kld

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Posts posted by kld


  1. HI All

    I need to send 120,000 pound sterling from my account in UK to real estate seller account in Berlin.

    The money must be converted to Euros first.

    I found that my bank rate will be lower by EURO 1400 compared to TransferWise.

    However, I found horrible Review about TransferWise online.

    Anybody here used it before for similar amounts and it was useful ?

    I even read about users who send money to TransferWise and it did not reach the recipient. 

      

     

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  2. On 8/4/2017, 3:34:32, deuu2010 said:

    I have some money essentially earning no interest in the UK, and want to move it to Germany where I'm living, and will probably buy a stock market tracker with it.

    Although the GBP/EUR is not great at the moment, it could get even worse in 2018, so it is a kind of hedge for me.

    So I've read a few old threads, and wondered what the best money transfer providers are in 2017?

    I will try to write up a table comparing all the providers to help other people. I think posing the question"how many euros will I have in my German bank account for 10k pounds" is the best way to phrase the question, as there is no consistency with commision charges and rates. It also give you an idea of how much money is really at stake, compared to a percentage.

    I've used transferwise in the past, but perhaps they are better for small sums? I guess there is always the risk if the provider goes bankcrupt before the transfer completes, you lose the money.

    I bank with Nationwide and Santander in the UK, and Sparda in Germany. Santander has branches here, but I don't think there are any deals. Maybe I would be willing to move my German bank account to one who offered a good deal, as I could well be doing this again in the future if I stay here log term.

    There are a lot of bad review about TransferWise. 

    Some used it and say it is good

    Others say it is a nightmare.

    I think to be on the safe side one should avoid it

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  3. On 11/9/2014, 1:13:15, darrylyoung said:

    I've lived in Germany since 2010 and I've always used TransferWise to send money back and forth between here and the UK. I still have a mortgage and student loan in the UK and after just the first month of bank transfers I realised there had to be a better way. Since then, I've sent quite a lot of money to and from the UK from Germany. A typical transfer I do is £250 and that costs me just over 1€ from TransferWise. I always check the conversation rate, too, and it's better than all other transfer sites. As I'd used them quite a lot from the start they invited me and a bunch of other people to a party in Berlin earlier this year. It was awesome and I got to meet the team behind the service. Anyway, this is most definitely a shameless affiliate link but I'm being honest and up-front about it. It really is a great service and if you use that link you'll get your first transfer completely free. I've seen people passing these links around in a few places and some people tend to get annoyed about it. Sure, it's my affiliate link but I found the service myself on a forum where somebody was saying the same thing and I've saved a fortune on stupid bank transfers since then.

    I am thinking of using them to transfer money from UK to Berlin  to pay for a real estate I am buying (EURO 160.000) but I find a lot of very bad reviews about them.  

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  4. Just now, franklan said:

    To be sure, one could bring a friend to the post office, let him/her see that it isn't just a blank sheet, put that letter into the envelope, and then post it.

     

    The recipient might claim that the envelope was empty, or did contain a blank sheet, but you have a witness.

    Claiming that something wasn't mentioned in the letter is still possible, but now the recipient has to prove that by showing that letter to the judge.

    Does the FAX in Germany show received confirmation on the letter ? 

    I think this will proof the content of the letter.

    But is FAX a legal document ?

    I know that emails are not legal proof in Germany.

     

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  5. HI All,

    I send registered mail last week ( Einschreiben Rückschein).

    I am just wondering how this proves that a Notice was send ? 

    I mean the recipient can claim that the envelope was empty.

    Or recipient can claim the letter he received did not mention some information.

    No one knows the "content" of the letter or what was "actually written in the letter".

    So how is this ( Einschreiben Rückschein) used as a proof that I notified a person that he should do something by a specific date ?

    Thank All

     

      

     

     

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  6. On 4/2/2012, 6:20:14, westvan said:

    TAN generator would probably be the best idea in this case. We always take our with us when we go abroad.

    I have postbank account.

    I tried to by TAN generator but it takes 7 working days.

    Is it available in a store ? 

