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Owner Financed Sales Contract Template for Austria

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Key Requirements PROMPT example:

Owner Financed Sales Contract

"I need an Owner Financed Sales Contract for a residential property in Vienna, with a 30% down payment and the remaining balance to be paid over 15 years at 4% interest, including early repayment options and monthly payment schedules to commence March 2025."

Document background
The Owner Financed Sales Contract is utilized in situations where traditional bank financing is either not preferred or not available, allowing property owners to act as financiers in their own property sales. This arrangement is particularly relevant in the Austrian market, where it must comply with the ABGB (Austrian Civil Code) and various property regulations. The document comprehensively covers both the property sale and financing aspects, including purchase price, payment terms, security arrangements, and property transfer conditions. It's commonly used in both residential and commercial property transactions, requiring careful consideration of Austrian property law, consumer protection regulations, and financial services laws. The agreement must be properly structured to protect both parties' interests while ensuring enforceability under Austrian jurisdiction.
Suggested Sections

1. Parties: Identification of the seller (owner-financier) and buyer, including full legal names, addresses, and registration details if applicable

2. Background: Context of the transaction, including brief property description and parties' intention to enter into owner-financing arrangement

3. Definitions: Key terms used throughout the agreement, including Property, Purchase Price, Loan Amount, Interest Rate, etc.

4. Property Description: Detailed legal description of the property, including land register details and any included fixtures or exclusions

5. Purchase Price and Financing Terms: Total purchase price, down payment, loan amount, interest rate, payment schedule, and amortization details

6. Payment Terms: Specific details about payment methods, due dates, late payment consequences, and prepayment options

7. Security Arrangements: Details of property mortgage, liens, or other security interests to secure the financing

8. Transfer of Ownership: Conditions and process for transferring property title, including registration requirements

9. Representations and Warranties: Statements by both parties regarding their capacity, property condition, and other material facts

10. Rights and Obligations: Ongoing responsibilities of both parties during the financing period

11. Default and Remedies: Consequences of default, cure periods, and available remedies

12. Closing Conditions: Requirements to be met before closing, including documents and payments

13. Costs and Taxes: Allocation of transaction costs, taxes, and ongoing expenses

14. Governing Law: Confirmation of Austrian law governance and jurisdiction

15. Notices: Method and addresses for formal communications between parties

16. General Provisions: Standard legal provisions including severability, entire agreement, and amendments

Optional Sections

1. Insurance Requirements: Used when specific insurance coverage is required during the financing period

2. Property Management: Include when there are specific requirements for property maintenance during the financing period

3. Third-Party Rights: Required when other parties have existing rights affecting the property

4. Early Repayment Terms: Include when early repayment options or penalties are applicable

5. Co-signer Provisions: Used when a guarantor or co-signer is involved in the transaction

6. Property Use Restrictions: Include when specific limitations on property use are required

7. Escrow Arrangements: Used when an escrow account is required for taxes or insurance

Suggested Schedules

1. Property Details Schedule: Comprehensive property description, including plans and boundaries

2. Payment Schedule: Detailed amortization table showing payment breakdown

3. Property Condition Report: Documentation of property condition at time of sale

4. Title Documents: Copies of relevant land register extracts and title documents

5. Insurance Certificates: Copies of required insurance policies

6. Due Diligence Documents: Property inspection reports, permits, and certificates

7. Property Plans: Official floor plans and site maps

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions















































Clauses



































Relevant Industries

Real Estate

Financial Services

Legal Services

Construction

Property Development

Banking

Insurance

Professional Services

Residential Property

Commercial Property

Relevant Teams

Legal

Real Estate

Finance

Compliance

Risk Management

Property Management

Business Development

Investment

Asset Management

Transaction Management

Relevant Roles

Real Estate Manager

Property Developer

Legal Counsel

Contract Manager

Finance Director

Real Estate Agent

Property Manager

Compliance Officer

Risk Manager

Investment Manager

Asset Manager

Transaction Manager

Real Estate Attorney

Financial Controller

Business Development Manager

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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