The Real Estate Purchase and Sale Agreement is a fundamental document used in Austrian property transactions to formalize the transfer of real estate ownership between parties. It is essential for any real estate transaction in Austria, whether residential or commercial, and must comply with strict formal requirements including notarization and registration in the land registry (Grundbuch). The document covers crucial aspects such as property description, purchase price, payment terms, warranties, and specific Austrian legal requirements. It's particularly important as real estate transactions in Austria involve significant formal requirements and specific tax implications. The agreement serves as the basis for the notarial deed and subsequent land registry registration, making it a critical document in the property transfer process.
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1. Parties: Identification of the seller and purchaser with full legal names, addresses, and registration numbers if applicable
2. Background: Context of the transaction and brief description of the property being sold
3. Definitions: Key terms used throughout the agreement
4. Property Description: Detailed description of the property including land registry details (Grundbuch), property address, and cadastral number
5. Purchase Price: Specified purchase price, payment terms, and escrow arrangements
6. Payment Terms: Schedule of payments, including deposit and final payment details
7. Transfer of Ownership: Conditions and process for transferring title in the land registry (Grundbuch)
8. Representations and Warranties: Seller's warranties regarding property condition, encumbrances, and legal status
9. Due Diligence: Buyer's inspection rights and due diligence process
10. Taxes and Costs: Allocation of transfer taxes, registration fees, and other transaction costs
11. Handover: Process and timing for physical handover of the property
12. Notarization: Requirements for notarial deed and execution process
13. Governing Law: Confirmation of Austrian law as governing law and jurisdiction
14. Execution: Signature requirements and execution process
1. Existing Tenancies: Details of any existing tenants and treatment of lease agreements, used when property is not vacant
2. Mortgage and Encumbrances: Provisions for dealing with existing mortgages or other encumbrances, used when property is not unencumbered
3. Development Rights: Special provisions regarding building permits or development potential, used for undeveloped land or properties with development potential
4. Environmental Conditions: Specific provisions regarding environmental issues or contamination, used when environmental concerns exist
5. Utilities and Connections: Special provisions regarding utility connections or shared facilities, used when relevant to the specific property
6. Furniture and Fixtures: List of included or excluded items, used when sale includes movable property
7. Condition Precedents: Specific conditions that must be met before completion, used when there are special requirements
8. Agent Commissions: Details of real estate agent fees and responsibilities, used when agents are involved
1. Property Plans: Official cadastral plans and property boundaries
2. Land Registry Extract: Current extract from the land registry (Grundbuchauszug)
3. Property Photographs: Current photographs documenting the property's condition
4. Inventory List: Detailed list of included furniture and fixtures, if applicable
5. Building Permits: Copies of relevant building permits and certificates
6. Energy Certificate: Mandatory energy performance certificate (Energieausweis)
7. Maintenance Records: Documentation of recent maintenance and repairs
8. Property Tax Records: Recent property tax assessments and payments
Relevant legal definitions
Agreement
Property
Purchase Price
Completion Date
Completion
Deposit
Due Diligence Period
Effective Date
Encumbrances
Grundbuch
Grundbuchauszug
Handover Date
Land Registry
Notarial Deed
Permitted Use
Purchase Tax
Registration Fee
Seller's Warranties
Title Transfer
Transfer Date
Cadastral Number
Property Register
Business Day
Closing Documents
Consideration
Defects
Energy Certificate
Fixtures and Fittings
Kataster
Material Adverse Change
Movable Property
Notary
Parties
Payment Schedule
Signing Date
Title Documents
Transaction Costs
Utilities
Property
Purchase Price
Completion Date
Completion
Deposit
Due Diligence Period
Effective Date
Encumbrances
Grundbuch
Grundbuchauszug
Handover Date
Land Registry
Notarial Deed
Permitted Use
Purchase Tax
Registration Fee
Seller's Warranties
Title Transfer
Transfer Date
Cadastral Number
Property Register
Business Day
Closing Documents
Consideration
Defects
Energy Certificate
Fixtures and Fittings
Kataster
Material Adverse Change
Movable Property
Notary
Parties
Payment Schedule
Signing Date
Title Documents
Transaction Costs
Utilities
Clauses
Property Description
Purchase Price
Payment Terms
Title Transfer
Representations and Warranties
Due Diligence
Property Inspection
Deposit
Escrow
Land Registry
Notarization
Completion
Property Handover
Taxes and Costs
Risk Transfer
Insurance
Utilities and Services
Environmental Matters
Encumbrances
Existing Tenancies
Property Condition
Building Permits
Termination
Default
Force Majeure
Dispute Resolution
Governing Law
Notices
Assignment
Entire Agreement
Severability
Amendments
Costs
Confidentiality
Further Assurance
Survival
Purchase Price
Payment Terms
Title Transfer
Representations and Warranties
Due Diligence
Property Inspection
Deposit
Escrow
Land Registry
Notarization
Completion
Property Handover
Taxes and Costs
Risk Transfer
Insurance
Utilities and Services
Environmental Matters
Encumbrances
Existing Tenancies
Property Condition
Building Permits
Termination
Default
Force Majeure
Dispute Resolution
Governing Law
Notices
Assignment
Entire Agreement
Severability
Amendments
Costs
Confidentiality
Further Assurance
Survival
Relevant Industries
Real Estate
Banking & Finance
Legal Services
Construction & Development
Property Management
Hospitality
Retail
Industrial & Manufacturing
Agriculture
Healthcare
Education
Professional Services
Relevant Teams
Legal
Real Estate
Compliance
Finance
Investment
Property Management
Asset Management
Acquisitions
Development
Risk Management
Operations
Relevant Roles
Real Estate Lawyer
Property Manager
Real Estate Agent
Real Estate Developer
Investment Manager
Legal Counsel
Compliance Officer
Real Estate Portfolio Manager
Asset Manager
Property Acquisitions Manager
Real Estate Transaction Manager
Chief Legal Officer
Chief Financial Officer
Real Estate Investment Analyst
Property Development Director
Facility Manager
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