Preparing to sell a property: tips and checklist for private sellers
A real estate sale needs to be well prepared. If you want to sell your house or apartment quickly and at the best price, you should plan and implement all the important steps in good time. From pricing and document procurement to marketing and sales processing, it is important not to forget anything. This guide provides private property sellers with a checklist of the most important points as well as tips on how to avoid typical mistakes and successfully prepare their property sale.
Clarify basic questions
Before you start the sales process, you should first clarify your goals and general conditions. Think about it: Is now the right time to sell your property? For example, plan the sale in such a way that you avoid potential speculation taxes (if you have not owned the property for ten years or have not lived in it yourself). Also ask yourself the following questions:
- How much is my property currently worth? – A realistic value assessment is essential to avoid giving away money or scaring off potential buyers with a price that is too high.
- Which selling price do I want to achieve and is it realistic? – Every owner has an asking price, but the market value depends on the location, size, condition and fittings.
Setting the price too high is one of the most common mistakes and often results in the property becoming a slow seller. This is where a professional property valuation can help – ideally by an expert or experienced estate agent who knows the market. - What is the maximum duration of the sale? – Define a time frame. Bear in mind that the ideal sales period is usually 1-2 months. Plan a sufficient buffer in case demand is lower. (Tip: Spring is often considered the best time in Germany, as this is when a particularly large number of buyers are active).
- What reasons do I have for selling, and what does that mean in organizational terms? – Personal circumstances (e.g. change of job, addition to the family, divorce) influence how urgently and flexibly you can sell. Even if you find yourself in an emergency situation, you should approach the sale professionally to avoid risking a loss.
- Are there any particular obstacles in the way? – Is there still financing in place that needs to be repaid? Is the property rented out? In Germany, tenants are allowed to remain in the property when it is sold; experience shows that rented properties achieve around 30% less selling price than comparable vacant apartments. In such cases, plan your approach (possibly sale with tenants or termination in accordance with legal requirements).
Once you have answered these questions honestly, you will have a solid basis for the next steps.
Determine the property value and set the price
A realistic asking price is the be-all and end-all. If the asking price is too high, hardly any interested parties will come forward and the sale will be unnecessarily protracted. To determine the market value of your property, you should consider the following points:
- Professional valuation: Have the value assessed by an expert. Criteria such as living space, number of rooms, year of construction, energy efficiency, fixtures and fittings and location are key factors in determining the value. A local estate agent can refer to comparable sales cases. Feel free to get several valuations – at ADEN Immobilien, for example, you can get a free property valuation to have a sound price basis (each of our agents has already sold over 100 properties and knows what buyers are willing to pay).
- Market analysis: Research current asking prices of similar properties in your region (e.g. on real estate portals). Although this is no substitute for a professional valuation, it will give you a feel for the price range. Bear in mind that asking prices are not always selling prices.
- Allow for a price margin: Set the asking price with a small margin for negotiation, but not unrealistically high. A starting price that is too high will prolong the sale and may result in you having to sell below value in the end. It is better to offer in line with the market from the outset in order to receive enough serious offers and then give in slightly if necessary.
- Is there a tax liability? If you have not lived in the property yourself and sell it within 10 years, speculation tax may apply. The tax is calculated on the increase in value and should be included in your price planning so that you achieve your desired profit in the end. If in doubt, consult a tax advisor to clarify any tax charges.
Compile important documents
To give potential buyers a complete picture of the property and ensure that the sale goes smoothly, all the necessary documents should be available. This includes official documents as well as property information.
Checklist of documents for the house sale:
- Energy certificate: Is a valid energy certificate available or does it have to be applied for again?(Mandatory for sale!)
- Land register extract: Current extract for presentation to the notary and for information on rights and encumbrances (mortgages, easements, etc.).
- Calculation of living space and floor plans: List of living and usable areas as well as informative floor plans of the apartment/house.
- Proof of ancillary costs: e.g. utility bills for the last 2 years to show prospective buyers the running costs.
- Proof of insurance: Building insurance policy, if applicable, proof of completed home insurance policies (these are often transferred to the buyer).
