Signing the purchase contract feels like the finish line, but in fact this is where the most important part of the deal begins. Between signing the contract and getting the keys to an apartment in Vienna there are usually six weeks to four months, and throughout this time a notary or lawyer, the bank, the tax office and the land registry court are working behind the scenes. Buyers often see only two moments: the signature and the handover of the keys. Yet it is in between that it is decided whether your money is safe, when you become the owner and who pays the service charges. This article takes you behind the scenes of the deal: we go through every step, explain where the money is at each stage, and show a typical timeline using the example of a couple buying a two-room apartment. We have used the rules in force as of October 2026.
Why signing does not yet make you the owner
In Austria, ownership of property does not arise when the contract is signed, or even after payment, but only once you are entered in the land register (Grundbuch). The official portal oesterreich.gv.at warns explicitly that neither a signed contract, nor keys received, nor a paid price make the buyer the owner. Priority in the Grundbuch depends on when the application reaches the court, so every day between signing and registration in theory carries a risk: the seller could sell the apartment a second time, take out a loan against it, or have it seized for debts. We explained how the land register works and what each of its sections means in our article on the Grundbuch in Austria.
To close off this risk, Austrian practice relies on two protective mechanisms. The first is escrow (Treuhand): the buyer’s money does not go directly to the seller but sits in a separate account held by a notary or lawyer until all conditions are met. A notary must record the escrow in the Austrian trust register before any funds are moved, while a lawyer works through the bar association’s trust accounts. The second is the Rangordnung, a priority reservation in the Grundbuch: the court reserves a place in the queue for the planned sale for one year, so later entries can no longer harm you.
The steps of the deal: from signing to keys
Below is the typical sequence of steps when buying a resale apartment in Vienna with a mortgage. The timings are approximate: they depend on the bank, on whether the seller has a mortgage on the apartment, and on how busy the court is.
| Step | What happens | Who is responsible | Approximate timing |
|---|---|---|---|
| 1. Drafting the contract | A notary or lawyer drafts the Kaufvertrag based on the accepted Kaufanbot | Vertragserrichter (contract drafter) | 1–3 weeks |
| 2. Signing | Signatures are certified, the escrow is opened and recorded in the register | Buyer, seller, notary | 1 day |
| 3. Rangordnung | The court reserves your place in the Grundbuch queue | Escrow agent | a few days |
| 4. Payment | Own funds and the bank loan arrive in the escrow account | Buyer, bank | 1–4 weeks |
| 5. Tax | The notary calculates and pays the property transfer tax (Grunderwerbsteuer) | Escrow agent | by the 15th of the second month |
| 6. Clearing encumbrances | The seller’s mortgage is paid off from the price and the bank consents to its deletion | Escrow agent, seller’s bank | 2–6 weeks |
| 7. Registration | Application to the district court; you are entered in the Grundbuch as owner | Escrow agent, court | a few weeks |
| 8. Payout to the seller | Once registration is confirmed, the money is transferred to the seller | Escrow agent | a few days |
| 9. Handover | Handover report, meter readings, keys | Buyer, seller | date set in the contract |
Let’s look at a few details buyers often miss. The notary usually calculates the property transfer tax, and as the Austrian Ministry of Finance explains, it must be paid by the 15th day of the second month after the month of calculation. That is why this 3.5% of the price should be in the escrow account together with the purchase price. If you are a non-EU citizen, one more step is added between signing and registration: the MA 35 permit, without which the court will not make the entry. We described this procedure in detail in our article on buying property as a foreigner and getting the permit.
