Buying a house without realtor

57 posts in this topic

 

34 minutes ago, maxie said:

I know this guy is a rare representative of the species, but they do exist.

 

Perhaps you should share his business contact info. 

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16 hours ago, wien4ever said:

Interesting... and where can one sign up for a sugar momma? Just asking for a friend!

 

You just have to find one who is willing to keep you in the manner

to which you wish to become accustomed...

 

You can always check their character : 

c  car

h  hairstyle

a  appetite

r   ruthlessness

a   accumen

c   cash flow

t    temper

e   exuberance

r    reliability

 

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This is In response to the original post,

 

I have twice bought, and once sold, property without the assistance of a realtor.  For all three transactions, contractual matters were handled by the Notar without any problem.  On another occasion I managed the sale of a property I did not own, acting as an agent for the UK Executor of a deceased friend's estate.  For that sale I used a realtor who provided excellent service.  The beneficiaries of the UK Will and I were all pleased with the realtor's service and were happy to pay his fee. 

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On 2/4/2021, 9:05:01, maxie said:

It was a ton of money, but he really earned it. 

How much is a ton ? In Munich if you buy a house for 1.5 million Euro you are paying a Makler over 50,000 Euro. If you buy a house for 750,000 you pay them 25K Euro. Is a 1.5 million house double the work to sell than one half the price ? I don't think so. I'd prefer to pay a flat fee rather than a percentage.

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I remember hearing a financial advisor saying "I always charge a percentage of the total sum".

 

Well, how much is "a percentage"? 

It depended on the total amount: for 500k it was 1%, for 250k it was 2%, for 100k it was 5%...

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3 hours ago, Jonny said:

How much is a ton ?

When we bought the house, almost 14,000 € 

I believe it was 3% plus MwSt from us, 2 % from the seller. Without value added tax about 20 k for him and his team. 

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hi All,

We recently liked one property from PostbankImmobilien. We visited the property and Posbank Makler and PostBank Finance guys were present. They reserved the property for us Kostenlos and we filled a form and signed it. It was basically - Maklervertrag.

 

After that the Finance guy from Postbank sent us some financing offers. In parallel I also checked with one of other financing partners whom I know before. The offer from my financing guy is way better that what PostBank is giving.

 

When I told the Postbank guy that I had some better offer, he was not so impressed. This is what he wrote me back:

 

Dachte wir machen den Termin und die Finanzierung. Hmh…
Wann unterschreiben Sie dort denn bei dem anderen Berater?
 
Did anyone buy property in such circumstances. Am I bound to do financing from Postbank, even though I am getting better offer elsewhere. If he cannot match the outside offer, cant I do the financing from outside?
 
Please advise!
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On 30.9.2021, 11:30:48, DanglingPointer said:

we filled a form and signed it. It was basically - Maklervertrag.

 

It surely depends on what this "Vertrag" states...

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Sounds like he’s just disgruntled ‘Hmh’!  I can’t imagine any Makler Vertrag would suggest you must finance through them.

 

By asking you when you are signing the contract with the other finance company, he may be wanting time to get a better offer for you. Have you asked him is he can match or beat the offer?

 

We got a better finance offer than the one our Makler got us. He asked if he could look at the offer and agreed that it was indeed very good and that we should go for it. We did!

 

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I agree 100% with emkay.

 

If you are canny enough you manage to make him giving you a better offer. People do this all the time buying goods or negotiating terms of employment. Cheeky for sure, unpleasant maybe, certainly neither illegal nor unethical.

 

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54 minutes ago, Gambatte said:

I agree 100% with emkay.

 

If you are canny enough you manage to make him giving you a better offer. People do this all the time buying goods or negotiating terms of employment. Cheeky for sure, unpleasant maybe, certainly neither illegal nor unethical.

 

It’s definitely worth asking…not too awkward these days as asking can be worded very nicely in an email or by phone. I ask for a better deal every year for most of our standing contracts. Usually get at least 10% off. Last year, when the Corona financial pressures started for many people, for my UK insurance, the very nice lady asked me if it’s difficult me to pay. She insisted I said that it was and took 25% off the annual policy cost. Nice!

 

In this case, I’d suggest that the OP writes back and just say that he’d very much welcome a counter offer by x date. Best compare some of the finer points of a mortgage offer…ie overpayment allowance etc.

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On 10/4/2021, 2:50:45, emkay said:

Best compare some of the finer points of a mortgage offer…ie overpayment allowance etc.

 

that is a super good point.  German banks and their Tilgung...   When I had student loans and mortgages in the U.S. the lenders had no trouble with "overpayment" that reduced the principal.  Germans want you to stick to the schedule and won't let you pay off the loan early.  So it is important to see what percentage of "overpayment" they will allow per year.

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1 hour ago, DoubleDTown said:

So it is important to see what percentage of "overpayment" they will allow per year.

Just to mention that you can discuss this with your bank as well when you are going over contract details. You can ask for a higher Sondertilung (amount you can pay off extra per year) though that will probably affect the interest rate. I believe 5 percent is standard but I would not put it past a canny bank manager to put a lower percentage in. If the client is ok with it, all the better. If the client asks for more they can raise it a bit and everybody's happy. 

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5 hours ago, DoubleDTown said:

.  So it is important to see what percentage of "overpayment" they will allow per year.

5% is normally standard, but should be written in the contract. It never harms to ask the rate for higher sondertilgung option. In my case, I was able to get 10% without any change in the plan. 

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With mortgages like 20yr fixed at 1%, do you guys really prefer to do sondertligung rather than putting those money on the stock market?

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On 10/7/2021, 6:12:19, vivanco said:

5% is normally standard, but should be written in the contract.

 

0% is the standard unless you ask. The mere possibility of Sondertilgung tends to raise the interest rate of the mortgage vs. mortgages that don't allow for it.

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