Building Purchase Contract

Building Purchase Contract Template for Germany

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Key Requirements PROMPT example:

"I need a Building Purchase Contract for a commercial office building in Munich, with specific provisions for existing tenants and a completion date of March 1, 2025; the building is listed as a historic monument, so relevant preservation clauses must be included."

Document background

The Building Purchase Contract is a fundamental legal document used in German real estate transactions for transferring building ownership. It must comply with strict formal requirements under German law, including mandatory notarization (Beurkundungspflicht) as per §311b of the German Civil Code (BGB). This contract is essential when purchasing any type of building, whether residential or commercial, and must include specific provisions about the property's description, purchase price, payment terms, warranties, and transfer mechanisms. The document needs to address various aspects including land registry requirements, real estate transfer tax, existing encumbrances, and energy efficiency certificates. It serves as the primary instrument for documenting the agreement between parties and ensuring legal certainty in property transactions under German jurisdiction.

Suggested Sections

1. Parties: Identification of the seller and purchaser with full legal names, addresses, and registration details if companies

2. Background: Context of the sale and brief description of the property and transaction

3. Definitions: Key terms used throughout the agreement

4. Property Description: Detailed description of the building and land, including cadastral details and land registry information

5. Purchase Price: Agreed purchase price, payment terms, and escrow arrangements

6. Payment Conditions: Detailed payment schedule, banking information, and any financing conditions

7. Transfer of Ownership: Conditions and process for transferring title, including land registry requirements

8. Possession and Risk: Date of handover, transfer of risk, and practical possession arrangements

9. Seller's Warranties: Warranties regarding property title, condition, and disclosed information

10. Property Condition: Current state of the property, known defects, and as-is provisions

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

12. Pre-emption Rights: Confirmation regarding any statutory or contractual pre-emption rights

13. Signing Requirements: Notarization requirements and execution formalities

Optional Sections

1. Existing Tenancies: Details of current tenants and lease arrangements, used when the property is sold with sitting tenants

2. Mortgage Release: Provisions for releasing existing mortgages, used when the property has existing financing

3. Construction Requirements: Specific provisions regarding outstanding construction or renovation work, used for properties under development or requiring renovation

4. Environmental Provisions: Specific provisions regarding environmental issues or contamination, used when environmental concerns exist

5. Energy Performance: Specific provisions regarding energy efficiency and certificates, used for buildings requiring energy performance documentation

6. Usage Restrictions: Details of any restrictions on property use, included when specific limitations exist

7. Monument Protection: Special provisions for historically protected buildings, used when the property is listed as a historic monument

Suggested Schedules

1. Property Plans: Floor plans, site plans, and cadastral maps

2. Land Registry Extract: Current extract from the land registry (Grundbuchauszug)

3. Property Inventory: List of included fixtures, fittings, and equipment

4. Defects List: Documented existing defects and condition issues

5. Energy Certificate: Current energy performance certificate (Energieausweis)

6. Building Permits: Copies of relevant building permits and certificates

7. Property Charges: List of ongoing public charges and property-related costs

8. Technical Due Diligence: Technical surveys and inspection reports

Authors

Alex Denne

Head of Growth (Open Source Law) @ ��Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate

Construction

Property Development

Commercial Property

Residential Property

Banking & Finance

Legal Services

Property Investment

Urban Development

Architecture & Design

Relevant Teams

Legal

Real Estate

Property Management

Facilities Management

Finance

Acquisitions

Asset Management

Investment

Operations

Risk Management

Compliance

Corporate Development

Relevant Roles

Real Estate Lawyer

Property Manager

Real Estate Agent

Investment Manager

Property Developer

Facilities Manager

Legal Counsel

Notary

Real Estate Investment Director

Property Acquisitions Manager

Construction Manager

Asset Manager

Commercial Director

Real Estate Portfolio Manager

Chief Legal Officer

Chief Financial Officer

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Authors

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