
Why you should avoid selling your house to your neighbors
Your neighbor lives three streets away and paid €300,000 for his similarly sized property ten years ago. Now he wants to buy your house for the same price as an investment. Maybe his children will be able to move in in a few years. At first glance, it sounds like a great deal. Owners who have lived in their property for a long time and may have paid for it in German marks often do not know how much their property is currently worth.
Furthermore, you are not taking into account that even small differences in location and in the property itself can lead to differences in value. While your property is located on a quiet side street, your neighbor lives on a busy street and does not have underfloor heating in their property. Add to that inflation and rising property prices. It is highly likely that your neighbor's property is now worth more.
Most owners realize that selling to neighbors is complicated at the latest when several offers come in. Nobody likes to negotiate with friends and acquaintances and turn down neighbor A because neighbor B has made a better offer. If you hire a professional to handle the sale, you hand over this responsibility and ensure fair conditions.
In addition, a handshake deal between neighbors always involves risks when large sums of money are involved. If defects suddenly arise that you did not disclose to your neighbor, they can hold you responsible. The same applies if important documents such as the energy performance certificate are missing. Your nice neighbor can then quickly turn into an urgent plaintiff.
By hiring a professional, you minimize such legal risks. A professional real estate agent will carry out a professional valuation, obtain all documents relevant to the sale, and ensure that you are released from all obligations upon signing the purchase agreement.
In addition, a real estate agent can get you much better offers for your property. After all, they know exactly what you can ask for—unlike your neighbor, who can only guess and naturally has their own interests at heart.
Hiring a professional does not mean that you cannot sell to your neighbor in the end, even if they do not make the highest bid. You have simply brought in an expert who will negotiate the best compromise for both parties. This makes the real estate sale a relaxed experience for everyone involved.
Want to know if your property is worth more than your neighbor is offering you? Contact us now. We will be happy to assist you with the sale.
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