Complete the purchase and move in

After the checks are done, the purchase moves to its final stage. After this lesson, you will understand the steps from signing the contract to holding the keys.

You will also know what to do in your first weeks as an owner, so your new property stays in good shape.

Signing the contract

The contract, also called the sale agreement or purchase agreement, sets out the price, what is included, and the date you take ownership. Read it carefully with your lawyer or notary before you sign.

Make sure everything agreed is written down. This includes any repairs the seller promised, and items such as appliances or furniture. Spoken promises are hard to prove later.

When and how a contract becomes binding is different in every country. Ask your lawyer exactly what you are committing to, and what happens if either side pulls out.

Paying and transferring ownership

Completion, also called closing or settlement, is the day the money is paid and ownership passes to you. Your lender usually sends the loan money, and you pay the rest.

Before completion, check that your final loan offer is in place and that your own funds are ready. Confirm every payment detail with your lawyer by phone, using a number you trust.

Many buyers do a final walk-through just before completion. This is a last visit to check the property is in the agreed condition and that the included items are still there.

Registering and keeping records

After completion, your ownership usually needs to be recorded with the land or property registry. This record protects your right to the property. In some places your lawyer does this, while in others you may need to act yourself.

Ask your lawyer or notary who is responsible, and by when. Ask for proof once registration is done. Any transfer tax or stamp duty may also need paying by a deadline, so check with the tax office or your lawyer.

Keep every important document safe: the contract, proof of ownership, survey reports, loan papers and receipts. Store copies in a second safe place too.

Moving in and first steps

Your first weeks as an owner set good habits. On moving day, take meter readings and photos of the property's condition. Change the locks if you are not sure who else has keys.

• Set up utilities and insurance in your name.
• Find the main water tap, the main electrics switch and any gas valve.
• Make a list of repairs, ranked from most to least urgent.
• Start a monthly saving habit for future repairs.

For help with upkeep, see our guide to repairs and maintenance. If you plan improvements, take advice before you start work, because some changes may need permission.

If you own from a distance

Some people buy a property in a place where they do not live. If this is you, plan how the property will be looked after. Empty properties can suffer from damp, damage or unwanted occupants.

Choose a trusted person or a professional service to visit regularly, arrange repairs and keep you informed. HagerLand offers property care for owners abroad to help with this.

Common mistakes

• Signing a contract that leaves out spoken promises. Avoid this by making sure every agreement is written into the contract.
• Assuming registration happens automatically. Avoid this by asking your lawyer who registers the property and asking for proof.
• Ignoring small repairs. Avoid this by fixing problems early and saving a little every month for upkeep.

Key points

• Read the contract with your lawyer and make sure every agreement is written in it.
• Make sure your ownership is properly registered and keep all your documents safe.
• Plan for regular upkeep from day one, especially if you own the property from a distance.