Real estate purchase – The obligations of the vendor
1. Obligations of the Seller
2. Contract Conformance Sale
3. Deviations from the contractual area measurements
4. Power and power supply
First of all, the seller is obligated to communicate all existing information requirements with regard to the condition of the property. For example, the acquirer of a condominium is to be informed about the social linkage of an apartment when the buyer acquires the property for renting.
Furthermore, the purchaser of a property is entitled to be informed about any legal disputes, existing leases and travel rights, etc.
If the seller does not comply with his obligations, he assumes the risk of being held accountable and the consequences. In the event of a loss or a withdrawal from the contract, consideration may also be given.
2.Contract Configurator Sale
The main duties of the vendor are the provision of the property (§ 854 BGB), ie, the ownership by the handing over of keys, as well as the transfer of property (§ 433 BGB).
If the seller does not fulfill these main obligations, the buyer can usually withdraw from the contract. Contrary to the contractual components of a building contract, the lack of a transfer of the sold property is not one of the main contractual obligations of the seller. However, in the event of defects, the purchaser may be entitled to a legal warranty claim to reduce the purchase price or to reverse the contract if the sold property is not of the contractually agreed nature which is usually expected.
In practice, however, real estate purchase contracts usually contain extensive liability exclusions, so that the buyer can not assert legal claims due to deficiencies in the property. Thus, when selling a used property, claims for deficiencies can, for example, be completely excluded, unlike the purchase of a newly created property through a building contract income. However, the seller can not exclude his liability without limit.
The limits for such exemptions are where the seller knowingly conceals known defects of the property.
If the purchaser is aware of a defect which the seller has knowingly concealed, he may, despite a contractual exclusion, show warranty claims against the seller.
The consequences of the infringement include:
– rectification of the defect,
– compensation for the loss or damage sustained thereby
– require the return of the purchase contract.
3.Movements from contractual land use
In the case of significant deviations in the size of a plot of land, the buyer can claim a consensual contract adjustment by means of the reckoning of the sale price on the basis of the real land size, in accordance with the principles of the abolition of the business foundation (§ 331 BGB).
This usually leads to a subsequent reduction of the purchase price.
If the seller is unable to reasonably reduce the purchase price due to a significant deviation of the land area, the seller can withdraw from the concluded purchase contract (§ 313 Paragraph 3 BGB).
In order to counteract legal uncertainties with respect to the space requirements for property purchase contracts, it is therefore advisable to have an exact area calculation of the property or property in question in advance of the contract conclusion.
If, for example, a flat rate is agreed upon for the sale of a dwelling-house or a condominium, and only an estimation of the living space is made without waiving an exact calculation of the area, it is advisable to include a specific regulation on the handling of area deviations within the scope of the notarial purchase contract. For example, it may be agreed that, in the determination of significant area deviations of more than 10%, a reduction of the purchase price by the amount of X € per square meter of living space is to be made within the scope of a residential area survey on the basis of the residential area ordinance.
4.Energy and power supply
Special liability issues and obligations of the seller arise in the case of the purchase of used real estate with regard to the legal requirements with regard to energy and power supply.