Document background
The Seller Financing Contract is utilized when traditional bank financing is either not preferred or not available for a property purchase in Austria. This agreement type is particularly relevant in situations where sellers are willing to accept periodic payments instead of a lump sum, offering buyers an alternative financing path. The document must comply with Austrian legal requirements, including the ABGB, GBG, and financial regulations, and typically requires notarization. A Seller Financing Contract includes detailed terms about the purchase price, payment schedule, interest rates, security arrangements, and property transfer conditions. It's especially useful in real estate transactions where flexibility in financing terms is desired, or when buyers face challenges accessing traditional mortgage financing.
