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There are numerous estate agencies or specialised websites in Munich to help you find your dream home. For example you can try:
Apart from rental contracts, there is no law regulating commissions. It can be negotiated, and in most cases is between 5 and 7 percent of the purchase price. In some cases the buyer pays the commission in full, in many others it's split between buyer and seller and in some instances agents receive their commission exclusively from the seller.
You can get a mortgage for 100% of the cost of your property but it is generally recommended that you can afford at least 20% of the down payment. Interest rates for mortgages are presently below the long time average, ranging between 4.90 percent and 6.15 percent, depending to some degree on the duration of the financing plan. Most mortgages are for 10 or 20 years.
Once a property has been found there will be costs
that can be conservatively estimated at about 10 percent of the purchase price.
In addition to the agent's commission, there will be a property transfer
tax (3.5%) a notary fee (1%) and additional small administrative costs, perhaps
including the hiring of an interpreter. For a more detailed look into the property
buying process in Germany, log onto the link below.
http://www.howtogermany.com/pages/housebuying.html
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