The process of buying / selling real estate in Austria begins with the selection of suitable residence options.
Our highly-experienced agents of Luxury Immobilien GmbH will make a presentation with the best selection of real estate based on the personal criteria of the client and the Austrian market. All materials will be sent to the client's email address. Before viewing the presentation, the client must consent to the confidentiality of the data and confirm the obligation to pay the commission to the agent in case of the successful completion of a real estate transaction.At the same time, all preparatory stages, including preliminary consulting and negotiating with the seller, are completely free.
After the buyer determines the most preferred property options for him/herself, agents of Luxury Immobilien GmbH will organize a viewing of each property. If necessary, several views can be organized during one day.Our clients also have access to round-the-clock information support, as well as a VIP service, which comprises a transfer from anywhere in Austria in Mercedes-Benz S-class cars.
The document contains information about the property, the cost agreed between both parties, and a list of additional costs (Kostenaufstellung), including VAT, the Transfer Tax and the lawyer's and realtor's fees. The property is reserved for the client and withdrawn from sale after signing the Kaufanbot. The execution of this document must be carried out in the presence of a lawyer/notary.In case of acquisition of real estate objects on the primary market, the conclusion of the agreement is supervised by the developer's lawyer. You can involve your own lawyer when buying a secondary property.
Local legislation does not require the buyer to deposit funds at the time of signing the Purchase Intention, but the owner can request an advance of up to 10% of the total value of the property in case of cooperation with foreign person(s). It is issued in the form of a target deposit and stored in a bank account until the deal is completed.
Important! In Austria, both a written and an oral agreement with the intention of making a transaction has legal force.
During the next stage, a notary or a lawyer will prepare a contract in accordance with the terms agreed between the seller and the buyer. The purchase/sale agreement contains personal data of both parties of the agreement, a description of the property, the purchase price, as well as all related expenses.
The buyer is given 4 weeks to fully familiarize him/herself with the contract and sign it.
After signing the purchase/sale agreement, the lawyer opens a trust account to pay for the cost of the real estate. It is important that your personal account already has all the necessary amounts in advance, because the entire cost must be transferred within a single payment. A personal account can be opened in one of the banks in Austria or at least in an EU bank.
It is important to note that a very strict verification of the source of origin of funds coming into the account of customers is carried out in Austrian banks. It is recommended that you take care in advance of opening an account, and providing all the necessary documents to confirm the legality of funds (statement of receipt of dividends, real estate sale agreement, wages, etc.)
And all related expenses, including attorney's fees and real estate agency commission.
To do this, the notary enters all information about the completed transaction (Modus) into the state cadastre of real estate called the Land Register (Grundbuch). There is also a separate fee for this.