warchild
2021-11-24 19:40:24
- #1
Just a good half year later... today the first draft of the notary for the land purchase agreement arrived. The plot has apparently grown by almost 30m² :) I already like that the contract specifies a binding deadline for the development and construction of a construction road (30.6.22). Only after completion will a reduction of the purchase price be due (roughly 70% payable immediately, 20% after completion of the development/construction road, remaining 10% after final completion of the road). Clearly, if everything goes wrong, 70% is still lost. But better than no (written) regulation at all.
By the way: Since the development costs are expressly stated separately from the "purchase price" in the contract, do I actually only pay the real estate transfer tax on the purchase price?
As there was also a reference to a "creative" interpretation of the building boundaries etc., the contract states among other things, "The plot must be suitable for construction based on the aforementioned development plan" – does that help at all? Probably more of a placebo, because you can always build something on it, right?
The access road remains (for the time being) a private road, but the contract also contains a clause "The buyer is aware that the city of Verden is considering ... taking over the private road into municipal ownership and dedicating it as a public road. The buyers agree to this project..." – So anything can happen – nothing must...
Since we plan to buy the plot with equity: The contract repeatedly mentions the ordering of the land charge, etc. – We will probably have to inform the notary in advance about our plan so that these clauses can be removed, right?
Is there anything else that should be considered/clarified in advance?
By the way: Since the development costs are expressly stated separately from the "purchase price" in the contract, do I actually only pay the real estate transfer tax on the purchase price?
As there was also a reference to a "creative" interpretation of the building boundaries etc., the contract states among other things, "The plot must be suitable for construction based on the aforementioned development plan" – does that help at all? Probably more of a placebo, because you can always build something on it, right?
The access road remains (for the time being) a private road, but the contract also contains a clause "The buyer is aware that the city of Verden is considering ... taking over the private road into municipal ownership and dedicating it as a public road. The buyers agree to this project..." – So anything can happen – nothing must...
Since we plan to buy the plot with equity: The contract repeatedly mentions the ordering of the land charge, etc. – We will probably have to inform the notary in advance about our plan so that these clauses can be removed, right?
Is there anything else that should be considered/clarified in advance?