Finally you have found the property that you would like to acquire. Now every buyer or tenant would like to move in as quickly as possible or start renovation work. Before this, however, there is one more hurdle, the sales contract. In Austria the sales contract for a property can be concluded informally, e.g. even as a verbal contract. However, to protect the contracting parties it should be set out in writing and attested by a notary, in order to certify the authenticity of the signatures.
In addition, the principles of registration in the Land Register must be observed. In Austria it is not the sales contract which is decisive for a transfer of ownership of a property but the entry in the Land Register. For that reason the sale of a property only takes legal effect when the sale has been recorded with the court. Only when the entry in the Land Register is changed is the sale actually concluded.