The Buy Sell Agreement For A House (Immobilienkaufvertrag) is a crucial legal document used in German property transactions to formalize the transfer of residential real estate ownership. This document is mandatory for all house purchases in Germany and must be executed before a notary public to be legally valid. It contains comprehensive details about the property, parties involved, purchase price, payment terms, and transfer conditions. The agreement ensures compliance with German property law, particularly the B眉rgerliches Gesetzbuch (BGB) and land registry requirements. It protects both buyers' and sellers' interests by clearly stating all terms, conditions, warranties, and obligations. The document is typically prepared by a notary who ensures all legal requirements are met and coordinates with the land registry office (Grundbuchamt) for the property transfer process.
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1. Parties: Identification of the seller(s) and buyer(s) with full legal names, addresses, and marital status as required under German law
2. Background: Context of the sale and brief description of the property transaction
3. Definitions: Key terms used throughout the agreement, including property-specific terminology
4. Property Description: Detailed description of the property including land registry details (Grundbuch), plot number, size, and address
5. Purchase Price: The agreed purchase price, payment terms, and escrow arrangements
6. Payment Terms: Detailed structure of payments, including deposits and final payment conditions
7. Property Condition and Warranties: Current condition of the property, seller's warranties, and any known defects
8. Transfer of Ownership: Conditions and process for transferring property title (Auflassung)
9. Possession and Risk: Date of property handover and transfer of risk
10. Costs and Taxes: Allocation of transaction costs, including notary fees, transfer taxes, and registration fees
11. Encumbrances: Existing mortgages, easements, and process for clearing the land register
12. Representations and Warranties: Statements and guarantees made by both parties
13. Completion Requirements: Steps required to complete the transaction
14. Governing Law: Confirmation of German law application and jurisdiction
15. Execution: Signature requirements and notarization provisions
1. Mortgage Arrangements: Include when buyer requires mortgage financing, detailing conditions and coordination with lender
2. Tenant Provisions: Include when property is currently tenanted, addressing existing lease agreements
3. Furniture and Fixtures: Include when sale includes specific furniture or fixtures
4. Construction Requirements: Include when property is under construction or requires specific renovations
5. Property Management: Include for properties in managed complexes or with shared facilities
6. Environmental Provisions: Include when there are specific environmental considerations or requirements
7. Development Rights: Include when there are future development possibilities or restrictions
8. Right of First Refusal: Include when there are existing rights of first refusal or when new ones are being created
1. Land Register Extract: Current extract from the Grundbuch showing ownership and encumbrances
2. Property Floor Plans: Official floor plans and property measurements
3. Energy Certificate: Mandatory energy performance certificate (Energieausweis)
4. Inventory List: Detailed list of any included furniture, fixtures, and fittings
5. Building Permits: Copies of relevant building permits and certificates
6. Property Photos: Documented condition of the property at time of sale
7. Land Survey: Recent land survey documents and property boundaries
8. Building Inspection Report: Technical assessment of property condition
9. Property Tax Records: Recent property tax assessments and payments
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Legal Services
Banking & Finance
Construction
Property Development
Insurance
Public Administration
Professional Services
Relevant Teams
Legal
Real Estate
Compliance
Property Management
Investment
Finance
Risk Management
Operations
Documentation
Business Development
Relevant Roles
Real Estate Lawyer
Notary
Real Estate Agent
Property Manager
Mortgage Advisor
Real Estate Developer
Property Surveyor
Legal Counsel
Compliance Officer
Real Estate Investment Manager
Property Valuation Specialist
Transaction Manager
Real Estate Portfolio Manager
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