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NOTARISATION AND COMPLETION PROCESS
Once a purchase has been agreed in principle, your Client Services Team representative can introduce you to a recommended notary in Berlin.
The notary in Berlin will send you an email directly outlining the purchase process. As per regulatory guidelines the notary will invite you to Berlin to notarise (exchange) your contract however should you be unable to travel to Berlin you can request a Power of Attorney (POA) document. IP Global can recommend a trusted partner for your POA who will represent you in front of the notary. This POA document must be notarised at the German Consulate or through an apostille if you are based in UK. The signed copy of the POA must be scanned and emailed to the notary and the original copy must be sent to the notary by recorded mail.
The notary will then request the sales contract from the developer and begin the necessary due diligence. The due diligence process should take no longer than two weeks which corresponds to the statutory amount of time that a buyer has to withdraw from the purchase.
Upon conclusion of the due diligence, the notary will advise the purchaser to proceed to notarisation. This represents the final opportunity for a client to cancel their reservation.
Upon notarisation, the property purchase is legally binding and the purchaser must complete on the property. The notary will then request certain acquisition costs from the purchaser:
Notarisation and Land Registration fees payable upon notarisation Property Acquisition Tax payable approximately four weeks after notarisation First Stage Payments payable approximately four weeks after notarisation
GRANT POA
DUE DILIGENCE
NOTARISATION STAGE
PAYMENTS PRACTICAL
COMPLETION
Continued stage payments will then be made by the purchaser until Practical Completion.
At the point of notarisation the role of the notary on behalf of the individual client is fulfilled. For ongoing legal advice and support you will be directed to a legal advisory firm who work with the notary department.
