Check purchase contract

Published on: June 13, 2021Categories: LegalTags: , Reading time: 3 min.
Check purchase contract
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Christina Schröder writes about legal topics for the Love & Law blog at Recht 24/7.

Why have a purchase contract checked before the notary appointment?

There are many mistakes you can make when buying a property! This also and especially applies to the legal part. The purchase contract plays a very important role, regardless of whether it is a contract for a condominium, a developed or undeveloped plot of land or a detached house or apartment building.nullIt is therefore important to have the purchase contract comprehensively checked by a lawyer before signing it!

Checking important points

An examination of the purchase agreement usually includes the following important points:

  • Warranty
  • Correct deletion of all encumbrances on the property
  • Registration of a priority notice
  • Securing the payment
  • Financing for the new property
  • Securing the evacuation
  • Checking the declaration of division

Sample templates and checklists

There are no "model purchase contracts" in this sense, as notaries draw up the purchase contracts individually and tailor them to the property to be purchased. Therefore, each purchase agreement is individual and often contains special features that are specifically formulated for your property. A sample purchase contract is therefore not advisable and makes little sense, as the notary usually draws up the contract. However, this real estate purchase agreement should then be carefully checked.nullWe know what to look out for in a purchase agreement and will point out critical clauses and wording to you. We therefore refrain from providing you with checklists, as many points on a checklist would not apply to your purchase agreement and others are very important.

Do not take any risks

In practice, many mistakes are often made that can lead to serious disadvantages.nullTo illustrate this with an example: the buyer should always agree that full payment is only due when the apartment has actually been vacated! In addition, it can be agreed that the seller submits to foreclosure with regard to this obligation to vacate. This is the only way to ensure that you can actually move in when you buy a property after you have paid the purchase price.nullThese and other typical mistakes can be avoided if the purchase agreement has been reviewed by a lawyer. This review of the purchase agreement ensures that no legal pitfalls are overlooked.

Contract review at a fixed price

Recht 24/7 checks your draft purchase agreement with the relevant documents such as declaration of division, deed of purchase, land register excerpt legally by a lawyer. On the same day, reliably and at a fair fixed price.nullYou will receive your purchase contract with comments back. On the basis of these comments, we will point out critical formulations that are disadvantageous to you and suggest better formulations in your favor.

How do I proceed?

If you decide to have your draft purchase agreement reviewed, upload the purchase agreement together with the contract components using our inquiry form. Optionally, you can tell us important points that are particularly important to you.nullA specialized lawyer will take care of your contract and you will receive the results back within 24 hours.

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