You want to sell your property and are looking for a really good real estate agent? Only who can be recommended and who really keeps what he promises? You should know that the recommendation only takes into account brokers who are proven to be successful and have received many positive customer ratings.
There is a multitude of criteria into account when selecting the right broker. In particular, it is ensured that the broker:
For an overview of the most important criteria for selecting brokers, see Broker Valuation.
The recommendation does not entail any costs. On the contrary: the real estate agent evaluates your property free of charge and takes the time to answer all your questions regarding the sale of your property. A local broker’s commission is only due in the event that you commission the broker and he successfully sells your property.
The recommendation is not binding, i.e. you are free to decide whether you want to commission the recommended real estate agent or not.
Household contents insurance is particularly recommended if you have just bought a house and it is completely newly furnished. Here the replacement value of the items is still so high that a new purchase would lead to considerable financial losses in the event of damage. In order to counteract a financial overload, a household contents insurance is therefore of great use.
Here the damaged property is covered by the insurance at replacement value. The injured party therefore receives the financial means he needs to replace the destroyed property in the same quality. It can be new things, which correspond to the current market price and are on the newest technical conditions.
The biggest difference between liability insurance and a household insurance is that the liability insurance covers the damage caused by one person to another. However, household insurance compensates for the damage caused to you.
The following damages are insured by:
What exactly is insured?
The insurance covers all objects in the household that are movable, i.e. all objects that you would be able to take with you when you move house.
For example:
Furniture, carpets, books, pictures, electrical appliances, computers, notebooks, cameras, cameras, kitchen appliances, clothing, bags, shoes, watches, jewellery, works of art, antiques or cash.
Sports equipment, car accessories, food and pets are also insured.
What exactly are valuables and how are they insured?
The term “valuables” is firmly defined within a household insurance policy.
Often these include:
Your own household also includes your own household contents insurance. This covers damage caused, for example, by theft, fire or water.
If you have your own apartment and have valuables, then for you as a student, household insurance is part of the basic equipment along with health and personal liability insurance. If you still live with your parents during your studies, you can assume that your personal belongings are covered by your parents’ household insurance.
Basically, household insurance covers damages caused by fire or lightning, burglary, theft, vandalism or damage to tap water. Storm and hail damage is usually also covered by household insurance. In concrete terms, this means that the insurer replaces the replacement value of the destroyed objects after a fire, water damage or similar. If one repair is sufficient, the insurance pays for the costs.
A special feature applies to jewellery. It is not regarded as a normal object of value, but is considered separately: In the event of a loss, insurers often only pay a maximum of 20 percent of the agreed sum insured. So if you have expensive jewellery at home, you should consider raising the insurance limit for an extra charge or renting a safe deposit box from your bank.
So get good advice so that you don’t include unnecessary (and expensive) services in your contract or – vice versa – exclude important risks.
You only have a small student dorm and not so many valuables to insure? Then the sum insured of your student household insurance does not have to be high. Please note: The sum insured is the maximum amount that the insurer must pay according to the contract in the event of a claim. It is definitely worth it for you to estimate what you actually want to insure. A six-figure sum insured is probably unnecessary.
If you only have a computer, a bicycle and a few more expensive furnishings, then you can get by with a sum insured of a few thousand euros. But you shouldn’t calculate too tight: A so-called underinsurance can be expensive at the end of the day. You are underinsured if the sum insured is significantly lower than the value of the insured items.
Your risk: In the event of a claim, the insurance company can reduce its benefits by the factor of underinsurance. However, you can avoid this risk by having a clause on the so-called underinsurance waiver written down. The principle: A fixed amount per square meter (650 to 700 euros) is used to determine the lump sum insured, which is paid out in the event of a claim.
As a student with a manageable monthly income you have to pay attention to the costs. One way to reduce the cost of household insurance is to agree on a higher deductible. In plain language, this means that in the event of a claim, the agreed deductible will be deducted from the benefit.
