Hi all,
I am live 50KMs away from Munich.

One of my friend wife is a real-estate agent and she gave an offer in buying land(Wohnen Grundstück), for me the offer looks reasonable and would like to go forward but still i wanna make sure if that rate is reasonable or not? also wanted your advices.
My Questions:
1. Is it a good way to buy land and construct a house of my choice or buy ready made house?
2. If i buy land now, do i need to pay property tax, if so how much? any web reference to study the legal proceedings.
3. Any reference where i can check the land price offered is reasonable or not?
4. My bank offers finance, but of high intrest rate, any reference to the any financing companies who offers low intrest rate?(I will pay 50% of the land costs, need 50% as finance)
5. Legal steps to proceed with a real-estate agent.
6. Initial charges like notary etc etc
7. Advices from you if someone of us already planned to have a house or flat in germany?

Best Regards
Deepak

hi deepak,
i too would like to buy an apartment but am not sure if my bank would finance it since i have been here only for about 2 years...
how long have u been here? do we need to have a niederlassung to get finance`?
regards!!

I bought flat and I can say that everything depends.
Usually you can get a credit but not from every bank. Some of them have strict rules about NE and some not.

For example Deutsche Bank and Volksbank offered credit to me and few other banks did not.

I suggest www.immowelt.de where you can find "immobilien rechner" where you can see how much you will have to pay and also your credit plan.

I "googled" a little and came across 2 articles, and both in English:

http://www.howtogermany.com/pages/housebuying.html
http://www.allgrund.com/real_estate_in_germany/buying-realestate-germany.htm

One of our trust7 members had even shared his experience thro Mr.Detlef, which you can find here:

http://www.trust7.com/de/forums/faq_and_important_links/buying_an_apartment_in_germany

Hope all these help!

Dont forget to post your feedback/experiences in this thread.

THIS IS just ina spirit of fun ... i think fred shud have google or "Search Engine " as his middle name ... as he really gets the right links for anyone who needs help.

Cheers Fred

Hi all,

Thanks for your replies.
@Fred: Already googled, got those references, then only came to know about the taxes, notary feees etc etc. There none mentioned , how we can estimate the land costs, r v paying more euros per m2 than the market value etc etc.
Tried to find out thru german colligues, but none has the answer. Will inform you in detail if i come to know these answers.

Regards
Deepak

I would search for Zwangsversteigerungen on your place.
There you can get immo 30-70% cheaper.

Hi all,

I am also currently investigating the possibility to buy some Immobilien here in Germany-of course relaying most of all on a bank credit.
In the course of this I am now blocked at the issue/problem of (still) missing NE (unlimited residence-permit).
I’m living in Bayern, Munich area, GC since 06/2001.

Could someone (Dracus?) share some information/experience please, which Banks are ready still to consider financing an Immobilien-Kauf besides of missing NE?

Thanks, and best regards,
Boyko.
(reachable also at boyko@post.com)

Hi,

if you need money from a bank it is not easy for a GC. I can not say, that trust7 can make it easy, but we can check your chances with our cooperation bank, which is Deutsche Bank, before you spend a lot of time and feel like a beggar, if you are unlucky and meet stupid people at your bank, who do not know about high qualified foreign experts.

http://www.trust7.com/en/intro

Scroll down and you will find our 'Financial Service' with contact mail. This is for whole Germany.

Have a nice weekend
Detlef

Hi Detlef

Thanks for the link, when I have more clear my future you can be sure I´ll send this email.

Just one comment I want to add.

I think is not a big discover that buying a house is better than rent it. Most of us think about it and some of GC could do that.

I asked once in my bank (HV. Till now, they were very helpfull and friendly and there (finally) could find a clever woman who was able to spend some minutes to me.

She checked my "availability" (I think they called "Bonitätprüfung") and I had no problem to get a credit for a house BUT there are a requirement added to the system the bank uses to calculate/approve/deny credits that is the person asking for an hypotecary credit HAVE to have minimal of 5 years living in Germany.

I post it once, but Lieber Detlef, maybe you can ask for that clause to your bank. It is not related with GreenCard Vissum or kind of residence, is just a kind of ground request to approve money for houses or at least, my Bankberaterin told me that.

Hi YO,

there is no minimum of 5 years with our cooperation bank. The prerequisite is an unlimted workpermit and an unlimited 'Aufenthaltserlaubnis' which you can get after 3 years, if you do not have it already.

And, of course, some money ;-)

Have a nice week
Detlef

Hi, Detlef,

In general, the same statement I have got till now.
But I think, an unlimited Aufenthaltserlaubnis (in fact a NE?) can be obtained only after 5 years of work in Germany while I am currently at the end of my 4-th year.
Am I somehow wrong here?
Or maybe, should I try to visit the respective (AA) authorities attempting to get something right now?

Thanks, and best regards,

Boyko.

Hi Boyko,

no, it is not the same. NE is 'everything', but unlimited Aufenthaltserlaubnis just means, that this is not limited until end of the year, or next month.

The first permit for GCs was limited for 5 years, but now you can get an unlimited one after 3 years, as we discussed this here many times. This would be sufficent for the 'Hypothek'.

Good luck
Detlef

Hi, Detlef,

Thanks a lot for this clarification.
Besides I (try to) follow quite carefully all the related legal developments as well as this forum, it seems I have missed/mixed something.
Anyway, your reply gives me quite a hope to resolve this issue. Let's see what the kind Bavarian Beamter will say :-)

Thanks, and best regards,
Boyko.

Hi Detlef.

It seems that I've missed this discussion on 'Unlimited Aufenthaltserlaubnis (UA)'. Can You please forward me to the right post ?

I am still trying to find out the differences between UA and NE. Any insights ?

Nitin.

