Freehold apartments, houses and commercial property in Berlin, Hamburg, Bavaria and on the Baltic Sea coast

General Terms and Conditions of Business of W&N Immobilienvertriebsgesellschaft mbH (W&N)

1.
Apart from explicitly or tacitly commissioning W&N to furnish information on contractual matters by parties interested in buying or renting property (clients), orders with clients also materialise by using the agency services of W&N. In addition, W&N usually has agency agreements with the property owners which contain the obligation to protect their interests irrespective of the duty to pay commission.

2.
Quotations, documentation and further information shall be treated confidentially by the recipient. The passing on thereof without obtaining prior written approval to do so from W&N shall result in claims for compensation against the client at least in the amount of the agreed commission, if applicable also the amount of lost claims for commission against third parties (e.g. property owners). The client is reserved the right to furnish proof that less damage was suffered.

3.
Particulars concerning any property including all information provided by W&N are based solely on information provided by the property owners, which W&N does not guarantee to be accurate or complete. If W&N becomes aware that individual particulars are incorrect, it shall correct the particulars it has given to the client. Otherwise, the liability of W&N and its vicarious agents and their liability for contractual and pre-contractual claims and statutory claims for damages including claims based on tort or on incorrect information they have provided themselves are limited to wilful intent and gross negligence. This limitation of liability does not apply to damage arising from death, physical injury or an impairment of health.

4.
The client shall notify W&N of any objections due to prior knowledge within seven calendar days after receipt of the information provided by W&N by stating the verifiable source and the date. Upon commencing contract negotiations, the other contract partner must be informed that the client was informed by W&N. The client shall immediately notify W&N of the commencement of contract negotiations, the imminent and / or finalized conclusion of contract, also for property from the same contract partner other than the property offered. W&N may demand copies of the contract from the client.

W&N may demand from the client that his/her obligation to pay commission upon the sale is made an integral part of the notarial sales contract – including any clause on submission to execution in favour of W&N -. Furthermore, W&N may demand from the client that a clause is included in the notarial sales contract which obliges a pre-emptor to pay the buyer's commission to W&N in the event that he/she exercises his/her right of pre-emption.

5.
As a basic principle, W&N works for a fee. The client must pay a commission to W&N if the information they have provided or their agency services were successful in leading to conclusion of a contract based on the offer. The first time when the seller or the property was disclosed or there was an opportunity to conclude a contract is also valid as successful information. The conclusion of a primary contract for a different, commercially comparable property of the contract partner of whom the client was informed likewise requires that commission is paid.

6.
Subject to an express agreement otherwise or information provided in the exposé, the commission amounts to 7.14% of the sales price for sales contracts or 2.38 net month’s rent for tenancy contracts including VAT in each case. It arises if the primary contract effectively materialises and is due and payable within 6 days after the date of the contract, in cases where there is a condition precedent after the occurrence of the condition, in cases where there is a contractually agreed right of rescission, after establishing that it has not been exercised.

7.
Amendments and / or supplements to the contract should be made in writing (fax suffices), including any amendment of this clause. Should a clause be or become invalid in whole or in part, this shall not affect the validity of the remaining provisions. In lieu of the invalid clause, a provision shall apply which most closely approximates the invalid clause in a commercially effective form.

8.
For disputes with clients who are merchants, legal entities under public law or who are without a general place of jurisdiction in Germany and with clients who move their residence or their fixed abode to abroad after conclusion of contract or whose residence or fixed abode is unknown at the time when legal action is brought, the courts in Dachau, Germany, shall have jurisdiction and venue.