Because a property transaction is a big decision and involves a lot of money, the law requires a neutral professional: the notary. At the notary appointment, you can finalise the sale of your property and at the same time be protected from hasty decisions.
If you have found a buyer for your home after hopefully not too long a search, the first hurdle has been overcome. You may have lived in your own home for decades and it was important to you to find nice people for your "succession". Now it's time to finalise the contract. In order for the contract for the sale of your property to be legally effective, a notary must notarise the purchase agreement. This is because a neutral professional should protect against hasty decisions, instruct the contracting parties and handle all correspondence with the authorities, such as the submission of applications. For this reason, a property purchase contract is only legally completed once the notary has notarised it. As a rule, the notary also draws up the purchase contract. Service-oriented estate agents also offer to prepare a draft of the purchase contract.
What are the notary's duties?
It is not part of the notary's job to check the creditworthiness or reliability of the contractual partners. An estate agent may have already done this for you. However, the notary can ensure that the seller does not suffer any disadvantages if the buyer does not pay. He issues a deed, which at the same time forms an enforcement title. This enables the seller to obtain a compulsory enforcement order against the buyer. In such cases, the seller can also withdraw from the purchase contract.
For a quick and smooth process, the notary needs the following documents:
- Purchase price
- Handover date
- Indication of material defects (if any)
- Land register extract
- Personal details
If you sell a property privately without an estate agent, you will usually need more appointments with the notary. With a property expert, only one notarisation appointment with the notary is necessary. At this appointment, the notary reads out the contract that has been drawn up. This is also the last opportunity to make changes. As a property purchase contract is not easy to understand, it is advisable to make use of the notary's duty to advise and to obtain detailed information. No further costs are charged for this.
On request, a preliminary meeting can also be held before the actual notarisation date. At this meeting, a preliminary draft contract is drawn up and the contract components are discussed with all parties.
Are you unsure about the documents required by the notary or do you have questions about the notarisation process? We will be happy to help you.
Photo: © djedzura?
