The Real Estate Purchase and Sale Agreement is a fundamental document used in Austrian property transactions to formalize the transfer of real estate ownership between parties. It is essential for any real estate transaction in Austria, whether residential or commercial, and must comply with strict formal requirements including notarization and registration in the land registry (Grundbuch). The document covers crucial aspects such as property description, purchase price, payment terms, warranties, and specific Austrian legal requirements. It's particularly important as real estate transactions in Austria involve significant formal requirements and specific tax implications. The agreement serves as the basis for the notarial deed and subsequent land registry registration, making it a critical document in the property transfer process.
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1. Parties: Identification of the seller and purchaser with full legal names, addresses, and registration numbers if applicable
2. Background: Context of the transaction and brief description of the property being sold
3. Definitions: Key terms used throughout the agreement
4. Property Description: Detailed description of the property including land registry details (Grundbuch), property address, and cadastral number
5. Purchase Price: Specified purchase price, payment terms, and escrow arrangements
6. Payment Terms: Schedule of payments, including deposit and final payment details
7. Transfer of Ownership: Conditions and process for transferring title in the land registry (Grundbuch)
8. Representations and Warranties: Seller's warranties regarding property condition, encumbrances, and legal status
9. Due Diligence: Buyer's inspection rights and due diligence process
10. Taxes and Costs: Allocation of transfer taxes, registration fees, and other transaction costs
11. Handover: Process and timing for physical handover of the property
12. Notarization: Requirements for notarial deed and execution process
13. Governing Law: Confirmation of Austrian law as governing law and jurisdiction
14. Execution: Signature requirements and execution process
1. Existing Tenancies: Details of any existing tenants and treatment of lease agreements, used when property is not vacant
2. Mortgage and Encumbrances: Provisions for dealing with existing mortgages or other encumbrances, used when property is not unencumbered
3. Development Rights: Special provisions regarding building permits or development potential, used for undeveloped land or properties with development potential
4. Environmental Conditions: Specific provisions regarding environmental issues or contamination, used when environmental concerns exist
5. Utilities and Connections: Special provisions regarding utility connections or shared facilities, used when relevant to the specific property
6. Furniture and Fixtures: List of included or excluded items, used when sale includes movable property
7. Condition Precedents: Specific conditions that must be met before completion, used when there are special requirements
8. Agent Commissions: Details of real estate agent fees and responsibilities, used when agents are involved
1. Property Plans: Official cadastral plans and property boundaries
2. Land Registry Extract: Current extract from the land registry (Grundbuchauszug)
3. Property Photographs: Current photographs documenting the property's condition
4. Inventory List: Detailed list of included furniture and fixtures, if applicable
5. Building Permits: Copies of relevant building permits and certificates
6. Energy Certificate: Mandatory energy performance certificate (Energieausweis)
7. Maintenance Records: Documentation of recent maintenance and repairs
8. Property Tax Records: Recent property tax assessments and payments
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