- Rental documents (for rentals): Current tenant list, amount of rents, deposit account statements and tenancy agreements. Prospective buyers want to know what income or tenancies exist.
- Proof of renovations/modernizations: Invoices or documentation of work carried out (e.g. new heating, roof extension) to prove the condition of the property.
- Other property documents: Depending on the property, other documents such as the declaration of division and minutes of the owners’ meetings (for condominiums), construction plans, certificates for listed buildings, possibly information on contaminated sites, etc. Find out in good time which documents are required in your particular case and where you can obtain them (the land register from the local court, building plans from the building authority, energy certificate from an energy consultant or online, etc.).
A particular focus is on the energy performance certificate. Since 2014, the legislator has stipulated that certain energy values (energy efficiency class, year of construction, type of heating, etc.) from the energy performance certificate must be stated in every property advertisement. You must present a valid energy performance certificate to interested parties at the latest at the viewing. If this is missing, there is a risk of severe fines of up to €15,000.
It is therefore essential that you apply for an energy performance certificate in good time – either as a consumption certificate (based on the most recent heating bills) or as a demand certificate (based on a technical analysis of the building).
Tip: An energy performance certificate is often cheaper online and just as legally valid as from an energy consultant. The costs amount to around €100 to €500 depending on the effort involved – plan this item into your budget.
Complete documentation makes you look professional and trustworthy. Prospective buyers and the notary will receive all the information they need and the sale will not be delayed due to the need for additional documents.
Present the property in the best possible way
The first impression of a property often determines the success of the sale. With targeted preparation, you can present your property in the best light and appeal to buyers on an emotional level.
Make your property fit for viewings – similar to home staging. The following measures help to highlight the value of your home in the best possible way:
- Carry out cosmetic repairs: Repair minor defects that could catch the eye of potential buyers. Problem areas on walls, floors or installations should be repaired wherever possible. For example, you can fill cracks, seal leaky windows or replace dripping taps. Major renovations (bathroom, heating) increase the value, but are also cost factors – consider what is worthwhile before selling. In any case, a well-maintained property makes a better impression than one with obvious defects.
- Clean and tidy thoroughly: create a tidy, inviting atmosphere. Remove personal items and clear out the cellar, attic and garage. Buyers should be able to imagine themselves living there – this works better in a tidy, neutral environment. A big clean, fresh air and possibly a new coat of paint in bright colors can work wonders.
- Design attractive living spaces: Make the rooms bright and spacious. Open the curtains and make sure there is enough light. It may be worth removing some furniture to make the most of the space. Small decorations (fresh flowers, discreet pictures) and attractive furnishings enhance the feeling of living without overloading the space. The aim is to make visitors feel at home straight away. Remember: When it comes to real estate, the buyer’s gut feeling also plays a role. Emotional impressions are often decisive – and buyers are even prepared to pay a higher price for an apartment that they like very much.
- Prepare the outside area: If you are selling a house with a garden, don’t forget the outside areas. Mow the lawn, cut back hedges and remove leaves or garbage. The first glance from the outside (façade, front garden, staircase in the case of apartments) has a considerable influence on the willingness to buy.
- Take professional photos: Have high-quality real estate photos taken, ideally by a real estate photographer. Wide-angle shots in daylight and tidy, bright rooms arouse interest. These images will be your most important marketing tool in exposés and online advertisements. Only use photos that show your property at its best.
All these preparations pay direct dividends for your sales success. A clean, well-maintained and attractively presented property stands out from other offers and attracts serious buyers. Repairs also help you to avoid later negotiations about defects. If you are unsure which measures make sense, a real estate agent will be happy to advise you on small but effective improvements.
Strategic marketing planning
Once your property is ready for the market, it’s time for the sales strategy: how and where will you find the right buyer? First of all, think about who your property particularly appeals to (target group) and how you can reach them. Some points that are important when marketing:
- Set the offer price: Using the determined value and the market knowledge from the valuation, set an offer price. This should be in line with the market (see above). Consider whether you would rather set a slightly higher price and leave room for negotiation or choose an attractive price that will attract many interested parties.
