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The Property For Sale By Owner Contract is utilized in Germany when property owners wish to sell their real estate directly to buyers without intermediary real estate agents. This approach, while potentially cost-saving, requires careful attention to legal requirements and documentation. The contract must comply with strict German property law requirements, including mandatory notarization under the German Civil Code (BGB) and registration with the Land Registry Office (Grundbuchamt). It includes comprehensive details about the property, parties involved, purchase price, payment terms, property condition, warranties, and transfer procedures. This document is particularly relevant in the current German real estate market where direct sales are becoming increasingly common, especially in residential property transactions.

1. Parties: Identification of the seller and buyer with full legal names, addresses, and tax identification numbers

2. Background: Brief context of the sale, including property ownership history and intention to transfer

3. Definitions: Key terms used throughout the contract including Property, Purchase Price, Closing Date, etc.

4. Property Description: Detailed legal description of the property including land registry details, exact location, and size

5. Purchase Price: The agreed purchase price, payment terms, and payment schedule

6. Payment Terms: Details of how and when payments will be made, including escrow arrangements if applicable

7. Condition of Property: Current state of the property, known defects, and as-is conditions

8. Representations and Warranties: Seller's declarations regarding property ownership, encumbrances, and condition

9. Due Diligence: Buyer's right to inspect and verify property condition and documentation

10. Closing Requirements: Conditions that must be met before completion, including notarization requirements

11. Transfer of Ownership: Process and requirements for legal transfer in the land register

12. Costs and Taxes: Allocation of transaction costs, transfer taxes, and ongoing obligations

13. Governing Law: Confirmation of German law application and jurisdiction

14. Signatures: Space for parties' signatures and notary certification