When selling your condominium, there are a few important points to consider to ensure that everything runs smoothly and is clearly regulated. Once you and the buyer have agreed on the purchase arrangements and the buyer has paid the purchase price, the next step is the handover of the apartment. It is advisable to discuss and record the details of the handover before signing the purchase contract. In addition to the general terms of a purchase agreement, you can also make individual agreements with the buyer. This could be, for example, the transfer of the furniture and the amount of the transfer fee for the furnishings. It is advisable to agree and draw up a handover protocol at the time of handover.
Are you about to sell your condominium? There are a few things to consider when handing over the property
The apartment has been sold, the purchase price has been paid and now it’s time to hand it over to the buyer. You and the new owner determine the time of the handover in the purchase contract. Both parties conclude the terms of the contract several weeks before the apartment is handed over. This is why the contract does not yet contain any handover details. At the time of the handover of your condominium, it is advantageous for you and the buyer to draw up a protocol. The purpose of this document is to record the handover of the apartment in writing and thus create a clear procedure for both parties. If a detailed protocol is available, you can avoid disputes later on. Drawing up a handover protocol also has many advantages for the resale of the apartment. Below you will find the most important information on the subject of a handover protocol for the sale of your condominium.
When does the handover usually take place when a condominium is sold?
The apartment can be handed over to the new owner if all formal requirements are met. Payment of the purchase price does not mean that the buyer is already the new owner. Unless you stipulate this procedure in the purchase contract. In general, however, the change of ownership does not take place until the buyer is entered in the land register. The change of ownership only takes place when ownership is transferred. At this point, the buyer has the right to take possession of the condominium. As a result, it is important for you and the buyer to document a handover protocol.
As the entry in the land register often takes a long time, agreements on the handover of the apartment must be made in the purchase contract. It is generally advisable to hand over the condominium after the purchase price has been paid in full. If the apartment is handed over, this has certain consequences. This gives the buyer the right to dispose of the condominium. All keys must be handed over and you as the seller move out. The buyer can then move into the apartment or rent out the property themselves. If you are selling a condominium that has already been rented out, there is no need to hand over the keys, as the tenant has the keys.
The handover protocol: essential when selling & handing over a condominium
We have summarized the most important aspects of the handover protocol for you so that you can agree clear regulations with the buyer and address the really relevant factors.
1. who must draw up the minutes?
The writing of a protocol in the course of the handover of a condominium is not regulated by law. This also applies to the preparation of the minutes, as there are no general guidelines for this. Nevertheless, it is very important to draw up a handover report, as this can prevent later ambiguities and disputes. If you have commissioned a real estate agent to sell your condominium, they can also take care of the handover. It is just as possible for the protocol to be drawn up by the seller or buyer. The document must be signed by both parties and any witnesses. If defects occur later, the handover report is an important piece of evidence.
2 What are the important contents of a handover protocol?
The record of the handover of an apartment for sale is not much different from the handover record of a rented apartment. The document is just much more comprehensive. All keys must be handed over to the buyer and if any are handed over later, a note must be made in the handover protocol.
All defects must be recorded in the minutes with a corresponding agreement as to whether and when they will be rectified. Record all meter readings (water, gas and electricity). Hand over the invoices for any renovation work carried out and all fixtures and fittings purchased, such as kitchen appliances, radiators and windows. This way, the new owner will have the necessary documents to hand in the event of a warranty claim. Also hand over operating instructions and any existing warranty certificates. Keep a record of whether and for how long you as the seller will bear the costs for the TV connection or waste disposal.
3. what must be included in the handover protocol in any case?
The following points must not be missing from the protocol. There is no such thing as an apartment that is completely free of defects. Therefore, any damage should also be documented in the handover report. When handing over your condominium, a checklist will help you to record all the important facts about the apartment:
- the persons present
- the date of acceptance
- the experts present
- the period
- the defects and, if applicable, the time of rectification
- the object number
- the signatures of those present
You may not be able to reach an agreement with the buyer as to what is a defect and what is not. Unevenness or cracks in the walls can be defects, but they can also be blemishes. If you cannot reach agreement with the buyer, record this in the handover report. Take photos and attach them to the report.
4. what items are handed over?
The following documents should be handed over when selling the condominium:
- Floor plans, static calculations and construction plans
- Tenant files and rental agreements
- Insurance policies
- old land register files
- Energy certificate
- Property tax documents
- Inspection documents (for heating, chimney, sewage system, etc.)
5. who should be present at the handover?
Ideally, both parties should be present at the handover appointment. They inspect the apartment together and draw up the handover protocol. Authorized persons are also entitled to attend the handover. This can be the property manager and a real estate agent. Other neutral persons can attend the handover as witnesses and co-sign the handover report.
If the handover involves jointly owned property, all buyers must be present. In this case, it is advisable to consult a sworn building expert. Take an expert with you to the handover if you do not have the necessary specialist knowledge, for example with regard to construction defects. These can be engineers, architects, lawyers or other experts.
6 What is generally important for the handover protocol?
Even if there is no legal obligation to draw up a handover report, it is an important document for both parties to the contract. Who draws it up is not relevant. However, make sure that all persons present sign the protocol, because only then is it valid. Go through each room of the apartment together and calmly record any defects and special features. Check that all technical appliances are in working order and explain their operation to the new owner. Hand over all the documents you have about the apartment (e.g. warranty documents and appliance manuals).
Record the meter readings for water, electricity and gas. Inform the billing service about the change of ownership. All furniture and built-in parts must be recorded in the handover protocol. If the buyer has any questions or inconsistencies at a later date, you can always refer to the handover report. Take your time at the time of the handover, clarify any open questions together and document what has been discussed. Agreements are only effective if they have been recorded in writing.
A successful apartment handover through good preparation
As with many things in life, the same applies to handing over an apartment: good preparation is the key to success. You can avoid stress and hassle if you structure and organize the handover of your condominium. The handover protocol is an ideal tool for recording the condition of the apartment at the handover. With a well thought-out approach, you can ensure that all the necessary arrangements have been made. Prepare the necessary documents and keys. As the seller, draw up the handover protocol to ensure that all important facts and figures are recorded.
Record all damage and inform the buyer of the existence of the defects. If you jointly agree that the defects will not be rectified, the buyer will not be able to claim compensation afterwards. Make a copy of the handover report so that both parties have a document. You can find more information on documents when selling a home in our article ” All the documents you need to sell your condominium: our checklist“. With optimal organization, you can successfully complete the sale of your apartment and the new owner can happily take possession of their own four walls.