Bicycles are an important topic in household insurance. In most cases, bicycle theft protection costs extra, and some insurers already include a flat-rate sum for bicycles. For a 500 Euro bike you can expect a surcharge of about 20 Euro. Important: Not every theft clause provides round-the-clock protection. If you want your insurance to pay even if your bike is stolen outside the door at night between 10 p.m. and 6 a.m., then you should make sure that this is in the contract and agree on a so-called night cover. Important: Your bike must always be secured with a separate lock. Otherwise the insurance does not pay at all.
Most household insurance policies also cover items stolen outside your own home. The clause in question is called external insurance. For you, this means that valuables such as your smartphone, sports equipment or clothing are insured against theft.
Prerequisite: The room in question – for example your hotel room or the changing room of a sports hall – is locked. The maximum amount of compensation is usually limited for external insurances. It is therefore worth paying attention to this value in the contract.
You own a rented house and are considering selling it? Then you should approach the sale of the property well informed so that it runs smoothly and an appropriate selling price is achieved. We have compiled the 9 most important questions and answers on the subject of “Selling a rented house” for you, so that you can quickly get an overview.
A house ties up a lot of equity if you rent it out instead of selling it. It is precisely this equity that can usually be used more economically elsewhere. For this reason, large-scale investors do not invest in single-family or semi-detached houses, but rather in apartment buildings, condominiums or commercial properties. As a rule, you will achieve a significantly higher rental yield if you invest the sales proceeds in several condominiums and then rent them out, as you can achieve higher rental income converted to the square meter. In addition, the maintenance costs for a house are higher and the owner has to take care of more – partly because of the garden. In the case of a condominium, the property management often takes over a large part of the organization.
A simple reason for a house sale can of course also be that you need the equity capital. If you decide to sell your rented house, you have various options for using the proceeds of the sale and can spread your assets more widely than before – for example, by using the proceeds for investments on the stock markets, for example through appropriate investment funds. Alternatively, you can also do something for your old-age provision and, for example, secure a lifelong pension by taking out a single-premium fund policy. Which solution is right for you depend on how you are generally financially positioned and where you have already invested? If necessary, call in a financial advisor of your choice and let them inform you about the tax advantages and disadvantages of the various investment options.
Almost all houses are bought by owner-occupiers who want to move in themselves. If you, as a buyer, decide to purchase a rented house, you will have to reckon with a certain amount of effort, which you will incur by cancelling your tenancy agreement with the previous tenant: Purchase does not break rent. Because of this, prospective buyers usually demand a price reduction; after all, it can take a while before they can take over the house. In this respect, it can be interesting for potential buyers to consider buying a rented house if a lower purchase price can be negotiated. Of course, the tenant may also be interested in buying the house.
Whoever buys a house usually wants to live in it himself. If it is still rented, the buyer must therefore set some in motion and terminate the lease – because this continues to exist also with a sale. However, the buyer assumes all rights and obligations under the lease. Since a termination of the lease is subject to some uncertainties, the buyer takes a risk. The only argument for buying the house nevertheless is the purchase price. You must therefore be prepared for the fact that you will have to set the purchase price around 20 to 30 percent lower if you want to find a buyer. Under points 8 and 9 on this page you will find important information that counteracts this problem!
When selling a commercial property, there are a number of special features to consider, e.g. tax aspects. On this page you can find out how the sale of a commercial property differs from the private sale, how you can best proceed for the sale and how a professional commercial broker can best support you.
Would you like to sell a commercial property? The first question is what kind of property it is. There are many different types of real estate that are used commercially. What they all have in common is that the tenants do not use the premises for residential purposes, but for business purposes.
Examples of commercial properties are:
The properties are as diverse as the commercial activities themselves. However, the following applies to all of them: the properties can either be sold freely or let.
