What is the Purchase Process in Switzerland
The property purchase process in Switzerland goes through the following stages:
- Offer acceptance
When an offer is made through an agent there may be some negotiation on price, depending on the seller’s individual circumstances. With an off-plan purchase, there tends to be less room for negotiation.
- Reservation contract
Once the price is agreed, then as a non-resident foreign buyer you must sign a « declaration of intent ». This is non-binding, but is required as the first step in the process of obtaining your foreign buyers permit. It also ensures the property is no longer marketed to attract other bidders while you go through the rest of the buying process.
- Get a mortgage
Swiss banks tend to offer up to 70% of the property’s purchase price (or up to 50% for properties over the value of 2.5 million francs. Local banks may offer more value than some of the bigger names as they will have better knowledge of the area.Appoint a notary
A notary works for both seller and buyer and is usually appointed by the buyer. They offer an impartial service that ensures all the legalities of the process are handled correctly and fairly for both parties. We can introduce you to reliable English-speaking notaries.