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  7. On 2/18/2018, 5:28:13, jeba said:

     

    I send an email to the tax office and they confirmed to me that all Ground tax is paid. So at least now it is clear that the property manager problem is that he never made an (account sheet) that shows incoming cash or outgoing expenses. That is why everything is mixed on his side. But at least he is paying groundtax 

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  8. On 11/2/2016, 1:47:13, dannys said:

    Hello everybody,

    Yes! I know a couple threads were opend on the subject  (I have searched TT and have read every single post before I have posted this) but I have a few questions focused on "big" renovation costs for an old house.

    The property in question: A detached house, 150sqm, 4 rooms, 2 floors and a keller, 60-70 years old.

    I have heard that replacing the complete wiring in the house should be around 10-15k euro, I have heard that replacing the complete plumbing will be another 10-15k euro, I have heard that replacing all of the floors (mainly parquet, minus the kitchen and bathroom) will be another 10-15k euro for quality material and work, complete painting a whole house should be around 5-10k euro depends on the size and work required.
    Heating system is around 25-35k euro to replace etc..


    For those of you that did a renovation in recent years or know someone who did:

    Does all of those values are (approx.) correct ? too much? too less?

    One thing that nobody could answer was replacing a roof (in case it's leaking or very old and I want to completely refurbish the roof), how much approx is such job ? 10k ? 30k ? I am not looking for precise numbers (I know it's impossible to give) but a range..

    Any information will be very much appreciated,

    Thanks in advance!

     

    I think for a Heating system to pay 30.000 is actually low estimate. It may cost more if it is outdated. 

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  9. On 3/31/2015, 11:02:12, mashi said:

    Thanks Mr G! And thanks for the thread link Trabi - all very informative!!

     

    Anyway. We lost the house by about 10 minutes. So annoying. The makler does not work on a reservation basis, and refused to tell us if there were any other interested parties during the process. In the end, our offer was submitted 10 minutes after someone else, and so they are first in line. Their offer was accepted, they have their finance approval submitted, the seller has accepted their offer, they are just on their way to the lawyer to sign paperwork. The makler has given them 3 days to get that done, and if it is not completed then the property becomes available again, although that does not put us first in line, it again becomes the first to submit whatever it is she needs. It's all just such a strange way of doing things, and this makler's way seems a bit out-of-the-norm for here as well, but it is what it is.

     

    Anyway we did learn a lot from the process -- yesterday we took a friend with us who has done a total modernisation of a house that was older but had the same set up and she brought a friend of hers (who we do not know) who is a plumber to give us some advice. And we did find out from word-of-mouth (very small town, everyone knows everyone here :rolleyes: ) that the Gutachter's survey on the property was that the electrics needed about €7-8000 work (not all of it mandatory but some things were "if you are doing this then it only makes sense to do this as well") and the plumbing and pipes are all fine, it is on district heating which is apparently a bonus. It was interesting...at least we got our head around things to look for, questions to ask, what is reasonable and so on. Anyway, everyone seems to feel it is a very do-able project with the large majority of the work simply being cosmetic.

     

    So, hoping that something comes up with these buyers who are ahead of us in the race. It is so competitive right now, properties are not coming up for sale very often so I just can't see them backing out. This house is a bargain and in a prime location. So now we sit and wait probably another 6-8 months before we have another chance at one. Sigh.

    same thing happened to me last year. lost an apartment after 2 weeks of reading and consulting lawyer.

    But you know what, the estate agent did not make a reservation agreement.

    They refuse.

    And because the market is so demanding buyers may have to accept starting the process without reservation agreement.

    In my case it was worst. The seller cancelled the sale just one day before the date we were supposed to sign at the notary.

    The notary had already prepared the contract.

    This is the case now in the market.

    So much demand.

     

     

     

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  10. 10 hours ago, El Jeffo said:

    Have you asked them what the holdup is?

    @El Jeffo
    Yes of course.

    I asked notary he said 5% of price not paid.

    I asked lawyer he said because major maintenance is done in the second building (just an extend to my building) and the cost of this maintenance should be paid by all owners.

    However, I should not pay this.

    I old owner should pay it.

    So he is holding the 5 % in the trust account until this renovation is done so I am protected from paying this.

    I even asked a second opinion of another lawyer in Berlin (fast & free opinion) and he said that it is ok and the contract say this.

