The purchase contract, approval with the notary public and enrolment in the official property register or “Grundbuch”.
The legal ownership of a newly built or existing house can only be obtained when acquired in combination with the plot of land on which the property is built. He who acquires a plot of land, with this automatically also the housing(s) erected on this plot. The plot of land is however always subject of a (separate) purchase contract.
For the ownership transfer of real estate in Germany one always needs the approval by a notary public. Not only the “Auflassungsvormerk” (agreement between buyer and seller), but also the official purchase contract need the documentation by and the approval of a notary public. Legally a verbal agreement is in Germany not binding. The Hollander-Makler, however will actively guide you through this whole legal process and prevent you for pitfalls.
Documentation and approval of the purchase contract with the notary public.
With the transfer of property to a new owner in Germany one always signs with the notary public always two contracts, a “Kaufvertrag” and an “Auflassungsvormerk”.
An “Auflassungswormerk” or ground for rescinding the contract is an integral part of the formal purchase contract. This is because these possible rescinding grounds are only checked after that the purchase contract has been “passed” by the notary public. A “Spervormerk” or blockade is applied to prevent the seller form selling or “moving” the property to another or 3rd party or use it as a collateral.
Prove of this “Spervormerk” is one of the conditions which has to be submitted to the notary public before any “Fälligkeistmitteilung” or payment claim can be applied.
The Hollander-Makler will on forehand present you a concept contract dealing with all these aspects. It will allow you to check price, situation, layout and other essential conditions related to the object you intend to acquire are in accordance with the promises and what you expect. In case of discrepancies you will be offered ample time, supported by the Hollander-Makler, to iron this out with the parties involved.
Provisional Purchase Contract
In the Netherlands it is common use to include a resolutory clause in the contract which allows the buyer to step down from the purchase when he is not in the position to obtain finances to close the contract.
In Germany no provisions for such clauses in the contract are used. Therefore it is essential that you, together with the Hollander-Makler, prior to the start of the formal purchase process check whether you will be able to finance the acquisition of the property. However, it is possible to prepare, together with the notary public, a separate agreement in which you get a specified time allowance to get finance for your object. But also in this case we recommend you to use the services of the Hollander-Makler.