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The Residential Form Of Offer To Purchase is a crucial document in Austrian property transactions that initiates the formal process of purchasing residential real estate. It is used when a prospective buyer wishes to make a binding offer to purchase residential property in Austria, whether it be an apartment, house, or other residential unit. The document must comply with Austrian civil law (ABGB), consumer protection legislation, and real estate regulations, including specific requirements for property registration in the Grundbuch (land registry). It contains essential elements such as property details, purchase price, payment terms, conditions precedent, and various protective clauses required by Austrian law. This form serves as the foundation for the subsequent purchase agreement and is particularly important as it can become binding upon acceptance by the seller, subject to any conditions specified in the offer.

1. Parties: Identification of the prospective purchaser (offeror) and the property owner (offeree), including full legal names, addresses, and identification numbers as required by Austrian law

2. Background: Brief context of the transaction and confirmation that the property is available for sale

3. Definitions: Key terms used throughout the document, including property-specific terminology and legal terms under Austrian law

4. Property Description: Detailed description of the property including land registry details (Grundbuch), property address, cadastral number, and size

5. Purchase Price: The offered purchase price, payment terms, deposit requirements, and escrow arrangements

6. Payment Terms: Schedule of payments, including deposit, stage payments if applicable, and final payment requirements

7. Due Diligence Period: Timeframe and conditions for property inspection, document review, and technical assessments

8. Conditions Precedent: Conditions that must be satisfied before the purchase becomes binding, including financing and regulatory approvals

9. Seller's Warranties: Mandatory warranties regarding property title, encumbrances, and condition as required by Austrian law

10. Closing Conditions: Requirements for completion of the purchase, including registration in the land registry

11. Costs and Taxes: Allocation of transaction costs, transfer taxes, and registration fees

12. Notification and Communication: Process for formal communications between parties

13. Governing Law: Confirmation of Austrian law as governing law and jurisdiction

14. Execution: Signature requirements and offer validity period