Pre Sales Agreement Deutsch

When it comes to purchasing a property or real estate in Germany, a pre-sales agreement, or “Vorvertrag” in German, is a crucial document that should be taken seriously. A pre-sales agreement, as the name suggests, is a contract between the buyer and the seller that outlines the key terms and conditions of the eventual sale.

This agreement serves as a binding agreement between both parties until the final purchase agreement is signed. It establishes the basic parameters of the transaction, including the purchase price, payment schedule, and terms and conditions of the sale.

Here are a few things to consider when drafting or reviewing a pre-sales agreement:

1. Payment terms: The payment terms should be clearly outlined in the pre-sales agreement. This includes the total purchase price, down payment, and the payment schedule. Review these terms closely to ensure they align with your budget and financial capabilities.

2. Escrow: It is common practice in Germany to use an escrow account to hold the funds until the final purchase agreement is signed. Determine who will manage the escrow account and ensure that the pre-sales agreement reflects these terms.

3. Contingencies: It`s important to include contingencies in the pre-sales agreement that allow for the transaction to be cancelled under certain circumstances. Examples of contingencies could include the buyer`s inability to obtain financing or the discovery of issues with the property.

4. Timeframes: The pre-sales agreement should clearly outline the date by which the final purchase agreement must be signed and the transaction must be completed.

5. Legal assistance: It`s always a good idea to work with a lawyer when drafting or reviewing a pre-sales agreement. A lawyer can provide valuable guidance and ensure that the document is legally sound.

In conclusion, a pre-sales agreement is an essential document when purchasing real estate in Germany. It establishes the basic terms and conditions of the transaction and serves as a binding agreement until the final purchase agreement is signed. Careful review and attention to detail when drafting or reviewing this document can help ensure a smooth and successful real estate transaction.