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Buy Sell Agreement (Real Estate) for Austria

Buy Sell Agreement (Real Estate) Template for Austria

A legally binding agreement governed by Austrian law that facilitates the transfer of real estate property from a seller to a buyer. This document complies with the Austrian Civil Code (ABGB) and related real estate legislation, including the Land Register Act (GBG) and Real Estate Transfer Tax Act (GrEStG). It details the terms and conditions of the property sale, including purchase price, payment terms, property description, warranties, and conditions for transfer of ownership. The agreement typically requires notarization and must meet specific formal requirements under Austrian law for registration in the land register (Grundbuch).

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What is a Buy Sell Agreement (Real Estate)?

The Buy Sell Agreement (Real Estate) is a fundamental legal document used in Austrian property transactions to formalize the transfer of real estate ownership. This document is essential whenever real property is being sold in Austria, whether for residential, commercial, or industrial purposes. It must comply with strict requirements under Austrian law, particularly the ABGB (Austrian Civil Code) and related real estate legislation. The agreement includes comprehensive details about the property, parties involved, purchase price, payment terms, warranties, and conditions for ownership transfer. It requires notarization and subsequent registration in the Austrian land register (Grundbuch) to effect the legal transfer of ownership. This document type is particularly important as it forms the basis for the property transaction and provides legal security for both parties while ensuring compliance with Austrian property transfer regulations.

What sections should be included in a Buy Sell Agreement (Real Estate)?

1. Parties: Identification and details of the seller and purchaser, including full legal names, addresses, and registration numbers for legal entities

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

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

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

5. Purchase Price: Specification of the purchase price, payment terms, and payment schedule

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

7. Transfer of Ownership: Provisions regarding the transfer of title and registration in the land register

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

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

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

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

12. Signing Requirements: Formal requirements for signing, including notarization provisions

What sections are optional to include in a Buy Sell Agreement (Real Estate)?

1. Existing Tenancies: Required if the property has existing tenants, detailing their rights and the handling of rental agreements

2. Mortgage and Encumbrances: Required if there are existing mortgages or other encumbrances that need to be addressed

3. Construction Requirements: Required if the property is under construction or requires specific building works

4. Environmental Provisions: Required if there are environmental issues or considerations

5. Condominium Provisions: Required if the property is part of a condominium complex

6. Agent Provisions: Required if real estate agents are involved in the transaction

7. Financing Conditions: Required if the purchase is subject to financing conditions

8. Due Diligence: Required if specific due diligence provisions need to be included

9. Energy Certificate: Required if specific provisions regarding the energy performance certificate need to be included

What schedules should be included in a Buy Sell Agreement (Real Estate)?

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

2. Title Documents: Current land register extract (Grundbuchauszug) and ownership history

3. Inventory List: List of fixtures, fittings, and other items included in the sale

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

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

6. Property Photographs: Documentary photographs of the property's condition

7. Payment Schedule: Detailed breakdown of payment installments if applicable

8. Existing Contracts: Copies of relevant existing contracts (e.g., maintenance, service agreements)

9. Land Use Documents: Zoning certificates and land use restrictions

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

Jurisdiction

Austria

Publisher

Ƶ

Document Type

Purchase Agreement

Cost

Free to use
Relevant legal definitions








































Clauses




































Relevant Industries

Real Estate

Property Development

Construction

Banking and Finance

Legal Services

Insurance

Property Management

Urban Development

Hospitality

Retail

Commercial Property

Residential Property

Relevant Teams

Legal

Real Estate

Compliance

Finance

Property Management

Asset Management

Investment

Operations

Risk Management

Due Diligence

Corporate Development

Acquisitions

Relevant Roles

Real Estate Lawyer

Property Developer

Real Estate Agent

Legal Counsel

Corporate Lawyer

Property Manager

Asset Manager

Investment Manager

Real Estate Analyst

Compliance Officer

Due Diligence Specialist

Transaction Manager

Property Surveyor

Chief Legal Officer

Real Estate Portfolio Manager

Acquisitions Manager

Development Director

Real Estate Investment Officer

Industries










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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