Signing at the notary takes one day, but the longest and least predictable stage comes before it: due diligence, financing and, if needed, setting up a GmbH. After signing, the law and the banks set the timetable: the municipality has up to three months to decide on its pre-emption right, and the price is usually paid within 10–14 days of the notary's letter. The buyer receives the rent from the transfer date, usually on payment of the price, but becomes the owner only on registration.
Before signing, speed decides whether you get the property
In our experience the best off-market offers are allocated in days, not weeks. They go to buyers who have prepared their structure, source-of-funds documents and financing in advance (see Part 12 of the series German Prime Retail). Agree the period for due diligence in the letter of intent, together with exclusivity.
Three formalities cannot be left to the last week. A buying GmbH must be registered before signing: until it is in the commercial register, those who act in its name are personally liable (§ 11(2) GmbHG). A foreign buying company must enter its beneficial owners in the Transparency Register (Transparenzregister) in advance, or the notary must refuse to record the deed (§§ 10(9), 20(1) GwG). If the buyer is a consumer, the notary as a rule sends the draft contract two weeks before signing (§ 17(2a) BeurkG); between companies, the timing is a matter of agreement.
After signing, the law and the banks set the pace
Exhibit 1. Of the deadlines after signing, the municipality's is the longest — up to three months
The municipality must issue without delay a certificate that it has no pre-emption right or will not exercise it (§ 28(1) BauGB) — request it immediately after signing. Without it, and without the tax office's certificate that the transfer tax has been paid (§ 22 GrEStG), the land registry will not register the buyer. Without conclusive proof of non-cash payment, the notary will not apply for registration (§ 16a GwG). On one of our transactions, a forgotten reference deed (Bezugsurkunde) added four hours to the hour and a half spent reading the contract (Part 8).
Registration can come later — and income sooner
Time passes between payment and registration, but economically the property is already yours. On receipt of the price, possession, rent, risk and running costs pass to the buyer, and the seller hands over whatever it receives before registration (Part 8). The buyer's rights are protected by the priority notice in the land register (Auflassungsvormerkung): later dispositions of the property by the seller are ineffective against the buyer (§ 883(2) BGB).
Buying a store under construction takes longer: income starts when it opens — in our experience 9–15 months after signing (Part 6).
Implications for investors
1. Prepare the structure, documents and financing before you look for a property. In our experience the best off-market offers are allocated in days, not weeks.
2. Complete the formalities weeks before signing, not the day before. Until the GmbH is in the commercial register, those who act in its name are personally liable; for a foreign company without its Transparency Register entry, the notary must refuse to record the deed.
3. Request the municipality's certificate immediately after signing. Without it and the tax office's certificate the buyer will not be registered, although the income flows from the transfer date — usually on payment of the price.
What to check:
• the buying GmbH is registered, and the Transparency Register entry made before the visit to the notary;
• the reference deed has been recorded in advance, and you have read it;
• the municipality's certificate on the pre-emption right is requested immediately after signing;
• bank confirmations of every payment are ready by the due date;
• the transfer tax is paid within one month of the notice.
See also: What happens at the notary when you buy property in Germany? · Do you have to attend the notary in person to buy property in Germany? · How do you carry out due diligence on commercial property before buying? · How much does it cost to buy commercial property in Germany?
Sources: BeurkG §§ 13, 17; GmbHG § 11; GwG §§ 10, 16a, 20; BauGB § 28; GrEStG §§ 15, 22; BGB §§ 446, 883; German Prime Retail series, Parts 6, 8 and 12; Gordon Real Estate Group transaction experience. Legal position as of October 2026.
Photo: Jan-Philipp Thiele / Unsplash
This page is general information and not investment, legal or tax advice.