Notarisation and handover: what happens after the purchase price has been agreed

The notary appointment: How do you instruct a notary and who chooses him?

As a rule, the buyer chooses the notary because they are paying for the property and should therefore be able to use the notary they trust. However, you can of course also choose the seller's notary. The only thing to bear in mind when making your own choice is that notaries are authorised for certain official districts and are not permitted to work beyond these. Legally speaking, all notaries have the same requirements. They notarise all types of contracts and do so for a legally regulated fee. However, location or sympathy often play a major role. The notary should be able to explain the purchase process and notarisation to you in an understandable way. Ask friends or colleagues who have already bought a property about their experiences with their notary. Alternatively, the Internet provides information about Hamburg notaries, such as notar.dethe official website of the Federal Chamber of Notaries. Of course, our estate agents know many notaries from their daily work and will be happy to give you recommendations. You haven't found your property yet? Then send us your search request Elbe or perhaps you will find it on the following pages:

The notarised draft purchase agreement: content and amendments

Once you have agreed on a notary and commissioned him, he will draw up a draft purchase agreement based on the information provided by the buyer and seller. If the purchase is urgent, well-organised notaries will draw up the draft within 24 hours. Many banks want to check this draft purchase agreement before they give a financing commitment. By law, you have 14 days to check the draft purchase agreement and notify the notary of any changes, preferably in writing. If one of the parties ultimately does not sign the contract, the notary's fee must still be paid. The party who commissioned the notary is liable for payment. However, both parties are liable: if, for example, the buyer cannot pay the costs, the seller is liable to pay. The following items and data should be included correctly in the draft purchase agreement:

• Personal details of the buyer and seller

• Detailed information on the property, such as size, fixtures and fittings and land register entry

• Any inventory taken over

• In the case of existing mortgages, the cancellation or takeover must be regulated

• The amount of the purchase price

• The payment method and payment deadline for the buyer

• Date of handover and transfer of ownership

• Any renovation measures that the seller must complete before the purchase or by the time of handover

• Determination of the estate agent's fees, if applicable

Notary appointment: obtaining the necessary documents, notary appointment procedure and payment

If the buyer and seller agree to the draft purchase agreement, they agree on a notarisation date. This can take place at the end of the 14 days, but can also be sooner if the buyer wishes. It is important that you as the buyer apply for the financing confirmation from your bank by now at the latest. In addition to the draft purchase agreement, banks require documents such as a parcel map, an extract from the land register, dimensioned floor plans, a building description and, in the case of condominiums, the declaration of division, partition plans, the amount of reserves and any other information about the property. Once the financing confirmation has been submitted to the notary, the notary appointment takes place. The notary reads out the purchase contract and gives both parties the opportunity to ask questions. If everything is to the satisfaction of both parties, the seller and buyer sign the contract. The notary checks all the documents, enters a priority notice in the land register and then asks you to make payment. Don't forget to inform the building insurance company of the change of ownership after signing the contract.

The handover: How, when and where does the handover take place?

After full payment and approval by the notary, the property is handed over. The buyer and seller or their representatives, such as the estate agent, are present. With the help of a detailed handover protocol, all parties confirm the proper and economic transfer of the property. Your experienced estate agent in Hamburg Altona or elsewhere in Hamburg, for example, will do this as a neutral property expert. This concludes the sales process. The notary will then take care of the land register entry. Once this has been completed, you have a special right of cancellation on the seller's building insurance and can take out your own insurance. The handover protocol contains the following information, for example

• Number of keys handed over

• Meter readings for electricity, water, gas (re-registration required)

• Arrangements for rubbish collection

• Handover of documents and instructions for use

• Transfer of insurance policies

• Activities still to be completed by the seller