Sell a Property in Luxembourg
Sell a Property in LuxembourgUpdated on Wednesday 22nd February 2023
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Luxembourg is a sought destination by both foreign citizens and investors looking to relocate here for work, respectively business purposes. This is why the real estate market has developed a lot during the last years. There are also many foreign citizens who have come to Luxembourg and bought a property and when returning to their home countries sell the respective property.
No matter if you want to buy or sell a property in Luxembourg, there are certain aspects you should take into account. Our lawyers in Luxembourg can guide you in both cases.
Preparing the Luxembourg property for sale
Homeowners seeking to sell a property in Luxembourg should first prepare the house before putting in on the market. Whether repairing or simply renovating the house, one should know that the purchaser has the right to inspect the property before the sale takes place.
When selling a property in Luxembourg it is also helpful to list it with accredited real estate agencies who can facilitate the process of finding a buyer. After the purchaser is found, legal assistance should be sought when drafting the sale-purchase agreement. Our law firm in Luxembourg can assist with the preparation of this type of contracts.
We are also at your disposal with solutions for immigration to Luxembourg. If you are a citizen of a third country, you will require both a residence permit and an authorization to stay document in order to work in Luxembourg. Your company will need to sign a National Employment Administration form stating that they have made every attempt to hire a local worker because EU citizens are given preference.
Steps to sell real estate in Luxembourg
If requesting the services of a real estate agency, the seller and the representative of the agency should conclude a mandate contract. The real estate agent would be able to advertise the property and even present it to potential buyers based on this contract.
Those selling new properties in Luxembourg should also prepare an energy performance certificate which should be handed to the buyer upon the signing of the agreement. Once this formality is concluded, the parties may sign a purchase agreement through which the buyer promises to buy the property or directly the sale-purchase contract. No matter the case, the buyer is usually required to pay a deposit before purchasing the property.
The transfer of the property is usually completed before a public notary. The fees for the notary services are set by law.
If you want to sell a property and need assistance, do not hesitate to contact our attorneys in Luxembourg. They can also help you draft the sale-purchase agreement.