As a rule, a higher rent per square meter can be achieved for a rented commercial property than for a residential property. Anyone wishing to sell a commercial property should therefore ensure that the property is very well let. Vacant commercial properties are difficult to sell because buyers are afraid that the property cannot be rented out or only at very low rents. Of course, a buyer could also buy the property freely and use it himself, but most companies prefer to rent real estate rather than become owners themselves.
The potential interested parties for the purchase of a commercial unit can always present the concrete commercial rental contracts in order to be able to estimate the sustainability of the rental income. In contrast to a rental agreement for residential space, the parties to a commercial rental agreement are much freer in the drafting of the contract. Contracts often run for three or five years, sometimes up to 10 years. In practice, most tenants are given an option to extend the commercial lease at the end of the contract term.
If a buyer of a commercial property does not wish to use it himself, but would like to hold it as a capital investment, the following questions regularly play a central role in the purchase decision:
The amount, durability and security of rental income for commercial properties depend primarily on the location of the property. A shop in a prime location is always easy to let. A shop in a less frequented side street, on the other hand, is not secure.
Of course, the condition of the property also plays a role in its let-ability. As with other properties, every future owner will consider what maintenance costs will be incurred in order to keep the property in an attractive condition for tenants.
But the financing aspect is also playing an increasingly important role today. Since the financial crisis, banks have insisted even more strongly on a high equity ratio in the purchase price financing of commercial real estate. Today, an equity ratio of 40% and more is more the standard than the exception. Background: The risk of loss of rent is generally estimated to be much higher for commercial real estate than for residential real estate.
Are you the owner of a rented apartment and considering selling it now? Here you will find exclusive tips that will help you prepare the sale process well and implement it professionally. Please also note other tips and important information on the sale of vacant apartments under Apartment Sale.
If you want to sell a rented apartment, you can turn to two possible target groups:
Although the sale of the apartment to the first target group is very interesting for the seller in the event of success, it is difficult to realize in practice. This is because a buyer of a rented apartment can only use it if he cancels the existing tenancy beforehand due to his own needs. In addition it must justify the notice in detail and count on the fact that the notice of termination is subjected to a possible judicial examination. It often turns out that the reasons listed are not sufficient for termination. Because notices of termination can cost time and money because of personal needs and also the moving in time is not exactly calculable in the case of success, potential owner-occupiers are hardly interested in the purchase of a rented dwelling.
Before the sale, it makes sense to find out the value of the rented apartment by means of a property valuation. The following checklist shows you which documents are required in advance.
The best way is to sell a rented apartment as a capital investment, i.e. to turn directly to investors. It is important to convince the investor that he can already generate an interesting return on equity during the holding period of the apartment, but at the latest with a later sale of the apartment. The return on equity of a rented property can best be illustrated from the point of view of a buyer using an example.
Please remember that rented apartments are not marketed like vacant apartments. For example, these are listed in a separate section of the online marketing portals (e.g. investment properties). Also rented flats are sold more strongly on the “paper” (over net yield calculations). Thus a prospective buyer receives usually also only then a inspection date, if he is seriously interested and one spoke with him also already in detail about the dwelling.
In this way the tenant does not have to be constantly disturbed. There are even capital investors who buy an apartment without visiting it if they have been advised in great detail. Since advice is crucial when selling a rented apartment, sales talks should only be conducted by people who have frequently sold capital investments. Therefore, you should only contact brokers who regularly sell investments.
Anyone who already deals with the drafting of the sales contract for their house or flat during the sales process is usually on the verge of notarization. But beware: it is not uncommon for the sale of a house to fail if the parties do not agree. Or there may be agreements that delay the sale of the property or have a negative effect on you later on. Because: in the real estate sales contract all important details (not only the selling price) of the transfer of ownership to the buyer are defined.
After successful sales negotiations, a sales contract should contain everything that the seller and buyer have agreed. For this purpose, the contract should form the basis for the sale and protect buyer and seller from risks. All other agreements do not otherwise have any legal validity.
A real estate agent can help as an expert with the preparation. A legal obligation only arises when the contract is signed – which is then certified by a notary.