- Create exposés and advertisements: Prepare an appealing exposé – either digitally as an online advertisement or as a PDF. It should contain all the important information: Data on the property (area, year of construction, rooms, fixtures and fittings, energy parameters), informative photos, floor plans, location description and, of course, your contact details. Make sure you provide complete information; incomplete advertisements look dubious. Tip: A professionally designed exposé leaves a lasting impression and can easily be sent digitally to interested parties.
- Choose the right channels: Where do you want to advertise your property? The usual real estate portals (e.g. Immobilienscout24, Immonet, Immowelt) reach the largest group of buyers, but are associated with advertising costs. Alternatively or additionally, you can place newspaper advertisements, post notices in the local area or use your private network. Plan your marketing budget: A high-quality advertisement on several portals can cost several hundred euros. If you sell with an estate agent, they will usually take care of the marketing on all channels in their network.
- Realistically estimate the time required: Marketing means work. As soon as the advertisement is online or has been placed, the first inquiries will come in – often many at once. Think about whether you have the time to deal with all these contacts promptly. If you are working, answering dozens of emails and calls a day can be a challenge. If you don’t respond quickly, interested parties will drop out or the process will be unnecessarily delayed. So make sure you plan sufficient resources or call in a broker at an early stage to take over prospect management for you.
- Organize viewing appointments: Get in the mood for viewings. Think about the days and times when you can receive interested parties. During the week, many sellers don’t have time during the day – then all appointments are squeezed into the weekend. This can quickly become stressful. It is best to organize a viewing schedule. Collective viewings (several interested parties one after the other) may be efficient. However, make sure you give every serious buyer enough opportunity to look around and ask questions. Keep the property in a presentable condition for each viewing (see previous section).
- Deal with prospective buyers: Be prepared for questions from buyers – for example, about the renovation status, neighborhood, internet connection, reasons for selling, etc. Do not conceal any defects; honesty creates trust and prevents liability problems. If you receive a lot of inquiries, check who is really seriously interested and able to finance. Not every person who comes to view a property has a genuine intention to buy or the financial means to do so. Don’t be afraid to ask for confirmation of financing or proof of equity, for example, before entering into negotiations. This saves time and nerves.
- Obtain and compare purchase offers: Ask serious prospective buyers to submit a purchase offer to you – preferably in writing. This will allow you to compare offers. Pay attention not only to the price, but also to the conditions (financing already secured? Desired handover date?). If you receive several offers, choose the right buyer carefully. Sometimes a slightly lower offer from a reputable buyer with a financing commitment is worth more than the highest bid with uncertain financing.
Private sale or estate agent? The marketing phase in particular shows how much effort is involved in selling a property. Many private sellers underestimate this and then get bogged down in the flood of inquiries or fail to deal with legal details. A good real estate agent can take this work off your hands: They take care of the valuation, draw up the exposé, place advertisements on all the important portals (often they already have a client file of people looking for a property), coordinate viewings, filter out serious buyers and conduct negotiations on your behalf.
Of course, this service costs an estate agent’s commission, which in Berlin & Brandenburg, for example, is around 7.14% of the purchase price – since the end of 2020, this commission has usually been split equally between the seller and buyer. You should therefore consider whether you want to save the commission or whether the time saved and expertise are worth the price. Many owners ultimately achieve a higher sales price with an estate agent, which offsets the costs. In addition, the estate agent knows the legal pitfalls and ensures a secure transaction. If you are unsure, let us advise you without obligation – ADEN Immobilien will be happy to assist you with its local market knowledge.
Preparing the purchase and handover
Once a buyer has been found and you have agreed on a price, the contractual and formal steps still need to be completed to make the sale legally binding. Here too, good preparation prevents delays or problems during the transaction.
- Choose a notary and draw up a purchase contract: In Germany, a real estate purchase must be notarized. As the seller, you can suggest a notary to the buyer or the buyer can choose a notary – the important thing is that both parties agree to the choice. The notary draws up the purchase contract. You should make sure that all the points discussed are included: Purchase price, property description, transfer date, payment terms, inventory sold with the property, any warranty exclusions, etc. Take your time to check the draft contract and ask questions if anything is unclear.