Hi

I'm also living near Muncih (40 km only) and my GC will expire end of the year. No NE yet.

We just signed the papers for a house and had no problems with bank or whatever.
Just check www.diba.de (they have quite good interest rates .. maybe not the best, but you will get some extra benefits in the same price). Since this is a direct bank (only hot lines available), in case you do not speak too well german, it is prefferably to contact a Finanzberater (the bank will pay for him) and he will do all the paper work.

Initial Charges: 3.5% taxes, around 1.5% notar (kaufvertrag, grundschuld, ...)


regards
N

Hi Nitin,

unfortunately you did not miss something, I did a mistake.

I said...
The first permit for GCs was limited for 5 years, but now you can get an unlimited one after 3 years, as we discussed this here many times. This would be sufficent for the 'Hypothek'.

This is not correct :-( I just called Mrs Ponert from VPMK lawyers and she said, that the 'Aufenthaltserlaubnis' is still limited. You will get an extension if you have a job, but it is somehow limited. Sorry for my misinterpretation.

Now the difference to NE (Niederlassungserlaubnis) is clear, because this is unlimited.

In fact, this shouldn't be a problem, because after 5 years every GC will get the NE.

Viele Grüße
Detlef

Hi Nicusor,

Could you provide some information about your house purchase. For example how much did the house cost and how much of your own money did you need to get the loan from the bank. I basically want to know how possible is it to buy a house for 230,000 € and how much cash money is needed for the loan and other costs.

I would appreciate any info. that you can provide to me.

Thanks,
Christopher

Christopher

just drop an email at : nicdobra@yahoo.com

bye

Hi Nicusor,

Please feel free to share the same information with the other members of this board as well. I hope it will help many others atleast to get the basics clear.

Please let us know the steps you had to follow(to get loan OR to purchase the property) and the problems you faced(if any), how you solved them, in how much time, what kind of permissions you had to take, from which offices and so on......

Anything secret and personal you can replace by example figures/text in your posting ;)

Thanks
Soni

Hi All,

I am also looking to buy a flat and i spoek with my bank and they said it should be no trouble to get a loan. I also asked for 100% loan and it seems they can even fund 105% ( for new kitchen and some renovation). You might need a NE for this but it is worth to try.

For people who have 2 children, this could be your last year to apply for Baukindergeld. You can get 800€ per child per year + you get 1200€ per year as eigenheimzulage. You just need to gurantee that you stay in the house and dont rent it to someone. You can claim this 230€per month( family with 2 kids) for 8 years

in minute details. If you go to buy a flat for 100,000€. without any capital fonds, you need to pay around 500€ kalt for 30 years or so..but you can get 230€ a month from the state for 8 years

@Soni: how are and how is your baby doing?

Regards
Rajesh

Hi Rajesh.

Thanks for the insight. I have a few questions:

A. Is this only applicable when You have 2 children ? What if someone has 1 child ? I understand that the baukindergeld is then only 800€, which is per child.

B. These baukindergeld + eigenheimzulage is for building up a house from scratch only or also when U just buy an already built apartment ?

C. How do they expect You to guarantee that U will not rent out the place ? What if someone has to leave the country for some time ? In worst case, I assume they will not pay the allowances for that period, correct ?


Thanks for sharing,
Nitin.

Hi Nitin,

If you have one kid, then you will be payed only 800€ a year, the more you have kids the more you get.

You will get this baukindergeld only if your family's income( including your spouse's income) is not more than 130,000€ a year

You can claim Baukindergeld and Eigenheimzulage for any kind of hous or flat( old or new doesn't matter)

you to have officialy live in that flat ( you need to get proof for the Einwohermeldeamt). If you leave the flat at any momemt, you will be discontinued from that month.

Hope you got me and hurry up to look for a flat my boss told me that they will discontinue this scheme from 2006!!

Regards
Rajesh

hi Rajesh,
do u know if one doesnt have a child now but expecting soon in 2006. and if one buys a house now, can he claim the money when the child comes or not...?????

Hi Bizzare,

I am not sure that you will get Baukindergeld but better ask your immobilien firm about this , they might shed you some light on this aspect

Regards
Rajesh

hello
For Eigenheimzulage is like that:

1. you will get these money only if you income is lower that 70K in the last TWO years! If you're married, the the ammount is 2*70K. If you have chlidren, then add another 30K for each child. Again, this for the last two years!

2. you can get the money if you sign the contract (house or flat, old or new) before this allowance will be discontinued (lots of reports tell this will happen this year).

3. you will get the money (and you can apply) only after you move into the new house.

4. Even if you don't have a children now, you can change this in time and get more money then.

5. home much money you get: 1250 EUR (for you and your wife) + 800 for each child per year (for 8 years)

hope this helps someone.

nic

Hi,

Please have a look at this link for all information

http://www.reinhart-immo.de/ka_eigenheim.html

Regards
Rajesh

Hi,

is there any online metasearch finance website, where i can compare the intrest rates for baufinanzerung, as DB is charging much zinsen and offering only fixed rate.

Regards
Deepak

Try this link http://www.interhyp.de/ in this site you can simulated your own credit and it has a zins-check and zins-radar.

BTW, i tried to get a credit from the bank (Sparkasse) last year and it was rejected because of the limited visa in my passport, all the financial requirement to get the credit is passed but the only thing is they need is garantie that i have unlimited stay in germany. So i haven't try another bank but i guess it will be the same case.

Regards

arealdy

Deepak - you can try:

http://www.baugeld-vergleich.de/baugeld-vergleich.htm

arealdy - Sparkasse was granting me a loan - limited GC too - but they have quite high interest rates (i suggest not too work with them). Besides that, you can find lots of other banks willing make businesses with yeah.


cheers