How to buy a house in Germany as a foreigner?
Germany attracts many who want to buy real estate in Europe. This is the opportunity to have a second home or flat in a developed and stable European country, and relatively low prices for apartments of every class and the possibility of further development and shaping of life in Germany. In German universities, for example, education is free for everyone. But with your own apartment, you can really feel at home in the country. In addition, the availability of your own home can be helpful in developing your business in Germany. Another reason why the country is attractive to investors in real estate is the simplicity of the deals.
The process for buying property in Germany is completely transparent, uniquely regulated by law and easy to understand. The law, however, sees no difference between German citizens and foreigners, they are completely the same. The existing procedure protects the interests of absolutely all parties: the seller, the buyer, the intermediary, etc. The procedure for registering a property in Germany As a rule, the registration of transactions with real estate in Germany takes 2-3 months.
In general, the process looks like this. You choose which property in Germany you want to buy. It could be an apartment or a house, a hotel or a shopping center, etc. Pay attention to all the properties of the property: the area, location, year of construction, quality of accommodation (modern houses and apartments are more expensive, but their operation will cost you much cheaper and the demand for them will be higher). The notary contract sometimes makes a down payment (from 1 to 5%). All the money needed for a real estate transaction in Germany is controlled by a notary – it protects the interests of both parties. Next, the buyer has about one month to transfer the balance to a special bank account (it is also managed by a notary public). Which checks the selected property: whether it has debts or other obligations.
The buyer can always find all the information about the house or apartment, as it is done in Germany a single register of real estate, which is included in exceptional cases. After full payment and signing of the purchase contract, you become the complete owner of the house or apartment. Only after the transfer of ownership does the seller receive his money.
The notary prepares all papers, sends the necessary data for the registration. And in 2 months you will receive official documents, which are registered in the register with the allocation of the registration number. Dispose of your property as you wish, you can immediately after payment of the total amount for the object and the tax on the purchase of this property, which is between 3.5 and 6%, depending on the property in Germany. You can rent and from time to time you can live with your family in Germany. The purchase of property does not entitle to permanent residence, but the owner of a house or apartment receives a visa.
