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HOMEOWNERs, need your feedback
Posted on 06/12/2007 8:22 pm
HOMEOWNERs, need your feedback
Hi Homeowners,
I will be moving from US to Germany soon and planning to buy a town home. Before going into further, need your valuable suggestions.
Say if a home value is Eur's 150K, and buying thru an Agent, What are the extra costs am i gonna have, any hidden costs, how much Title agency gonna charge, property taxes etc. I am gonna move to Bayern. Can someone give me a rough calculation 150K + x+y+z= Total ?
Also would like to know, What do i need to look in if i got a Apartment, if i go for a town home or if go for a single family house? what need to be checked inside and outside of the house etc.
Regarding Financing, How flexible now-a-days banks are they? any suggentions or online site where i can aply for a homeloan? Any site where i can see which banks comparision regarding their APR etc? What is loan period? can i refinance the home loan?
All your informations and experiences are welcome.
Deepak
deepak_bansal
Member since 09/03/2004
Posted on 07/12/2007 12:22 pm
Re: HOMEOWNERs, need your feedback
hi deepak,
there would be Grunderwerbsteuer(property tax) of about 4%, Notar cost about 2%, realtor cost about 7.14% approx.
I assume ur 150k is just an example.. coz u would only get an appartment for that sum in big cities.
I would prefer big cities over small towns because of safety reason. I would want my family to live peacefully and safely. people in small towns in Germany are still hostile to foreigners.
my 10cent thoughts on this topic..
all the best...
bz
bizzare
Member since 13/11/2004
Posted on 07/12/2007 1:12 pm
Re: HOMEOWNERs, need your feedback
Hi Deepak
Sorry, not owner (yet) but still working for doing that. First I´d need my NE!
Well, about the questions you made, you will hardly find something more complete and concrete than the post of the friend Rajeshspg in the FAQ section
http://www.trust7....alities_baukindergeld
He took a lot of time compiling his experiences and there is a lot of valuable information inside.
Some things maybe changed (for example I think there is no Eigenheimzulage nowadays) because the post has almost two years, but 99% of the things remains the same.
Good luck and please post your experiences once you bought something!
Regards
YO
YO1
Member since 17/11/2003
Posted on 07/12/2007 1:44 pm
Re: HOMEOWNERs, need your feedback
Apart from a thorough analysis regarding the location of the object(public transport, school, easy motorway access, neighbours, residential or partly residential area, recreational facilities, etc) much attention ought to be given to the actual state of the property.
Here it is even adviseable to enlist the help of an expert building surveyor. Although the law provides for remedies in case of defectiveness of the sold property, usually the purchase contract will contain a waiver in favour of the seller. This means that the seller can only be hold accountable if the buyer succeeds in showing and proving that the seller acted in bad faith.
When inspecting the building there are certain markers that point to some irregularities that can be spotted even without an expert. For example dark spots to be found at the inner window frame, indicating insufficient air circulation; fissures in the ceiling, moist spots in the roof top, water markings in the basement. Particular attention should be given to the roof, the heating system and the overall energy efficiency.
Ravinder Jain,
Rechtsanwalt
rechtsanwalt_jain@yahoo.de
vakalat
Member since 21/11/2007