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Home Sales Agreement Contract

Home Sales Agreement Contract Template for Austria

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Key Requirements PROMPT example:

Home Sales Agreement Contract

"I need a Home Sales Agreement Contract for the sale of my apartment in Vienna to a first-time buyer, with completion scheduled for March 2025, including specific provisions for the existing tenant's rights and the transfer of furniture."

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Document background
The Home Sales Agreement Contract is a fundamental legal document used in Austrian real estate transactions for the transfer of residential property ownership. It serves as the primary agreement between sellers and buyers, whether they are private individuals, developers, or companies. This contract must comply with the Austrian Civil Code (ABGB), the Land Register Act (GBG), and various other Austrian regulations governing real estate transactions. The document typically includes detailed property descriptions, purchase terms, warranties, and conditions for ownership transfer. It requires notarization for land register registration and often involves additional documentation such as energy certificates and land register extracts. This agreement is particularly important in Austria's highly regulated property market, where strict legal requirements and consumer protection measures must be observed.
Suggested Sections

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

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

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Description: Detailed description of the property including land register details (Grundbuch), property address, and cadastral number

5. Purchase Price: Specified purchase price, payment terms, and payment schedule

6. Payment Terms and Escrow: Details of how and when payments will be made, including escrow arrangements

7. Transfer of Ownership: Conditions and process for transferring property ownership, including land register registration requirements

8. Representations and Warranties: Seller's warranties about the property's condition, encumbrances, and legal status

9. Handover and Possession: Terms and conditions for physical handover of the property

10. Costs and Taxes: Allocation of transaction costs, transfer taxes, and registration fees

11. Default and Remedies: Consequences of breach and available remedies

12. Governing Law: Confirmation of Austrian law as governing law and jurisdiction

13. Signatures: Execution blocks for all parties and notary authentication if required

Optional Sections

1. Mortgage and Financing: Include when buyer is obtaining mortgage financing, specifying conditions and requirements

2. Property Management: Include for properties in managed complexes or with shared facilities

3. Tenant Rights: Include if the property is currently tenanted or has existing lease agreements

4. Construction Completion: Include for properties under construction or requiring completion works

5. Environmental Matters: Include if there are specific environmental considerations or requirements

6. Parking and Storage: Include if separate parking spaces or storage units are part of the sale

7. Agent Commission: Include if real estate agents are involved in the transaction

Suggested Schedules

1. Property Plan: Floor plans, site plans, and land register extracts

2. Inventory List: List of fixtures, fittings, and any furniture included in the sale

3. Condition Report: Detailed report on the property's current condition and any defects

4. Energy Certificate: Mandatory energy performance certificate (Energieausweis)

5. Land Register Extract: Current extract from the land register (Grundbuchauszug)

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

7. Property Operating Costs: Details of ongoing operating costs and maintenance charges

8. Service Contracts: List and copies of existing service contracts that will transfer

Authors

Alex Denne

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Property
Purchase Price
Completion Date
Grundbuch
Kaufvertrag
Closing Date
Deposit
Effective Date
Encumbrances
Fixtures and Fittings
Handover Date
Land Register Extract
Notarial Deed
Party/Parties
Seller
Buyer
Transfer of Ownership
Business Day
Completion
Due Diligence Period
Energieausweis
Purchase Deed
Title Documents
Operating Costs
Property Tax
Registration Fee
Transfer Tax
Warranty Claims
Easements
Common Areas
Building Regulations
Maintenance Charges
Signing Date
Settlement Date
Payment Schedule
Escrow Agent
Defects
Force Majeure
Insurance Coverage
Permitted Use
Clauses
Parties and Property Description
Purchase Price
Payment Terms
Property Transfer
Title and Ownership
Representations and Warranties
Property Condition
Due Diligence
Deposit
Escrow
Registration and Land Register
Taxes and Costs
Insurance
Default and Remedies
Force Majeure
Handover
Warranties
Encumbrances
Property Rights
Notarization
Completion
Termination
Property Access
Risk Transfer
Assignment
Notices
Entire Agreement
Severability
Amendments
Governing Law
Dispute Resolution
Survival
Time of Essence
Further Assurance
Maintenance Obligations
Environmental Compliance
Relevant Industries

Real Estate

Legal Services

Financial Services

Construction

Property Development

Insurance

Banking

Property Management

Public Administration

Professional Services

Relevant Teams

Legal

Real Estate

Compliance

Property Management

Sales

Documentation

Risk Management

Finance

Tax Advisory

Customer Relations

Property Development

Transaction Processing

Relevant Roles

Real Estate Agent

Property Lawyer

Notary Public

Property Developer

Legal Counsel

Real Estate Manager

Mortgage Advisor

Property Surveyor

Transaction Manager

Real Estate Administrator

Compliance Officer

Tax Consultant

Property Valuation Expert

Real Estate Investment Manager

Industries
ABGB (Allgemeines Bürgerliches Gesetzbuch): Austrian Civil Code - Contains fundamental provisions on contract law, property rights, and real estate transactions (particularly §§ 1053-1089 on purchase contracts and §§ 431-446 on property transfer)
GBG (Grundbuchsgesetz): Land Register Act - Regulates the registration of real estate ownership and related rights in the land register
BTVG (Bauträgervertragsgesetz): Developer Contract Act - Provides specific protection for buyers when purchasing property from developers or in pre-construction phase
KSchG (Konsumentenschutzgesetz): Consumer Protection Act - Applies when the seller is a business entity and the buyer is a consumer, providing additional consumer protection rights
ImmoESt (Immobilienertragsteuergesetz): Real Estate Transfer Tax Law - Regulates taxation aspects of real estate transactions
WEG (Wohnungseigentumsgesetz): Condominium Act - Applies if the property is part of a condominium complex, governing ownership and management of common areas
MaklerG (Maklergesetz): Real Estate Agent Act - Regulates the involvement and obligations of real estate agents in property transactions
NotiatsaktG (Notariatsaktsgesetz): Notarial Deed Act - Governs the formal requirements for certain real estate transactions that require notarial authentication
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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