Immo-Tips

OUR IMMO-TIPPS ARE PUBLISHED REGULARLY IN OUR WEEKLY NEWSPAPER BASICS

 

Mag. Bernhard Grossruck

M+43 664 20 19 128
F+43 512 582 535
Ebernhard.grossruck@arealita.at

THEREFORE, CHECK BEFORE YOU LEAP

At first glance an estate or a property looks just like a plot or a building. But taking a closer look you can see that numerous legal, technical and economic factors play a role, whose examination is of essential importance for sale and acquisition.

What is partly a statutory duty for the relief from liability in the entrepreneurial area, for the seller as well as the buyer, and therefore for company and property sales part of the day-to-day business, should also be more adopted in any type of real-estate transactions. Because it has to do with the biggest assets that you purchase or sell - apart from the company purchases. The field of real-estate transactions should therefore, to avoid wrong decisions and bigger damage, not be left to amateurs or to one's own subjective experience. I am referring to the provided and appropriate care, the relevant legal regulations according to the Austrian general civil law and the Corporate Code. Consequently, a buyer who is acting according to the duty of care of a prudent businessman, has to examine an object of purchase at least in the main features: Has a buyer been given the opportunity for an examination, but didn't seize it, the buyer has to accept possible unfavourable consequences, even if he could have recognized the fault with the necessary care. Due Diligence - known as the requisite care - this term has already moved into our economic life. One differentiates the examination regarding legal, technical and economical aspects. A seller of real-estate properties knows his or her property - so you might think: why still examine it?

Nevertheless, it's advisable for the seller of real-estate properties to examine the transaction. Because the seller doesn't know his or her object from the buyer's perspective. To bring about a quick and optimal sales closure one has to empathize with the part of his or her negotiating partner and to recognize advantages and risks that could attract the buyer's attention.

Therefore, this is my Immotip for you: Even if you are not an entrepreneur but a real-estate buyer or a real-estate seller, you should turn to a company of property trustees with a team consisting of people out of the fields of law, technology and economy, who will accompany you in the interdisciplinary material of real-estate transactions and will safe you from unpleasant surprises.