How a purchase works

1. Work out what you can afford

Before you view anything, talk to your bank. It will tell you the price up to which it will lend. With that figure you search with more focus and negotiate with more confidence. Mortgage and equity

2. Search and view

You look at properties, and we get in touch when we hear of a suitable one. For every property you are serious about, ask for the documents: land register extract, plans and, for flats, the regulations and minutes. The viewing

3. Offer and reservation

You name your price; the seller accepts or negotiates. This is often followed by a reservation agreement with a deposit. Important to know: in Switzerland a property purchase only becomes binding once it has been notarised as a public deed (öffentliche Beurkundung; Art. 216 of the Swiss Code of Obligations, OR). The same applies to preliminary contracts. A simple written reservation therefore does not oblige either side to go through with the purchase, and a deposit must in principle be refunded.

4. Secure the financing

The bank assesses the property and issues the loan agreement. For the notarisation it provides an irrevocable promise to pay. This tells the seller that the purchase price will be paid on the agreed date.

5. Notarisation by the notary

The notary drafts the purchase contract, both sides review it, and it is then signed together. The notary is neutral and owes a duty to both parties. Read the draft at your leisure and ask about anything that is unclear. Pay particular attention to the warranty clause. For existing buildings the warranty is frequently excluded; you then bear the risk of hidden defects. The exception is defects that the seller has fraudulently concealed (Art. 199 OR).

6. Land register and handover

The notary files the purchase with the land register, the purchase price is paid, and ownership passes to you. You receive the keys on the date agreed in the contract. From that day on, benefit and risk are yours, which includes the building insurance and the running costs.

How long it takes

The pace is set by the bank, the notary and the date on which the seller moves out. For the registration itself, the Basel-Stadt land registry quotes around four to eight weeks in normal cases.

What we do along the way

Dieter Ruf accompanies you through all six steps. He reads the land register extract and the draft contract with you and tells you what he considers usual about them and what he does not.