Documents required for buying an Austrian property

Elizabeth Bagwell,  Saturday, 25 January 2014

 

This article is part of a series of 8 articles about buying property in Austria. The other articles in the series cover the following topics:


Buying a property in Austria takes several steps, and each one requires you to present your credentials to a new group of people. This article provides an overview of the documents required for each of the key steps in the property purchase process, including:

  • Agreement to buy the property
  • Arranging a mortgage
  • Transfer of the property
  • Registration and taxes
  • Selling a property
If you are an international buyer (EU or non-EU) or a resident in Austria but not a citizen, you can expect to have to prove your identity and your residency status at every stage. Expect to bring your passport and your visa (if applicable) to every meeting, and it's a good idea to have photocopies of all documents.

Agreement to buy the property

A price is usually agreed through the estate agent acting for the seller. This is then agreed in writing. The contract should be signed in the presence of a notary or lawyer. At this point, a deposit will usually be required. This is typically 10%. You should therefore expect to bring to the meeting (or have provided beforehand):

  • Identification
  • Evidence of financing or ability to pay (e.g. a mortgage in principle)
  • Deposit documentation
Arranging a mortgage

When arranging a mortgage, you can expect to provide detailed information about your financial circumstances and the property in question. This must be backed up with appropriate documentation. At a minimum, expect to provide the following personal documents for each buyer:

  • Identification
  • Visa (if applicable)
  • Proof of income / salary
  • Tax return
  • Document indicating you do not have criminal convictions or have defaulted on debts
You will also have to provide details of the property, including:

  • Extract from the Austrian land registry
  • Property description, such as floor plan and photo
  • Insurance certificate
  • Negotiated price (if applicable)
  • Plans and planning permission for any extensions or renovations
  • Extract from land registry
Other details about the property may also be required. These will normally be obtained from the seller or the seller's agent. You may also have to provide access or information to allow the mortgage provider to conduct a valuation survey of the property.

Transfer of the property

The contract of sale transfers ownership of the property and should be drawn up by a lawyer or notary. It must be signed in the presence of a notary or a court official. At this stage, everything should have already been discussed and arranged so there should be no surprises or sudden requests for information on either side. You should expect to provide:

  • Identification
  • Documentation regarding the transfer of funds
If you require a mortgage, you will have to have arranged it ahead of time. The mortgage company may transfer the funds to you, to transfer to the seller or may do so directly. If you use a notary, they may act as an escrow.

Registration and taxes Each property must be registered at the land registry office. The responsibility for carrying this out is held by the new owner, i.e. the buyer. Property transfer taxes must also be paid, and this is also the duty of the buyer. In both cases, the government agency involved will be looking for documentation regarding:

  • Buyer's ID
  • Seller's ID
  • Sale contract (including sale price)
  • Mortgage agreement (NB: this must also be registered separately)
In some cases, the notary will undertake to register the property for you, for a fee. Either a notary or an estate agent should be able to talk you through the process.

Selling a property

When selling a property it's important to have the documentation relating to the property to hand. This includes not only the documentation required to complete the transaction, such as the title, but also the documentation required by the new owner. Typically, you should expect to hand over at least the following:

  • Information regarding utilities
  • A warranty for any work done (e.g. renovations)
  • Insurance certificate (insurance is legally required in Austria)
  • Fire and gas safety information, where applicable
The estate agent may request information early on, such as energy efficiency or renovation information. At this stage, copies of the documents should suffice but you should expect to hand over the originals to the buyer when you make the final sale arrangements. The official witnessing the signing will also demand proof that you own the property free and clear. This typically means:

  • Your contract of sale
  • Your mortgage agreement (if any)
  • Your property tax certificates
 


Typical Austrian house
On our Dutch website Affidata.com you will find all types of property for sale in Austria by private sellers and estate agents. Find a property in the Austrian Alps, Tyrol, Innsbruck or Vienna. 

Hiking in Austria Understanding the Austrian property tax system is essential if you want to create a profitable investment in the country. Taxes in Austria are moderate but as they're due at each stage of the property cycle, it's important to fully understand the system before buying a property. Read on to find out more. 
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