The acquisition of a home, people sometimes go very differently. Some prepare well, spend a lot of time searching for property and choose their real estate loan. Others, on the other hand, are much faster because, for example, they know exactly what they want. In this context, it should be noted that the Internet has led to a certain acceleration. It has never been so easy to find suitable properties and to compare financing offers from different banks.
Do not wait too long with the loan taking
Nevertheless, one must not be fooled, because certain things still need their time. This applies both to the actual transfer of ownership of the property as well as the fulfillment of the so-called pay-out requirements for the loan. It is not possible to take out a real estate loan today and expect a loan payment on the following day.
The reason has already been touched on, namely the payout requirements. Banks pay their real estate loans only after all the crucial requirements have been met. The focus is on the issue of security: For any financing, the lender wants to make sure that a sufficient hedge against.
What the bank attaches great importance to
For example, banks insist on sending a notarised copy of the contract of sale – after all, they may contain clauses that were concealed in advance. In addition, the mortgage must have been registered or adjusted in accordance with the requirements so that the bank can appear as a mortgagee.
Not all proofs to be sent are provided within a few days. Especially the changes concerning the land register take their time. As a rule, it takes several weeks until all preconditions have been created and the bank is ready to pay out. Consequently, it is not advisable to search for a bank just days before the purchase price is due. It is better to schedule a time buffer of at least five to six weeks.