Have you inherited a flat and are now facing a mountain of organisational and legal questions? Selling an inherited property involves many pitfalls, from valuation to taxes. With our comprehensive checklist, you can turn this challenge into a clear, manageable process.
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The topic briefly and concisely
First, obtain the certificate of inheritance and have the land register corrected; this is the legal basis for the sale.
A professional, data-driven valuation is crucial to achieving the best possible price and avoiding conflicts in inheritance communities.
Pay attention to the 10-year period for capital gains tax to avoid high payments to the tax office.
Inheriting a property is an emotional and financial exception for most people. Instead of feeling joy over the inheritance, uncertainty often prevails: What is the flat worth and how do I sell it for the best price? A lack of knowledge can quickly lead to losses of over 10% of the market value. This guide offers you a practical checklist for selling an inherited flat as a PDF alternative, guiding you through all phases step by step. This way, you make data-driven decisions and maximise your proceeds.
Step 1: Establish legal foundations – Certificate of inheritance and land register
Before starting the sales process, you must prove your legitimacy as the owner. The first step is to apply for a certificate of inheritance at the relevant probate court, which typically takes 4 to 8 weeks. This document proves your right of inheritance and is a prerequisite for the next step: correcting the land register. The transfer to your name is mandatory and can take up to an additional 6 weeks. Plan for this buffer of at least 3 months from the outset. An incomplete proof of ownership will immediately halt any sales negotiations. Once you are legally registered as the owner, you can proceed with the valuation of the property.
Step 2: Accurately and objectively determine the market value
Are you expecting a community of heirs? Then a neutral evaluation is essential to avoid conflicts. An inaccurate price estimation is one of the most common mistakes and costs sellers an average of 15% of the potential proceeds. Free online calculators often provide only a rough estimate that inadequately considers the specific features of your property – such as micro-location or renovation needs. For a well-founded decision, you need a data-based analysis that incorporates over 100 relevant factors. A professional evaluation is the foundation for a successful pricing strategy. With a clear understanding of the value, you can plan the next steps. Find out here what your inherited property is really worth. With a valid sale price in mind, you can start assembling the necessary documents.
Step 3: Gather all sales-related documents
A complete set of documents signals professionalism and can speed up the sales process by up to 4 weeks. Potential buyers and financing banks require full transparency. Missing documents lead to delays and can even cause a sale to fall through. The following list serves as your central checklist:
Current land register excerpt: Not older than 3 months, it confirms ownership details.
Declaration of division: Defines the private property (apartment) and common property.
Valid energy certificate: Legally required, it must be available at the latest by viewing.
Minutes of the last 3 owners' meetings: Provide insight into planned renovations and the community climate.
Service charge statements and current financial plan: Show running costs and the level of the maintenance reserve.
Current floor plan: A professional, scaled drawing is often more effective than an old sketch.
Calculation of living space: An official document for the exact specification of area.
These documents form the basis for a meaningful brochure. Once your documents are complete, you must check the tax conditions.
Step 4: Know and Legally Avoid Tax Traps
Two types of tax are relevant when selling an inherited flat: inheritance tax and speculative tax. The inheritance tax applies to the value of the estate, with high personal allowances available. For children, the allowance is €400,000, for spouses even €500,000. If the value of the flat is below this, often no tax is incurred. Use our inheritance tax calculator for planning. The speculative tax is due if less than 10 years have passed between the purchase by the deceased and the sale by you. However, if the flat was used exclusively by yourself in the year of sale and the two preceding years, the tax is waived. Knowing the deadlines precisely is crucial for your financial planning. With clarified tax issues, you can approach marketing strategically.
Step 5: Choose the right sales strategy for your flat
You essentially have two options: selling privately or hiring an estate agent. While selling privately initially saves you the agent's commission of approximately 3.57%, it requires a significant time investment of around 150 to 200 hours. You will need to create a brochure, advertise on over 10 different platforms, coordinate viewings, and conduct price negotiations. A professional partner can accelerate the sales process by 50% and often achieve a higher price through targeted marketing. Consider whether you have the necessary time and expertise. A professional presentation, including home staging, can increase the selling price by up to 15%. The right strategy depends on your personal situation and paves the way for the final closing.
Step 6: Mastering the Handling of a Community of Heirs
Selling from an inheritance community presents particular challenges, as all co-heirs need to work together. Every decision, from the asking price to the acceptance of an offer, requires unanimity. This leads to conflicts in over 30% of inheritance communities. To avoid disputes, you should establish a clear communication foundation early on and document all decisions in writing. A neutral, data-based property valuation is an invaluable tool to objectify discussions about the property's value. If no agreement can be reached, often the only last resort is a partition auction, which usually results in a sale below market value. Read more about how to sell a house from an inheritance community. Once consensus is reached, nothing stands in the way of the final step.
