Danger: Apartment without building permit! Damages for buyers?
This video is a must-see for anyone planning or potentially planning to buy a condominium in the next few years – whether for their own use or to rent it out.
It's about a problem that many people aren't even aware of, but we encounter again and again in practice: You look at an apartment that has been occupied for many years or decades, then sign the purchase agreement, and later find out that the unit lacks a building permit for use as a condominium – it simply doesn't exist.
The consequence is that the unit you purchased cannot be occupied as a condominium without a permit. This, in turn, would result in great trouble and high costs for you. Can you cancel the purchase agreement in this case? Or will you receive compensation from the seller? In this video, I report on a judgment in such a case.
And you'll learn what you absolutely must agree to in the notary contract to prevent something like this from happening to you.
►► Higher Regional Court ruling: https://www.rv.hessenrecht.hessen.de/...
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Many buyers fail to recognize the significant costs and risks that a lack of a permit can entail, because the unit cannot be occupied as a residence without this permit. For subsequent rezoning and legalization, a new building application must be submitted, in which everything is reviewed. Among other things, fire safety is often a difficult issue. Providing evidence of parking spaces, cellars, or storage rooms can also be challenging, and there are many other structural issues to consider. In any case, all of this costs money and time; for an apartment, it can easily reach five-figure sums and take six to 12 months... or even longer.
However, when purchasing existing properties, it is standard practice for any liability for material defects to be excluded in the notarized purchase agreement – the catchphrase is "sold as seen." The only exception to this is if the seller was aware of defects at the time of sale but intentionally concealed them fraudulently. A lack of a building permit for the use of the property as an "apartment" is also a material defect.
The only problem is: The buyer must prove that the seller knew about the defect when the contract was concluded. Or it must be objectively evident that the seller should have been aware of it. Only then can he claim damages or even demand the rescission of the purchase agreement.
How can you, as a property buyer, prevent such a disaster and be sure that your property is legally permitted to be used as a residence? In this video, we provide two concrete tips on what you should definitely clarify during the purchase inspection and what you should also include in the notary contract.
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►► If you would like to buy a condominium, but without the risk of not having a permit for residential use – even for certain areas – please contact us. We clarify this beforehand for properties that clients purchase from us.
►► Message the AMS Group: [email protected]
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►► Have you ever discovered significant defects in a property after you purchased it? How did you react? Did you try to hold the seller responsible and seek compensation? And if you sued, how did it turn out? Feel free to share your experience in the comments, as your experience can help others in a similar situation.
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We help our clients achieve financial freedom through real estate. We do this with over 20 years of experience. We would now like to share this expertise with you on our YouTube channel. If you'd like to expand your real estate knowledge or even invest your capital in real estate yourself, then you've come to the right place.