The Home Sale Contract is a fundamental legal document used in Austrian real estate transactions to formalize the transfer of property ownership between a seller and buyer. This contract type is essential for any real estate transaction in Austria and must comply with strict legal requirements under the Austrian Civil Code (ABGB) and Land Register Act (Grundbuchsgesetz). It's typically used when selling residential properties, including houses, apartments, and condominiums. The document includes crucial information such as property details, purchase price, payment terms, warranties, and transfer conditions. It requires notarization and must be suitable for registration in the land register (Grundbuch). The contract addresses various aspects including tax implications, existing encumbrances, property condition, and handover procedures. It's particularly important that the document meets all formal requirements for legal validity in Austria and provides adequate protection for both parties' interests.
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1. Parties: Identification of the seller and buyer with full legal names, addresses, and any registration numbers for legal entities
2. Background: Context of the sale and brief description of the property being sold
3. Definitions: Definition of key terms used throughout the contract
4. Property Description: Detailed description of the property including land register details (Grundbuch), property address, and cadastral number (Einlagezahl)
5. Purchase Price: Specification of the purchase price, payment terms, and payment schedule
6. Transfer of Ownership: Terms regarding the transfer of title and registration in the land register
7. Handover and Transfer of Risk: Conditions and timing for the physical handover of the property and transfer of risk
8. Seller's Warranties: Warranties regarding property condition, encumbrances, and legal status
9. Due Diligence: Confirmation of property inspection and review of relevant documents
10. Costs and Taxes: Allocation of transaction costs, transfer taxes, and registration fees
11. Notices: Process for serving notices between parties
12. Governing Law: Confirmation of Austrian law as governing law and jurisdiction
13. Execution: Signature requirements and notarization provisions
1. Mortgage and Financing: Include when there's existing mortgage to be discharged or new financing arrangements
2. Real Estate Agent: Include when a real estate agent is involved, specifying commission arrangements
3. Furniture and Fixtures: Include when specific items of furniture or fixtures are included in the sale
4. Condition Precedents: Include when the sale is subject to specific conditions (e.g., financing approval, permits)
5. Tenant Provisions: Include when the property is sold with existing tenants
6. Agricultural Land Provisions: Include when the property includes agricultural land requiring special permissions
7. Foreign Buyer Provisions: Include when the buyer is not an Austrian resident
8. Construction Warranties: Include for new properties or recent renovations with ongoing warranties
1. Land Register Extract: Current extract from the land register (Grundbuchauszug)
2. Property Plans: Cadastral plans and building plans
3. Energy Performance Certificate: Legally required energy performance certificate (Energieausweis)
4. Inventory List: List of included furniture and fixtures (if applicable)
5. Property Photographs: Documented condition of the property at time of sale
6. Building Permits: Copies of relevant building permits and certificates
7. Property Tax Records: Recent property tax assessments and payments
8. Utility Contracts: Details of existing utility contracts and connections
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Legal Services
Banking & Finance
Construction
Property Management
Insurance
Consulting Services
Public Administration
Relevant Teams
Legal
Real Estate
Property Management
Compliance
Finance
Risk Management
Operations
Administrative Support
Sales
Customer Relations
Relevant Roles
Real Estate Agent
Property Lawyer
Notary
Property Developer
Real Estate Manager
Bank Manager
Mortgage Advisor
Property Surveyor
Tax Consultant
Legal Counsel
Compliance Officer
Property Administrator
Real Estate Broker
Transaction Manager
Property Valuation Expert
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