Investors always look for an opportunity to buy foreign real estate. As German economics is really promising, many buyers consider investing there.
You may buy property in Germany even if you are a non-resident. There are no special restrictions and such bureaucratic regulations as in Austria, for example. Even financing is possible under certain circumstances but loan cannot be expected to exceed 60% of the buying price. Buying a flat in Germany also simplifies considerably obtaining citizenship.
Assess financial prospects of the object before you consider its purchase. You do not need to leave your country to do this. Our agency will help you in this regard.
The most popular are the objects near big office centers. Rent yield is considerable as there are a lot of foreigners working in Germany: cultural figures, medics, marketers, etc.
Most expensive are apartments in cities with a rich historical heritage, cheaper ones - in industrial areas.
After defining your financial limits, you can focus on searching. View property personally to ensure that its description is true.
When property is chosen, you can sign an agreement. To minimize your risks define the following important things in a contract:
- the names and addresses of the parties and the details of the property, as later an error could invalidate the contract
- purchase price and terms of payment
- stipulations as to what happens in the event either party fails to live up to the terms of the contract
At the actual signing ceremony the notary reads the contract of sale verbatim in the German language. Usually purchase procedure takes 2 months.
How to buy