House sale contract - what you should pay attention to

Who draws up the contract when selling a house?

In order for a house sale to be legally binding, the associated purchase contract must be notarised. For this reason, it is generally referred to as a notary contract. The notary who draws up the contract for the sale of a house acts as a neutral intermediary between the buyer and the seller, just like the estate agent in charge. This guarantees both parties that the contract is legally compliant and that both buyer and seller are bound by their rights and obligations. The following applies: A house sale is not legally possible without a notary.

When is the contract for the sale of a house needed?

The contract for the sale of a house is not only available to the buyer and seller at the time of signing. First, the notary will draw up a preliminary contract that will be sent to both parties in advance. In order to be able to draw up such a draft, the notary therefore needs information on the negotiated contractual modalities: This includes, for example, the purchase price, the transfer date or the payment period. In addition, the notary receives all documents of the property that are necessary for drawing up the contract of sale. The estate agent takes care of the timely handover of this data.

In order for the buyer and seller to be able to deal with the contents of the contract for the sale of the house in advance, the legislator provides for a period of two weeks before signing. If the contracting parties have not received a preliminary contract two weeks before signing, reasons for this must be stated in the minutes. This regulation is intended to counteract hasty real estate transactions and to protect inexperienced buyers as well as sellers. If the preliminary contract complies with the negotiated modalities, the contract can be signed at the notary's office.

Checklist: What does the contract of sale of a property contain?

A large part of the contract for the sale of a house usually consists of standardised formulations. These are supplemented by the negotiated agreements and the individual characteristics of the property. The following information is obligatory:

• Name and addressof course, the contract for the sale of a house contains the contact details of the contracting parties involved.

• Object of purchase: This section contains information on the property, such as the building area, rights of use or any encumbrances by mortgage. This information comes from the land register.

• Equipmentdoes the property have a conservatory? Or a swimming pool? Will any furniture be sold with the property? This and similar information can be found in this section of the contract of sale.

• Property conditionthe condition of the property is listed here. This is particularly important in order to record any defects in the contract.

• Warranty liability: In this section the seller warrants that he is not aware of any hidden or obvious defects in the property and accepts no liability for any defects discovered later.

• Apportionment of service chargesthis section of the contract of sale describes how the incidental costs of the sale of the house will be divided between the buyer and the seller. Incidental costs include, for example, the estate agent's commission, the notary's fees or the land registry costs.

• Financesthis part of the contract regulates financial aspects such as the purchase price, the payment date and the payment modalities.

• Handover date: This is where it is stated when the property will be handed over by the seller to the buyer. Usually the real estate agent is also present at this appointment.

Summary: The way to the contract when selling a house

Preparing the contract of sale:

• negotiating the selling price

• Agreement between buyer and seller on contract modalities

• Submitting documents to the notary

Conclusion of the contract of sale

• The notary reads out the contract of sale to both parties and explains its contents if necessary

• Signing of the contract by buyer and seller

After signing

• Preparation of the property transfer

• The notary arranges for the change of ownership in the land register and informs the tax office about the purchase

Do you have any further questions about the contract for the sale of a house? Our experienced estate agents will advise you competently and thus lead the sale of your property to success. We look forward to your contact request!