A non-complicated process with a twist. Whether you are a successful businessperson who can’t spend a day without a good investment or a dreamer who wants to live nearby Disney Castle, Germany fits your tastes in every case.
But how to become a property owner in the land of strict laws and red tape jungles? Worry not, cause today is the day you finally get the secret formula.
Who can buy and own property in Germany?
A citizen of any country has the right to purchase a home, an apartment, a land plot, or even a warehouse in every federal state of Germany.
A legal entity needs a document from the Chamber of Commerce (Handelskammer) to own the property. The document confirms that the company’s activities are legal.
Do I need a realtor?
In Germany, the participation of a realtor in a transaction is optional. You can choose apartments and houses for sale in Germany without help. But foreigners often turn to real estate agencies due to the language barrier and insufficient knowledge of local laws.
A realtor in Germany:
- Negotiates with the seller.
- Provides advice on the selection of housing.
- Resolves issues with banks.
Please note! Real estate activity in Germany is licensed. Therefore, ask if the specialist has a permit to conduct brokerage activities by §34 GewO.
Confirmation of the realtor’s professionalism is also his membership in the Association of Brokers in Germany (Verband Deutscher Makler).
Signing a contract of sale is not everything. A notary takes care of the owner’s rights and fixes the ownership in the land register.
The notary is a necessary link in buying property in Germany. They will check all aspects of the transaction, after which will apply for changes.
Many people use a notary to arrange the settlements. In this case, the money is transferred to the notary’s escrow account (notaranderkonto) and stored until the final steps of the sale.
Find the list of all licensed notaries in Germany on the website of the Federal Notary Chamber.
How easy is it to buy a home in Germany?
The purchasing process takes four simple steps.
Step 1. Open a bank account and check the object
In Germany, you can pay for the transaction from either a German or any other foreign account.
There are no legal obstacles for foreigners to open accounts in German banks, but the buyers’ financial past must be clean. You must be present to verify your…
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