Where the money is and who pays for what
The main rule: until you are registered in the Grundbuch, the seller does not receive a single euro in hand. The only exception is paying off the seller’s mortgage: the escrow agent transfers this part of the price directly to the seller’s bank so that the apartment passes to you free of encumbrances. The bank pays the loan not to you or the seller but to the escrow agent, who undertakes to ensure that the bank’s mortgage is registered in the Grundbuch. To make sure the bank does not delay the payout, you should have a loan decision before signing the contract; we explain how to prepare for the conversation with your bank in our article on how to get a mortgage in Austria. The escrow agent is accountable to both sides and liable for mistakes. Ask for copies of the escrow account statements to be sent to you as well: this way the money you paid in is covered by insurance. We wrote separately about how the escrow account protects buyers of new-build apartments under the BTVG in our article on the trust account and the BTVG.
Another important question is the handover date (Übergabe). It is set in the contract and does not have to coincide with registration: the keys are often handed over as soon as the full amount has arrived in the escrow account. From that date the risks and costs pass to you: service charges (Betriebskosten), the repair reserve contribution, insurance and energy bills. That is why a handover report is drawn up with the condition of the apartment and the meter readings, and the property manager is informed about the new owner. One more obligation that people often forget: if you move into the apartment, you must register your residence within three days of moving in.
Case study: Olena and Taras’s deal timeline
Olena and Taras are buying a resale two-room apartment for €260,000 with a €208,000 loan, which is 80% of the price. The seller has a small mortgage on the apartment. Here is what a typical timeline of their deal looks like, along with the flow of money at each stage.
| Week | Event | Money |
|---|---|---|
| 0 | The seller accepts the Kaufanbot | — |
| 2 | Signing the Kaufvertrag at the notary, opening the escrow | — |
| 2 | The notary applies for the Rangordnung | — |
| 3 | Own funds arrive in the escrow account | €52,000 + €9,100 tax + €2,860 and €2,496 registration fees, €66,456 in total |
| 4 | The bank transfers the loan to the escrow account | €208,000 |
| 4 | Handover: report, meter readings, keys | from this day Olena and Taras pay the service charges |
| 5 | The notary calculates the tax and files the application with the court | €9,100 Grunderwerbsteuer is paid from the escrow account within the legal deadline |
| 5–6 | The seller’s mortgage is paid off from the price | part of the price goes to the seller’s bank |
| 8–10 | Olena and Taras are entered in the Grundbuch as owners | €2,860 for registering ownership, €2,496 for registering the mortgage |
| 10 | Payout to the seller | remaining price |
About two months pass between signing and full registration, but the couple get the keys just two weeks after signing the contract. Throughout this time the money is protected: if the deal fell through, for example because a seizure order on the apartment came to light, the escrow agent would return the money rather than pass it to the seller. Keep in mind that the Grundbuch registration fees (1.1% of the price for ownership and 1.2% of the loan amount for the mortgage) are once again payable in full, because the exemption for owner-occupied homes ended on 30 June 2026. We looked in detail at how to avoid budget mistakes at the Kaufanbot stage in our article on the 7 mistakes that cost apartment buyers thousands of euros.
Conclusion: what you should know about the deal from signing to keys
The most important part of buying an apartment in Vienna happens between signing the contract and getting the keys: the money goes through an escrow account, your place in the Grundbuch is reserved in advance, the notary pays the tax, and the seller only receives the money once you are already registered as the owner. Knowing this sequence, you understand when you need the money, when the costs pass to you and why you should never pay the seller directly.
At VigoImmobilien we support you at every step of this journey: we agree the timeline with the seller and the bank, check the building’s documents, keep track of deadlines and carry out the handover with a report together with you. We coordinate the legal side of the deal with the notary or lawyer of your choice. Read more in our article on the services of a real estate agent in Austria.
We will draw up a timeline for your deal free of charge: from the Kaufanbot to the keys, with dates, the amounts at each stage and a list of documents worth preparing in advance. No obligation. Write to us today: +43 664 998 775 99, [email protected] or on Telegram @vigoimmobilienmanager.
This article contains general information as of October 2026 and is not legal or tax advice. The exact procedure and timings are set by the contract and the escrow agent; for your specific situation, please consult a notary or lawyer.
