Profession: real estate agent – some knew it when they were still in elementary school, and others do not know it yet, when they have already graduated from school and are about to enter the professional life. Choosing a career turns out to be an extremely difficult task for many. This is also no wonder, […]
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Altlastenauskunft – The Altlastenauskunft refers to the buildability of a property in connection with the soil changes due to old deposits. If the soil statics need to be adjusted or the fill material removed, this can be very costly. In order to avoid this, it is advisable to obtain a contaminated site report from the […]
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Decrease in age value – Decrease in age value refers to the total useful life of a property in connection with the market value. More on Lukinski. If the remaining life of a property is shortened, a reduction in age value is taken into account. Factors to be considered are, for example, construction defects or […]
Read more › Compulsory administration – If, at the request of a creditor, the local court orders compulsory administration of a property, the creditor is given access to the income from this property. The difference to a forced sale is that the creditor is not satisfied by the substance of the property, but by the current income from […]
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Action for annulment – By means of an action for annulment, a condominium owner may challenge a resolution of the condominium owners’ meeting and have it declared invalid by the court. More on back to overview. The special feature of this action is that it directly changes the legal situation due to the elimination of […]
Read more › Add-on wall – The add-on wall is attached to the neighbour’s wall. Due to the extension to the neighbour’s wall, the neighbour’s consent is required. By crossing the border to the neighbouring property, the neighbour is allowed to use the wall for his own constructional measures and entitles him to build his own extension. More […]
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Landlord certificate, landlord confirmation – If you move into an apartment or a house, the so-called landlord certificate is always an important issue that should be considered to avoid unnecessary costs. How profitable is renting? See our rental yield calculator. It was introduced due to a large number of so-called bogus adresses, which were often […]
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The rent including utilities is the total rent that a tenant pays monthly to the landlord — consisting of the cold rent (pure compensation for the use of the living space) plus the warm operating costs for heating and hot water. It is therefore the amount that actually comes off the account, but not the […]
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The fraudulent misrepresentation in real estate purchase is one of the few levers that a buyer can use to reclaim, reduce the purchase price, or rescind the contract — even after notarization and handover — even if the contract contains a complete exclusion of warranty. That is exactly why it is the buyer’s sharpest weapon […]
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Drywall – Drywall is the term used to describe the parts inside a building that are not made of concrete or stone, nor are they part of the load-bearing elements of the building. See our property glossary. Thus, drywall construction is a method of construction in which the walls or floors are built or covered […]
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Foreclosure Submission for Purchase Price – Every real estate purchase agreement contains a submission clause. This clause states that the seller of a property can immediately foreclose and seek payment of the purchase price from the buyer if the buyer fails to pay the purchase price on time. The purpose is so that the seller […]
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Fiduciary account (notary) – The special thing about a fiduciary account is that the holder of the account is not the owner of the assets in it. What to expect: purchase expenses. The holder is usually a notary or lawyer who manages the owner’s assets. A trust account is regularly required in particular for the […]
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