Questions & Answers

WEGRAZ Gesellschaft für Stadterneuerung und Assanierung m.b.H.
Leechgasse 29, 8010 Graz
Can I announce special requests?

Changes by the apartment applicant are possible, provided they do not cause any delay in the construction process, do not contradict official requirements or ÖNORM standards and the written consent of WEGRAZ is obtained in advance.

What are “ÖNORMEN”?

ÖNORM means a national standard, published by the Austrian Standards Institute. ÖNORMEN are voluntary standards that are developed by a committee of experts.

Are special requests or changes included in the purchase price?

No, the price of the special request depends, among other things, on the construction progress and must be clarified individually by the project manager.

Can all apartments also be purchased as investment apartments?

Yes. However, investment apartments have a different price structure. You can find out the respective investor price of your desired apartment from our sales team.

Can I choose the equipment of the property?

The purchase price already includes a choice of fittings. We provide our customers with a product catalogue for this purpose. Here you can either choose between the cost-neutral alternatives or select additional offers for an additional charge (special request).

Can walls in the apartment be moved?

This is possible in principle, but must be decided in each individual case, taking into account all relevant aspects (shafts, statics, etc.).

Am I allowed to change something on the exterior facade afterwards?

Changes to the exterior facade are generally not possible.

What additional costs are incurred when buying a property?

It should be noted that in addition to the purchase price, the following additional costs are incurred (in total approx. 7-8 % of the total purchase price):

  • Real estate transfer tax 3.5 %
  • Land registration fee 1.1 %
  • Costs for the lawyer (depending on the contracting party) plus 20 % VAT and cash expenses (e.g. for land registration fee, land register extracts, etc.)
  • Certification fees of the notary
  • Costs for possible external financing (depending on the agreement with the financing bank), including lien registration costs (1.2 % of the lien to be registered) and lawyer’s fee for the assumption of trusteeship 0.3 % (incl. 20 % VAT)
  • Lawyer’s fee for declaration of consent in the course of establishing condominium ownership 0.1 % (plus VAT and cash expenses)
How high are the operating costs?

The operating costs vary depending on the project. In each case, this is an estimate by the responsible property management. Please find the corresponding operating costs on our homepage under the respective project.

What is included in the operating costs?

The operating costs for owners and tenants include all costs relating to the entire complex: e.g. property management, staircase cleaning, snow removal, refuse collection, lift, etc. The operating costs for owners are calculated according to the utility and for tenants according to usable space.

In the case of owners, the reserve for future repairs or maintenance is also added. The operating costs do not include your individual consumption of electricity, hot and cold water, heating and costs for telephone, internet, etc.

Are operating costs also incurred for a parking space?

Yes, operating costs are also incurred for a parking space. They are calculated according to the respective utility value of the parking space.

What is a utility value?

The calculation of the utility value determines the ratio of the ownership shares of the individual co-owners among each other. The utility value is calculated from the usable space of the apartment or other premises. Additions and deductions are made for differences that increase or decrease the value.

What is a utility value appraisal?

For the purpose of establishing condominium ownership within the meaning of the provisions of the Austrian Freehold Property Act (“Wohnungseigentumsgesetz” – as amended), the utility value appraisal is one of the binding bases for the incorporation of the condominium ownership. The objective of the expert report is to determine utility values for the determination of the minimum shares in the independent condominiums of the property in question. In the course of the appraisal, the number and type of independent (condominium-suitable) rooms shall also be determined.

What references does the developer have?

For a long time, WEGRAZ has not only been active in traditional residential construction, but is also involved as a project developer in the commercial and industrial sectors, as well as in leisure and holiday properties. We cover the entire spectrum, from the purchase of land to planning and construction to sales.

We build on decades of experience.

What is a property developer?

A property developer is a company that commercially acquires, plans, develops, builds and sells the individual residential units.
The property developer appears before authorities and construction companies as the builder-owner.
The work on the construction site is carried out by companies commissioned by the property developer.
The developer supervises and coordinates the construction work and is the contact person for both the subcontractors and the new owner.

Purchase transaction:

  • A buyer purchases an apartment from us and signs a reservation agreement/purchase offer.
  • This forms the basis for the purchase contract/”Anwartschaftsvertrag” [agreement which grants the right to purchase (transfer for rent or use, transfer into ownership) a certain apartment from the developer], which is then drawn up by the lawyer and notarised.

After the sale of a unit, the buyer pays into an escrow account of the trustee in accordance with strict legal requirements.
In our case, the trustee is always the lawyer. The trustee draws up the purchase contract and guarantees the buyer that the money will only be forwarded to the developer after the construction progress has been verified.

The developer builds at his own risk.

What is the Austrian Commercial Developer’s Act (“Bauträgervertragsgesetz” – BTVG)?

The BTVG protects buyers of apartments and buildings wherever the property to be purchased has to be erected and the purchaser has to pay the purchase price or construction price in advance of completion (in terms of the contractually agreed construction and equipment condition). In these cases, the buyer runs the risk of losing his paid funds without receiving the consideration, namely the property to be built. The security of the purchaser is provided by the land register security model regulated in §§ 9 and 10 of the BTVG in case of payment according to the instalment plan prescribed by law. The payment according to the instalment plan is to guarantee that the payments of the purchaser or the payments of the purchase or construction price deposited in trust to the property developer correspond approximately to the value of the services already provided by the developer.

