Purchasing Real Estate - Overview

Written by Richard Gürlich
of GÜRLICH & Co.



Purchase of real estate

The question of real estate purchases is presently enjoying great interest,  due to the desire of many people to live in their own dwelling and, for example, as a result of entrepreneurial activity. Additionally, relating to real estate contracts, there could be a few legal pitfalls that I will refer to. Due to the comprehensive nature of this subject it is necessary to split it up into several partial stages.

These stages can be categorised as follows: 
 
1. Reservation contract

2. What you need to know about real estate before concluding the contract

3. Future Purchase Contract

4. Purchase Contract
    - Purchase contract for a plot of land or a house
    - Purchase contract for a flat and non-residential unit

5. Application of a mortgage

6. Record into cadastre of real estates
    - Cadastre of real estates
    - Procedure in cadastre office
    - Record into cadastre of real estates

7. Contract of work for house construction
    - Contract for Work for house construction
    - Contract for Work for construction of house with flats and non-residential areas

8. Statement of the owner

9. Partnership of the owners

10. Purchase through the intermediary of a legal entity 
    - Legal entity as a contractual party
    - Purchase contracts about transfer of real estate property concluded by
the foreigners

11. Cooperatives  and membership of them
    - Cooperative
    - Membership of the cooperative