Question about the purchase agreement of the property

Hello, can someone tell me in German what the following means:

The buyer already now requests the deletion of the right in section III in case the seller grants the corresponding permission.

The seller already now grants priority with the reservation of retransfer according to

§ 7 I and the mortgage according to § 7 II for still to be registered land charge rights up to a total amount of 300,000.00 EUR plus up to 20% interest per year from the approval of the reserved right as well as a one-time ancillary payment of up to 10% of the land charge capital. The appeared parties approve and request the entry of a corresponding priority reservation in the land register.

300,000 € for what?

and

Notes from the notary

The appeared parties were informed by the notary:

..that the notary has inspected the land register. The register of building encumbrances was not inspected. The appeared parties release the notary from the obligation to inspect;

That means I should inspect the register beforehand?

1. For whatever reason, the seller can receive the retransfer of the property - seller city with building obligation for you? 2. For the point mentioned in 1, a (re)reservation of conveyance is entered and the land register is blocked. All entries ranked after this reservation would be deleted in the event of a reversal. This also includes your land charges. 3. So that your bank has security, your land charges must be registered in the rank before the reservation. Therefore, to simplify matters, a rank reservation is entered now. Otherwise, the seller would have to come to the notary again later. 4. €300,000 - You can secure a loan of max. €300,000 with this. Why exactly this amount, only the notary (or the seller) can tell you. It could also be €123,654.66 or €5 million. 5. It can make sense to check yourself if you have neighbors. Rather unnecessary if it is a new development area where the starting signal has just been given.

short note: you pay the notary and must also answer these questions accordingly

Hello, yes, community sells with construction obligation. It is a new development area. Yes, the notary will explain that. But I didn’t want to think too long at the appointment about whether to sign or not :-)

Hello, yes, the municipality sells with a building obligation. It is a new development area.

Yes, the notary explains that still. But at the appointment, I didn't want to think for long whether I should sign or not :)

You can also just ask that in advance... we did that too

Yes, the notary was annoyed, but we didn't care! He got paid well anyway