What documents are required from the owner to purchase a property?

Rudolphe ABENRudolphe ABEN - NEXTIMMO.LU

Rudolphe ABEN

What documents are required from the owner to purchase a property?

It is the responsibility of the buyer to know everything there is to know about the property. There are still some required rituals to be observed in Luxembourg, while others are merely suggested.

The Energy performance certificate (EPC): A Property Sale Obligation

The EPC, also called an "energy passport," is one of the necessary documents at the close of a sale. Creating an energy passport actually requires the seller to consult with professionals before listing the property for sale. Greenhouse gas emissions are estimated from the energy consumption data collected in the energy passport.

The buyer receives this data after it has been transmitted. People who are in the market to buy a home typically have low energy consumption as one of their top priorities, making this a very important consideration. A home with poor insulation and high heating costs will be worth less than one with the same square footage and features that meets the most stringent thermal standards.

To paraphrase the article, "all owners who have never performed an energy passport — or whose document is more than 10 years old — should request this expertise prior to the sale."

Having an EPC on hand isn't enough to close the deal; you should get one before you even start writing ads. These details are essential for potential buyers to make an informed decision about your property, so be sure to include them in your ad.

All owners who have never completed an energy passport, or whose document is older than ten years, are required to request this service prior to selling their home.

In order to plan ahead financially, you need to know the household expenses

The vendor can provide photocopies of his fixed-cost invoices, such as his utility bills. You can also request a copy of the last three statements of charges from the trustee for the apartment. These records are invaluable to a buyer because they spell out exactly how much money will need to be paid each month for the house or apartment.

The heating bills, along with the Energy Performance Certificate, should inform your decision. If you find that they are unusually high, don't be afraid to inquire about the vendor's customs and whether you will be expected to pay the same (some people spend more because they are simply more chilly!).

“If heating costs continue to be affordable, that will be a positive factor in your final decision”.

Buying a condo: a unique circumstance

Buying an apartment in a building automatically makes you a part owner of the entire complex. To determine the annual fees of the previous owner, you will need to obtain the minutes from the most recent meeting and any relevant financial statements. The meeting minutes will reveal any major projects that have been planned. Budget for regular upkeep as well as unexpected breakdowns and repairs.

Knowing all the works that were decided by the General Assembly of co-owners prior to the deed of sale and that remain the responsibility of the seller unless otherwise specified in the said deed of sale is helpful in this regard.

Acquiring all of these items at the time of purchase is much more likely if a real estate agent is present. Experts will be able to direct your every move and give you confidence. They'll make sure your paperwork is in order and legal, and that you have all the knowledge you need to buy a home with peace of mind.