Real Estate Due Diligence in Austria
Real Estate Due Diligence in AustriaUpdated on Monday 26th December 2022
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The value of a property can depend on a number of factors and when deciding to invest in real estate, the buyer will need to know how the building presents itself. Real estate due diligence in Austria can be used in all building purchases and it can be done at an early stage in order for the buyer to be aware of the true value of the property.
Our team of lawyers in Austria can help you with information about the real estate law and the requirements for purchasing property in the country.
The due diligence for real estate purchases
An independent opinion from a specialist can be very important, especially if the building has certain characteristics that may be problematic. The buyer who chooses to thoroughly evaluate the building can have a solid ground for the future negotiation with the owner. Moreover, by being aware of the true condition of the building, the investor can plan his budget for further developments and construction plans.
Real estate due diligence can help uncover any legal issues that may exist concerning a property such as mortgages, existing agreements or issues concerning inheritance if the seller is not the sole beneficiary of the property.
Real estate due diligence checklist
The real estate due diligence checklist includes both general and specific information about the building. A sample checklist would include the following:
- a description of the property: size, year of construction and type;
- construction details;
- environmental issues like waste disposal;
- tax and financial issues: mortgages, bills, and taxes, special assessments, etc.;
- zoning and land use;
- tenants, subtenants, owner/s;
- previous agreements concluded for the property;
If you have additional questions about property purchase or selling in Austria please feel free to contact our experts. We are able to provide legal services in a wide range of areas and our lawyers in Austria are ready to answer your questions if you are a local or foreign investor in real estate.
We invite you to talk to our lawyers about immigration to Austria and the required formalities. For example, people coming from non-EU countries must first obtain an entry visa, then apply for a residence and work permit. As for the citizens of EU countries, the aspects related to relocation are much simplified, but they will also need a residence permit if they will live in this country for more than 3 months. We mention that you can contact our lawyers for complete details.
Contact us for more information about real estate due diligence in Austria and other related issues.