German law allows foreigners to acquire any property in full ownership. All transactions are carried out with the participation of notaries. Find out in this article what the requirements are to be able to buy a house in Germany.
The rights and obligations of foreigners
A citizen of any country, including Russia, Ukraine, Belarus, and Kazakhstan, has the right to buy commercial and residential real estate, as well as land in all German federal states. Also, once you buy a house in Germany you need to look for suitable stores to buy household goods. An interesting store is Butlers, where you can find everything you could need for a new home in Germany.
If the property is registered with a legal entity, a document from the Chamber of Commerce (Handelskammer) will be required, confirming the legality of the company’s activities.
What rights does a foreigner have after buying real estate in Germany
Buying real estate in the country offers visa benefits. Namely – the right to a Schengen multi visa with the right to stay in the country for up to 90 days in a half year or up to 180 days a year. However, to enter the country to buy real estate, you will need to apply for an entry visa.
The purchase of a real estate property in Germany is not a basis for obtaining a residence permit.
What responsibilities does a foreigner have after buying a property in Germany
Any property owner in Germany, regardless of nationality and residence permit, is obliged to pay property taxes and reimburse utility costs. In Germany, debtors are closely monitored. Debt can lead to significant fines and visa refusals. And the debt can be registered in the land book, and if it is not paid for a long period, the property is likely to be sold at auction.
Conclusion of a home purchase contract in Germany
A German notary replies that the house purchase contract is “clean” from the point of view of German law, it does not contain “hidden” facts that are not clear to one of the parties to the contract. The office is responsible to the buyer so that the seller does not prove to be a scam. The notary is obliged to read aloud the contract in the presence of the seller and the buyer and to answer questions, even those that appear in each paragraph.
With the right approach, investing in real estate in Germany can be an excellent investment that generates a stable income. Germany is an excellent country for foreigners to buy real estate. Usually, the contract of sale is signed by a German notary. It guarantees the purity of the transaction and eliminates the risk of double sell my house fast jacksonville. In Germany, deception is impossible, because all information about the owners and the process of changing them is entered in the Land Register – Grundbuch.
Acquisition of real estate investment is promising in West Germany, real estate for personal housing – in the south and west of the country. I would not recommend North and East Germany. During the purchase process, we recommend all customers open an account with a German bank to pay utility bills, taxes.