Agreement For Resale Of Flat Generator for Germany

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Key Requirements PROMPT example:

Agreement For Resale Of Flat

"I need an Agreement for Resale of Flat for a two-bedroom apartment in Berlin, with completion planned for March 2025 and including standard payment terms with a 10% deposit."

Document background
The Agreement For Resale Of Flat is a crucial legal document used in German property transactions when transferring ownership of an existing flat or apartment from one party to another. This document is essential in the German real estate market, where strict legal requirements govern property transfers. It must comply with German civil law (BGB), condominium law (WEG), and property registration requirements. The agreement is used when an existing owner wishes to sell their flat to a new buyer, whether these are private individuals or corporate entities. It includes comprehensive details about the property, price, payment terms, warranties, and specific German legal requirements such as notarization and land registry procedures. This type of agreement is particularly important in Germany's urban areas where flat ownership is common and requires careful attention to building management and shared property regulations.
Suggested Sections

1. Parties: Identification of the seller and buyer with full legal names, addresses, and registration details if applicable

2. Background: Context of the sale, including current ownership status and brief property history

3. Definitions: Key terms used throughout the agreement

4. Property Description: Detailed description of the flat, including exact location, size, land register details, and included fixtures and fittings

5. Purchase Price: Agreed purchase price and payment terms, including deposit arrangements

6. Payment Terms: Detailed payment schedule, method of payment, and escrow arrangements if applicable

7. Transfer of Ownership: Process and conditions for transferring property ownership, including land registry requirements

8. Representations and Warranties: Seller's declarations regarding property condition, encumbrances, and other material facts

9. Handover Conditions: Terms for physical handover of the property, including timing and condition requirements

10. Costs and Taxes: Allocation of transaction costs, including notary fees, land registry costs, and transfer taxes

11. Notarization: Acknowledgment of notarization requirement and related procedures

12. Governing Law: Confirmation of German law application and jurisdiction

Optional Sections

1. Mortgage Arrangements: Details of existing mortgages and their discharge, used when property has existing encumbrances

2. Property Management: Arrangements regarding ongoing property management contracts, used for properties in managed buildings

3. Tenant Provisions: Details about existing tenancy agreements if the property is currently rented

4. Renovation Agreement: Specific arrangements for any agreed renovations before or after sale

5. Parking Rights: Details of parking space rights or transfers if applicable

6. Storage Units: Information about associated storage units if included in sale

7. Energy Certificate: Specific provisions regarding energy performance certificate if not readily available

8. Pre-emptive Rights: Handling of any existing pre-emptive rights, particularly relevant in apartment buildings

Suggested Schedules

1. Property Plan: Floor plan and location details of the flat

2. Land Register Extract: Current extract from the land register (Grundbuchauszug)

3. Inventory List: Detailed list of fixtures, fittings, and any furniture included in the sale

4. Building Management Agreement: Copy of current building management agreement and regulations

5. Energy Performance Certificate: Current energy performance certificate (Energieausweis)

6. Property Photographs: Documented condition of the property at time of agreement

7. Payment Schedule: Detailed breakdown of payment installments and timing

8. Declaration of Division: Copy of the declaration of division (Teilungserklärung) for the apartment building

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
Clauses
Relevant Industries

Real Estate

Property Development

Legal Services

Banking & Finance

Property Management

Construction

Urban Development

Real Estate Investment

Residential Property

Relevant Teams

Legal

Real Estate

Property Management

Sales

Compliance

Administrative

Finance

Investment

Operations

Customer Relations

Relevant Roles

Real Estate Lawyer

Property Manager

Real Estate Agent

Legal Counsel

Notary

Property Developer

Real Estate Investment Manager

Conveyancing Clerk

Real Estate Transaction Manager

Compliance Officer

Property Administrator

Sales Manager

Real Estate Portfolio Manager

Housing Director

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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