How to Invest in Residential Real Estate in Germany as a Foreigner? - Buying Process, Tips, Mortgage

In this video, I will give you all the information you need to buy a house/apartment in Germany.

Step by Step Guide to Buy Your First Apartment in Germany

Stage 1: Affordability and Apartment
Stage 2: Paperwork
Stage 3: Wait
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Stage 1: Affordability and Apartment
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Step 1.1 Finance
- Check with bank, how much credit you can get
- Lets assume 250k of credit
- 100% finance option
- 7% - 12% of 250k as your own cash (Nebenkosten)
- 17.5k - 30k of your own cash
- 7% - private seller (no brokerage)
- 12% - broker (~5% brokerage)

Step 1.2: Find an apartment
- Real estate market research
- Shortlist apartments based on market research
- Book appointment to visit the apartments
- Apartment's document check
- TIP to make you stand out of the crowd
- Show letter from bank
- Give an offer to the seller
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Stage 2: Paper work
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Step 2.1: Get credit contract from Bank
- Submit documents to the bank
- Final credit offer

Step 2.2: Find Notar
- Book an appointment
- Who is a Notar?
- Neutral entity
- Draft the purchase contract
- Makes sure property can be sold
- No restrictions on property use
- Check apartment Documents
- 2 to 3 weeks in hand

Step 2.3: Sign credit contract
- Sign contract 1 week before notar's appointment
- Why?
- No money after signing Purchase Contract is trouble
- Right to cancel contract within 14 days
- NOTE: 14 days includes weekends and public holidays.

Step 2.4 Sign the Purchase contract
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Stage 3: Wait
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- Pay notar
- Land register office (Grundbuchamt) gets notified by Notar
- Pay land transfer tax to finance office (Finanzamt)
- Pay seller the purchase price
- Exchange apartment keys
- Your name is added as a new owner at Grundbuchamt --------------------------------------------------------------
DISCLAIMER:
I am not a financial or real estate advisor. My videos are for educational purposes only and merely cite my own personal opinions. In order to make the best financial decision that suits your own needs, you must conduct your own research and seek the advice of a licensed financial or real estate advisor if necessary. Know that all investments involve some form of risk and there is no guarantee that you will be successful in making, saving, or investing money; nor is there any guarantee that you won't experience any loss when investing. Always remember to make smart decisions and do your own research!

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