- Financing confirmation and credit check: As a rule, the notary or seller checks the buyer’s solvency before the contract is signed (e.g. by means of a financing commitment from the bank). It is advisable to obtain this in advance to ensure that the buyer can actually afford the purchase price.
- Clarify payment processing: It is usual for the purchase price to be transferred directly from the buyer to the seller after notification of the due date by the notary. A notary escrow account is only used in exceptional cases, e.g. if the buyer and seller are located abroad or if special securities are required. Make sure that the due date requirements are clearly defined in the contract (e.g. entry of a priority notice, submission of all necessary documents). As soon as these are fulfilled, the notary will request payment from the buyer.
- Clear up old encumbrances and land charges: If your property is still encumbered with a land charge (mortgage), the notary will regulate the redemption in the purchase contract. The buyer usually pays the corresponding amount directly to the bank so that an unencumbered transfer to the land register can take place. Clarify the outstanding loan amount with your bank in advance and apply for a deletion permit. Other encumbrances in the land register (rights of way, residential rights) must also be disclosed and clarified as to whether they will be taken over or deleted.
- Determine the handover date and modalities: Agree with the buyer when and how the property handover should take place. This is usually set for a date after receipt of payment. For the handover, you should draw up a handover protocol in which you jointly record the condition of the property, meter readings (electricity, water, gas), keys handed over (number) and any defects. This protocol should be signed by both parties to avoid any ambiguities arising later.
- Deregistration and re-registration: Remember to transfer or cancel utility contracts (electricity, gas, water) to the buyer on the transfer date, inform the building insurance company (the new owner usually enters into the contract, but has a special right of termination) and, if necessary, re-register your residence when you move out.
With a well-prepared transaction, you can ensure that everything is completed quickly and with legal certainty once the buyer has been found. The notary will initiate the transfer of ownership in the land register as soon as the purchase price has been paid. Then the sale is complete – congratulations!
Thanks to thorough preparation – from initial planning and marketing to signing the contract – nothing stands in the way of your successful real estate sale. At the end, you can hand over the keys to the buyer with satisfaction.
Conclusion: Successful sales with good preparation
Preparing for a property sale may seem time-consuming, but it is the key to a smooth process and the best possible result. As a private seller, you should proceed strategically: Clarify all important questions in advance, determine the value realistically, collect your documents, present your property in the best light and plan the marketing carefully. This will help you avoid typical mistakes and increase your chances of finding a suitable buyer quickly.
Remember, you don’t have to go through this process alone. Our team at ADEN Immobilien is here to support you with experience and market knowledge – from the free initial valuation to handing over the keys. Feel free to contact us for a no-obligation consultation if you would like support in preparing or selling your property. We will help you to achieve the best price and overcome any hurdles. We will be happy to advise you and, if required, handle the entire sales process for you.
Frequently asked questions (FAQ)
It depends on the individual case. If you have all the documents to hand and the property is in good condition, you can be ready to go in just a few weeks. If documents need to be applied for, repairs carried out or an energy performance certificate drawn up, you should allow at least four to six weeks.
Not necessarily. Small cosmetic repairs and a thorough clean are usually enough to make a good first impression. Larger measures such as a new heating system or a bathroom renovation are usually only worthwhile if they have a significant impact on the sales price and can be implemented in the short term.
An objective valuation is crucial. Market data, location, condition and features of your property should be taken into account. Estate agents with local market knowledge or an independent surveyor can help with the valuation – so you avoid unrealistic price expectations.
Important documents include the extract from the land register, the floor space calculation, a valid energy performance certificate, proof of operating costs and – in the case of rented properties – the rental agreements.
Missing documents delay the sales process considerably and can lead to a loss of confidence among potential buyers. Some documents, such as the energy performance certificate, are required by law. You should therefore apply for missing documents at an early stage to avoid delays.
Serious prospective buyers ask specific questions, are interested in details and are prepared to provide a financing confirmation. Don’t be afraid to ask for a written financing commitment or proof of equity before you enter into negotiations.
Book an appointment without
e-mail ping-pong!
Table of contents
Click on a section to jump directly to it.
