General terms and conditions of business

1. The following offers are nonbinding and subject to alteration. Errors, omissions, as well as prior sales remain reserved. The offers are made on the assumption that the receiver wants to acquire or use the property. These are strictly confidential and may not be shared with a third party, parties with power of attorney, or principal agent without written consent from Allgemeiner Grund & Boden Fundus. Offenders will be liable for the commission fee.

2. Commission is due if the business that precipitated the brokerage was successfully concluded. The contract must have come through our agency as a result of our presentation. Commission is also due if a contract expires due to outstanding subjects or on the grounds of revocation of the title. The commission is not affected by the fact that the conclusion of the carried out contract is at a later date than what is stated in the contract or other conditions that still lead to a successful transaction.

3. The commission is due following the end of the brokering or verified business. We are entitled to the commission even when the business is concluded with an alternate solution that can still be interpreted as a business success in the frame of the original handlings (such as a rental or lease agreement instead of a sale agreement or, reversed, foreclosure by extending the offer to anyone who has first right of sale).

4. The commission rate for a realtor in the event of a sale or purchase as well as an acquisition made via foreclosure sale on undeveloped or built property or leasehold rights totals 7.14% of the total purchase price including 19% VAT. For brokering a commercial lease, the rate is three months rent without utilities (so called Kaltmiete or cold rent), as well as the legal VAT of 19%. Sales protected by the legal right to first sale, a further 3.57% of the purchase price including the legally mandated VAT of 19% will be added to the regular commission.

5. There is no warranty for the validity and integrity of the financial offer.

6. Finding any of the condition(s) invalid does not invalidate the remaining terms and conditions. The invalid condition(s) will be replaced with valid ones providing they take into consideration the purpose of the condition(s) that were deemed invalid respectively.

7. Fulfillment and jurisdiction is in Berlin, Germany.

Allgemeiner Grund & Boden Fundus
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