Before putting your house or flat up for sale, you need to carry out the following checks and preparations:
Who owns the property?
If your property is owned by more than one person, everyone must agree to the sale. If you are a co-owner of a share, you will be able to sell your share.
When several people form a community, each person's rights apply to the entire property. The rights and duties of the members of the community are determined by the rules of the legal or contractual community that unites them. In the absence of other rules, the rights of the community members, in particular the right to dispose of the property, can only be exercised by virtue of a unanimous decision.
According to art. 602 of the Swiss Civil Code, the heirs shall jointly dispose of the assets that depend on the estate, except for the rights of representation and administration reserved by contract or by law. At the request of one of the heirs, the competent authority may appoint a representative of the community of heirs until the time of partition (art. 602 al. 3 CC).
If you have inherited the property, you form a community of heirs. All the heirs must sign the deed of sale of the property, unless the competent authority has appointed a representative.
The family home
According to art. 169 of the Civil Code, a spouse may not, without the express consent of his or her spouse, dispose of a flat or villa that serves as a home for married or civil union spouses, with or without children. If consent cannot be obtained, a judge's authorisation is required.
Person entitled to sign a deed of sale
The person must be of full age and capable of discernment. In Switzerland, the age of majority is 18. Persons capable of discernment but deprived of the exercise of civil rights may only enter into a contract of obligation with the consent of their legal representative.
If your home is currently rented
Do not offer your home to the current tenant. Take the necessary precautions to avoid problems. For more information, read my article or watch my video ‘Selling a rented flat: how to proceed’.
Development zone, controlled selling price
If you own a flat in a development zone, check whether the selling price is still subject to state control. The State of Geneva sets the selling price of flats in the development zone for a period of 10 years from the average date of entry of the first owners. The sale price will be set by the property department of the Office cantonal du logement et de la planification foncière (OCLPF). If the 10-year period has not yet expired, you will not be able to sell your flat to a buyer who wants to rent it out. Renting out is prohibited, and a derogation may only be granted for just cause from the maximum rent applicable.
Authorisation to sell a flat in the canton of Geneva
Check whether the sale of your flat is subject to authorisation. If so, you will need more time to complete the sale once you have found a buyer. You cannot apply for authorisation to sell without knowing the name of the buyer. This is a lengthy process. In principle, notaries offer to sign a forward sale with a conditional deadline, which they set at 6 months. The sale request will be published in the Feuille d'avis officiel.
The current mortgage
If you have taken out a mortgage for a long period and the expiry date is a long way off, you will have to pay compensation to your borrower for the early termination. There may also be costs involved in terminating a variable mortgage. Some creditors do not charge compensation if the buyer takes over your mortgage on the same terms with the same lender. Ask your mortgage lender for details and the relevant calculation. The mortgage can be assigned to the buyer, even if he or she takes out the mortgage with another financial institution.
Mortgage schedules for mortgages that have been paid off
If mortgage notes exist for mortgages that have been paid off, you will need to know where they are or look for them. If you do not know where they are, you will have to have them cancelled through legal proceedings, which will delay the date of the property sale. If you have inherited the property and do not know whether there is a mortgage, you can obtain a full extract from the land register. Mortgages are recorded in the land register.
Advance withdrawal from the 2nd pillar
If you have used an advance withdrawal to finance your main home, you will have to repay it if you sell to a third party who is not a beneficiary. This is compulsory. If you intend to reinvest the proceeds of the sale corresponding to the advance withdrawal in your principal residence within 2 years, you can transfer it to a vested benefits institution. Then, if you actually reinvest this amount in a new home within the 2-year period, you are not obliged to repay it.
Preparing your property
Continue to maintain your property for sale. Carry out minor repairs, such as replacing broken windows, switches, light bulbs, etc. Tidy up and clean the interior and exterior. Keep the garden and balcony tidy. A clean and tidy house sells better and at a higher price than a dirty house full of little defects.
Where to stay if you're selling your main home
If you're selling your main home, I strongly recommend that you start looking for a new place to live. Don't underestimate the housing shortage, especially if you want to relocate to Geneva.
When to sell
As soon as you know when the villa or flat will be available and the initial checks have been made, you can put it up for sale. Spring and summer are the best times to sell. Homes are brighter and gardens prettier than in winter. You also need to find the right moment when you're ready to leave. It's not always an easy decision.
Who should I appoint to sell my property?
A real estate broker with a federal licence or a qualified property manager who has completed the federally-recognised professional training course in real estate brokerage. A professional broker is capable of answering all the complex questions and providing support and advice throughout the sales process. This benefits both buyers and sellers. What's more, a professional broker gathers all the relevant information and documents, analyses them and then estimates the market value.
I would advise you not to use one of those property brokers who offer you a sale service at a cheap fixed price. Their estimates are based on algorithms of average selling prices and not on their expertise. In the end, they cost more because you have to do a lot of the work yourself, such as visits and negotiations, and you won't get the best price.
How long does it take to sell?
The time it takes to sell a property depends, among other things, on the current market situation and a realistic estimate of the selling price. The sale contract is often subject to one or more conditions or to a certain future event. In these cases, a promise to sell or a forward deed of sale must first be signed, and the date of entry into possession is not immediately possible. For example, a mortgage may not be issued immediately, or the seller may not be able to release the property until a later date.