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The final phase of the sale requires the utmost care. Once you have found a buyer, their creditworthiness must be checked. A financing confirmation from their bank provides you with the necessary security before you schedule the notary appointment. The notary draws up the draft purchase agreement, which both parties typically receive 14 days before the appointment for review. Take your time to check every detail. The notary acts as a neutral entity but does not advise you on your economic interests. After signing, the notary arranges for the priority notice of conveyance in the land register. The purchase price is paid only when all the conditions stipulated in the contract are met. The process concludes with the handover of the apartment, during which you should compile a detailed handover report to record the condition of the apartment. This protects you from later claims.
Conclusion: Your Path to a Successful Home Sale
What is the difference between a consumption certificate and a demand certificate?
The consumption certificate is based on the actual energy consumption of the residents over the last three years and is simpler to produce. The demand certificate analyses the construction and technical facilities, calculating the theoretical energy demand. For buildings with fewer than five apartments built before 1977, the demand certificate is mandatory.
Can I sell an inherited apartment that still has an outstanding mortgage?
Yes, that is possible. The remaining debt is paid off from the purchase price as part of the sale. The notary ensures that the seller's bank receives its money and the land charge is deleted from the land register before the remaining amount is paid out to you.
How quickly do I need to update the land register after inheritance?
The correction of the land register is free for heirs within two years of the inheritance. After this, the regular fees apply. However, for a sale, the correction is mandatory, regardless of this period.
What is a declaration of division and where can I obtain it?
The declaration of division is a document that divides a building into individual residential units (separate ownership) and common property. It is filed at the land registry and can be requested there as a certified copy.
As a seller, am I liable for defects I was unaware of?
The purchase contract usually includes a comprehensive exclusion of warranty ('sold as seen'). This means you are not liable for defects that were visible during the inspection. However, fraudulently concealed defects, those you were aware of and intentionally did not disclose, are exempt from this.
How can Auctoa assist me in the sales process?
Auctoa offers an objective, AI-supported property valuation that provides a neutral, data-driven basis for your pricing strategy. This is particularly valuable in heir communities to avoid conflicts. Additionally, with our inheritance manager or a conversation in the ImmoGPT chat, you can quickly and easily clarify initial questions.
Additional useful links
The Statistische Bundesamt provides information on construction prices and property price indices in Germany.
The Bundesfinanzministerium provides information on inheritance and gift tax.
The Verbraucherzentrale explains who is required to have an energy certificate for properties.
Wikipedia offers a comprehensive overview of the land registry office, its tasks, and functions.
The Bundesministerium der Justiz und für Verbraucherschutz provides the legal text on private capital gains (§ 23 EStG).
The Verbraucherzentrale Energieberatung provides information on home purchasing and property inheritance.
FAQ
What is the difference between a demand certificate and a consumption certificate?
The consumption certificate is based on the actual energy consumption of the residents over the past three years and is simpler to create. The demand certificate analyses the building fabric and system technology and calculates the theoretical energy demand. For buildings with fewer than five apartments that were built before 1977, the demand certificate is mandatory.
Can I sell an inherited apartment that still has a mortgage on it?
Yes, that's possible. The remaining debt is paid off from the purchase price as part of the sale. The notary ensures that the seller's bank receives its money and the mortgage is removed from the land register before the remaining amount is paid out to you.
How quickly do I need to update the land register after an inheritance?
The correction of the land register is free of charge for heirs within two years of the inheritance event. After that, the regular fees apply. However, for a sale, the correction is mandatory, regardless of this deadline.
What is a declaration of division and where can I get it?
The declaration of division is a document that divides a building into individual residential units (separate property) and communal property. It is filed with the land registry and can be requested there as a certified copy.
Am I liable as a seller for defects I was unaware of?
In the purchase contract, a comprehensive exclusion of warranties is usually agreed upon ('bought as seen'). This means you are not liable for defects that were apparent during the inspection. However, deceitfully concealed defects, meaning those you were aware of and intentionally did not disclose, are excluded from this.
How can Auctoa help me with the sales process?
Auctoa offers an objective, AI-supported property valuation, providing a neutral and data-driven basis for your pricing strategy. This is particularly valuable in inheritance communities to avoid conflicts. With our inheritance manager or a conversation in the ImmoGPT chat, you can also quickly and easily clarify initial questions.
