The Home Buyers Agreement is a crucial legal document used in Austrian real estate transactions to formalize and secure the purchase and sale of property. This agreement is essential whenever real estate ownership is transferred between parties in Austria, whether for residential or commercial properties. The document must comply with specific requirements under Austrian law, particularly the ABGB (Austrian Civil Code) and the Land Register Act (Grundbuchsgesetz). It includes detailed information about the property, parties involved, purchase price, payment terms, warranties, and conditions for transfer. The agreement serves multiple purposes: it protects both buyer's and seller's interests, ensures legal compliance, facilitates property registration, and addresses tax implications. A properly drafted Home Buyers Agreement is crucial for successful property transactions and must be notarized to be legally valid in Austria.
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1. Parties: Identification of the seller(s) and buyer(s) with full legal names, addresses, and registration details if applicable
2. Background: Context of the sale and brief property introduction
3. Definitions: Key terms used throughout the agreement
4. Property Description: Detailed description of the property including land register details, property address, size, and cadastral number
5. Purchase Price: The agreed purchase price, payment terms, and payment schedule
6. Transfer of Ownership: Conditions and process for transferring property ownership
7. Representations and Warranties: Seller's declarations about the property's condition, encumbrances, and legal status
8. Property Handover: Terms and conditions for the physical handover of the property
9. Costs and Taxes: Allocation of transaction costs, transfer taxes, and registration fees
10. Registration Authorization: Authorization for land register registration (Aufsandungserklärung)
11. Governing Law: Confirmation of Austrian law application and jurisdiction
12. Execution: Signature blocks and notarization requirements
1. Mortgage and Encumbrances: Details of existing mortgages and process for discharge, used when property has existing loans
2. Tenant Provisions: Required when property is currently rented, addressing existing tenancy agreements
3. Construction Completion: Used for properties under construction, including completion timelines and specifications
4. Property Management: Relevant for apartments, addressing building management and common areas
5. Environmental Provisions: Required when there are environmental considerations or contamination issues
6. Parking and Storage: Used when separate parking spaces or storage units are included
7. Utilities and Connections: Details of utility contracts and connections, used for properties with specific utility arrangements
1. Property Plan: Floor plans, site plans, and land register extracts
2. Property Register Extract: Current land register extract (Grundbuchauszug)
3. Inventory List: List of included fixtures, fittings, and furnishings
4. Energy Certificate: Mandatory energy performance certificate (Energieausweis)
5. Building Permits: Copies of relevant building permits and certificates
6. Payment Schedule: Detailed payment timeline and installment details
7. Property Inspection Report: Technical inspection reports and condition assessments
8. Property Photos: Documented condition of the property at time of sale
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