which can vary depending on the federal state. These include land transfer tax (in Berlin, for example, 6 % of the purchase price), notary and land registry costs (around 1.5 %), possibly a broker's commission (in Berlin often 3.57 % including VAT) and financing costs if a mortgage is taken out. In total, you should plan for an additional 10-15 % of the purchase price.

Running costs include operating costs such as water, heating, rubbish collection, insurance (such as homeowners' insurance) and maintenance reserves for owner-occupied flats. These are usually summarised in the so-called house allowance. In addition, there may be costs for electricity, internet and any special levies for maintenance work. It is advisable to ask to see an economic plan or a current statement of operating costs before buying.

For existing properties, it is important to check the structural condition carefully. This includes looking at the roof, heating, windows, façade and electrics. The energy performance certificate provides initial indications, but additional reports or the opinion of a building expert are often helpful in order to better estimate the subsequent costs. If there is an obvious need for refurbishment, this should be included in the financial planning.

The energy performance certificate is mandatory and shows the energy consumption or requirement of the property. Good energy efficiency means lower ongoing heating and energy costs. It is worth taking a critical look at insulation, windows, heating systems and the use of renewable energies, especially in older buildings. In some cases, state subsidy programmes can also be used for energy-efficient renovations.

If the property is already let, the buyer takes over the existing tenancy (purchase does not cancel the tenancy). Cancellation for personal use is generally possible, but is subject to strict legal requirements. If you want to move in yourself, you should therefore make sure that the property is actually vacant when you hand it over. For capital investors, on the other hand, existing tenancies are often an advantage.

The seller is obliged to disclose known defects. Nevertheless, buyers should actively enquire themselves and take a look at the extract from the land register. Encumbrances such as rights of way, residential rights, easements or land charges may be registered here. Any existing encumbrances or building charges should also be checked with the building authority. A comprehensive inspection protects against unpleasant surprises after the purchase.

It usually takes around 8 to 12 weeks from the first viewing to the final transfer of ownership. Once the purchase price has been agreed, a notary is commissioned to draw up a draft purchase agreement. Once it has been signed, the notary arranges for the priority notice of conveyance to be entered and organises the payment process. Only once the purchase price has been paid in full is the transfer entered in the land register. In individual cases, e.g. delays with banks or authorities, the process may take longer.

Solid financing should be in place before buying a property. Banks generally require 10-20 % of equity. There should also be a buffer for incidental costs. A financing confirmation (often referred to as a loan commitment) should be available by the notary appointment at the latest. Buyers should compare offers from different banks and pay attention to the interest rate, repayment, special repayment options and subsidy programmes. Early financial advice also creates clarity and planning security.

In many cases, it is possible to negotiate the purchase price - especially if the property has been on the market for a long time or if there are recognisable defects. A realistic counter-offer, well justified by market analyses or necessary renovations, increases the chances of success. Sellers often do not expect the asking price, especially if they are under time pressure. Professional advice can help to find the best strategy here.

The notary reads out the entire purchase agreement and explains the key points so that both parties understand what has been agreed. The purchase contract only becomes legally valid once it has been signed. The notary then enters the priority notice of conveyance in the land register and monitors the payment process. Once the purchase price has been paid, the final transfer of ownership takes place. The notary ensures that all steps are legally compliant and in the interests of both parties.

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How much can I afford?

Use our simple budget calculator to find out in just a few steps how much equity and what monthly contribution you need to finance your property.

Budget calculator

How high are the ancillary costs?

Use our additional costs calculator to quickly determine the additional costs such as notary fees, land transfer tax and any estate agent fees.

Service charge calculator

How high are the interest costs?

Use our interest calculator to calculate your monthly instalments and the interest costs incurred for your loan in detail.

Interest calculator

Should I rent or buy?

With our comparison calculator for renting or buying, you can quickly find out which option is more favourable for you in the long term.

Comparison calculator

Questions about selling a property

How do I determine the right selling price for my property?

A fair market valuation is crucial. Factors such as location, condition, size, fittings and current market trends are taken into account. Professional estate agents or independent experts offer well-founded market price analyses. Too high a price deters buyers, too low a price leads to financial losses.

Important documents are: current extract from the land register, parcel map, energy certificate, building plans, floor space calculation, declaration of division (for condominiums), minutes of owners' meetings, utility bills and proof of modernisation.

Both are possible. An estate agent offers professional marketing, realistic pricing, experience in negotiations and relieves you of a lot of work. If you sell yourself, you save on estate agent costs, but have to invest time and expertise in viewings, marketing, negotiations and handling.

