Terms and conditions

Business Terms and Conditions


Pursuant to the provisions of the Act on Real Estate Brokerage, Class: 001-01/07-01/128, Reg. no.: 001-01/07, of 2 November 2007, the Real Estate Agency ARS (hereinafter as the Broker) hereby passes the following:

GENERAL BUSINESS TERMS AND CONDITIONS


 1. Real Estate Offer

The offer of the Broker is based on the information that is received in writing and orally and is conditioned by the confirmation. We reserve the possibility of errors, pre-emption or withdrawal of the property owner.  We take responsibility for any false information in case of a deliberate or extremely reckless behaviour. The beneficiary (the Principal) has to keep the confidentiality of our offers and notices and may transfer them to a third party only with our written permission. 

2. Obligations of the Broker

1. Sign the Brokerage Contract with the Principal (standard or exclusive);
2. Try to find a third party and bring him/her into connection with the Principal in order to conclude the transaction;
3. Estimate the market value of the real estate and inform the Principal about it;
4. Inform the Principal about the deficiencies of the real estate and about the market situation;
5. Control the documents necessary for the validity of the transaction;
6. Inform the Principal on all legal, tax and other obligations that may arise during the legal process related to the real estate in question;
7. Carry out all necessary actions for the presentation of the real estate on the market, advertise the real estate in a suitable manner determined by the agency;
8. Enable the inspection of the real estate (organization and guidance);
9. Not to disclose personal information of the Principal and, based on the request of the Principal, other information as well;
10. Inform the Principal about all circumstances that we are aware of and that are relevant to the transaction;
11. Mediate in negotiations and try to conclude the legal transaction;
12. Prepare the documents for the transfer of ownership (Preliminary Contract and/or the Contract) that is managed in the cooperation with the Attorney-at-Law;
13. Act as agents during the handover of the real property;

14. In case that the Contract or a Preliminary Contract was signed between the Principal and the third party and the Principal withdraws from the sale, the Principal is liable to pay a fee defined in the Brokerage Contract.

 

It shall be considered that the Agency enabled the Principal (seller of the real estate) to contact a third party (natural or legal person) in order to negotiate on the conclusion of the legal transaction, especially if the Agency:

-          has directly taken or directed the third party (buyer of the real estate) to inspect the real estate in question,

-          has organized a meeting between the Principal and the third contracting party to negotiate on the legal transaction

-          has provided the Principal with the name, telephone number, fax number, e-mail address of the third person authorized for concluding the legal transaction

-          or has informed the Principal about the exact location of the requested real estate.


3. Obligations of the Principal


3.1. Obligations of the Principal – the seller of the real estate

1. To conclude the Brokerage Contract with the Agency (standard or exclusive);
2. To provide the Agency with all the documents that prove his ownership of the real estate, or any other property right concerning the real estate that is the subject of the brokerage;
3. To notify the Agency about all the necessary information, which particularly includes the description of the real estate and its price;
4. To enable the Agency and another party interested in concluding the mediated transaction to inspect the real estate accompanied by the agent;
5. Immediately after the completion of the mediated transaction, i.e. upon concluding the Preliminary Contract or the Contract in which the Principal obliged himself to conclude the mediated legal transaction, to pay the Agency the stipulated fee (commission);
6. To reimburse to the Agency all expenses incurred during the brokerage, that are not included the usual mediation expenses;
7. To notify the Agency in writing about all changes concerning the transaction for which he authorized the Agency, especially about the changes related to the ownership of the real estate.

The Principal shall be liable for damages in case of any fraudulent actions, if he failed to give or has given incorrect information relevant for the brokerage, with the aim of concluding the legal transaction.

The Principal is also liable for damages in case of his deliberate or extremely negligent behaviour toward the Agency or the third contracting party that was sent by the Agency. If this is the case, the parties agree that the Principal is liable to pay the Agency all expenses incurred during the brokerage, that cannot be higher than the brokerage fee (commission) for the mediated transaction.

3.2. Obligations of the Principal – buyer of the real estate


1. To conclude the Brokerage Contract /Appointment with the Agency;
2. To pay the Agency the stipulated fee (commission) immediately after the conclusion of the mediated transaction, i.e. upon the conclusion of the Preliminary Contract or the Contract

in which the Principal obliged himself to conclude the mediated legal transaction.

 

4. Realization of the rights to a commission fee
The Agency is entitled to charge the commission fee in its total amount upon the conclusion of the transaction (by signing the Preliminary Contract or the Contract). The commission fee shall be paid to the Agency simultaneously or immediately upon the conclusion of the legal transaction in which the Agency acted as a broker, i.e. by signing the Preliminary Contract or the Contract by the two contracting parties. 


If the Principal withdraws during the conclusion of the mediated transaction, he is liable to pay the actual expenses in terms of the consumed time, advertising and other costs, according to the brokerage fee. 


The Principal is liable to pay a fee even in case of entering into a legal transaction with the person he was introduced to by the Agency, and this transaction was different from the one in which the Agency acted as a broker, and that has the equal value as the legal transaction, i.e. that has the same purpose as the mediated legal transaction.

The Agency is entitled to a fee in case that the spouse or extra-marital partner, a descendant or parent of the Principal has concluded the legal mediation transaction with the person that contacted the Principal through the Agency.

The fee also includes the usual brokerage expenses, except from those that are stipulated separately. The Agency has the right to an advance payment of the brokerage fee only if it has been stipulated previously. The Agency is also entitled to a fee even when it is not explicitly stipulated in the Brokerage Contract. The amount of the fee is determined according to the brokerage tariff.


5. Price List

The percentages indicated below are paid as the brokerage fee and are subject to VAT.

5.1. Purchase

The brokerage commission fee amounts to 3 % of the agreed real estate price. It shall be defined upon the conclusion of the Brokerage Contract/Appointment. The commission can also include the costs of the purchase and sale contract if it is defined in the Brokerage Contract/Appointment. 

The Principal that has signed an exclusive Brokerage Contract with the Agency shall be charged according to the amount stipulated and defined in the Contract.

5.2. Sale

The brokerage commission fee amounts to 3% of the agreed real estate price that exceeds 35.000 EUR. A fixed amount will be agreed for lower amounts.  

The commission fee will be defined during the conclusion of the Brokerage Contract.

The Principal that has signed an exclusive Brokerage Contract with the Agency shall be charged according to the amount stipulated and defined in the Contract.


The parties may cancel the Real Estate Brokerage Contract before the expiration of the stipulated deadline only if they can provide a sufficiently justified reason. In this case, the Principal is obligated to reimburse the costs incurred to the Agency.

If within one year after the termination of the Real Estate Brokerage Contract, the Principal concludes the mediated legal transaction with a third party that he was introduced to by the Agency, the Principal is liable to reimburse the whole amount of the brokerage commission fee to the Agency.  

The Brokerage Contract is concluded for a definite period of time and may be cancelled before the expiration of the stipulated period only with a written notice sent by one of the contracting parties. If the notice period is not strictly defined in the Brokerage Contract, the notice period shall be 8 days from the day the notice was received. In case the Real Estate Brokerage Contract was cancelled, the parties have no claims from each other. The Principal is liable to reimburse the costs incurred to the Agency. 

 
7. General provisions and dispute solving

The relations between the Principal and the Agency from this Brokerage Contract that are not defined by these General Business Terms and Conditions or by the Brokerage Contract, shall be resolved by the general provisions on the Brokerage Contract as well as other provisions from the Civil Obligations Act.



All possible disputes shall be resolved by the Municipal Court in Labin.

In Labin, 16.5.2013  


Romina Činko, owner

 





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