Is notarization required for the sale-purchase contract template?
Yes, whenever real estate ownership rights are transferred, the contract facilitating the transfer must be notarized by a public notary. Without this formality, the sale-purchase contract is rendered null and void.
What documents are required to draft a real estate sale-purchase contract in Romania?
To validly sign a real estate sale-purchase contract, you need: the seller’s ownership title, an updated land registry excerpt, the property’s tax certificate, the energy performance certificate, copies of both parties' IDs, and any relevant civil status documents (marriage, divorce, inheritance) if they affect property ownership. Use the contract template to establish all transaction details, then have it notarized!
Who is responsible for the notary authentication costs of the contract?
Typically, the buyer covers the notary fees for contract authentication, but the parties may agree in the contract template to allocate costs differently, or even for the seller to bear all costs.
What are the seller’s obligations regarding taxes and fees on the property before signing the contract?
Generally, the seller must pay all taxes and fees on the property up to the date of ownership transfer and obtain a tax certificate confirming these payments. A professionally written sale-purchase contract template includes the seller’s guarantees for debt clearance on the property to prevent potential disputes.
Is an energy certificate required when signing a real estate sale-purchase contract?
Yes, an energy performance certificate is mandatory when signing the real estate sale-purchase contract. It provides information about the property's energy consumption and must be presented at the notary for contract authentication.
What role does the land book excerpt play in the sale process?
The land book excerpt provides updated information on the legal status of the property, such as the owner's identity, any mortgages, or other encumbrances. It is necessary to assure the buyer that the property is free of encumbrances before signing the sale-purchase contract. Since presenting the land registry excerpt is mandatory, the buyer cannot later claim ignorance of the property's legal status.
Can penalties be applied for delayed fulfillment of obligations in a sale-purchase contract?
Yes, the parties may agree on penalties for delayed payment by the buyer or delayed handover of the property by the seller, specifying the conditions and penalty amounts.
Do I need to sign a preliminary contract before the sale-purchase contract?
Signing a preliminary contract is not mandatory before the sale-purchase contract. A preliminary contract is typically used when not all conditions for signing the sale contract are met (e.g., the property is not completed, or the developer has not obtained all necessary authorizations).
What happens if the property has encumbrances before signing the sale-purchase contract?
If the property under the sale-purchase contract has encumbrances, they must either be cleared before the transaction is completed or assumed by the buyer (in which case a reduced contract price may be agreed upon).
Under what conditions can a sale-purchase contract be terminated after signing?
The sale-purchase contract may be terminated in cases of non-performance by one of the parties (e.g., discovery of hidden defects), although a court ruling is usually required.