The notary is a public official and acts as a neutral intermediary between the seller and the buyer. His task is to organize and legally secure the transfer of ownership in accordance with the ideas of the contracting parties. A legally binding sale of real estate only takes place with the signing of a notarial purchase agreement. Possible other agreements in advance, verbally or in writing, do not entitle or obligate the parties to anything. Also so-called written lectures are ineffective.
Seller and buyer first receive a draft contract from the notary and can critically examine it before certification. Minor changes can usually also be made during notarization. Before you sign the purchase contract with the notary together with the buyer, you should make sure that you have regulated all details of the transfer of ownership as clearly as possible so that there are no ambiguities or legal disputes later.
It is equally important for real estate buyers and sellers to know what must be included in a real estate purchase contract and thus define their rights and obligations. As a rule, the seller’s real estate agent takes care of drawing up the purchase contract and sends it to the buyer for inspection.
Buyers usually do not need to worry, even if these contracts seem complex and extensive, because they are standard contracts in which only special features such as the sale of a fitted kitchen are supplemented. With the help of our 15-point checklist for the real estate purchase contract you can check point by point whether all important aspects are present in your purchase contract.
Many real estate owners decide to sell their house or apartment themselves – often with the idea of saving the broker’s commission and selling the property quickly. However, great care must be taken here, because things can go wrong without the appropriate know-how. We will show you the biggest mistakes in selling real estate without a real estate agent and how you can avoid them.
Quickly post an ad on the Internet and see what happens: With this attitude you will most likely not find any prospective buyers or sell your property far below its value. A well thought-out plan must be drawn up before the sale advertisement is published.
Preparatory measures include:
Preparing answers to possible questions from prospective buyers
Many homeowners take the purchase price they once spent as the basis for their property valuation and hope to at least recover the sum invested at that time. In fact, this can be far below or above. Decisive for the amount of the selling price at the end are supply and demand at the time of the real estate sale. To foresee this requires a lot of experience.
One basis for the selling price is the value of the property: in order to determine this, you can analyze the local property prices and comparable properties. However, a reliable and objective value can only be obtained from a trained and certified appraiser.
Nobody wants to buy a property that already looks uncomfortable and untidy on the photos.
Placing an online advertisement on one of the numerous real estate portals is usually not sufficient. Instead, use four or five portals and one or the other regional newspaper to expand your target group. In your neighborhood, you can use flyers and a “For Sale” sign to draw attention to your property for sale. Tell your acquaintances and colleagues about your sales project – this is not only free of charge, but also extremely efficient.
In order to sell your apartment or house, potential buyers must be able to reach you by telephone, e-mail or, ideally, fax. If you miss a call, call back as soon as possible. If the caller or sender has to wait longer than a day for your answer, he may get the impression that you are not serious about the sale.
But good communication also means transparency: Answer questions from interested parties to the best of your ability and prepare yourself in advance for possible questions.
If you sell your property privately, you will save the costs for the broker’s commission. However, there are a number of additional expenses that amount to several thousand euros.
If you sell a property in Germany, the purchase contract must be certified by a notary public. However, the notary is only responsible for drafting the contract and making changes to the land register. The exact details of the sale and all (oral) agreements must be recorded by the contracting parties themselves in the contract – and in legal jargon. Therefore, check before the notary appointment whether all agreements are complete and correctly written.
The own house is usually the largest purchase, which is transacted in the life. So before you decide on buying a house, everything has to be right, from the construction financing to the property. With our tips you avoid problems and mistakes on the way to your own home.
In the popular regions of Europe, we are currently on a seller’s market. Whoever wants to sell a property are in a good position due to the high demand and high property prices. On the other hand, for buyers this means that they must be well prepared, because there are many other interested parties. The most important step is the preparation of the real estate financing.
Use a budget calculator to determine how much money is available to you monthly for the real estate loan.
