What happens after I sign the purchase agreement at the Notary | Ajay Dhingra | Ghar in Germany

[@alikerimerkan]

Thank you sooo much for this information. The level of buerocracy in Germany shows itself like a godzilla when it comes to buying a home.

[@raviansh8738]

Thank you, good informations

[@aniluckunkaya]

hey Ajay, thanks for the great video! After receiving the Fälligkeitsmitteilung, how is the payout triggered for the seller to receive the amount in case the the mortgage covers 100% of the purchase price? Does the Fälligkeitsmitteilung need to be sent to the bank?

[@gharingermany]

Yes… we send - the Fälligkeitsmitteilung, - the notarized purchase agreement as well as - the signed sign-off letters to the bank

[@raviranjankishor8960]

Hello Ajay thanks for such an informative video. I have a question regarding a land purchase for Doppelhaushälfte which I did last year. Is property insurance also applicable?

[@gharingermany]

If it’s only the land (without building) then you should be looking at landlord liability insurance (Grundbesitzerhaftpflicht). If you are preparing to build you should be considering: Bauherrenhaftpflicht, Bauleistungsversicherung and a Feuerrohbauversicherung.

[@rohit1408wadhwa]

Hi Ajay, thanks a lot for the details. I always find your content well defined and detailed. It helps a lot. I have a question: Is it right, that a potential buyer of an apartment is not supposed to pay any fee or taxes for covered parking, kitchen and own garden? Especially in the following scenario: Binding purchase contract (prepared by a property agent) has been signed by the potential buyer without discussing the breakup of the price i.e. how much for apartment, own garden, covered parking, kitchen etc. ? Is it too late? Or the binding purchase contract can be edited by the property agent and again signed by the seller and buyer? Kindly provide some clarity with the following example: let say the advertizement/expose shows EUR 250000 for an apartment with own garden, celler, fitted kitchen and covered parking. Looking forward to your reply. Thanks

[@gharingermany]

Hi Rohit, Thanks for your question. The binding purchase agreement is only binding once you sign it at the notary. Everything before that is just a draft. The broker has NO say in what the seller and buyer agrees on - although he might facilitate or mediate the discussion. Btw: parking spot, garden is deemed as immovable property- hence you’ll definitely pay all fees and taxes on them. Only exception on your list is the kitchen. Here the land transfer tax will not apply (other fees will). But be careful what you wish for: some banks do not finance the kitchen. So please discuss the breakup with your home loan consultant _before_ applying for a loan.