How to sell real estate in Germany to a foreigner?
Sell apartment or other real estate in Germany, Coronavirus and crisis, what awaits the real estate market in Germany?
What will happen to real estate prices in Germany in 2020/2021?
How to sell real estate in Germany to a foreigner, such as a Russian citizen?
How long will it take to find a buyer?
Taxation in Germany or Russia and to what extent?
What costs and taxes does the seller have to pay as a foreigner in Germany and at his place of permanent residence - Russia, Ukraine, in Eastern Europe?
Answering the questions
When and how to sell a property, apartment or house in Germany to a foreigner?
1 Option: if you decide to use the services of a broker in Germany, in this case you provide a power of attorney to collect all the necessary documents that will be required for the sale, as well as consent to search for a buyer, the organization of the necessary views of your property, negotiations with buyers and support the transaction.
You negotiate with the broker the maximum and minimum cost of your property, the terms of sale. If desired, the seller can write a power of attorney for the sale of his property in Germany, indicating the terms of sale, the price of the property, the number of the bank account where the buyer will have to transfer the money.
When a buyer is found, the notary sends the contract of sale of the property to the broker, the seller and the buyer for review. The Buyer or Seller may come in person to sign the contract of sale with a notary, or may issue a power of attorney for sale / purchase to any authorized person.
After signing the contract of sale, the notary in Germany monitors compliance with the terms of the contract, after the buyer transfers the money to the notary's account or directly to the seller and they confirm receipt, the final entry is made in the Land Register and the property is transferred to the new owner.
In this case, the services of the broker/ real estate agency are paid according to an agreement depending on the conditions and type of property.
2 Option: this is when you sell your property yourself without hiring a broker, place an advertisement on major real estate portals, agree on the display of your property, notary, contract of sale and transaction.
What happens to the real estate market in Germany after the coronavirus pandemic? Are real estate prices going to fall?
What should a real estate seller in Germany know?
- Term of sale of residential property in Germany 3-8 months.
- The broker's services are paid by agreement from 4-7% depending on the object (agreed in advance).
- The seller may not come to Germany for the transaction, if he draws up a power of attorney.
- When selling real estate in Germany, speculative tax is paid.
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