Real estate

Buying a house or apartment is not an everyday transaction. Instead, such a purchase, especially for private individuals, is often equated with a significant investment intended to serve as a retirement provision. Our notaries in Wiesloch are your contacts in matters relating to the purchase and sale of property.

This usually involves a lot of money for buyers and sellers. To protect both parties from losses and unwanted surprises, the law stipulates that purchase contracts for land, houses, and condominiums are only valid if a notary seals them.

During the notarization, the contract text is read out in full and explained. The deed is then signed by all parties involved, including the notary.

The notary then coordinates the payment transactions between the buyer, seller, and banks.

If apartments or houses that have not yet been completed are sold, the seller is called the developer. When buying from a developer, the buyer pays according to the construction progress, i.e., in installments.

This prevents the buyer from paying the entire purchase price without having an actual counter value in the form of the constructed building.

The final installment is only due once all defects have been rectified. If defects still occur in the building after acceptance, the developer is liable for five years.

Such a property development contract offers advantages to both the developer and the buyer: The developer has planning security and saves interest, as he has to take out a lower loan due to the buyer's installments.

This makes the property more affordable for the buyer, who also has the opportunity to help design it. Because the property for sale is not yet completed and, therefore, not accessible, a detailed building description and construction plans are particularly important.

The buyer should obtain these documents in good time and read them carefully.

These documents are either attached as an annex to the notarized purchase agreement to be concluded or have already been set out in a separate notarial deed in preparation for the subsequent purchase agreements. We will be happy to advise you and accompany you through the notarial process.

Instead of inheritance, assets can be transferred during your lifetime. For example, parents often wish to transfer their property to their children during their lifetime.

This way, inheritance tax obligations can be avoided, and gift tax allowances can be used effectively. However, before a decision is made, all advantages and disadvantages should be carefully weighed.

One disadvantage of a lifetime transfer is, for example, that the seller is deprived of the property. We will be happy to advise you on the possible contractual arrangements in a personal meeting at our law firm in Wiesloch.