McZed (@McZed) on getquin

3Mon·

Question on the topic #immobilien (Sale) 🏠

A good friend of mine has owned a small, nice 2-room apartment in the center of a medium-sized East German city (Chemnitz) for about 25 years, but it hardly #miete generated. We're talking about a low three-digit sum per month. 💶

A few days ago, he received a call from a prospective buyer who already owns 4-5 properties in the city, some of them in the same residential building. Unfortunately, my friend - just like me - doesn't know how to measure the current value of his property so that he can negotiate a fair price. #deal could negotiate. 🤝 There are also only 1-2 comparable properties on the internet. 🫤

He also wonders whether it is particularly wise to sell the property at all. He wouldn't need to, it's been paid off for a few years and he would simply invest the (probably) mid-high five-figure sum in #fonds or #festgeld not in another property.📈

Hence my question to the #community Have you ever had to make a similar decision? What are the criteria for selling/holding a property and how would you go about selling a property? #bewertung and the sale of a property? Maybe even seek advice?👨‍💼

Looking forward to your insights!

7 Comments

Christoph@Huskyboy

3Mon

Hey, so I'll go into the price a bit in the comment (but I have to say that I'm not an expert either and my knowledge only comes from books etc.) so they say that the apartment should pay off with the rent in about 20-25 (but can also depend a bit on the location) years so you can already calculate a value. What you can also look at is what the price per square meter is for other apartments in the area in buildings of a similar age (if an apartment is smaller, however, this can also be somewhat higher).

And whether it is worth it or not you can actually calculate the return when you have determined a price, you can calculate how much return the rent brings + any increase in value of the apartment and then compare this with a fund, e.g. at Unigloba approx. 6-7% per year.

Ps. Sorry for my spelling but I wrote it on my cell phone and I don't pay much attention to it.

•

Roberto Zertifikato@trader64

3Mon

I was faced with a similar decision two years ago, not so far away in Zwickau. However, it was a four-party house. Rents are really bad and there are a lot of vacancies and people moving away, at least in Zwickau. I registered with 2 of the big estate agent portals at the time to get an initial free estimate of the value. The local savings bank also had a real estate analysis on its homepage. These three figures were then quite close to the (very sobering) sales proceeds. In the end, we didn't care, take the money and run. Since then, the money has been hopped up as overnight money until further use. In the nineties, I actively renovated several apartment buildings in Chemnitz myself, there was the special depreciation scheme, and I would say, if it's not the Kaßberg in a beautiful location, get rid of it.

••

NiMe@NiMe

3Mon

comparative value or net asset value method for pricing. otherwise play poker and simply name your desired price.

••

Armin@WaldiArmin

3Mon

Go to a real estate financier, such as Interhyp/Dr. Klein or similar. Here you usually take 3 programs. These are all 3 subject to a fee and therefore it is not possible for you to make a quick assessment. If you take the average of the three, you are well off. However, you should also look at the well-known portals (Immoscout/welt) to see what is realistic based on the year of construction/modernization. This will give you a price per square meter for each apartment. Additional features such as a parking space/hobby room are then added on top. You always have to invest suggestively in a property. If the price per square meter is right and there is a renovation backlog, why not sell and buy something "newer" .... or invest elsewhere. However, if you want to be very precise, then you need to appoint a surveyor who will set the price based on his report. Whether you can find a buyer for the price is another matter (supply/demand principle).

••

erT@erT

3Mon

Purchase price = annual net cold rent multiplied by a factor (usually something between 20 and 30, depending on the location). Plus e.g. reserves in the WEG or minus costs for upcoming renovations. The best way to calculate the fair basic rent is with a rent index and comparable properties. That would be a point of reference. If there is no ongoing pressure, I would simply set a slightly higher figure and see what comes back.

••

Gehebeltes-EFH@Gehebeltes-EFH

3Mon

https://www.schwaebisch-hall.de/baufinanzierung/wissenswertes/immobilienbewertung.html?

••

Show answer

Join the conversation