Anyone who sells a condominium without an agent saves a commission of easily several thousand euros – but must master not only the usual sales process, but also the special features of the condominium owners’ association (WEG). The declaration of division, minutes of owners’ meetings and service charges play a role here that does not arise when selling a house. We show you step by step how to sell your condominium privately, which documents you need and what you need to pay particular attention to as part of the association.
What Is Different When Selling a Condominium?
Unlike selling a single-family house, when selling a condominium you are not selling a single plot of land, but two inseparably connected parts: your separate property in the apartment itself and the associated co-ownership share of the common property – that is, the stairwell, roof, façade and land. Upon purchase, the buyer also joins the condominium owners’ association and assumes its rights and obligations.
This results in three differences from selling a house that make a private sale somewhat more complex: You need additional WEG documents such as the declaration of division, meeting minutes and statements, you must work with the property management company, and depending on the declaration of division, the manager’s consent may even be required for the sale. Otherwise, the same applies here: There is no obligation to hire an agent. The only mandatory requirement is notarization of the purchase agreement (§ 311b BGB).
The incentive is the same as when selling a house: The agent’s commission is usually between 5 and 7 percent of the purchase price including VAT and, since December 2020, is generally divided equally between the buyer and seller. With a sale price of 300,000 euros, this amounts to several thousand euros that you can save by selling privately.
Advantages and Disadvantages of a Private Sale
Whether selling without an agent is worthwhile also depends on your situation when selling a condominium:
- Advantage – Cost savings: You save your share of the agent’s commission, which can amount to several thousand to tens of thousands of euros depending on the purchase price.
- Advantage – Control: You know your apartment and the association best and control the price, Handle appointments and communication yourself.
- Advantage – direct communication: You can answer questions about service charges, the reserve fund and upcoming renovations immediately and firsthand.
- Disadvantage – paperwork: The condominium owners’ association documents must be complete and up to date. If anything is missing, this delays the sale or makes buyers uncertain.
- Disadvantage – market knowledge: Setting the wrong price costs time or money. The realistic valuation is the biggest challenge.
- Disadvantage – dependence on the property management company: You depend on the prompt delivery of documents and – if necessary – the property manager’s approval.
Seven steps to selling your condominium
Step 1: Value the apartment realistically
Use comparable listings in your area, the condition of the building and the amount of the maintenance reserve as your guide. A well-funded reserve and a well-maintained community are genuine selling points, while a backlog of renovations depresses the price. An asking price that is too high deters buyers; one that is too low costs you real money.
Step 2: Request the condominium owners’ association documents from the property management company
Request the declaration of division, current minutes, statements and asset report from your property management company at an early stage (see checklist below). Obtaining them often takes longer than expected – so take care of this right at the beginning.
Step 3: Create an informative sales brochure
A good sales brochure includes good photos, a floor plan and the key details: living area, year of construction, floor, energy performance data, monthly service charges and the status of the maintenance reserve. Do not conceal any defects or approved renovations – you are legally required to disclose them.
Step 4: Advertise the apartment
Place your listing where buyers search: on property portals and metasearch engines such as TraumImmo. Pay attention to the mandatory information from the energy performance certificate, which must already be included in the listing.
Step 5: Conduct viewings
Prepare the apartment well and have the condominium owners’ association documents ready for serious prospective buyers. Expect questions about service charges, the reserve fund, management and planned measures – transparency will work in your favor here.
Step 6: Check the buyer and clarify the property manager’s approval
Before accepting the offer, ask to see financing confirmation from the bank. At the same time, check whether your declaration of division provides for the property manager’s approval, and initiate this in good timeso that the notary appointment does not stall.
Step 7: Notary Appointment and Handover
The notary drafts the purchase agreement, notarizes it, and initiates its entry in the land register. At the key handover, a handover report including meter readings is helpful; also provide the buyer with the complete WEG documents.
Which documents do I need for the sale?
In addition to the usual property documents, you need several WEG-specific documents for a condominium. For most sales, these are:
- current extract from the land register
- energy performance certificate (mandatory under the Building Energy Act)
- floor plan and calculation of living space
- declaration of division with division plan – it defines separate and communal property as well as the community rules
- minutes of the owners’ meetings from the last three years (usual buyer expectation); minutes must be kept of the resolutions adopted pursuant to Section 24 WEG
- budget and the last annual statements as well as the financial report pursuant to Section 28 WEG, which shows the balance of the reserves
- amount of the monthly condominium fee and the maintenance reserve (Section 19 (2) WEG)
- evidence of modernization work as well as information on approved or upcoming renovations and special assessments
Condominium fee and maintenance reserve: What applies when ownership changes
Two WEG issues regularly raise questions during a sale. The condominium fee is the monthly advance payment that each owner pays for operating and administrative costs as well as the reserve. Following a sale, the buyer is generally liable only for amounts that become due after their registration as owner in the land register. You generally remain responsible for arrears from your period as owner – therefore settle outstanding condominium fees before the handover to avoid disputes.
The maintenance reserve (called the “maintenance reserve” before the 2020 WEG reform) legally belongs to the community, not to the individual owner. Your accumulated share is therefore not paid out to you upon sale, but remains in the WEG account. A well-funded reserve does, however, increase the value of your apartment and can be used effectively in sales negotiations.
FAQ on selling a Condominium without an estate agent
Do I need the administrator’s consent for the sale?
Only if your declaration of division provides for such a restriction on disposal (Section 12 WEG). If so, consent may only be refused for an important reason, for example if the buyer’s ability to pay is evidently uncertain. Without the required consent, the sale is provisionally ineffective—so obtain it at an early stage.
Which WEG documents must I provide to the buyer?
Buyers and their banks generally expect the declaration of division, community rules, the minutes of the most recent owners’ meetings, the current budget, the annual statements and the asset report showing the balance of the maintenance reserve. Request these documents from your property management company in good time.
Will I receive my share of the maintenance reserve?
No. The reserve is the property of the community and remains in the WEG account when ownership changes. It is not paid back to you, but it has a positive impact on the achievable purchase price.
Who is liable for outstanding service charges after the sale?
The new owner is liable for service charges that become due only after the buyer has been registered in the land register. You generally remain responsible for arrears accumulated up to that point. An exception may apply if the community rules expressly provide for the purchaser’s joint liability.
Is speculation tax charged when selling a condominium?
As with selling a house, speculation tax may apply if you sell within the ten-year period and have not occupied the condominium yourself (Section 23 EStG). Property transfer tax of 3.5 to 6.5 percent, depending on the federal state, is usually paid by the buyer.
Conclusion: How to successfully sell a condominium without commission
Selling a condominium without an estate agent essentially follows the same process as selling a house—with one crucial addition: you must have the documents and rules of the condominium owners’ association firmly under control. Anyone who compiles the declaration of division, minutes, statements and asset report at an early stage, properly settles the service charges and clarifies any required administrator’s consent in good time can sell confidently and save the commission. A realistic price, a complete sales brochure and verified buyer solvency remain the greatest levers.