Since buying real estate is a legal matter, have a German lawyer take a look at the contract. The lawyer will also charge on a sliding scale and expect to shell out about €1,000. It’s worth it. Despite heavy regulation on seemingly everything in Germany, the government seems to let down its guard when it comes to real estate contracts, maybe because they expect the notary to make sure no one gets cheated. This is especially true if you’ve found something you like that the seller has yet to build or renovate, which is very common in the boroughs of the former East Berlin.

Construction companies go belly up frequently so, if a project isn’t yet complete, the sales agreement should create a payment schedule according to the completion of specific stages of work. That way, if the builder goes bankrupt, you’ll have no trouble getting the work finished. Successive payments also give the builder reason to complete the work on time – otherwise they won’t be paid. Have your lawyer ensure you’re shielded from every eventuality.

Germany has very strict succession laws, so a will isn’t a necessity, though childless couples may be shocked to discover their spouse’s parents treated as benefactors. A life insurance policy isn’t a bad idea, however, because your survivors will immediately become owners of any debt on the property. If as a buyer you get second thoughts after signing the contract, but no money has changed hands, don’t even think about skipping out. With very little effort, the seller can force you to pay the full amount on the due date, resulting in frozen bank accounts and garnished wages. If you really want out, the seller must agree in writing during another session at the notary’s office.