The sale – what do I need to bear in mind?
1. Prevent sightseeing tourism
Not everyone who responds to your listing is actually interested in buying. To avoid sightseeing and only invite people who are seriously considering a purchase after viewing the listing, it is important to have criteria for pre-selection. Complete contact details should therefore be a must. It is also a good idea to ask prospective buyers to fill out a questionnaire in which they provide initial information about the people who will be moving in, their price expectations, and financing options. Anyone who only provides vague information and prefers to remain anonymous is most likely not a serious prospective buyer. Online tools such as 360-degree viewings, where interested parties must provide their contact details, can also be used to make a preliminary selection.
2. Screen out candidates with a credit check
If several prospective buyers remain after the viewings, it is crucial to know whether they can actually afford the property. After all, the most important criterion when selecting a buyer is that they are solvent. You have several options for checking creditworthiness. First, credit agencies such as Schufa Holding AG provide information about a person's solvency and indebtedness. However, as a private seller, it is difficult to obtain this information. Prospective buyers must therefore provide you with a self-disclosure. Other examples of credit agencies are Bürgel and Creditreform. They also provide information about existing real estate holdings and a general assessment of the financial situation. In addition to the data you obtain in this way, it is also a good idea to request information about the assets of your prospective buyers. This includes account and deposit statements, but also business documents. Ultimately, however, the most important criterion is the bank's commitment to provide financing. Make sure that the loan has been approved specifically for the purchase of your property. This will ensure that the prospective buyer does not end up paying off another property.
3. Criteria for the final selection
In the end, you may still have two or even more solvent prospective buyers. How do you make your decision? The simplest option is probably the "first come, first served" principle: whoever comes to you first with a secure purchase offer gets the property. However, you are not bound to sell to the fastest bidder, but are completely free to choose. Accordingly, you cannot be held responsible for a decision based on personal preference, nor can you be criticized for deciding by drawing lots. You can also base your choice on how well the new residents fit into the neighborhood. When selling an apartment in a multi-family house, it is often customary for the owners' association to approve the buyer in advance. However, you should be cautious about making additional payments. While it is legitimate to sell to the highest bidder, you may not accept any additional payments that are not listed in the purchase agreement. Otherwise, you may quickly run into problems with the tax authorities.