If you need some time to think about your offer, to get further advice, or to seek financing approval, the property you are interested in can be reserved, free of charge, for up to three weeks.
If necessary, the help of an independent solicitor can be sought. By signing a Power of Attorney authorisation (POA) relating to the property, the solicitor can act as your representative in all legal matters and as authorised recipient. After this, the purchasing process can begin.
International investors can finance up to approximately 70% of the total investment through a German lender. If in need of credit, financing conditions can be negotiated with your favoured finance provider, and repayment schedules arranged.
A draft contract will be drawn up and provided for your approval. This will include our expert risk assessment (Due Diligence). In accordance with German law, after the fifteenth day of receipt, the contract can be signed.
The purchase contract must be certified by a notary. The buyer (or buyer’s representative), and seller sign the contract in the presence of the notary to officiate the sale.
When purchasing a property in Germany, the buyer bears the transaction costs. These costs include the property transfer tax (6% of the purchase price in Berlin; 3.5% in Leipzig), the notary costs (around 1-1.5%), registry charges for property (approx. 0.5% of the purchase price) and the applicable estate agent’s commission (all EverEstate properties are commission-free).
To ensure a hassle-free investment period, administrative services can be provided by our partner agencies. A property management team or letting service will act as the link between tenant and owner, and ensure the smooth running of the property.
Once financing is approved and purchase completed, the final handover takes place. Congratulations on acquiring your own property!