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General Terms and Conditions
In accordance with the provisions of the Real Estate Brokerage Act (Official Gazette 107/2007, 144/2012, 14/2014, 32/2019),
Geo Grupa d.o.o. Zagreb, on January 2, 2023, sets out the following Terms and Conditions
I.INTRODUCTION
The Terms and Conditions regulate the business relationship between the company Geo Grupa d.o.o., Savska cesta 144a, Zagreb, OIB: 56055678342, MBS: 080485264, (hereinafter: the Broker) as a Broker and the Client (natural or legal persons). By concluding the Brokerage Agreement, the Client confirms that they are familiar and in accordance with the provisions of the terms and conditions of Geo Grupa d.o.o.
Real estate brokerage implies the actions of real estate agents concerning the connection between the Client and the buyer / lessee / tenant, and negotiations and preparations for concluding legal transactions which are the subject of a particular real estate, especially in buying, selling, swapping, renting, leasing, etc.
The real estate offer of the Broker Geo Grupa d.o.o. is based on data received in writing and/or orally by the Client. The Broker retains the possibility of errors in the description and price of the property that may occur due to incorrect data or changes in the conditions by the Client and the possibility that the advertised property has already been sold / rented or the owner has given up selling / renting without timely notification to Geo Grupa d.o.o.
II. BROKERAGE AGREEMENT
The real estate Brokerage Agreement (hereinafter: the Agreement) requires the Broker
to try to find a third party and connect them with the Client in order to negotiate and conclude a certain legal transaction on the transfer or establishment of a certain right to real estate, and the Client undertakes to pay the Broker a certain brokerage fee if the legal transaction is concluded.
The Agreement is concluded in writing and for a definite period of time and is considered concluded when it is signed by both parties.
If the contracting parties do not agree on the term for which they conclude the Agreement, it is considered that it has been concluded for a definite period of 12 months and may be extended several times by agreement of the parties. The provisions of the general regulations of the law of obligations shall apply to the obligatory relationship between the contracting parties.
Agreement contents
The Agreement concluded between the contracting parties shall contain information on the Broker, the Client, the type and essential content of the work for which the Broker mediates, the brokerage fee, and possible additional costs incurred when the Broker performs other related or unrelated services in agreement with the Client. The Agreement may also contain other information related to the work in which the agency mediates.
Exclusive brokerage
By signing the Agreement, the Client may undertake not to hire any other broker for the mediated work, i.e., not to sell the property alone or in another way (agreement on exclusive mediation), to which an obligation must be explicitly agreed upon, and the Broker must warn the Client of the meaning and legal consequences of this clause.
If within the duration of the agreement on exclusive mediation the Client concludes a legal transaction without the Broker’s knowledge through another broker, i.e., himself or in another way, and for which the exclusive Broker was given a mediation order, the Client is obliged to pay the Broker a brokerage fee and any additional costs incurred during the mediation process, which cannot be higher than the brokerage fee for the mediated job, and which will be agreed upon when concluding the Exclusive Brokerage Agreement.
Termination of the Brokerage Agreement
An agreement concluded for a definite period of time shall be terminated upon the expiration of the term for which it was concluded if the contract for which the mediation was made was not concluded within that period or by the termination of either of the contracting parties.
The Client is obliged to reimburse the Broker for the costs incurred for which it was otherwise explicitly agreed that the Client pays them separately.
If in the period shorter than the Agreement duration the Client concludes a legal transaction that is mainly a consequence of the Broker’s actions before the termination of the Agreement, the Client shall pay the brokerage fee in full, unless otherwise agreed upon in the Agreement.The provisions of the termination of the Brokerage Agreement also apply to the termination of the Exclusive Brokerage Agreement.
III.OBLIGATIONS OF THE BROKER:
The intermediary is obliged to perform the following in particular when mediating for the conclusion of a contract of sale, purchase, rent or lease of real estate:
1. Try to find and connect a legal or natural person with the Client in order to conclude a brokered deal.
2. Familiarize the Client with the average market price of similar real estate.
3. Inspect the documents proving the ownership or other real right on the real estate in question.
4. Perform the necessary actions for the presentation of real estate on the market, advertise the property in an appropriate manner, and perform all other actions agreed upon in the real estate Brokerage Agreement that exceed the usual presentation, for which the Broker is entitled to special, pre-specified cost reimbursement.
5. Provide real estate showings.
6. Mediate in negotiations and strive to conclude a contract, if specifically undertaken to do so.
7. Keep confidential the personal data of the Client, and, upon the written order of the Client, to keep as a trade secret the data on the real estate that is being mediated or in connection with that real estate or with the business for which the mediation is being conducted.
8. If the subject of the agreement is land, check the purpose of the land in question in accordance with the regulations on spatial planning that apply to that land.
9. Inform the Client of all circumstances relevant to the intended work that are known or must be known to the Broker.
It is considered that the Broker has enabled the Client to liaise with a third party on the negotiation for the conclusion of the mediated transaction if the Client is enabled to enter into a relationship with a third party with whom they negotiated for the conclusion of a legal transaction, especially if the Broker:
• directly took or instructed the Client to inspect the real estate in question
• organized a meeting between the Client and a third party for the purposes of negotiation for the conclusion of a legal transaction
• gave the Client the name, phone number, fax number, or address of a third party or notified him of the exact location of the desired real estate.
