INTRODUCTION

Are real estates in Germany undervalued?
Some people think so. Especially, if you compare estates in Germany with foreign markets, you might find often a good and stable value.
But the market is very differentiated.
In the eastern countries of Germany the overdrawn prices have collapsed, but even there you might still find areas with remarkable chances.
Quite a few real estates in the western parts of Germany are indeed undervalued - but some offers are overprized - full of technical and legal risks.

You may find interesting offers with www.immonet.de or www.immobilienScout24.de or with www.immowelt.de, where most of the estate agents announce a certain part of their offers.
These internet portals may give to you a first interesting impression about the market.
But thereafter you need independent advice.
Estate agents in Germany are paid only, if the buying (selling) contract was signed.
I ask for payment just for giving irrespective consultation.
I am experienced in planning. Besides knowledge of the market and town planning aspects, I know a lot about refurbishing costs.

Within this paper I try to give to you an overview about the main items to be considered.
In which areas is it wise to look for properties, which way you should seek for offers.
Where are special risks , how to prepare the contract?

I work as an independent consultant. I am not a broker or an real estate agent.
My main part is to give to you an advice concerning the quality of the estates, which are offered to you, either by the owners themselves or by estate agents.
I work especially in Hamburg, Bremen and Berlin, but I have a profound knowledge in the eastern parts of Germany and I have experienced good friends all over Germany, I coop with.

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