Because we aim to establish long-term relationships with our clients, we want to ensure you will be financially comfortable during the entire investment period. The first thing we do is match a property which will suit your individual financial situation to make sure you will not become financially overextend in the future.
When reserving a property you will be introduced to a lawyer specialising in property transactions. The lawyer is employed solely by you and is your representative during the whole purchase process. You deposit €3,000 into an escrow/client account that the lawyer holds exclusively in your name and on your behalf in order to secure the property in your name.
You will then sign a certified power of attorney enabling the lawyer to act in your name and on your behalf. At the same time, you pay an advance on the transaction costs into the escrow account.
The lawyer will carry out a legal due diligence on the property and will explain the purchase process to you, answering any questions that you may have. He will provide you with his Legal Review Report on the property prior to signing the purchase contract.
If you need finance, we can introduce you to a financial partner who specialises in non-resident mortgages and UK equity release. After providing them with all relevant documentation required to obtain a mortgage, you should have an offer in two weeks.
Once you are happy to proceed (and finance is in place), the lawyer will represent you and act on your behalf at the signing of the purchase contract before a German notary. You will not be required to come to Germany in person for the contract signing.
The lawyer will oversee the entire conveyance process and ensure that you receive good title. After successful registration of your title with the German Land Registry, the lawyer will provide a final balance statement for you and transfer the remaining funds from your escrow account back into your designated bank account.