Hi
I am investigating the possibility of buying a property in Berlin, with a budget up to €70,000. Having performed a few internet searches, I came across a property portal called EE24 which, upon first impressions, appears to have details of a sizeable number of properties which fall within my budget.
Upon closer inspection, however, those properties which fulfil my criteria appear to be being marketed by agencies who seem to be acting primarily for Russian investors; the name Stimul Consulting is prevalent, and upon visiting their website, the link to the English language version is not functional.
I am guessing that this should be sufficient warning in itself. However, I would be interested in hearing the views of others as to whether EE24 should be considered as a suitable resource for property searches of the kind I am undertaking; and also if there are others who are able to share their experiences of using EE24, or of using any of the agencies such as Stimul, who advertise their properties on this portal.
Finally, I would be grateful for any recommendations for any websites/portals which would be particularly useful for the type of property which I am looking for.
Many thanks in anticipation of your help.
EE24 property portal - any thoughts/experiences?
All property transactions in Germany must be done by an independent public notary. This makes them very safe, as long as you follow the guidelines, have a good look at the property in question and do not send any money before the public notary instructs you to do so.
Thus the risk of using this dubious company is just that you waste some time until you find out they are bogus.
But do keep in mind this general piece of wisdom: If something appears to good to be true, it probably is!
As Beppi mentioned, a property transfer has to go through a notary. This should guarantee that the property actually exist and belongs to the people who claim to own it. It doesn't give any guarantee about the condition of the property or the neighborhood or many other factors that might make the property undesirable. And a shady notary working in connection with a shady realty business is also not unheard of.
I was wondering if you eventually did find out any more about Stimul Consulting since I've recently been in communication with them about their services myself. Some of Stimuls property deals look just to good to be true, so like you were, I'm a bit worried there might be something dubious going on. As it's now several years on from your initial post it'd be great if you could share any experience you may have had if you eventually did use them, or anything else at all you may have eventually found out ? Thanks
NickJM wrote:I was wondering if you eventually did find out any more about Stimul Consulting since I've recently been in communication with them about their services myself. Some of Stimels property deals look just to good to be true, so like you were, I'm a bit worried there might be something dubious going on. As it's now several years on from your initial post it'd be great if you could share any experience you may have had if you eventually did use them, or anything else at all you may have eventually found out ? Thanks
The OP has not been active for 3 years, so it's very doubtful you will get a response.
The company Stimul Group only has a Russian language website, despite dealing with property in Germany. That alone should tell you that you are not among their intended clients (unless you are Russian, of course).
It is typical that many Russians in Germany live in a parallel world to ours, which is dominated by dubious dealings (by rich and well-connected Oligarchs), money laundering and their own version of the Mafia. Not something I want to get involved in!
Articles to help you in your expat project in Germany
Despite the COVID-19-induced economic crisis and thanks to the government's and central bank's relief ...
Frankfurt is an international city and an important financial center in Europe, and each neighborhood has a story ...
Frankfurt has a very lively real estate market, and buying a house there is, without a doubt, a worthy long-term ...
Stuttgart, the capital city of the Baden-Württemberg region, is one of Germany's most diverse cities ...
Cologne is one of Germany's top destinations for visitors and expats. It is the largest city in the North ...
Buying property in Berlin is easier than in most European cities when it comes to the bureaucracy and formalities ...
