¶¶Òõ¶ÌÊÓƵ

The Purchase Agreement For House For Sale By Owner is a crucial legal document used in German real estate transactions where property owners choose to sell their property directly without real estate agent intermediation. This type of agreement is governed by German property law and requires mandatory notarization to be legally valid. It serves as the foundation for transferring property ownership, addressing all essential aspects including property details, price, payment terms, warranties, and obligations of both parties. The document must comply with the German Civil Code (BGB), land registry regulations, and relevant property transfer laws. It's particularly important as it protects both parties' interests while ensuring all legal requirements for property transfer in Germany are met, including provisions for land registry registration and property transfer tax considerations.

1. Parties (Vertragsparteien): Identification and full details of the seller and purchaser, including names, addresses, and marital status (relevant for German property law)

2. Background (Vorbemerkung): Brief context of the sale and confirmation that the seller is the registered owner of the property

3. Definitions (Definitionen): Key terms used throughout the agreement

4. Object of Purchase (Kaufgegenstand): Detailed description of the property including land registry details, address, and size

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

6. Condition of Property (Zustand des Objekts): Current state of the property, known defects, and seller's warranties

7. Encumbrances (Belastungen): Existing mortgages, easements, and other encumbrances on the property

8. Transfer of Ownership (Eigentumsübergang): Conditions and process for transferring legal ownership

9. Possession, Benefits and Burdens (Besitz, Nutzen und Lasten): Handover arrangements and transfer of associated rights and obligations

10. Seller's Warranties (Garantien des Verkäufers): Specific guarantees provided by the seller regarding the property

11. Costs and Taxes (Kosten und Steuern): Allocation of transaction costs, including transfer tax and notary fees

12. Notices (Mitteilungen): Communication procedures between parties

13. Governing Law (Geltendes Recht): Confirmation of German law application and jurisdiction