16. IN WHAT ORDER IS THE PAYMENT FOR REAL ESTATE UNDER CONSTRUCTION IN GERMANY?
The payment of the real estate under construction in Germany is made on the basis of the MaBV (Makler und Bauträgerverordnung) according to the following scheme:
Partial payment of the property under construction in Germany in the amount of 25%, after receipt of notarial confirmation (Right of retention, according to § 632 a paragraph 3 of the German Civil Code, 30%-5% is taken into account)
28% partial payment in Germany for a property under construction after completion of the shell, including work on the rooms
18% partial payment in Germany, after completion of roof, guttering, initial installation of heating, plumbing and electrical installations, as well as installation of windows (including window panes)
Partial payment of 20.5% on the property under construction. Step by step in the transfer of the property.
Partial payment of 5% for the property under construction. Immediately after completion of construction work in due time and without major deficiencies.
Final installment payment of 3.5%. Immediately upon full completion of the housing development, including the underground garage and infrastructure.
The underground garage and infrastructure.
WHEN IS THE FIRST PAYMENT FOR A PROPERTY UNDER CONSTRUCTION IN GERMANY MADE?
The date of payment of the first instalment of the value of the property is notified to the Buyer by the notary and the Seller,
the dates of subsequent payments by the Seller.