The Pre-Sale Agreement is a crucial document in Austrian real estate development, used when selling properties that are yet to be constructed or are under construction. It provides a legal framework that protects both developers and buyers under Austrian law, particularly through the Real Estate Development Contract Act (BTVG) and Consumer Protection Act (KSchG). This agreement is essential for securing off-plan sales and typically includes detailed specifications of the property, construction timelines, payment schedules, and warranty provisions. The document must address specific Austrian legal requirements such as notarization, land register regulations, and escrow arrangements for buyer payments. It serves as the primary contract governing the relationship between the developer and buyer until the property's completion and final transfer of ownership.
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1. Parties: Identification and details of the seller/developer and buyer, including full legal names, addresses, and registration details if applicable
2. Background: Context of the transaction, including property development status and purpose of the agreement
3. Definitions: Definitions of key terms used throughout the agreement, including technical and legal terminology
4. Property Description: Detailed description of the property including location, size, cadastral number, and development specifications
5. Purchase Price: Specification of the purchase price, payment schedule, and deposit requirements in accordance with BTVG
6. Payment Terms: Detailed payment structure, including installment plans, escrow arrangements, and security provisions
7. Completion Timeline: Expected completion dates, construction milestones, and delivery conditions
8. Developer's Obligations: Responsibilities of the developer including construction standards, warranties, and compliance requirements
9. Buyer's Obligations: Responsibilities of the buyer including payment obligations and cooperation requirements
10. Transfer of Ownership: Conditions and process for the transfer of property ownership
11. Warranties and Representations: Statutory and additional warranties provided by the developer
12. Termination Rights: Circumstances under which either party may terminate the agreement and consequences
13. Governing Law and Jurisdiction: Confirmation of Austrian law application and jurisdiction for disputes
1. Mortgage Arrangements: Include when buyer requires mortgage financing, detailing conditions and coordination with lenders
2. Modifications and Customizations: Include when buyer has rights to request property modifications during construction
3. Property Management: Include for developments with shared facilities or requiring ongoing management services
4. Assignment Rights: Include when either party may need to transfer their rights under the agreement
5. Force Majeure: Include detailed force majeure provisions for long-term development projects
6. Defect Resolution Process: Include detailed procedures for identifying and resolving construction defects
7. Environmental Compliance: Include for properties requiring specific environmental certifications or compliance
1. Property Plans and Specifications: Detailed architectural plans, floor plans, and technical specifications
2. Payment Schedule: Detailed breakdown of payment installments and triggering milestones
3. Construction Timeline: Detailed construction schedule with milestones and completion dates
4. Property Certificates: Land register excerpts, building permits, and other relevant certificates
5. Finishing Specifications: Detailed description of materials, fittings, and finishes
6. Building Rules and Regulations: For developments with multiple units, rules governing common areas and facilities
7. Warranty Terms: Detailed warranty terms and conditions including statutory warranties
Relevant legal definitions
Clauses
Relevant Industries
Real Estate Development
Construction
Residential Property
Commercial Property
Banking & Finance
Legal Services
Property Management
Urban Development
Relevant Teams
Legal
Real Estate Development
Sales
Finance
Compliance
Project Management
Construction Management
Customer Relations
Property Management
Contract Administration
Relevant Roles
Real Estate Developer
Property Sales Manager
Legal Counsel
Development Director
Construction Manager
Finance Director
Compliance Officer
Project Manager
Sales Director
Contract Manager
Real Estate Agent
Property Lawyer
Development Executive
Customer Relations Manager
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