The sale of a property only becomes legally valid when it is signed by the notary – until then, it is important to get everything right legally. Private sellers in particular are unsure which contractual clauses are important and what happens at the notary appointment. Here, sellers can find out what they need to pay attention to in the purchase contract and at the notary appointment so that everything runs smoothly.
Check the draft purchase agreement: Important points for sellers
Before the final notary appointment, the buyer and seller receive a draft purchase agreement from the notary for review. Sellers should check this particularly carefully to avoid any nasty surprises on the day of completion. It is particularly important to ensure that the personal details and property description are complete and correct. Have any special features such as usufructuary rights, rights of way or existing tenancies been entered correctly?
If special agreements have been made with the buyer – for example regarding the transfer date or inventory – these should also be clearly regulated in the contract. It should also be clarified who will bear any costs incurred, for example for changes to the land register or the release of encumbrances. If anything is unclear, a notary or an experienced real estate expert should be consulted in good time in order to avoid disputes from the outset.
Role of the notary: procedure and costs at a glance
The notary ensures that both contracting parties are sufficiently informed and legally protected. At the notary appointment itself, the notary reads out the purchase contract in full and explains all relevant clauses in detail and clearly. The buyer and seller have another opportunity to ask any questions and discuss any changes. Only once all points have been fully clarified is the contract signed by both parties and notarized – only then does the sale become legally valid.
Notary fees include fees for drawing up the draft contract, notarizing the purchase contract and processing the land register entries. The fees are based on the value of the property, amount to around 1.5 percent of the purchase price and are usually borne by the buyer. In individual cases, however, individual agreements can be made, so it is advisable to clarify this at an early stage.
Security when selling: important clauses for sellers
The purchase contract contains a number of clauses that are intended to provide legal certainty, particularly for the seller. In addition to the exact description of the property and the purchase price, sellers should pay attention to a clause limiting liability for defects, especially in the case of used properties. Private sellers often expressly exclude the so-called liability for material defects, which means that subsequent claims by the buyer due to hidden defects can usually be averted – provided that the seller does not fraudulently conceal any serious defects of which he is aware.
Another important clause concerns the payment modalities and their security. For example, it is often agreed that payment of the purchase price should only be made after a so-called priority notice of conveyance in the land register, which protects the buyer from interim sales or encumbrances. Sellers should also stipulate the specific date on which the keys are to be handed over and the conditions that apply – such as prior full payment of the purchase price.
Are you unsure about selling your property and want to be sure that everything fits legally? We accompany your real estate sale from the beginning, through the notary appointment, to the handover of the property and beyond. Contact us – so you can sell legally sound and with a good feeling.
Notes
The generic masculine is used in this text to improve readability. Female and other gender identities are explicitly included where this is necessary for the statement.
Legal notice: This article does not constitute tax or legal advice in individual cases. Please consult a lawyer and/or tax advisor to clarify the facts of your specific individual case.
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