Then use the budget calculator to calculate the maximum purchase price you can afford, taking your equity into account.
Make a non-binding financing inquiry to find out whether a bank would grant you a real estate loan in the desired amount.
Only if you know that you would get a loan, you should go on concrete real estate search. This will save you a lot of time and you will know exactly which houses are suitable for you. You can tell the real estate agent or seller about your preparations so that the seriousness of your buying interest is underpinned and you are preferred to other buyers if necessary.
On the one hand you need to know how much house you can afford, on the other hand you need to be clear about the conditions your property has to fulfill. The following questions should be discussed before buying a house:
You know what you are looking for and how much money you can spend on your house. Now it’s time for the real estate search. Take a look at real estate portals and commission regional real estate agents to search for a suitable property. You can also find properties for sale during a walk through your desired residential area.
Have you found a beautiful house that suits your ideas? First take a close look at the location. The dream house could turn out to be a flop if the location does not suit your ideas or disadvantageous aspects such as noise pollution or poor public transport connections make it difficult to sell the house at a later date.
Even if you may want to live in your house for the rest of your life: Unforeseen events can make a sale necessary. With a house in a good location, you are on the safe side in the event of a worst-case scenario. In addition, you can expect more appreciation potential.
Since a property is on the one hand an expensive purchase with large consequences and on the other hand your new home in which you spend a lot of time, the house should be examined in detail before purchase. Before buying a second-hand property (mainly built up to 1980), find out more about the topics in general:
Further important aspects are contained in our checklist for buying a house, which helps you to identify significant weaknesses in the house. This will provide you with valuable clues as to the possible need for renovation and the associated cost planning.
The neighborhood of the house also plays an important role: Address neighbors and get to know the people in your potential new neighborhood. If you notice that your direct neighbors are unpleasant to you right away, you should reconsider your purchase considerations.
You like the location and the house has no serious damage? Then go into detail and ask the seller or estate agent for all the important documents.
Because each home is unique, there are many ways, more or less traditional, to sell your property. When you put your property up for sale, there are several ways to find a buyer. In most cases, the sale is made through a real estate agency. In addition to this traditional method, there are less well-known ways to sell real estate, such as life annuity, property exchange or auction. Here you can find a presentation of these different methods and their advantages and disadvantages, and if you want to know more about a property for sale, visit for-sale.com/.
Every year, sales between private individuals account for one third of all real estate transactions. To do this, it is possible to use your network of acquaintances or, more commonly, to publish classified ads on specialized sites. What are the disadvantages of selling between private individuals? You will have to carry out all the tasks usually assigned to the real estate agent in charge of the sale. Estimation of the property, realization of the DPE, realization of the sales agreement… These are all technical tasks that will be your responsibility. If you want to learn more about
Entrusting the sale to a real estate agent is also a very common solution. This professional will take care of all the administrative formalities for you and will do everything possible to obtain the best price for your property. However, going through a real estate agency has a major disadvantage: its cost. Indeed, it can represent between 1 and 10% of the total selling price.
Nevertheless, you should know that as owners you have other solutions, which can be described as alternatives, to sell your property.
The fastest and safest solution is an auction. To do this, it will be necessary to go through a notary and accept that the person offering the best price obtains the property, even if it means that it is below the market price.
Life annuity sales also have their advantages and disadvantages. In this way, the seller obtains a starting sum (called the bouquet) as well as a regular income (called the life annuity) until his death.
Although unknown, the exchange of goods is a very simple sales technique. It consists in exchanging one’s home for another. Of course, both parties must accept the transaction. In this case, it will be sufficient to sign an exchange contract before a notary. Note that if the two units are of equal value, the fees will be divided equally. However, a balance will have to be paid as compensation if one of the units is more expensive than the other.
Faced with the multitude of techniques used to sell a property, it is essential to choose the one that best meets your expectations. Sell at the best price between individuals, sell easily with an agent, and sell quickly at auction… it’s up to you to choose the solution that suits you best.