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Tips for the Notarized Purchase Agreement

For many people, selling or buying real estate is not an everyday occurrence. A notarized certification is always required when real estate ownership changes. If you are wondering what elements a purchase agreement should contain, we offer you some helpful tips here.

The purchase agreement must name all parties to the contract, specifically with: first name, last name, date of birth, and complete address.
The contracting parties must identify themselves to the notary (e.g., with an identity card or passport), unless the contracting party in question is personally known to the notary.
The property must be named in the purchase contract. For this purpose, at least the Land Register and the land register sheet must be correctly recorded. Condominiums are also considered plots of land in this sense.
When selling or buying an undeveloped plot of land, the purchase agreement should state the zoning and development status of the land under building law (e.g., land pending rezoning, ready-to-build land, etc.).
Do you have a current land register excerpt and what encumbrances are noted in it?

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It is of great importance to know about any existing encumbrances in the land register and to take them into account accordingly in the purchase agreement. In detail, the following should be checked:
- Is the property encumbered by land charges or mortgages?
– Who are the creditors and what are their claims?
– Are the registered land charges or mortgages still securing a debt? If so, in what amount?
– Does the real estate buyer want to assume the existing liabilities? This can be advantageous if the terms are good.
– Is the property released by the creditor?
– If the mortgages have already been paid off, the question of issuing a deletion consent is current.

When is the purchase price due? Is a specific date mentioned in the purchase contract?
To whom should the purchase price be paid? To the notary's trust account or directly to the seller?
It is important to ensure that the purchase price is only paid once the purchase agreement has been effectively concluded. The property will only be handed over after the purchase price has been paid in full.
It is advisable to ensure that all necessary approvals are in place before paying the purchase price for an undeveloped plot of land. These include, for example, a subdivision approval from the responsible building authority if the land has not yet been subdivided.
It is important to clearly agree in the purchase agreement that the seller applies for and grants a priority notice. Only through this priority notice is it possible to have the buyer registered as the rightful owner in the land register.
Does the seller provide a guarantee for a specific condition of the property? (e.g., year the house was built, developability, or unrented property). Here, the seller should protect themselves and only assume guarantees that they can actually provide.

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Unlike a lawyer, a notary is always bound to impartiality and neutrality, meaning they are not allowed to advise you on the purchase price. Once the notary appointment has been scheduled, you can ask the notary or the notary's assistant any questions you have regarding the purchase contract. Notary fees are fixed uniformly, and they are not permitted to grant you any discounts. You should budget approximately 1,5 % of the purchase price for notary fees. If one of the parties withdraws from the purchase contract before the notarization, the cancellation fees will be paid by the person who commissioned the notary.

Savings tip: To reduce the real estate transfer tax, you can list the movable furnishings, such as the fitted kitchen, separately from the total purchase price. This amount should definitely be realistic, otherwise it could be challenged by the tax office.

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Since 2004, we have been assisting property owners with the sale and rental of real estate in the Isar metropolis. As an owner-managed company, we place the utmost importance on personalized advice, transparency, and trust. With our many years of experience, personal commitment, and excellent marketing, we ensure that you achieve the best possible results.

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Great professionalism and constant availability

Now that the sale of my apartment has been completely finalized, I would like to take this opportunity to thank you again for the excellent cooperation with your agency. The marketing of the property, especially the exposé you created, was of a high standard and presented the property optimally. Your agency was characterized by high efficiency, great professionalism, and constant availability. You advised me excellently throughout the entire sale and truly accompanied me until the final formalities. For these reasons, I can only wholeheartedly recommend your agency.

Dr. J. L.

Thanks to Mr. and Mrs. Rogers, we found our dream home :)
The care was, from the first second to the last, very, very friendly, professional, and accommodating. We couldn't have wished for a better collaboration and would like to thank you sincerely! :)

L. B.

We would like to thank Ms. Rogers and Mr. Rogers from the bottom of our hearts for their exceptional support as we searched for our new home. After more than three years of intensive searching and numerous meetings with various real estate agents, we have finally found a team that has impressed us not only with the highest level of professionalism, but also with their warmth and great dedication.

From the very first contact, we were guided through the entire purchasing process with great care, patience, and friendliness. Also worth mentioning is Ms. Kaufmann—a financing expert who was recommended to us by Ms. Rogers. The collaboration between Ms. Rogers, Mr. Rogers, and Ms. Kaufmann played a key role in ensuring that all the formalities went remarkably smoothly and without complications.

Communication was always open, honest, and warm, and the advice was professional and tailored precisely to our needs. Thanks to this support, we were able to make our dream of owning our own home a reality.

We wholeheartedly recommend Rogers Immobilien to anyone looking for real professionals with a human touch. Thank you again sincerely – we will remember you fondly!

M. G.

A fantastic and very honest real estate agency—Mr. and Mrs. Rogers were highly knowledgeable and provided us with the best possible advice and information at every step throughout the several-month process of purchasing an older home. 5 stars—that’s become a rarity in Munich!

P. W.

While searching for an apartment to rent in Munich, we eventually came across a property listed by Mr. and Mrs. Rogers. We have nothing but positive things to say about the entire process, from our initial contact all the way through to the handover of the apartment. Everything went very professionally and smoothly. Mrs. Rogers was always approachable and went out of her way to answer even the smallest questions as quickly as possible and to gather all the requested information. Mr. Rogers organized and conducted the apartment viewing and subsequent handover very carefully and conscientiously. All in all, we were extremely satisfied with our interactions with Mr. and Mrs. Rogers and can highly recommend them!

S.R.

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