    But when I bought the apartment the lawyer NEVER told me that there will be delay in registration.

     

     

    10 hours ago, El Jeffo said:

    Have you asked them what the holdup is?

    On 1/6/2009, 11:45:37, RainyDays said:

     

     

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  11. On 1/6/2009, 11:45:37, RainyDays said:

    Signing the purchase contract doesn't necessarily mean that the whole deal will actually take place. One party can still change its mind (at a cost). To have more security on the buyer's and seller's side, the transaction is often done step by step ('Zug um Zug'):

    – Signing of the contract

    – The Grundbuchamt gives a priority notice of conveyance (Auflassungs-/Eigentumsvormerkung) to the buyer (this can take a few weeks)

    – Buyer has to pay (part of) the purchase price until a deadline set in the contract

    – Property is handed over

    – Buyer pays rest of the money

    – Often it takes months for the buyer to be registered as the new owner in the Grundbuch

     

    If a mortgage is registered, that's one more phase in the transaction.

    I bought an apartment in Berlin  in 2015 and it is not registered yet !!!

     

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  12. I purchased a property in Berlin in March 2015 and paid 95% of the price but it is not registered until now. 

    If I paid the remaining 5% in March 2018 and registered in the same time of the year, would I be considered subject to waive from capital gain tax in March 2025 ? or March 2028 ? 

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  13. 3 minutes ago, someonesdaughter said:

     

    I don't give a s*it about your 'portfolio' – your topics are completely bizzare because you have ab-so-lute-ly no idea of what you are doing as a landlord. As I said before:

     

    "You don't live in Germany and you don't talk any German. And you have no idea about cold rent, warm rent, umlagefähige and nicht-umlagefähige Nebenkosten (sic!), Grundsteuer etc. So you have to rely on ppl who do and will make you pay for their services. The less you understand, the more you will pay and the more room for disaster is left because you can not even control what those ppl do..."

     

    And the worst thing about your total cluelessness is that you don't even bother to learn anything from your bizarre threads and the answers you get – two full months (!) after Panda wasted her time for you on this thread you have the guts to ask "What is nebenkosten?", a basic term mentioned dozens of times before. You are in total ignorance and that makes your threads bizarre. 

    I am not more ignorant than you.

    Any way it seems you have nothing to do and a lot of spare time to keep wrting long replies.

    I will add you to Ignored Users.

    So I do not have to see your useless replies anymore.

    Bye 

    3 minutes ago, someonesdaughter said:

     

    I don't give a s*it about your 'portfolio' – your topics are completely bizzare because you have ab-so-lute-ly no idea of what you are doing as a landlord. As I said before:

     

    "You don't live in Germany and you don't talk any German. And you have no idea about cold rent, warm rent, umlagefähige and nicht-umlagefähige Nebenkosten (sic!), Grundsteuer etc. So you have to rely on ppl who do and will make you pay for their services. The less you understand, the more you will pay and the more room for disaster is left because you can not even control what those ppl do..."

     

    And the worst thing about your total cluelessness is that you don't even bother to learn anything from your bizarre threads and the answers you get – two full months (!) after Panda wasted her time for you on this thread you have the guts to ask "What is nebenkosten?", a basic term mentioned dozens of times before. You are in total ignorance and that makes your threads bizarre. 

    I am not more ignorant than you HA.

     

    3 minutes ago, someonesdaughter said:

     

    10 hours ago, mtbiking said:

     

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  14. 25 minutes ago, someonesdaughter said:

     

    Me too - and I will comment on your bizzare topics and question as I want. Got it? 

     

    My topics are not bizzare, you comments has no value. Simply because you can not give financial advice to someone if you do not know his portfolio. I hope you know what portfolio means any way. 

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  15. 3 hours ago, LeonG said:

     

    I would say yes because the landlords are not allowed to increase rents at will so it is better to sell a condo that is rented out for market value already.  Unless the landlord is renovating, they can only increase the rent as much as 20% every 3 years and only if the rent is still lower than the rent for similar apartments in the same area.  Hence, if you buy a condo where the rent is 200 and should be 400, you can only increase the rent 20% so to 240 then have to wait 3 years before you can increase again by 20% etc.  The tenant can dispute the increase in which case, you may need to go to court.  This may be why many landlords do not bother to increase the rent for a sitting tenant.  I lived in the same apartment for 6 years and my rent was never increased.

