When time is short: the checklist for distressed sales

Sudden unemployment or divorce - there are situations in which a property needs to be sold quickly so that it does not become a financial burden. If a solution is not found quickly in such emergencies, a forced sale may be imminent. This usually has a negative impact on the sale price. That's why you'll find our checklist here as a guide for an emergency sale.

Real estate retirement solution

• Sell your property and stay in it with a right of residence
  • There are various models (life annuity, time annuity) - consult a real estate expert to find out whether an annuity is right for you and which model suits you best

Preparation/marketing

• Have the value of the property professionally determined
• Determine a suitable pricing strategy for a quick sale that does not have a negative impact on the sales price
• Compile sales-relevant documents, e.g:
  • Energy certificate
  • Land register extract
  • Building insurance
  • Current tenant list
  • Floor plans
  • Evidence of renovation measures
  • Calculation of living space
  • What additional documents are required and where can I get them?
• Preparation of the property (cosmetic repairs, depersonalization, home staging if necessary)
• Create professional photos of the property
• Who is the target group for the property (e.g.: young family, senior citizens, investors)
• Create an exposé with a suitable approach for the target group of the property
• Arrange viewing appointments with interested parties
• Carry out viewing appointments with interested parties
• How do I obtain purchase offers?
• How do I negotiate with interested parties?
• How do I achieve my sales price?
• How do I select the buyer?
• Credit check to determine whether the interested party can pay the purchase price

Sale processing

• Who chooses the notary?
• What should be included in the purchase contract?
• Are there any legal risks?
• How is the purchase price paid? Direct transfer or notary's escrow account?
• When and how will the property be handed over?
• What belongs in the handover protocol?

Do you need support for the quick and discreet sale of your property? Then contact us! We will be happy to advise you.

Further information can be found here:

https://de.wikipedia.org/wiki/Notverkauf

https://de.wikipedia.org/wiki/Zwangsversteigerung

https://www.handelsblatt.com/finanzen/immobilien/immobilienverrentung-mit-dem-eigenheim-das-einkommen-aufbessern/24577956.html?ticket=ST-7854216-5hV79ODe1XZPRBFmETUm-ap1

https://www.finanztip.de/haus-verkaufen/

Notes

For reasons of better readability, the generic masculine is used in this text. Female and other gender identities are explicitly included where this is necessary for the statement.

Legal notice: This article does not constitute tax or legal advice in individual cases. Please consult a lawyer and/or tax advisor to clarify the facts of your specific individual case.

Photo: © artstore@outlook.co.th/Depositphotos.com