Create a bespoke document in minutes, or upload and review your own.
Get your first 2 documents free
Your data doesn't train Genie's AI
You keep IP ownership of your information
Sales and Purchase Agreement
I need a sales and purchase agreement for a transaction involving commercial real estate in Austria, with specific clauses for payment terms, property condition, and a contingency for financing approval. The agreement should also include a clause for dispute reֱ through arbitration and a timeline for closing the transaction within 90 days.
What is a Sales and Purchase Agreement?
A Sales and Purchase Agreement forms the legal backbone of any major buying or selling transaction in Austria. This binding contract spells out exactly what's being bought or sold, the agreed price, and when the ownership will change hands. Under Austrian Civil Code (ABGB), it must clearly describe the assets, payment terms, and any special conditions.
Austrian businesses rely on these agreements for everything from real estate deals to company acquisitions. The document protects both parties by addressing key details like warranties, representations, and what happens if something goes wrong. While verbal contracts can be valid in Austria, having a written Sales and Purchase Agreement makes enforcement much easier and reduces the risk of misunderstandings.
When should you use a Sales and Purchase Agreement?
Use a Sales and Purchase Agreement for any significant business transaction in Austria, especially when buying or selling valuable assets, real estate, or company shares. The agreement becomes essential once negotiations move beyond initial discussions and both parties need to lock in specific terms. Austrian law requires detailed documentation for property transfers exceeding €50,000.
This formal agreement proves particularly valuable during complex transactions involving multiple stakeholders, staged payments, or special conditions. For example, when acquiring business equipment with warranty terms, or purchasing commercial property with specific handover requirements. Using it early in the process helps prevent disputes and ensures compliance with Austrian commercial regulations.
What are the different types of Sales and Purchase Agreement?
- Contract For Selling A House By Owner: Tailored for private real estate sales without agents, includes specific Austrian property transfer requirements
- Contract For Selling A Car With Payments: Structured for installment-based vehicle sales, with payment schedules and ownership transfer conditions
- Contract To Sell Home: Comprehensive residential property agreement with standard Austrian housing regulations and disclosure requirements
- Contract For The Sale Of Used Car: Focused on used vehicle transfers, including technical inspection requirements and warranty limitations
Who should typically use a Sales and Purchase Agreement?
- Business Owners and Companies: Primary parties who buy or sell assets, using Sales and Purchase Agreements to protect their interests and document terms
- Legal Counsel: Draft and review agreements to ensure compliance with Austrian law, often specializing in commercial or real estate transactions
- Notaries: Required under Austrian law to authenticate major transactions, especially for real estate and company shares
- Banks and Financial Institutions: Often involved as lenders or stakeholders, particularly in large transactions requiring financing
- Real Estate Agents: Help prepare and facilitate property-related agreements, working alongside legal professionals
How do you write a Sales and Purchase Agreement?
- Basic Details: Gather complete information about all parties, including legal names, addresses, and business registration numbers
- Asset Documentation: Collect detailed descriptions, valuations, and proof of ownership for all items being transferred
- Payment Terms: Define the exact price, payment schedule, and any conditions or contingencies
- Specific Requirements: Check Austrian regulations for your transaction type - some need notarization or registration
- Due Diligence: Verify seller's ownership rights and any existing liens or encumbrances
- Draft Review: Our platform generates legally-sound agreements tailored to Austrian law, ensuring all mandatory elements are included
What should be included in a Sales and Purchase Agreement?
- Identification Section: Full legal names and addresses of all parties, including their business registration details under Austrian law
- Object Description: Clear, detailed description of what's being sold, including any relevant serial numbers or property details
- Price and Payment: Exact purchase price in EUR, payment schedule, and transfer method
- Transfer Terms: Specific timing and conditions for ownership transfer, aligned with ABGB requirements
- Warranties: Legal guarantees about the condition and ownership of the sale object
- Dispute Reֱ: Austrian jurisdiction clause and process for handling disagreements
- Signatures: Space for dated signatures, with notarization requirements noted where applicable
What's the difference between a Sales and Purchase Agreement and a Business Acquisition Agreement?
A Sales and Purchase Agreement differs significantly from a Business Acquisition Agreement in several key aspects under Austrian law. While both involve transferring ownership, they serve distinct purposes and require different approaches.
- Scope and Complexity: Sales and Purchase Agreements typically cover specific assets or property, while Business Acquisition Agreements encompass entire companies, including employees, contracts, and liabilities
- Due Diligence Requirements: Business Acquisition Agreements demand more extensive investigation into company finances, operations, and legal obligations
- Legal Formalities: Business acquisitions often require additional regulatory approvals and worker council consultations under Austrian law
- Post-Closing Obligations: Business Acquisition Agreements usually include detailed transition periods and ongoing commitments that aren't typical in standard sales agreements
- Risk Allocation: Business acquisitions involve more complex warranties and indemnities to address unknown liabilities and business continuity concerns
Download our whitepaper on the future of AI in Legal
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
Our bank-grade security infrastructure undergoes regular external audits
We are ISO27001 certified, so your data is secure
Organizational security
You retain IP ownership of your documents
You have full control over your data and who gets to see it
Innovation in privacy:
Genie partnered with the Computational Privacy Department at Imperial College London
Together, we ran a £1 million research project on privacy and anonymity in legal contracts
Want to know more?
Visit our for more details and real-time security updates.
Read our Privacy Policy.