We are happy to advise and accompany you for a flat rate in each of these steps, from the agreement to the handover of the keys. This gives you cost security.
- Drafting sales contracts
- Examination of draft sales contracts
- Creation and review of purchase offers
- All-round feel-good package for handling everything from the offer to handing over the keys
- Enforce your rights in the event of complications
“We ensure that, if an agreement is reached, you have the greatest possible security even before the purchase contract is drawn up. Very few prospective buyers know that there are already some traps lurking here. “
Example : There are (with a few exceptions) no special formal requirements for property purchase agreements. In other words, such a contract can also be concluded orally. We make sure for you that you do not inadvertently conclude a purchase contract without having defined the necessary conditions for you.
From practice: Mr. A as the seller and Ms. B as the buyer negotiate the amount of the purchase price for a particular house.
Mr A writes by SMS “The price was actually EUR 540,000.00 advertised, but I could go down to EUR 520,000.00.”
Ms. B replies: “EUR 520,000.00 is perfectly fine for me. That fits, I’m happy! ”
- Ms. B thought that this is just an informal agreement that she can get out of if necessary, as she still has to talk to her bank about a loan.
- However, since there is an agreement on the goods and prices, there is a risk that a purchase contract has already been concluded here, which can also be sued.
If desired, we will also prepare a written offer for you in which the key points that are essential for you are recorded. The advantage here is that there is clarity and that both buyers and sellers know for sure what they are up to.
See also our article: Buying a house & apartment purchase: How do I conclude a property purchase agreement?
Examples of essential points that must be observed:
- When does the purchase price have to be available?
- What security does the bank require in the land register?
- Trusteeship: To protect the buyer and seller, the purchase price is deposited in an escrow account, from which it is only transferred when certain conditions are met, which are mutually agreed upon in the purchase contract. This means that the seller knows that the purchase price will be available when the purchase object is handed over and the buyer can be sure that the handover will actually take place before the money is paid to the seller.
- Warranty: Who is liable if it emerges afterwards that, for example, there was (hidden) water damage in the basement or the roof is leaking?
- When do any taxes and fees such as real estate income tax (Immo-ESt), real estate transfer tax (GrESt) and the registration fee have to be received by the trustee?
- When do the buyers take on the risk for the house?
Where is the sales contract signed?
- If the purchase contract is to be signed in Vienna, we will be happy to provide our office near the Hofburg.
- However, since we look after sales contracts throughout Austria, we already have an extensive network of notarial offices with which we cooperate so that the signing can go as smoothly as possible for you.
Example: The seller’s side consists of Mr A, B and C from Vienna, who jointly inherited a house in Dornbirn. They sell this house to the couple D, who live on Lake Millstatt in Carinthia.
Gentlemen A, B and C sign the purchase contract in our office, whereby a Viennese notary who cooperates with us certifies the signatures. The purchase contract is sent by post to Millstatt, where it is then signed jointly with a local notary. We will then arrange for the land registry to be processed in Dornbirn.
After the purchase has been made, the new owners will be incorporated into the land register. Various applications must be submitted for this purpose, all of which are prepared, processed and carried out by our law firm. In particular, old burdens such as mortgages are deleted and new ones incorporated, such as the loan to buy the property. We are also happy to offer various additional services to increase security, such as noting a ranking or similar.