The Form For Real Estate Purchase Agreement is a comprehensive document template designed for property transactions in Austria. It is essential for documenting the sale and purchase of real estate, whether residential or commercial, and ensures compliance with Austrian legal requirements, including the ABGB, Land Register Act, and state-specific real estate transaction laws. This template is structured to include all mandatory elements required by Austrian law, such as proper party identification, detailed property description, purchase price arrangements, and transfer of ownership provisions. The document must be notarized to be legally valid and serves as the basis for land register registration. It can be customized for various types of real estate transactions while maintaining compliance with Austrian legal requirements and best practices.
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Key Requirements PROMPT example:
Form For Real Estate Purchase Agreement
"I need a Form For Real Estate Purchase Agreement for buying a residential apartment in Vienna, with completion scheduled for March 15, 2025, and including specific provisions for mortgage financing and a fixed inventory list."
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1. Parties: Identification of seller and purchaser with full legal names, addresses, and registration details if companies
2. Background: Context of the transaction and brief description of the property being sold
3. Definitions: Key terms used throughout the agreement, including Property, Completion Date, Purchase Price, etc.
4. Property Description: Detailed description of the property including land register details (Grundbuch), property address, and cadastral number
5. Purchase Price: Amount, payment terms, deposit requirements, and payment schedule
6. Transfer of Ownership: Terms and conditions for transferring title, including land register registration requirements
7. Representations and Warranties: Seller's declarations regarding property condition, encumbrances, and legal status
8. Handover and Transfer of Risk: Timing and conditions for physical handover of the property and transfer of risk
9. Costs and Taxes: Allocation of transaction costs, transfer tax, and registration fees
10. Completion Requirements: Steps required for completion, including notarization and registration procedures
11. Governing Law: Confirmation of Austrian law application and jurisdiction
1. Mortgage Release: Required if property has existing mortgages that need to be discharged
2. Third-Party Rights: Needed if there are tenants or other third-party rights affecting the property
3. Construction Requirements: For properties under construction or requiring specific works
4. Agricultural Land Provisions: Required for agricultural property subject to special regulations
5. Foreign Buyer Provisions: Required when purchaser is not an Austrian resident
6. Environmental Provisions: Required if environmental issues or contamination are present
7. Utilities and Connections: Details of utility transfers and connections if relevant
8. Broker Provisions: Required if real estate agents are involved in the transaction
1. Property Plan: Land register extract (Grundbuchauszug) and cadastral maps
2. Property Certificates: Energy certificate and other relevant property certificates
3. Inventory List: List of included fixtures, fittings, and furniture if applicable
4. Due Diligence Documents: Building permits, zoning certificates, and other relevant documentation
5. Payment Schedule: Detailed breakdown of payment terms and installments if applicable
6. Property Management Documents: Service contracts, maintenance agreements to be transferred
7. Power of Attorney: If required for completion of the transaction
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Agriculture (for agricultural land)
Hospitality (for hotel properties)
Retail (for commercial properties)
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Relevant Teams
Legal
Real Estate
Compliance
Finance
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Risk Management
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Real Estate Lawyer
Property Manager
Real Estate Agent
Legal Counsel
Notary
Property Developer
Investment Manager
Asset Manager
Real Estate Analyst
Compliance Officer
Transaction Manager
Real Estate Portfolio Manager
Property Acquisitions Manager
Real Estate Finance Manager
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