Process and Costs

Purchase Tax and Fees 

The Purchase Tax ('Grunderwerbsteuer") on real estate, amounting to 
3.5% of the price, has to be paid within 4 weeks after the sale is completed.
For this purpose, the Tax authorities will insist on German residence or 
representation, which we provide. Following payment, the tax office will issue 
a clearance certificate, which is necessary for transferring property from seller
 to buyer. Legal and Registration fees vary between 1.5% to a maximum of 2% 
of the purchase price. 

Legal and Taxes 

Property transactions in Germany are conducted by a Notary who acts 
independently of buyer and vendor. Having decided to purchase a property,
 the process is relatively simple for the investor, the only requirement being 
the signing of a power of attorney in an Irish Notary Public's office - thereafter, 
we assume responsibility for the process from start to finish. 

The purchase contract is governed by the relevant German consumer protection 
laws. We will provide the buyer with an approved English language translation of 
the contractual documents. On new buildings, there is a 5-year guarantee 
against defects. With respect to payment, current legislation allows for a series of 
stage payments from contract signature to completion. 

Finance 

We facilitate investors in applying for mortgages with financial institutions in 
Germany. Loans may be approved up to a maximum of 70% of the property value. 
Please contact us for information.