Houses For Sale Contract For Deed Template for Germany

The Houses For Sale Contract For Deed (Kaufvertrag mit Ratenzahlung) is utilized in German real estate transactions where the purchase price is paid in installments rather than as a single lump sum. This document is particularly relevant when buyers require an alternative to traditional mortgage financing or when sellers prefer to finance the sale directly. It must comply with German property law requirements, including mandatory notarization and registration in the Grundbuch (land register). The contract includes detailed provisions for property description, payment terms, title retention, risk transfer, and both parties' rights and obligations. It's essential to note that this type of agreement in Germany requires careful structuring to ensure compliance with consumer protection laws, property transfer regulations, and tax requirements. The document serves as both a sale agreement and a financing instrument, providing security for the seller while allowing the buyer to take possession of the property before completing all payments.

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

2. Background (Vorbemerkung): Context of the transaction and brief description of the property being sold

3. Definitions (Definitionen): Key terms used throughout the agreement

4. Property Description (Grundstücksbeschreibung): Detailed legal description of the property including land register details (Grundbuch)

5. Purchase Price and Payment Terms (Kaufpreis und Zahlungsbedingungen): Total purchase price, installment payment structure, interest rates, and payment schedule

6. Transfer of Possession (Besitzübergang): Terms and timing of property possession transfer

7. Title Retention (Eigentumsvorbehalt): Conditions for final transfer of legal title upon completion of payments

8. Seller's Warranties (Garantien des Verkäufers): Warranties regarding property condition, encumbrances, and title

9. Buyer's Obligations (Pflichten des Käufers): Maintenance, insurance, and other obligations during the payment period

10. Default and Remedies (Verzug und Rechtsmittel): Consequences of payment default and available remedies

11. Insurance and Risk (Versicherung und Gefahrübergang): Requirements for property insurance and transfer of risk

12. Taxes and Costs (Steuern und Kosten): Allocation of property taxes, transfer taxes, and transaction costs

13. Registration Rights (Grundbucheintragungen): Terms for land register entries including priority notice (Vormerkung)

14. Notarization (Beurkundung): Acknowledgment of notarization requirement and execution details