Real estate purchase contract — what to watch for

Buying real estate is one of the most important decisions — and one of the most legally sensitive transactions. A few checks before signing can save you serious trouble.

Check ownership and encumbrances

First of all, check the property sheet in the cadastre: who the actual owner is and whether there are any registered encumbrances — mortgages, easements or notes of dispute.

Clearly define the subject and price

The contract must precisely describe the property, the price, the payment and handover deadlines. Vague provisions are the most common source of later disputes.

Notarization and tax obligations

A real estate transfer contract is certified before a notary. Pay attention to tax obligations and deadlines to avoid liability for a violation.

Recommendation: engage a lawyer before signing, not after a problem arises. Reviewing the contract in advance is far cheaper than a later dispute.