Transfer of ownership and notarisation when selling a house
When selling an apartment or house, many legal steps need to be dealt with in order to transfer ownership properly from the seller to the buyer. We’ll show you what you need to consider when selling.
Public notarisation of the property contract
Notarisation is an important step when buying a house. The purchase contract between the buyer and seller is certified by a notary so that it is valid under Swiss Law.
This certification is not just a legal requirement – it also serves to protect both contracting parties by ensuring fairness, transparency and compliance with all legal provisions. Both parties must be present for the notarisation of the purchase contract.
To show their consent, they must both sign the contract. During the certification process, the contents of the contract are explained, the parties’ identities are verified, questions are clarified and all legal requirements are satisfied.
Notarisation is a key moment in the property sale process, as it lays the foundation for a legally binding and secure transfer of ownership. As a rule, the costs for this are borne by the buyer.
Documents required for notarisation
The documents required for notarisation may vary from case to case. However, the following documents are always required for notarisation:
- Purchase contract
- Valid ID or passport
- Proof of ownership
Before notarisation: Important steps
Several steps are required so that the notarisation process goes smoothly. This phase includes agreement on the purchase price, clarification of financing and preparation of the sales contract.
The irrevocable promise of payment
An irrevocable promise of payment is a binding promise made by the buying party’s bank to the selling party that the agreed payment will definitely be made. This commitment provides sellers with additional security, as payment is guaranteed regardless of future circumstances.
The property sale process is thus made safer and more trustworthy for both parties, as the promise emphasises the obligation of payment for all parties involved and creates a clear financial basis for planning.
Notarisation costs
Notary fees vary from canton to canton, and there may even be differences within the same canton. If no fixed fees are laid down by the canton, it is advisable to obtain quotes. There is also a fee for the land registry entry, which is calculated as a percentage of the sale price.
Transfer of ownership: entry in the land register
The legal transfer of ownership of a property takes place only after the new owner has been entered in the land register. This step follows on from notarisation and is crucial to the process of selling a house. The sale of the house is not completed until it has been entered in the land register.
The time taken to transfer ownership usually depends on the processing time of the competent land registry office and can range from a few days to several weeks,. The land registry enters the change of ownership using the notarised purchase contract.
As a rule, the notary’s office will forward the necessary documents to arrange the registration. This process ensures that the transaction is officially documented.
Payment of the mortgage
In order to obtain a mortgage from the bank, certain requirements must be met and specific documents presented. As a first step, the bank checks and approves the mortgage based on various criteria such as creditworthiness, property value and other points.
In addition, a notarised purchase contract, approval for the new owner’s entry in the land register and proof of insurance are required.
The necessary documents include the purchase contract, the approved loan agreement, a current extract from the land register, proof of building insurance and, if necessary, a valuation of the property.
Once all required documents have been submitted and approved, the length of time until the mortgage is disbursed may vary, depending on the particular bank and the complexity of the purchasing process. Regular and efficient communication with the bank and the provision of all necessary documents help to prevent delays.
After transfer of ownership: taxes and fees
After a property has been sold, various costs and taxes are incurred. These may differ from region to region. They include property gains tax and property transfer tax, which applies when there is a change of ownership.
In addition, notary and land registry fees may be incurred for the transfer of ownership. Applying for a new building insurance policy or amending it after the transfer of ownership may result in additional expenses. It is advisable to find out about these potential costs in advance in order to be financially prepared for any eventuality.
Frequently asked questions about notarisation and transfer of ownership
Is it possible to have the purchase contract amended after it has been notarised?
Yes, it is generally possible to amend the purchase contract after notarisation. However, for that to happen, both parties must agree to the change. In addition, the purchase contract must be notarised once again after the change.
Can the selling party withdraw from the contract after notarisation?
No, it is generally not possible to withdraw from the contract after notarisation. Special contractual withdrawal clauses or serious legal deficiencies are exceptions that allow the contract to be contested.
How long does it take for the proceeds of the sale to be credited to the account?
This period varies. Payment is generally made after the transfer of ownership and the fulfilment of all contractual conditions.
