What should a perfect sales contract look like?
With every purchase or sale of real estate, a perfect purchase contract is part of the proposal for deposit in the real estate cadastre. The competent authority of the cadastre administration will enter the submitted proposal into the real estate cadastre only if it contains a purchase contract with all the necessary details, which are determined by the law on the real estate cadastre. Of course, the purchase contract attached to the proposal must be free of errors in writing and calculations and without other obvious irregularities.
What must the contract contain? Participants of real estate rights, that is, at least the buyer and the seller. These must be marked with at least the first name, surname, and maiden name for natural persons, while the male participants shall be marked with maiden surname, too. We must not forget the date of birth, ID number and place of permanent residence. In the case of legal entities, we refer to the seller, or the buyer's business name, registered office of the legal entity and identification number, if the legal entity has one assigned to it. Other identification data may also be provided.
Furthermore, in order for the purchase contract to be suitable for registration of the transfer of real estate in the real estate cadastre, it shall contain the indication of the legal act, i.e. the fact that it is a sale, or the purchase of real estate, the place where such an act was performed and the time (date) of the execution of this act.
Of course, the property must be marked correctly, that is, the cadastral territory, parcel number of the plot, its type and size shall be determined. An integral part is also the inventory number of the building and the designation of the land on which this building stands, as well as, in the case of an apartment, the number of the apartment, the floor and the entrance where it is located. Such a contract must also include the size of co-ownership shares, if the property is co-owned by several persons, as well as other details. Failure to include them in the purchase contract usually results in the suspension of the procedure for adding them to the proposal, which unnecessarily extends the time for the effective transfer of the property.
We must not forget the fact that the seller's (sellers´) signature, must be authorized, which also applies to signatures with power of attorney if the seller is represented by a third party.
Once again, we just remind you that the purchase contract, which is supposed to be suitable for the purposes of the transfer of real estate, should not contain errors in writing and calculations.
As we can see, when preparing a purchase contract for real estate, we have to pay attention to a lot of data that shall not be omitted. Therefore, it is always better to have such a contract drawn up by experts who already have experience and knowledge in preparing the necessary documents.
So, if you have such a pleasant thing waiting for you that you have found a suitable property in which you want to spend your time, whether relaxing or working, feel free to contact us, we will be happy to prepare the perfect purchase contract for you.
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