The Real Estate Agreement of Purchase and Sale is a fundamental document in Austrian property transactions, essential for any transfer of real estate ownership. This agreement is used when transferring residential, commercial, or industrial properties in Austria, requiring strict adherence to local legal requirements including mandatory notarization and land register registration. The document encompasses crucial elements such as property description, purchase price, payment terms, warranties, and specific Austrian legal compliance requirements. It must be drafted in accordance with the Austrian Civil Code (ABGB) and related property laws, incorporating provisions for real estate transfer tax and registration fees. The agreement serves as the primary legal instrument for documenting the terms and conditions of the property sale, protecting both buyer and seller interests while ensuring compliance with Austrian property transfer regulations.
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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 property description
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed legal description of the property including land register details (Grundbuch) and property address
5. Purchase Price: Specified purchase price, payment terms, and delivery method
6. Payment Terms: Detailed breakdown of payment schedule, deposit requirements, and escrow arrangements
7. Transfer of Ownership: Conditions and process for transferring title, including land register registration requirements
8. Representations and Warranties: Seller's declarations regarding property condition, encumbrances, and legal status
9. Handover Conditions: Terms for physical handover of the property and transfer of possession
10. Costs and Taxes: Allocation of transaction costs, transfer taxes, and registration fees
11. Notarization: Requirements for notarial authentication and associated responsibilities
12. Governing Law: Confirmation of Austrian law application and jurisdiction
13. Execution: Signature requirements and date of agreement
1. Mortgage Release: Required if property has existing mortgages that need to be discharged
2. Tenant Provisions: Include if property is currently leased to tenants
3. Construction Requirements: Needed if property includes incomplete construction or required renovations
4. Environmental Provisions: Include if property has known environmental issues or requires environmental assessments
5. Parking Rights: Required if separate parking rights or garage spaces are included
6. Right of Withdrawal: Required for consumer transactions under consumer protection law
7. Utilities and Connections: Include if specific arrangements needed for utility transfers or connections
8. Property Management: Required if property is part of a managed complex with shared facilities
1. Property Plan: Official cadastral plan and property boundaries
2. Land Register Extract: Current land register extract (Grundbuchauszug) showing ownership and encumbrances
3. Inventory List: List of fixtures, fittings, and items included in the sale
4. Building Permits: Copies of relevant building permits and certificates
5. Energy Certificate: Mandatory energy performance certificate (Energieausweis)
6. Property Photos: Documented condition of property at time of agreement
7. Payment Schedule: Detailed breakdown of payment installments and due dates
8. Service Contracts: List of ongoing service contracts affecting the property
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