Notary contracts

Initiation of a contract

Phase 1: Initial negotiations and inspection of the property

The purchase or sale of a property is always something special. A lot is at stake. Therefore, special caution is required. Disputes can arise in the case of second-hand real estate: often Deficiencies only determined after the contract has been concluded. It is therefore advisable to have the transaction checked before signing the notarial contract. 

Phase 2: Buying decision

If the parties agree on the purchase price after a close inspection of the property, the buyer will often commission a notary who will present the first draft of a notary contract. From now on, the second phase of "looking closely" begins, during which we can assist you:

  • We will be happy to handle the communication with the parties involved (buyer/seller/real estate agent/house management etc)
  • We are happy to take over the correspondence/coordination with the notary's office.

Phase 3: Legal advice

You are probably wondering why you should need legal advice when there is a notary? While a notary always has to be neutral and has to consider the interests of both parties, we as Jasper Lawyers your one-sided representation of interests. We check your real estate purchase contract for disadvantageous clauses that are not immediately recognisable at first glance:

  • We advise you in such a way that the best possible result is achieved both economically and in terms of time.
  • We represent your unilateral interests and can help you to draft and amend the purchase contract so that it is more than satisfactory for you.
  • A detailed legal examination of the purchase contract and the associated documents, in particular the declaration of partition and/or tenancy agreements in the case of rented properties, is carried out.
  • We coordinate the necessary/appropriate contract amendments with the notary's office and the other party on your behalf.
  • We can make notary appointments for you
  • After conclusion of the contract, we communicate with the notary's office/seller as part of the settlement process, in particular when handing over the property (change of encumbrance/benefit).
  • We check the transfer of ownership.
  • We check (if desired) your financing documents as well as coordination with banks and accompany you in all financing questions.
  • We advise you in the course of the entire real estate acquisition process, if required also in English.
  • Real estate professionals always get appropriate advice, be a real estate professional too!
Weshalb Sie Ihren Notarvertrag VOR Unterzeichnung prüfen lassen sollten!

Procedure of a notary appointment

At the agreed date, both parties (or their representatives) meet at the notary's offices

The notary checks the identity documents of those present. 

The notary reads out the (purchase contract) deed. He explains legal terms. Those present can ask questions and request changes/additions, which the notary inserts (also handwritten) if all parties agree. However, the notary always remains neutral and may not advise either party unilaterally.

The parties and the notary sign the deed. The notary closes the notarisation. 

Processing

Once the notary contract has been signed, the notary will settle the contract. When the purchase price is due, the buyer will be requested to pay by the notary. The notary applies for the transfer of ownership in the land register. With this transfer, the buyer becomes the owner. 

But not all settlements of notarial property purchase contracts run so smoothly: 

Dispute (settlement), reversal, rescission

If the buyer does not pay the purchase price despite being requested to do so by the notary, the seller must consider whether to withdraw from the contract. In this case, the purchase contract must be rescinded. If the buyer objects because he has now discovered defects in the object of purchase, a dispute arises. But how should this dispute be settled? If an amicable settlement cannot be reached (and here the notary is not called upon to bring about this amicable solution, but here the parties must find a solution, if necessary with lawyers), litigation may ensue. 

Lawsuits and claim for damages

Lawsuits are - especially when a lot is at stake, as in the case of property purchase contracts - expensive, protracted and stressful for both parties. This is especially true when the parties are blaming each other and Claims for damages seldom. Arbitration courts are rarely called upon; most cases go to the ordinary courts (Regional Court, Higher Regional Court, Federal Supreme Court). Such proceedings can take a long time. Both parties are unable to move forward. 

It is therefore important to map possible scenarios in the notary contract and to find clear regulations for such disputes. This requires expert advice before such a scenario occurs. 

Likewise, it makes sense to prepare yourself in advance, both as a buyer and as a seller. 

Here you can download a checklist for the notary contract for free:

You can find more interesting articles on the topic of real estate and construction law on our blog:

https://jasper-law.com/en/blog

FAQ

What exactly does a notary contract check involve?

We check the notarial contract for content, comprehensibility and practicability. 
We show you pitfalls, risks and 
disadvantageous clauses and help you to 
optimally design the from your point of view. 

Why should you have a real estate purchase contract professionally reviewed at all? 

Real estate purchase agreements are complex entities. The risks are 
often not apparent at first glance. A professional 
examination usually prevents unclear regulations and 
expensive legal disputes between the contracting parties.
setzungen zwischen den Vertragsparteien. Die professionelle
Examination of a real estate purchase contract regularly grants
smooth running of the process. Real estate professionals go
have been doing so for years. Therefore, we strongly recommend this procedure. 

What is the function of a notary and what is the function of a lawyer? 

The notary must consider the interests of both parties and point out possible problems. However, the notary is not obliged to present the individual risks of the individual contracting parties and to offer solutions for them.
This task is taken over by a lawyer. He is a unilateral representative of interests and only advocates for you 

Which clauses are particularly important in notary contracts? 

 In addition to the exact definition of the object of purchase, questions of warranty, withdrawal from the contract and compensation for damages. In particular, it is necessary to clarify how the parties can come apart again if one party does not adhere to what has been contractually agreed. And to avoid lengthy disputes in court, clear clauses in the contract are of great importance. 

What mistakes are often made in real estate purchase contracts? 

For laypersons, real estate purchase contracts are often written in "technical jargon". geschrieben.
Many buyers and sellers have not really understood, 
what rights and obligations they have. This ambiguity 
leads to major disputes and possible litigation. In many 
cases, the parties do not even agree on what to do. 
happens if errors occur during the processing of the contract. 

Who then has what rights and what obligations to fulfil? 
All this can be regulated within the framework of a good notary contract (and 
and specifically from the point of view of the party we represent). 
 

If I have a notarial contract checked, what costs 
will I incure? 

The fee for the review of such a notarial agreement 
kann sich nach dem Gegenstandswert richten. Da diese 
Gegenstandswerte bei Immobilienkäufen in der Regel recht hoch 
sind, bieten wir eine Abrechnung auf Stundenbasis an. Das ist fair 
für den Mandanten und auch für den Rechtsanwalt. 

If you have any questions about this, we will be happy to make you an offer.

 

About us

Our firm

We now have over 25 years of experience in real estateand building law. Efficiency, entrepreneurial thinking and the economic success of our clients are our top priorities.

If you would like to learn more about us and our subject areas, please visit our main page:

https://jasper-law.com/en

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