I am aware that you don't require a lawyer to purchase property in Germany as this can be done through the Notar. However the reason why I raised the question is that a Notar is responsible for the transfer of property, it is they who certifies and handles the purchase contract with the authority of the German state.
The Notar is employed to act impartial and will basically certify anything the purchaser and the vendor agree upon which is within the boundaries of the law. The purchaser may not be aware of any hidden pitfalls, the Notar is not there to point the pitfalls out to the purchaser as he must remain impartial.
As with buying any property be it in Germany, UK or Spain or where ever there can be a potential risk. By risk I mean that in purchasing a property you become liable for inheriting encumbrances. The land registry must be checked for charges and a contract drawn up so as to include clauses that the vendor guarantees the discharging of any mortgages, debts an the like registered with the property. Within the building plans there may be restrictions or future building plans that could potentially have a financial negative effect, coupled with the in ability to resell as the property due to a change in building plans that could make the property undesirable to any future purchasers. There may also be large future maintenance costs which have not been fully declared which could turn the purchase of a property into an unworthy investment.
If the property is tenanted this would require searching, as the existing tenancy agreement is transferred with the sale of the property. If this is neglected then the purchaser could potentially inherit a tenant who has a tenancy agreement that wholly favours the tenant and could leave the prospective new landlord with a lot of misery. The new landlord needs to know the tenant pays the bills and not him, also there may be clauses in the agreement which makes it difficult to increase the rent.
As far as I am aware these are not covered in any detail by the Notar as they are responsible for the transfer of property, thus requiring them to remain impartial. The appointment by the purchaser of an independent lawyer would ensure that their lawyer would act purely on their interests and identify any pitfalls that the Notar is unable to make aware to the purchaser.
Please advise if you see this differently.
Reindeer.
P.S. What do you mean by I haven't done my DD. What is DD?
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