From chalets in the Swiss Alps to luxury apartments in Zürich or Geneva, having your own real estate in Switzerland is the ultimate dream. But sometimes, that dream has to come to an end. There may come a point in your life when you have to sell your property in Switzerland
. Will you know what to do? Do you how you can do it properly? Or more importantly, legally? If not and it's you not and it's your first time doing it, then learn all the basics of the process by relying on this real estate guide.
What Are The Costs of Selling Your Property in Switzerland?
To sell your property in Switzerland, you need to prepare a huge budget. That caught you by surprise, didn't it? Don't think that just because you're the seller in this situation means that you won't be spending some of your own money. This process comes with a few costs, namely the notary fees, the capital gains tax
, and registration fees at the Land Registry. Not to mention the commission you have to pay your real estate agent
if you hired one. On top of that, you also have to pay some mortgage costs if you still have one on the property you plan to sell.
Should You Sell Your Property Privately in Switzerland?
Although it will really help you, selling your property in Switzerland through real estate
isn't a requirement. You can it on your own
if you wish and it will even lessen the costs you have to pay. With that said, you should only attempt to do this if you're already familiar with the process. If it's your first time selling real estate in Switzerland, however, you're better off hiring a professional to help you. It can't be stressed enough how complex this country's real estate laws are. Especially since they differ from canton to canton. You can easily get into a lot of trouble if you're not careful.
How Do You Make a Property Valuation in Switzerland?
Conducting a property valuation is one of the most important steps of selling real estate in Switzerland. Normally, it's the buyer who does this, mostly as part of their application to get a mortgage
. But that doesn't mean you can't do it yourself as well. In fact, you'd do well to conduct a valuation prior to putting your property in Switzerland for sale. Why? Because it's through this that you can get the true value of your real estate. And from there, you can set an initial asking price when you finally put it on the market. Don't worry! If you hired a real estate agent, a valuation is likely part of their services. If not, then you can hire a third-party company to do it.
How Do You Survey Your Property for Selling?
A valuation is only one of the many surveys needed to sell your property in Switzerland. The are others that you can conduct to find out the true state of the property. You'd even benefit from doing those first because this way, you can discover what will need fixing and get to them right away. From the working utilities to even the windows and doors, there are many things that buyers will look for in a property
. Getting all the repairs done and sprucing the place up won't just attract many potential buyers, but can also help increase the value of the place.
How Do You Market Your Property in Switzerland?
Once you've spruced the place up and gotten the results of the valuation, it's time to put your real estate in Switzerland on the market. And arguably the most effective way, especially in this day and age, is to have it listed on a top property listing website
. Practically everything is up on the internet nowadays anyway, why would your property be any different? By getting featured in a popular property portal, more potential buyers can check it out. Even international buyers who aren't even in the country yet. And if you want to reach them, choose platforms like Homegate
What is The Process of Notarizing Your Property in Switzerland?
Among the many people you need to help you sell your property in Switzerland, the notary is the most important. It's their role to certify and legalize every step taken throughout the process. If not for your notary, you can't even legally put your real estate in Switzerland for sale, much less sell it to another person. There are a few requirements that you'll need that you can only get with the help of the notary. Not to mention a few important steps to take too, like checking the legal status of your property. Fortunately, each canton provides a list of recommended public notaries that you can choose from.
What Documents Do You Need To Sell Your Property?
Speaking of the important documents you need for this process, they include the title deed, zone map, Energy Performance Certificate, documents relating to your mortgage (if still applicable), documents relating to leasing the property (if applicable), and proof of your identity (your valid passport will do) for good measure. You'd do well to gather all of these before you even start the process of selling your real estate in Switzerland. This way, you're guaranteed to have a quicker and ultimately smoother sale moving forward. Especially since acquiring some of these can take a lot of time.
How Do You Set Up the Sale & Purchase Contract?
Once everything is ready, your notary will then set up the sale & purchase contract. During this part of the process, it will benefit you to get involved. The sale & purchase contract is among the most important documents in the entire process. It's what will legally bind you and the buyer to the sale, which will then require you to see it through to the end. So while it's being drawn up, include some terms and conditions that will allow you to exit the agreement in light of certain situations. Only then can you bow out without facing any consequences.
What are The Legal Issues in Selling Your Property in Switzerland?
Since selling your property in Switzerland is such an important process, it's only natural that it contains many legal issues
. On the topic of the sale & purchase contract, for instance, it was previously stated that bowing out of the agreement without setting terms and conditions that allowed you to do so will lead to big consequences. This is true! After signing the contract, the buyer will then have to pay you a deposit of around 10% to 30% of the final price of the property. If you bow out of the agreement afterward, then you'll have to pay the buyer back double the amount of the deposit.
How Long is The Process of Selling Your Property?
The length of time it will take for you to sell your property in Switzerland depends on various factors. As already mentioned, there's the gathering of all the required documents. If you've already prepared them beforehand, there you have a better chance of completing the sale after only two to four months, at most. And that's including whatever delays or problems you might face throughout the process. If not and you haven't prepared any important documents early on, then the process can easily take as long as six months or possibly even more!
What are The Best Tips for Selling Property in Switzerland?
Let's end this real estate guide with some helpful tips
! Firstly, always follow the Duty to Act in Good Faith
according to the Swiss Code of Obligation. Though it's not necessarily a requirement, it's better that you still do it. When the buyer asks a set of questions about the property, be as honest as you can be. This can help you escape any liability if there's ever a defect discovered on the property. Secondly, set a move-out date. You don't want to get thrown out of a property you once owned, right? Then set a schedule of when you can move out and the buyer will have no choice but to follow it too.
If you thought selling your property in Switzerland was gonna be easy, think again. The process is more complex than you think! Fortunately, this real estate guide can introduce you to all of the basics so you'll have a good idea of what to do.