What is a reservation agreement/purchase offer?

The reservation agreement/purchase offer is a preliminary contract. This results in a mutually binding reservation of your desired apartment.

What is the difference between a reservation agreement/purchase offer and a purchase contract?

The reservation agreement/purchase offer is the preliminary contract on the basis of which the purchase contract is drawn up.

How does the apartment purchase work?

As soon as you have decided on your desired apartment, a preliminary contract is drawn up in our office. This creates a mutually binding reservation of your desired apartment. Your personalised purchase contract will be created on the basis of your provided data. The purchase contract is then signed directly in the responsible law firm and is notarised.

Can I choose the lawyer or trustee?

For projects yet to be built: no. With us, an entire project is supervised by one lawyer/trustee. Thus, all apartment buyers sign the same contracts and there are no unwanted delays in the purchase process and later in the land register entry and the condominium establishment. The proper and fair implementation of the entire process is only possible through the central support from a law firm.

When do I become the owner of a property?

You are the owner not registered in the land register after signing the purchase contract. You are the registered owner once your ownership rights have been incorporated in the land register. In the course of the incorporation of your property right, condominium is also established. This takes place after the final utility value appraisal has been prepared.

What is condominium ownership?

Condominium ownership is the right in rem granted to the co-owner or an owner partnership to exclusively use and dispose of a condominium property. It arises at the time of the registration in the land register.

  • Co-owners: Several people own a property.
  • Ownership partnership: consists of two natural persons who are joint owners of a property (apartment).
  • Property: the entire, uniform body of the land register, which is shown in the land register by its own entry number (in German: Einlagezahl = EZ).
  • Right in rem: sole right to exclusively use and dispose of a condominium object.
  • Condominium object: apartments, other independent rooms, parking spaces, if separately divided and valued with calculated shares by a utility value appraisal.

“Parifizierung” = utility value appraisal; expert report in which each apartment or car parking space is valued with calculated shares, which are stated in the purchase contract and entered in the land register.

Condominium agreement

Condominium ownership is established by written agreement of all co-owners in the form of a condominium agreement.

What is a land register?

The land register is a public property register. It consists of the main ledger, a collection of documents and auxiliary schedules. It is managed by the district court in whose district the property is located.

What is a servitude?

Servitudes or easements are limited rights in rem (i.e. enforceable against anyone) over another’s property (§ 472 Austrian Civil Code). The owner of the object is obliged to tolerate or refrain from doing something for the benefit of another (e.g. right of way, routing of pipes, etc.).

What is an energy performance certificate?

The energy indicators show the energy demand per m² of heated area. They provide information about the expected consumption for heating and hot water production, the efficiency of the building services system and the effect of the energy sources used on global warming.

The energy performance certificate

  • shows the energy quality of a property at a glance
  • enables a neutral and independent comparison
  • is the central instrument for energy optimisation
  • is mandatory when submitting a project
  • is an integral part of the purchase of a property

The actual consumption in the completed building can deviate due to individual user behaviour and the actual prevailing climatic conditions (comparable to the stated fuel consumption per 100 km in a car – the actual consumption varies depending on driving style, speed, driving distance, etc.).

When will the handover date be announced?

Approximately 2 months before completion, all buyers will be informed in writing about the

How do I report defects?

Defects can be submitted by e-mail within the warranty period.

Can I enter my apartment before the handover?

In order not to hinder the progress of construction work or for safety reasons, the apartments are not accessible during construction.

What does the support look like after the handover of the apartment?

The sales team is always happy to answer any questions you may have. For defects and warranty issues, please contact our employees in the construction management department.

There are defects in the apartment. How long is the warranty period?

The warranty period is 3 years for immovable parts and 2 years for movable parts. The warranty period starts from the handover of the apartment by the seller or from the unjustified refusal of the buyer to take over the apartment. Surface damage (e.g. parquet, tiles, window glass) can only be notified at the time of handover.

What does retention mean?

In order to secure any warranty and damage claims due to defective performance for the purchaser, retention of at least 2% of the price must be granted for three years from the handover of the property or the property developer will submit a bank guarantee or takes out appropriate insurance.

What percentage of own funds do I need to have?

Financing can be very individual. You determine the term, equity share and form of financing – and thus the amount of the monthly instalment yourself.

Can I carry out the financing with my house bank?

Yes, you choose the financing bank yourself.

What does privately financed mean?

Privately financed apartments are apartments for free use or investment apartments that are financed “privately”, so to speak, i.e. without housing subsidies.
You can use these apartments for renting out, for example, which you are not allowed to do with a subsidised apartment.



What is a reservation?

A reservation is the inclusion of your contact details in a list of interested parties for one or more specific projects. The advantage of a reservation is that you are involved in a project from the very beginning. All available information and plans for this project will be sent to you before the official sales start.

What is a non-binding reservation?

The non-binding reservation is a ranking in the WEGRAZ reservation system. The first-ranked client has an exclusive period of approx. 2 weeks to make a purchase decision. During these 2 weeks, the consultation meeting takes place in our office or the viewing appointment directly on site. If the interested party does not contact us after this period, the non-binding reservation will be deleted. If the client does not decide in favour of the apartment, the non-binding reservation will also be deleted and the second-ranked person will move up to rank #1. There are no costs for a non-binding reservation.

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