Purchasing a newly built property or buying “off-plan” involves significantly different legal considerations compared to purchasing a pre-owned home. In many cases, you are not buying a finished building, but a promise based on architectural plans or a structure still under construction. Consequently, developer-prepared contracts are often highly detailed and heavily weighted in favor of the developer.
Our Law Office provides comprehensive legal support to ensure that your interests are protected and that the contract includes all necessary guarantees.
How New Build Transactions Differ
When dealing with new developments, residential parks, or condominiums, the legal structure is generally more complex. Key areas we focus on include:
- Developer Contract Review: General contractors and developers use standardized contract templates. We examine these thoroughly, focusing on payment schedules, technical specifications, and delivery milestones.
- Delay Penalties: What happens if the completion is delayed? The contract must clearly define the developer’s obligation to pay liquidated damages (penalties) for late delivery.
- Technical Handover and Acceptance: This is a critical legal step where it is determined whether the property meets the agreed-upon quality and technical standards.
- Deed of Foundation and House Rules: For new condominiums, it is essential to review how common areas are defined and how future maintenance costs will be distributed.
Legal Security from Blueprint to Key Handover
We advise clients to involve a lawyer before signing any letter of intent or registration agreement. A poorly drafted preliminary contract can impose obligations that are difficult to correct later in the process.
Our services include:
- Drafting or reviewing preliminary and final sales and purchase agreements.
- Verifying the land registry status and the Condominium Deed of Foundation.
- Legal advice on property-related conditions for bank financing (e.g., green loans or family subsidies).
- Full representation in the Land Registry procedures.
Buying a new-build property is both a major investment and an emotional milestone. Our goal is to make the legal process transparent and secure for you.
If you have any questions or would like a quote, please contact us by phone, email, or use the form below.
Dr. Hercsik Alexandra Ügyvédi Iroda
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Frequently Asked Questions – New Build Property
New Build Property FAQ
What guarantees apply to new-build properties?
In the case of new-build apartments, the buyer is entitled to a mandatory warranty (guarantee), the rules of which are fixed by government decree.
Duration of the Warranty
The warranty period, starting from the handover-acceptance, is tiered:
- 3 years: for defects that do not prevent the basic intended use of the building.
- 5 years: for more significant building structural elements (e.g., roof, insulation, windows/doors).
- 10 years: for load-bearing structural elements (e.g., foundation, walls).
It is important that any defect must be reported immediately to the contractor in writing upon discovery.
Our Related Service:
Buying New-Build Property
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