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Old 03.02.2019, 17:26
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Re: Mortgage for new flats

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So what happens when the flat is built & the Banks says it's worth 30% less than you are going to pay? This has happened a lot in London over the last 5 years.
What happens when you buy something overpriced follows Darwin's.
Those who best negotiated the price (best adapted to the current/future market) will fare better than those who negotiated poorly and paid too much...

Luckily, Switzerland cannot get out of EU... x-D ...
But you should always take a margin for bad surprises, like: EU reform killing tax-havens like Zug (15y ago bank secrecy wouldn't be debated, now it's fully in :-P...).

Bottomline: Buy smart. And if you don't have the skills or time, outsource it to someone trustworthy (comes with a price :-s!).
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  #22  
Old 03.02.2019, 18:41
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Re: Mortgage for new flats

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You mean you don't know for sure (does this include commune/canton taxes) and you looking to buy storage units in Zurich !!!!!!!!!!!!!!!!!!!!

Some people are getting more excited here than in a pub. :-s

I have the numbers and the Steuer reglement and such well filed. Yet, I don't know it out of my mind (which is a crime, probably). And yes, I won't bother taking the time to verify all my papers at every post I read... get over it. :-P
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  #23  
Old 03.02.2019, 19:06
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Re: Mortgage for new flats

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You mean you don't know for sure (does this include commune/canton taxes)
It would probably be best to ask the notary what the entire cost will be, as often these fees are paid by the notary and then invoiced to the seller and/or purchaser. At least that how it was in our case. The only fees we had were the notary's own fee which was invoiced together with the land registry fee which the notary had already paid. There were no other local taxes/charges.

If you have a mortgage then you may have bank charges to take into consideration.
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Old 04.02.2019, 09:16
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Re: Mortgage for new flats

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My current status with the flat now is: I identified the object and trying to reserve it, but I do not like something from it...one sentence: "Diese Teilzahlung ist weder zu ver-zinsen noch sicherzustellen."
It is a new flat, so they require the 20% first payment now, but this big payment is not secured, as I understand with my limited German from above.
Correct.

Why would you provide interest-free credit in the first place? The builder would have to pay significant interest (clearly more than just one percent), there's no reason to forfeit your fair share.

If the company goes belly up your money is probably lost in full.

If you want to get out of the contract you're completly at the builder's mercy. They may decide to pay back much less than you think you're due (or none at all), in which case you'd have to chase the money with the court's help. That's expensive (costs you'd have to bear) and takes awfully long. Once done the money has probably vanished altogether.

If it takes longer to complete the building/apartment, not only will there be issues with extending the rent of your current apartment, but your money will be blocked as well. What if it takes years longer? No idea but brace yourselves for very bad news.

In short, signing such a clause is begging on your knees for trouble. AFAIK 20-30k is common, perhaps 50k if the house/apartment is relatively expensive. You want to make sure that amount counts towards the purchase price and is to be paid back if the contract goes sour (the builder will have the right to deduct the cost of actual efforts taken but that seems fair).

Mind clauses like "die Garantieleistungen gehen an den Auftraggeber über". Such a clause means that you'll have to go after the subcontractors yourself to get defects repaired. You also want to inform yourself about "Bauhandwerkerpfandrecht" as that may mean that you have to pay twice (once the builder and once the subcontractor) for the same work. And mind the fact that taxes due by the builder that go unpaid may have to be paid by you, the new owner.

Bottom line:
It's probably worth the cost for you to to use the services of a Bauherrenberater.
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