The Notarial Purchase Contract – An Interview with Hamburg Notary Dr. Pfeifer

Have you finally found your dream property or are you about to hand over your home to a lucky buyer? Then it's time for the notarization of the purchase contract, which seals a successful real estate purchase and sale. In our new video, we talk to Hamburg notary Dr. Pfeifer from the Bergstrasse notary's office and explain everything you need to know about notarization at the notary's office.

How does the notarization process work and when am I the legal owner?

The notarization usually takes one hour. First, the notary establishes the identity of both parties with the help of their identity cards. He then checks the contract and verifies, for example, whether the payment and the transfer of the property are correctly described. He clarifies discrepancies with you directly on site and finds the ideal solution for both sides. Once the documents are signed and the seller has received his money, the notary applies for the change in the land register. You are the owner from the moment your name is entered in the land register.

How long will my real estate purchase or sale take?

As a rule, you should allow about three months for the entire process of a sale, from brokerage to registration in the land register. However, it is also possible that you set the transfer and payment of the purchase price to a later date. If you pay purely from equity and without financing, you can also complete the purchase within a few weeks.

What costs can I expect?

The costs for the notarization of a purchase contract are fixed by law. They do not correspond to the real estate value on a percentage basis, but on a certain scale. The higher the value of the property, the higher the notary fees. A calculation example: A condominium that costs 500,000 euros requires a basic fee at the notary of about 1,500 euros. In addition, you pay ancillary fees for processing, which amount to approximately 0.7 percent of the purchase price and thus 3,500 euros. In addition, calculate the fees for the land registry. In total, approximately 1 to 1.2 percent of the purchase price is due for the notary’s office and land registry. Note that the exact cost depends on the amount of the loan and the land charges.

The basis for a successful real estate purchase and sale

Are you wondering how to best prepare for your appointment with the notary? As a buyer, you should always secure financing in advance so that nothing stands in the way of payment. Sellers should prepare for possible questions from buyers and have all documents ready. We at WEISS IMMOBILIEN are happy to support you every step of the way and provide you with a strong partner in the form of the Bergstrasse notary’s office. Please feel free to contact us for a non-binding consultation.

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