Anyone who sells without an estate agent saves the commission—but also takes on the task the agent would otherwise handle: checking the buyer’s ability to pay before going to the notary. A failed sale costs time, nerves and often money. We show you which documents allow you to assess a prospective buyer’s creditworthiness reliably, what data protection permits and how to protect yourself without appearing unprofessional.
Why Checking Creditworthiness Is So Important in a Private Sale
A common misconception is: “The notary will make sure I get my money.” That is only partly true. The notarisation process does in fact protect you from losing ownership without being paid. The notary first arranges for an Auflassungsvormerkung (priority notice of conveyance) to be entered for the buyer in the land register and only then sends the maturity notice once all requirements for the transfer of ownership have been met. Ownership is finally transferred in the land register only once the purchase price has been paid. Notarisation is mandatory for every real estate sale (Section 311b BGB).
The actual risk lies elsewhere: If a buyer signs the contract but is then unable to pay, you will not be “expropriated”—but you will have to laboriously reverse the purchase, lose several weeks and may be left with costs. During this time, your property is tied up and effectively off the market for other prospective buyers. This is precisely the gap that a creditworthiness check closes: It is the risk protection that an estate agent would otherwise provide.
Which Documents Demonstrate the Ability to Pay
A buyer’s ability to pay consists of two components: equity and the bank loan. You should have evidence of both before arranging a notary appointment.
The Bank’s Financing Confirmation
The most important document is the financing confirmation (also called a financing commitment). Pay attention to one crucial distinction:
- A general financing certificate only confirms that the buyer could, in principle, afford a property in a particular price range. It is non-binding and of little value to you.
- A binding, property-specific financing confirmation specifically names the buyer, the address of your property and the agreed purchase price. It is only issued after the bank has carried out a creditworthiness and property assessment.
Insist on the property-specific version. Only this shows that the bank intends to finance your exact sale – and not just any project of a similar scale. A current issue date is important, as older confirmations lose their significance.
Proof of Equity
Banks generally do not finance the entire purchase price. The buyer must cover the ancillary purchase costs – above all the real estate transfer tax of 3.5 to 6.5 percent, depending on the federal state, as well as notary and land registry costs of around 1.5 to 2 percent – and usually contribute part of the purchase price from their own funds. Have the available equity proven by a current bank statement or securities account statement. The buyer may redact sensitive information that is not necessary for the assessment.
The Buyer’s Schufa Self-Disclosure
A clean payment history completes the picture. As a private seller, however, you may not obtain a Schufa report on the buyer – Schufa only provides creditworthiness data to contractual partners with a legitimate interest, and you do not qualify as one. Instead, ask the buyer to voluntarily provide you with their own self-disclosure:
- The data copy pursuant to Art. 15 GDPR is free of charge and can be requested at any time.
- The paid credit report (around 30 euros) is the compact, presentable version without internal raw data.
Since 17 March 2026, Schufa has reported the new score on a scale from 100 to 999. It is based on twelve disclosed criteria and divides creditworthiness into the categories “Excellent”, “Good”, “Acceptable” and “Increased risk” (Verbraucherzentrale). A value in the upper range is a good sign – but the property-specific financing confirmation remains decisive.
Data Protection: What You Should Consider When Checking
When assessing creditworthiness, you process sensitive personal data. The General Data Protection Regulation sets clear limits here. For you as a private seller, this means:
- Only with consent. You may only view a financing confirmation, bank statement or self-disclosure if the buyer voluntarily provides it to you. The legal basis is consent pursuant to Art. 6 DSGVO.
- No unauthorized Schufa inquiry. Anyone who obtains information about a third party without authorization risks legal consequences and complaints to the data protection supervisory authority.
- Economical and confidential. Request only what you really need, and destroy the documents of rejected prospects after the sale has been completed.
Ask for the evidence fairly and at an early stage: Serious buyers are familiar with this procedure and willingly provide their documents. Anyone who persistently refuses is often a warning sign.
The order in which to proceed
- Clarify interest and price. Conduct the negotiations until a basic agreement has been reached.
- Request evidence. Before the final commitment, ask for the property-specific financing confirmation and proof of equity, and optionally for the Schufa self-disclosure.
- Check the documents. Do the name, address, and purchase price match? Do the financing and equity together cover the total price including ancillary costs?
- Only then go to the notary. Schedule the notarization appointment only once the ability to pay has been demonstrated. This will help you avoid unnecessary costs for a failed contract.
Advantages and disadvantages of checking the buyer’s creditworthiness yourself
- Advantage – security: You identify prospective buyers who are unable to pay before costs arise.
- Advantage – time savings: A verified buyer brings the sale to a swift conclusion without unpleasant surprises.
- Advantage – clarity: Anyone who properly documents their financing is serious – this creates trust on both sides.
- Disadvantage – tact required: Asking for financial documents may seem uncomfortable. Explain politely that this is customary in every serious sale.
- Disadvantage – no one-hundred-percent protection: A financing confirmation is a snapshot. If the buyer’s circumstances change, the bank may still revoke its commitment.
- Disadvantage – data protection obligations: You are responsible for handling the data confidentially.
FAQ on checking the buyer’s creditworthiness
As a private seller, may I obtain a Schufa report on the buyer?
No. Schufa provides creditworthiness data only to its contractual partners with a demonstrated legitimate interest. As a private seller, you are not one of them. Instead, ask the buyer to voluntarily provide you with their own self-disclosure.
Which proof is the most meaningful?
The bank’s binding, property-specific financing confirmation. It names the buyer, property and purchase price and is only issued after an assessment by the bank. A general financing certificate is not sufficient for this.
Does the buyer have to show me their documents?
There is no legal obligation to do so. However, you may make the provision of proof a condition of the sale. In practice, reputable buyers readily accept this.
What happens if the buyer does not pay after the notary appointment?
Your ownership only transfers to the buyer once full payment has been made – so you will not be expropriated. However, after setting a deadline, you must reverse the contract, which takes time and blocks the property. A good preliminary assessment prevents precisely this.
Can I rely on the financing confirmation one hundred percent?
It is a strong indication, but not a guarantee. If the buyer’s financial situation deteriorates between confirmation and disbursement, the bank may still stop the financing. Therefore, make sure it has a recent issue date.
Conclusion: Check before you sign
Checking creditworthiness is the key safeguard that you must take into your own hands when selling without an agent. Request a property-specific financing confirmation, have the buyer provide proof of equity and – with due discretion – ask for the buyer’s Schufa self-disclosure. Always ensure consent and confidential handling of the data. Those who clarify the buyer’s ability to pay before the notary appointment sell faster, more securely and without unpleasant surprises.