The construction specification is a detailed description of the building to be constructed. This not only defines the materials required but also the type of execution. If this concerns private real estate financing, then the construction specification belongs to the basics that a builder or real estate buyer must present to his bank for credit approval. This is thus an important component of a building contract. Furthermore, it is explicitly required when a purchase of land or a purchase from builders is connected with the construction.
Service charges are understood to be the costs which incur due to the ongoing operation and maintaining of a real estate. This includes heating costs, liability, repairs and real estate tax.