     

    If you are renovating, you are not tied by the 20% cap.  You would however have to spend a lot of money on renovations before you can get your money back from the tenant.  For example, you spend 5000€ on renovations, you may increase the yearly rent for 11% of that so 550 per year.  For your 200€ a month apartment, that means 550/12 so 45,83€ per month more rent which is more than 20%.  However, you would have spent the 5000 before you could get that 45€ a month more.

     

    I did not know landlord can increase rent by 20% every 3 years. I thought it is only 15%. I increased the rent by 15% in August 2017.  Does this mean that I can increase 5% (If the whole rent is still within the average of the rents in the same area ? 

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  16. 52 minutes ago, fraufruit said:

    We've never had a rent increase after normal renovations like painting and new insulation outside. We didn't even ask for a rent reduction the last time they scaffolded the whole building for some months because we were gone most of the time and it didn't really bother us.

     

    As a landlord, we've never increased rent when major works were done on the building but all of the flat owners must pitch in a bit. We never put that on our renter. It is our property.

     

    Please join the Mietverein.

     

    oops! Now I see that Tim Horton quoted a post from 2014.

    Does it make a difference how much your property is rented for when you're-sell it ? 

    I think that rent maynot be important but most landlord prefer to increase rent so they have an attractive Rental Yield when they resell. 

    I have seen a nice condo for sale for a good price only EUR 112.000 but the rent is only EUR 200. 

     

     

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  17. 1 hour ago, Tim Hortons Man said:

    It sounds suspiciously high. I was curious on this and ran some calculations and while 11% sounds like a huge increase in the end it works out to quite a reasonable 40 or 50 Euros a month on an average rent. As @fraufruit mentioned it could be an increase in the NK as well. They also might have tacked on a normal rent increase to the modernization one. 

     

    Don't forget that during the renovations they are required to lower the rent by a specific amount. I wrote a short free ebook on renting, Tricks and Bricks Germany, The Expat Guide to Renting, Whenever my website is up and running properly you'll be able to download it for free, in the meantime I'll PM it to you. Again the meitverien is your friend. 

     

     

    Nebenkosten the Devil is in the Details

    I check the website.

    It is very useful .

    Thanks

     

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  18. 58 minutes ago, Tim Hortons Man said:
    22 minutes ago, LeonG said:

    A letter to the property manager should specify the date you want to cancel on but it's common in Germany to add "or to the nearest legal date" to avoid the cancellation being unlawful.  For example, a man I know cancelled his car insurance by mistake to the 15th of December instead of the 31st.  The insurance company sent him a reply stating that his cancellation is void because he was not entitled to cancel to the 15th.  He tried to cancel again to the 31st but by then, he had run out of time and as a result, he is now stuck with that car insurance for another year.  If he had written "or to the nearest legal date", the insurance company would have had to accept his first cancellation to the 31st even though it was written to the 15th.  You should also ask for a reply stating that they have received your cancellation on which they should also write to which date.  You should send your cancellation in written form in a way that you can verify that they got it, for example by registered mail or by fax.  Email is not accepted in Germany as legal written form.

     

    Once you have cancelled it, make sure your tenant is paying the rent to you and not to the manager.  The manager can request his monthly fee from you for as long as the contract is still running.  However, I don't see what else they could possibly ask for.  

     

     

     

     

     @LeonG

    Thanks Alot LeonG.

    This was really helpful.

     

     

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  19. On 2/15/2018, 11:32:01, someonesdaughter said:

     

    I won't make any decisions for you. You wanted advice, I gave it. Take or leave it.

     

     

    If you don't like the answers (and barely want professional advice for free), don't use an open forum. Easy.

    Please read the topic of thread again. It says (letter to property manager) . It does not say advise on my portfolio. So you are giving advise on a topic different from what the tread is about.  

     

    I will use open forum as I want. If you do not like my threads do not comment on them. or use the (Ignore User) option.

    Bye 

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