The process of buying a Berlin property usually takes from 1 to 3 months.
For tenanted properties in Berlin, a legal option of purchase at same price is granted to the tenant of up to two months which could result in a longer purchase period. Please, note that in Germany there is no necessity of pre-sale purchase contract and that only a single appointment at the notary office is required.
Also, it is possible to conclude the purchase of a property in Berlin with only one travel to the city.
- Reserving the property: the reservation of a property in Berlin generally implies a downpayment of 0.5% to 2% as reservation fees. This downpayment will then be deducted later from the purchase price or from the agent brokerage fees.
- Ordering the contract: after the reservation, the buyer orders a purchase contract from a notary office of his choice or from the notary of the project in which your Berlin property is located. Our estate agent in Berlin could refer English-speaking notary offices which would facilitate the communication for the property buyer.
- Signing at the notary office: following the contract order, our estate agent in Berlin coordinate the transfer of administrative and legal documentation to the notary as well as the signature modalities, (with a sworn translator, with a translated contract, with a power of attorney or with a legal firm representative - according to the preferences of the buyer).
- The finalization of the sale: following the signature of the contract, the notary takes care of the entry of the name of the new owner in the land registry, the deletion of any mortgage or pledge and the supervision purchase price payment) and the final transfer of ownership.
During this process, our estate agent in Berlin will assist you throughout the purchase management process on understanding the administrative documentation and the steps to follow to finalize your property purchase in Berlin under the best conditions.
Purchase legal costs for buying a Berlin property amount to approximately 7.8% of the property purchase price. It consists of land registry fee, land register entry fees (6% plus 0.5% of the purchase price of the apartment in Berlin) and the payment of notary service (variable for about 1.3%). Please, note that these costs are spread over several payments.
In addition to our support during your Berlin property purchase process, our estate agent in Berlin is at your disposal for the explanation of the procedures to follow and to assist you until the handing of the keys and the inventory of your property in Berlin.
For an investment property in Berlin, we also organize for you the new rental contract and / or the transfer to the new property manager (if the property is already tenanted).
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