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Buying Process

Buying property in Austria is not like the lengthy, stressful and bureaucratic system that operates in the UK. Nothing could be further from the truth! In fact, with our help, this can be a very simple and remarkably easy process.

How does it work?

Property can be purchased in Austria by any EU citizen. Once you have found a property you would like to buy, you sign a legally binding document with your offer which is passed by the estate agent to the seller for consideration. We can do the negotiating on your behalf. Once a price has been agreed, the seller signs this contract and is committed to the deal; there is no gazumping! No valuation surveys are required as the banks and estate agents are liable for these.

If you need to arrange a mortgage, we can provide details of a reliable, independent financial adviser to find the best deal for you based on your requirements/preferences and arrange the whole process for you. Documents such as a pay-slip, proof of address etc. can be faxed or emailed.

Finally, the signing of the deeds requires a notary who does all the conveyancing plus any other legal work required for the mortgage. We work regularly with an efficient and well priced notary and can recommend these services should you want them. Usually, payment to the seller must be made within 14 days following the signing of the deeds.

How can we help?

We aim to make the process as smooth and as straightforward for our clients as possible. Indeed, our clients are always very surprised at how easy and stress-free it is! If you like, we will organise all appropriate meetings and take care of other administrative tasks and logistics as required. As our partners are local, this has its distinct advantages: not least that they know the system, the language and the people! They are present at each meeting (should you wish) to minimise any language or procedural concerns you may have.

In addition, once you have purchased your property, we can inform the relevant utility companies on your behalf. We frequently aid clients in other ways; such as from organising/managing alterations to property and recommending ways to rent their property, to finding a cleaner and even recommending a gardener!

How long does this whole process take from offer to entry?

Obviously this depends on our clients’ circumstances but frequently the whole process takes only 6 weeks from when the offer is made to being the registered owners. Many of our clients make only 2 short trips: one to view the property and the area etc. and another brief one to sign the contracts, mortgage agreement and open a bank account.

What are the costs?

The total cost of a property is likely to be between 10 - 11% greater than the purchase price, when all fees (including mortgage fees) are included. This comprises land purchase tax, land registery entry, estate agent's commission¹ and notary fees.

If you require a mortgage, you should allow up to approx. 5% to cover all bank and notary charges. Mortgages are currently cheaper in Austria than in the UK and are available in Euros or Swiss Francs.

It costs around an additional 500€ to have the contract translated into English.

¹ Estate agents' fees (3.6%) are set by law