In principal, foreign nationals can purchase all types of real estate without any restriction in the Federal Republic of Germany.

For legally effective acquisition, the conclusion of a notarial real estate purchase agreement is required which will be notarised at auction after bid acceptance.

Costs relating to purchases are approximately as indicated below; the basis of calculation is the purchase price/hammer price at the auction:

Tax on the acquisition of real estate (transfer tax) (for real estate in Berlin, the Federal State Saxony-Anhalt and the Free Hanseatic City of Hamburg 4.5%)	3.5%
Notary's/court fees	about 0.8% to 1.5%
Auction commission for real estate in excess of €60,000.00	6% plus VAT

All convertible currencies are accepted as payment in cash by the Auction House (at the daily exchange rate); banking cheques from member countries of the European Union are also accepted by the Auction House.

After bid acceptance, the commission and a bidding security totalling about 20% of the accepted bid price have to be paid at auction either in cash or by banking cheque. In principle, the purchase price balance has to be deposited within 4 to 6 weeks thereafter.

If foreign bidders want to bid over the telephone, it is necessary to enter into a telephone bidding agreement and an appropriate security deposit - to be fixed by the relevant employee in charge at our Auction House - has to be paid into a trust account of the Auction House prior to the auction. If a bidder is not successful with his/her bid, his/her deposit will be returned to him/her telegraphically on the first workday after the auction.

All documents of relevance to real estate acquisition such as the Auction Conditions, the draft of the purchase agreement to be concluded and to be notarised, the telephone bidding agreement and the exact description of the property put up for auction are available upon request and will be submitted by post, fax or e-mail.

Our English speaking employees and an officially appointed interpreter are present at the auctions as well as an English speaking notary and lawyer.

For English language service in our Auction House, please address queries to the following persons:

Mrs Doreen Haak, Mr Thomas Engel and Mr Hans Peter Plettner.

Berlin, August 2010
DEUTSCHE GRUNDSTÜCKSAUKTIONEN AG