New obligation to test identity: This is how the real estate market is changing!

New obligation to test identity: This is how the real estate market is changing!

If you want to get into the real estate market in Hesse, you should currently deal with a brand new set of rules that significantly changes the customs in real estate transactions. In particular, the Geldwäschesetz-Regulation Ordinance Immobilien (GWGlandtV-Immobilien), which came into force on February 17, 2025 for new duties Real estate agents and other professional groups involved.

With the aim of combating money laundering in the real estate sector, lawyers, notaries and other experts must adhere to more stringent reporting obligations. These changes result from such a high risk of money laundering that incriminated funds are often converted through real estate. Particular attention is paid to sales in which the consideration deviates significantly from the recognized market value or payments in cash and through cryptocurrencies.

essential innovations and their effects

The newly introduced ban is particularly concise to use cash, cryptocurrencies or even precious metals for real estate purchases. If the due date of the purchase price deviates from the registration of the purchase contract without understandable reasons, notaries must report this. This serves to prevent attempted bypasses. In certain circumstances, buyers and sellers must now expect to be under "general suspicion", which could result in massive effects on real estate transactions.

as well as the Information from WohnGlück confirm, real estate agents are required to examine the identity of all contracting parties. Necessary documents include an ID card for natural persons or a commercial register extract for legal entities. These documents must be kept for at least five years. A misconduct can lead to the imposition of fines of up to 150,000 euros, while serious violations can cost up to one million euros.

Another point that should not be unnoticed is the liability for the correctness of the information offered. Customers are responsible for checking the object information, which is why it is essential to rely on the expertise of real estate specialists who also offer free valuation.

The energy consumption in focus

A crucial criterion in the evaluation of real estate remains energy consumption. The energy consumption ID of a certain object has an final energy consumption of 163.00 kWh/(m²*a) and is valid until August 27, 2025. The object in question is a property from 1980. The energy efficiency class F makes it clear that there is a need for action to keep the energy costs in check and act more environmentally friendly.