Selling a condominium differs from selling a house mainly in the paperwork of the owners association: the declaration of division, minutes of the last three owners meetings, the budget, the service-charge statement and the balance of the maintenance reserve. Buyers and their banks check exactly these documents first — having them complete shortens the sale considerably.
The declaration of division with floor plans, minutes of the last three owners meetings, the current budget, the latest service-charge statement, proof of the maintenance reserve, a land-register extract, the energy certificate and the living-space calculation. For a let apartment, add the tenancy agreement. We obtain missing papers from the property manager and land registry for you.
It defines which parts of the building are yours alone and which belong to the community, and governs exclusive-use rights to a parking space, garden or cellar. Buyers and lending banks read it before making an offer. Without it, financing is usually not approved.
Yes. Approved or foreseeable renovations and special levies must be put on the table unprompted — they appear in the minutes the buyer receives anyway. Concealing them can count as fraudulent misrepresentation and entitle the buyer to unwind the sale years later.
Only if the declaration of division contains a transfer restriction — then the manager must approve the buyer. It is stated in the declaration and noted in the land register. We check this at the outset so there is no surprise at the notary.
Yes; the tenancy passes to the buyer — "sale does not break lease" under § 566 BGB. Let apartments appeal to investors but often achieve less than vacant ones. Where a building was converted into condominiums, the tenant may hold a right of first refusal.
Owner-occupied apartments via the comparative method using prices actually achieved for similar properties in the location; let apartments via the income approach from the annual net rent. Service charges, reserves, floor level, lift and the condition of the common property feed into both.
We obtain missing association documents from the manager and land registry and value your apartment free of charge.