IV. OBLIGATIONS OF THE CLIENT:
The Client is obligated to perform the following in particular:
1. conclude a Brokerage Agreement or an Exclusive Brokerage Agreement with the Broker
2. inform the Broker of all circumstances important for mediation and provide accurate information about the property, and if applicable, to give the Broker a location, construction or use permit for the property that is the subject of the Agreement and provide the Broker with evidence of obligation fulfilment towards a third party
3. provide the Broker with documents proving ownership of the real estate, or other real right on the real estate that is the subject of the Agreement and warn the Broker of all registered and unregistered encumbrances that exist on the real estate
4. provide the Broker and a third party with a showing of the property
5. inform the Broker about all relevant information about the requested real estate, which includes in particular the description of the real estate and the price,
6. The Client must keep confidential the offers and notifications of the Broker and may only transfer them to a third party with the written approval of the Broker, and if the offer recipient or the Client are familiar with the real estate offered by the Broker, they must inform the Broker without delay
7. after concluding the mediated legal transaction, i.e., the pre-contract by which the Client undertook to conclude the mediated legal transaction, to pay the Broker a brokerage fee, unless otherwise agreed upon,
8. if it is explicitly agreed upon, to reimburse the Broker for expenses incurred during the mediation that exceed usual mediation costs
9. notify the Broker in writing of any changes related to the work for which the Broker is authorized, in particular of changes related to property ownership.
V.BROKER’S OBLIGATIONS TOWARDS THE CLIENT – buyer/tenant/lessee:
1. Try to find an appropriate real estate for the Client, put the Client in contact with a property owner ready to negotiate the conclusion of a purchase agreement (swap, rent, lease agreement, etc.);
2. provide the buyer with evidence of ownership of the property that is the subject of sale/purchase/rent/lease;
3. organize the notarization of the seller’s and buyer’s signatures via a notary public;
4. attend the payment of the purchase price and the handover of the real estate, during which the record of the handover is drawn up;
5. If the Client orders the Broker, the Broker may: file a tax return with the competent tax administration office, arrange and submit all necessary documentation for the transfer of utilities from the seller to the buyer, submit a proposal for registration of ownership of purchased real estate on behalf of the Buyer at the Land Registry Department of the competent County Court.
VI.BROKERAGE FEE AND PRICE LIST
The Broker acquires the right to a brokerage fee - a commission in full at the time of concluding the mediated transaction. The fee is charged at the same time or immediately after the conclusion of the legal transaction for which Geo Grupa d.o.o. mediated.
According to these conditions, the mediated legal transaction is also the one when the Client concludes a contract, pre-contract and / or tranfers a deposit to a third party.
It is considered that the mediation is performed in the case that the legal transaction is concluded with family members of a third party brought into contact with the Client by the Broker, or with a company owned by a third party, or even if the company is co-owned by family members of a third party or if a third party has influence through the function it performs in the aforementioned company.
The Contracting Parties agree that the Client is obliged to pay the brokerage fee in full after the expiration / termination of the Agreement, and in the next period within the period agreed upon in the Agreement (up to 12 months), if it enters into a legal transaction with the person or persons the Broker connected them to, or if that legal transaction is in any way predominantly a consequence of the Broker’s actions prior to the termination of the Agreement.
The brokerage fee includes all costs incurred by Geo Grupa d.o.o. during mediation. This does not apply to costs incurred in the event that Geo Grupa d.o.o. agrees with the Client to perform other services related to the work that is the subject of mediation, which are not included in the usual mediation activities. The fee is charged as a percentage of the total amount of the purchase price, increased by VAT.
Brokerage fee price list:
PURCHASE AND SALE
Highest total fee 6%, lowest total fee 4%
SALE
The real estate sale brokerage fee (charged to the seller based on the Brokerage Agreement):
• 2 – 4 %, but no less than EUR 1.000,00 (onethousand euros)
PURCHASE
The real estate purchase brokerage fee (charged to the buyer based on the Brokerage Agreement or a written or oral real estate demand order by the buyer):
• 2 – 4 %, but no less than EUR 1.000,00 (onethousand euros)
SWAP
In the event of a swap, a fee is charged to each party in the exchange, and the percentage is calculated from the value of the property acquired by the party through the swap:
• 2-3 %
RENTING AND LEASING – renter and lessor fee
Monthly rent percentage
• 75 % minimum
• 100 % for rent or lease of 12 to 36 months’
• 150 % minimum for rent or lease of 36 months (3 years) and more
RENTING AND LEASING – tenant and lessee fee
Monthly rent/lease percentage:
• 75 % minimum for rent or lease
• 100 % for rent or lease of 12 to 36 months
• 150 % minimum for rent or lease of 36 months (3 years) and more
VAT is charged on top of all listed prices.
A Brokerage Agreement is signed with every client.
In the case of performing activities not stated in Article II. of the terms and conditions based on the request of the Client, the brokerage hour amounts to EUR 50,00 (fifty euros).
In the case of performing activities not covered in Article II. of the terms and conditions based on the request of the Client, the Client is obliged to reimburse the Broker in addition to the fee for the brokerage hour and the actual costs of performing these actions.
The provisions of the Real Estate Brokerage Act and the Civil Obligations Act shall apply to the relations between the Client and the Broker arising from the Brokerage Agreement which are not regulated by these terms and conditions or the Brokerage Agreement. The jurisdiction over any disputes that may arise is on the hands of the competent court.
GEO GRUPA d.o.o., January 2023