Hi All,

First of all I would like to wish you all a Happy New Year.
I was reading the forum before but never posted anything so far.
With my husband we decided to buy our first apartment in Kanton Aargau (not so far from Zurich). We found our dream one already and over the weekend agreed to buy it. But the whole process seems to me like an endless tunnel... and I have no idea where to start.

Could anyone please help us with a kind of step-by-step guide, to have an idea at least of the first steps (like reservation,mortgage,notary etc)?

Thank you for your help in advance.

Hello

1- do your homework, before taking a decision
- how much is your deposit for the loan? It should be greater or equal to 20% of the total mortgage in Switzerland. What is your borrowing capacity?
- meet with your banker or mortgage company (comparis.ch can help) but Banque Migros seems to be the cheapest
- check the taxes in your canton (income taxes, housing, environmental) and the place you wish to live.......
- check the constraints in terms of schools, transport,s parking, shops, ....
- pre-negotiate a loan with the banker, JUST BE CAREFUL, if the bank refuses to lend the money (and you have applied on the internet), a second application with the same banker might be refused as well, as they kept the record of the first one. When applying, just make sure you understood the type of loan (fixed, or whatever) and that they cannot refuse it.
- check all costs involved including transactions fees, property transfer and title deed, and taxes.
- plan for extra money in the mortgage if repairs/improvements are needed. Get quotations rapidly (a nightmare) and check with any constraints.... Remember that converting a patio into a bedroom might take 12 to 24 months for the autorisation by municipal / cantonal authorities to be released.

2- scout for a flat (I believe you have done that)
- make sure that you understand CLEARLY the rules of the block: no washing on Sundays, no pets, no this, no that.... Ask them in writing before.
- make sure you understand clearly the LIABILITIES: communal charges, disturbances, (try to visit during a normal week day)
- check the environment ( an agent tried to sale a house next to an Asbestos factory: yes in Switzerland)
- make sure all certificates are cleared: electricity network, cable, gas installation fioul tank, hearting system, lead tests, ... and properly documented. You want them all cleared before you sign. If not done, you will NOT be able to transfer property title.


3- sign a deal

4- Pay


5- Move in

Welcome to the Forum

Pl share the location where you are buying

From a financial point of view with regards to resale, I would say push the bank to see if they will agree to 85% or 90% mortgage. If they say no, probe as to why. NAB and AKB know their markets well. I have just bought somewhere, and found it easier than in the UK. The banks should provide a step by step list, which is slightly different in some Kantons. Keep doing lots of comparisons on sites like http://www.nabhome.ch/omega8/suche.phtml until you sign. It helps to go in to the notary without any lingering doubts.

Whether the contract of buying appartment in swizterland has the same format or not? Do we necessarily to put all details of internal apartment into this contracted. The thing is that we visited the appartment currently still being occupied and most possibly being occupied by the time we sign the contract. In this case, how could we make sure the status of appartment is kept the same when we get the key? I am quite confused about the procedure of signing the contract with the seller. Seller will draft the contract or there is a common format?

Besides, where could we find the notary, who can speak both English and German?

Thanks.

On the day of final handover of keys, do you need to take any kind of Momento or a wine bottle or anything else?

If yes what and who all do you take it for, we have 3 parties involved

1. The previous owners ofcourse
2. Their Trading agency( hired by the previous owners for Sale)
3. Bank Agent who did mortgage formalities for us.
4. Notariat ( I am assuming, we can be the most formal with him)

We don't want to be overly friendly but don't want to miss on a cultural gesture.

Thank you for your inputs.