Selling your property in Geneva
Selling an apartment or a house in Geneva? Here are the steps, the documents to prepare and the points to plan for.
Valuing at the right price
A well-valued property sells faster. Valuation is based on recent sales of comparable properties in the area, then on condition, floor, view, outdoor space and, in co-ownership, charges and the renovation fund. A price set too high drags the sale out and often ends up falling.
Preparing the documents
Land register extract, plans, list of works carried out and, for a co-ownership apartment, the regulations, minutes of recent owners’ meetings, budget of charges and renovation fund balance. A complete file reassures buyers and their bank.
The brokerage mandate
If you entrust the sale to a broker, a written mandate (art. 412 CO) sets the asking price, the tasks, the duration and the fee. Read it before signing, so you know what is done for you and at what cost.
Selling a let property
The current lease passes to the buyer with the property (art. 261 CO). A let apartment mainly interests investors; viewings are organised with the tenant, respecting their rights.
Taxes and mortgage
In Geneva, the profit made on a sale is subject to the tax on real estate gains, whose rate falls with the length of ownership. If your mortgage is fixed-rate, repaying it before maturity may incur a penalty: talk to your bank early.
Signing
The sale is concluded by notarial deed, after which the notary registers it in the land register. The price is usually paid through the notary on the day of signing or of the transfer of ownership.