Selling Propertythe Process in 10 Steps

1. Clarify goals and timeframe

Before you think about prices, you should know your goals: How quickly do you need or want to sell? Do you need the proceeds for a new property? Should the sale be discreet? Is the property let, inherited or owned by several people? These questions determine the strategy, from the asking price to the marketing.

Important with inheritances and separations: All owners must agree to the sale. Clarify this early, before you confirm appointments with prospective buyers.

2. Determine the market value

The asking price determines success. If it is too high, hardly any enquiries come in; the property gets "burnt" on the portals, and later price reductions look like an admission. If it is too low, you are giving money away.

A sound valuation takes into account comparable sales in your location, the standard land value (Bodenrichtwert), the condition, modernisations and current demand. Online calculators only provide a rough range. More on this in our guide Determining property value, or directly through a free valuation.

3. Gather the documents

Buyers and banks expect complete documents. If they are missing, the financing commitment is delayed, and sometimes the buyer pulls out. These are the documents you will usually need:

• a current land register extract (Grundbuchauszug) and cadastral map (Flurkarte)
• energy performance certificate (Energieausweis), a legal requirement when marketing
• floor plans, sections, living area calculation, building specification
• evidence of modernisations
• for flats: declaration of division (Teilungserklärung), budget plan, service charge statements, minutes of the last three owners' meetings
• for let properties: tenancy agreements, tenant list, utility cost statements

4. Prepare the property

Small measures have a big effect: tidy up, declutter, carry out small repairs, look after the garden, present the rooms bright and neutral. Major renovations before the sale, on the other hand, rarely pay off – buyers often want to design things themselves. You will find tips under Preparing a property for sale.

5. Create the exposé and photos

The exposé is your property's business card. It should include professional photos in good light, a clear floor plan, an honest description of the location and condition, and all mandatory details from the energy performance certificate. A good exposé answers the most important questions before they are asked, and filters out unsuitable prospects.

6. Market the property

Marketing covers property portals, your own website, social media, shop windows – and above all, approaching registered buyers directly. We sell many properties in Oberfranken before they are even advertised publicly. This protects your privacy and prevents a property from losing appeal through long time on the market.

7. Check prospective buyers and hold viewings

Viewings take time. That is why only prospects who are serious and financially able to buy should come. Ask in advance for a financing confirmation from the bank or proof of equity. At the viewing: talk honestly about weaknesses, show the strengths, do not pressure anyone.

8. Negotiate and reserve

Once there is a purchase offer, negotiation begins on the price, handover date, items sold with the property (fitted kitchen, furniture) and any conditions. An experienced estate agent mediates between the parties and makes sure the agreement is recorded in writing. A reservation agreement creates additional commitment until the notary appointment.

9. Purchase contract and notary appointment

The notary (Notar) drafts the purchase contract on the basis of the agreed key terms. Buyer and seller receive the draft at least two weeks before notarisation – for consumers this period is required by law. Check the purchase price, due date, handover date, exclusion of liability and the provisions on existing land charges. More on this under The notary appointment when buying property.

10. Payment of the purchase price and handover

After notarisation, the notary applies for the priority notice of conveyance (Auflassungsvormerkung) in the land register and obtains the banks' cancellation approvals and any required permits. As soon as everything is in place, the notary sends the notice that payment is due; the buyer pays. Only once payment has been received do you hand over the keys – with a handover report including meter readings. The transfer of ownership in the land register follows a few weeks later.

How long does selling a property take?

At FrankenImmo, the average marketing period is around 85 days.

Example: timeline for a detached house in Hof

A typical case shows how the ten steps interlock in practice: a detached house from the 1970s in Hof-Krötenbruck, 140 m² of living space, oil heating, owner-occupied, with the owners moving to a flat in Bayreuth.

Every week, the owners knew what was coming next, and were able to plan their move accordingly. This kind of predictability is often worth more in a property sale than a few thousand euros' difference in price.

Your legal obligations as a seller

A property sale is not a deal between strangers in which everyone only looks out for themselves. The law requires openness from the seller in several places:

• Energy performance certificate: The mandatory details from the energy performance certificate must already appear in the property advert (type of certificate, energy performance value, main energy source, year of construction, efficiency class). The certificate must be presented at the latest at the viewing. If it is missing, fines of up to €10,000 may be imposed. More on this under Energy performance certificate.
• Duty of disclosure: You must disclose known defects that a buyer cannot easily see – such as damp in the cellar, a past dry rot (Hausschwamm) infestation or missing building permits for an extension. The usual exclusion of liability in the purchase contract does not protect you in the case of fraudulent concealment.
• Money Laundering Act (Geldwäschegesetz): Since 2023, property in Germany may no longer be paid for in cash. The notary and estate agent must verify the identity of the contracting parties. So keep your identity card to hand.
• Taxes: Before selling, check whether speculation tax (Spekulationssteuer) applies – especially for let properties or for flats you bought only a few years ago.

Selling a let property

If the property is let, the principle "sale does not break a lease" (§ 566 BGB) applies: the buyer takes over the existing tenancy agreement, with all rights and obligations. For you as the seller, this means:

1. The target group changes. Instead of owner-occupiers, you mainly appeal to investors. For them, rental yield, rent development and condition count – not the furnishings. You will find background information under Calculating rental yield.
2. Viewings only with notice. Tenants must allow viewings by arrangement, but not at any time. Timely, friendly coordination is half the battle here.
3. Check the pre-emption right. If a rented flat was converted into a condominium after the tenancy began, the tenant has a pre-emption right on the first sale. Details in the guide Pre-emption right.
4. Complete the documents. Tenancy agreements, rent increases, utility cost statements and an overview of deposits belong in every data room.

We often market larger let properties specifically to investors from our network – more on this under Investor matching.

Selling in special life situations

Many sales in Oberfranken have a personal background. In that case, additional rules apply:

• Inheritance: Before the heirs can sell, they must be entered in the land register or present a certificate of inheritance (Erbschein) or a notarised will with the record of its opening. A community of heirs (Erbengemeinschaft) can only sell jointly. Covered in detail in the guide Inheritance.
• Divorce or separation: If the house belongs to both partners, an agreement is needed – otherwise a partition auction (Teilungsversteigerung) looms, which almost always brings a worse price. See Property in a divorce.
• Moving in later life: Anyone moving into assisted living or closer to their children often needs a flexible handover date. Alternatives such as property annuities (Immobilienverrentung) can be worthwhile if you want to remain living in the property.

The five most common mistakes when selling

1. Pricing by gut feeling. Your own purchase price plus inflation is not a market value. Current comparable sales are what count.
2. Incomplete documents. Banks today demand more evidence than ten years ago. Every missing document costs weeks.
3. Viewing tourism. Without proof of financing, many curious people come, but few buyers.
4. Verbal assurances. Nothing is binding until the notary appointment. Record agreements in writing.
5. Keys before money. Only hand over the property once the purchase price has been received in full in your account.

Our guide Avoiding mistakes describes further pitfalls. You will find a compact list to tick off in the Checklist for sellers.