Depending on the location, price and condition, a sale takes an average of 3 to 6 months. In highly sought-after regions, it can be quicker, while special properties or properties with defects take longer. Realistic pricing and good preparation speed up the sale considerably.

As a rule, sellers bear the costs for obtaining the necessary documents, possibly for minor repairs or home staging, as well as half of the estate agent's commission (if an estate agent is involved, which is common since the new regulation on shared commission). There are also costs for the notary and any early repayment penalties for existing loans.

The energy performance certificate must be presented at the latest at the viewing and handed over at the time of sale. Fines may be imposed without a valid energy performance certificate. Owners should apply for an energy performance certificate at an early stage if one is not yet available (consumption certificate or requirement certificate depending on the type of property).

This depends on several factors:

  • Private sellers are generally tax-free if they use the property themselves for at least 2 full calendar years plus the year of sale.

  • The speculation period of 10 years applies to letting: Only after this period is a sale tax-free.

  • If sold before expiry, income tax is payable on the profit. If in doubt, a tax advisor should be consulted.

After the valuation, the property is professionally marketed. Potential buyers are examined, viewings are organised and purchase negotiations are conducted. Once agreement has been reached, a notary appointment is arranged. The notary draws up the purchase contract, which is signed by both parties. Once the purchase price has been paid, the property is transferred to the buyer in the land register.

Minor repairs and cosmetic repairs are almost always worthwhile as they create a better impression. Extensive renovations should only be carried out if they significantly increase the selling price or make the sale considerably easier. A tidy, freshly painted property is often enough to make the best impression.

A buyer is only binding after notarisation and payment of the purchase price. Prior commitments are non-binding. If the buyer defaults after the notarisation date without justifiable cause, claims for damages may arise. In order to avoid risks, the solvency of the buyer should be checked at an early stage (e.g. by means of a financing confirmation or bank information).

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Questions about the valuation of a property

If you cannot find an answer, please book a non-binding consultation appointment.

How is the value of my property determined?

The property value is calculated on the basis of location, size, condition, year of construction, fixtures and fittings and potential uses. Different methods are used depending on the type of property: the comparative value method (for condominiums and single-family homes), the capitalised earnings value method (for rented properties) or the asset value method (for special or owner-occupied properties). A professional valuation combines market data, experience and individual property characteristics.

Market value and fair market value are basically identical - the term "fair market value" is used in the German Building Code (§194 BauGB) and describes the price likely to be realised in a sale under normal conditions. "Market value" is the more practical term for the same value. Both reflect what a buyer would currently be prepared to pay for the property.

Location is one of the most decisive factors. A distinction is made between macro-location (e.g. city, region) and micro-location (e.g. neighbourhood, street section, infrastructure). Good connections, quiet surroundings, proximity to schools, parks or local amenities have a positive effect. The development prospects of the location can also influence the value.

A good structural condition increases the value, while the need for renovation reduces it. Important criteria are the age and condition of the roof, façade, windows, heating, electrics and sanitary facilities. Modernisation, energy-saving measures or high-quality fixtures and fittings all have a positive impact on the valuation.

Online valuation tools offer initial rough guide values based on location and property data. However, they are no substitute for a well-founded valuation by an expert, as they do not accurately take into account individual features such as condition, fixtures and fittings or special uses. A personal valuation on site provides much more accurate results.

Online tools work with statistical averages. An experienced estate agent, on the other hand, knows the regional market, takes into account the emotional impact of the property and recognises potential or defects that algorithms do not detect. This can lead to differing estimates - the estate agent's assessment is often more realistic.

In the event of a planned sale, asset statements, divorce, inheritance or financing, an up-to-date valuation makes sense. In stable markets, a review every few years is sufficient. In dynamic or highly fluctuating markets (as is currently the case in some major cities), an annual revaluation can be helpful.

You will need an extract from the land register, cadastral map, building plans, floor space calculation, energy performance certificate, photos and details of modernisations, refurbishments or fittings. The more complete the documentation, the more accurate the valuation can be.

A simple market price assessment by an estate agent is often free of charge if there is a prospect of a sale. A court-certified market value appraisal by a publicly appointed valuer, on the other hand, costs between 1,000 and 3,000 euros, depending on the value of the property. Such an appraisal is often necessary for tax or legal purposes.

Yes, property values are subject to market fluctuations. Reasons for an increase can be: Location appreciation, excess demand, modernisation or new infrastructure projects. Reasons for a fall in value include: economic downturn, rise in interest rates, building damage, political uncertainties or negative developments in the neighbourhood.

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How we as brokers can help

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Documents for the property purchase

Well-prepared documents are the key to success when selling a property. We support you in compiling all the necessary documents.

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