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Buying a property in the area of Wiesbaden/Mainz

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kcsizzle23

Hello my fellow expats, I’m Kenner and new to the area from San Antonio, Texas. I’m curious and asking this group the best tool to find a house/flat to purchase. If you’ve gone through buying a property in the area of Wiesbaden/Mainz and don’t mind sharing your experience and don’t mind getting your brain picked let me know. Thank you in advance!

beppi

Check webpages like immoscout24 - and be prepared to pay a hefty agent's commission.

kcsizzle23

@beppi thank you, this is the same app I’m currently on.  Do you know any other means to look for properties without or lower commission?

TominStuttgart

There are local newspapers including ones given out free like Wochen Blatt that are full of advertisements of all kind including one's for property that people are selling directly without a real estate agent. The purchase and transfer of property has to be finalized over a notary which was formerly at the cost of the purchaser but now must be paid by the seller.


There are also ads on TV for a online realty service that doesn't charge purchasers but I don't remember the name off hand.

beppi

It's still a seller's market, so as long as they can engage an agent and the cost of that is fully borne by the buyer, very few sell without an agent who does the gritty footwork for them.

This might change in the not to far future, so if you want to save on the commission and are able to wait, then try again in a year or so! (Prices might also reduce slightly by then.)

kcsizzle23

@TominStuttgart thanks Tomi, I will search the paper on line since I won't have a permanent address yet. 

kcsizzle23

@beppi copy that, i appreciate your recommendation.  Yeah, I don't think Germany and the US has the same market at the moment since the market price here is slowly going down.  Any idea of the current average mortgage rate?

beppi

If you ae new in Germany, I strongly suggest to NOT buy aproperty untilyou understand the market and know what you are doing! (Unkess you have a few hundred thousand to spare and won't cry about losses.)


Any idea of the current average mortgage rate?
-@kcsizzle23



Currently around 4%, on a steep upwards trend.

But without a known credit history here, you may have to pay more (if you get a mortgage at all).

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