General Business Terms

Our broker activity comprises the proof and/or the mediation of real estate business including the relevant consultancy services. We consider business relationships with our customers to be a matter of trust. We in particular shall always make an effort to settle all orders to a high-quality, i. e. quickly, conscientiously and with the due care and attention of an ordinary merchant. If we work for several contractual partners at the same time, we shall avoid conflicts of interest and make an effort to find a solution which is satisfactory for all parties involved. The following business terms and conditions create the basis for a trustworthy cooperation.

§ 1 Proof or mediation activity

In case not otherwise agreed (e. g. in the form of a compensation of expenses which is not dependent on success), our broker’s commission shall only be earned as soon as a contract has been concluded for the property concerned which corresponds with our order or is deemed financially equivalent either through our proof or through our mediation. Our assistance in such a conclusion shall also be sufficient.

§ 2 Commission in case of purchase of real estate

Insofar as not otherwise agreed the commission, which is to be paid by the broker’s customer, amounts with the purchase of properties or rights equivalent to properties:

5.0 % of the purchase price with properties up to € 15.0 mill.
4.0 % of the purchase price with properties up to € 25.0 mill.
3.5 % of the purchase price with properties up to € 40.0 mill.
3.0 % of the purchase price with properties exceeding € 40.0 mill.

If purchase price payments are replaced either in whole or in part by other considerations the value of these alternative payments is also to be taken into account.

§ 3 Purchase and sale of companies

Insofar as not otherwise agreed the commission to be paid by the broker’s customer with the purchase and sale of companies or participating interests (company rights) in companies amounts to 3 % by the seller as well as the buyer, calculated from the value of the contract.

§ 4 Broker’s commission in case of rental and leasing

Insofar as not otherwise agreed our broker’s commission in case of rentals and leasing amounts to 3 % of the rent relating to the total term of the contract (without incidental costs), as a maximum from the 10-year net total rent, at least however 2 net monthly rents.

In case of rentals and leasing with a term of lease up to 5 years we charge 2 net monthly rents commission as a minimum fee.

In case of contracts with options on extensions of the contract or on the takeover of further rentable areas the options are to be added to the term of the contract or the rented area irrespective of a subsequent exercising of the option. In this case the entitlement to commission is limited to 3 % of a 10-year net rent. At least however 2 net monthly rents shall be settled.

If a revenue-based rent is agreed in the tenancy or leasehold agreement our broker’s commission is calculated at 3 % of the rent projected to the 10-year term (without incidental costs), which the contractual parties would have agreed, if they had agreed a fixed rent instead of a revenue-based rent. To this end reference is in particular to be made to the customary local rent for comparable properties as well as to the rent, which the landlord demanded or the tenant offered, before he reached an agreement with the broker’s customer about a revenue-based rent.

If with the conclusion of a rental or lease contract, the tenant initiates that payment of compensation (or similar) is made between the parties or to a third party, we are entitled to receive a 3 % commission of this sum.

§ 5 Broker’s commission with similar real estate transactions

The modern and flexible real estate market is associated with possibilities for design, which do not correspond with the normal purchase or the classical rental of a property and therefore require several special regulations. The following shall apply to these special forms:

(a) If the buyer undertakes to pay an annuity, the annuity payments capitalised according to the valuation law shall be deemed as purchase price.

(b) If a similar financial transaction has been concluded instead of a purchase contract such as e. g. the acquisition of heritable building rights and/or options, the contribution of a property into a company, the purchase of company shares, the purchase of receivables with enforcement or similar process, the commission regulations in §§ 2, 3 and 4 shall apply accordingly.

(c) The commission amounts to 1 % of the rent projected to 10 years for the mediation of pre-rental rights, rental rights or similar prior claims in connection with a rental. The same shall apply to leasehold and other use relationships. We shall charge 1 % of the current market value of the property for the mediation of pre-emptive rights or similar rights in connection with the purchase of real estate.

§ 6 Continued existence of the entitlement to the broker’s commis-sion

Our entitlement to broker’s commission shall continue to exist if the concluded contract expires through a condition subsequent or is not satisfied owing to a reservation of cancellation or for other reasons. Our entitlement shall also continue to exist if the contract is concluded at a later date or at other conditions or if a replacement business is concluded instead of the business offered by us, which with regard to its financial success replaces the originally intended business.

§ 7 Value added tax and maturity of the broker’s commission

The commission is to be paid respectively plus the applicable rate of value added tax.

The commission shall be due and payable when the contract is concluded. It is due and payable within 8 days after receipt of the invoice. In the event of default we are entitled to assert interest in the amount of 8 % above the respective base lending rate as damages on default. The assertion of further damages remains unaffected thereby, as well as the possibility of the broker’s customer to prove that we only suffered damages on default to a lesser extent.

§ 8 Notification of possible prior knowledge

If the broker’s customer was already aware of the opportunity to conclude a contract as proven by us, he shall inform us thereof within 10 calendar days by stating the reasons for his prior knowledge. If the broker’s customer culpably breaches this obligation he shall compensate us for the costs which would not have been incurred with the timely notification of his prior knowledge.

§ 9 Similar financial business

Our entitlement to commission shall not be lost due to the fact that a contract is concluded concerning the property at deviating conditions insofar as the financial results of the concluded contract essentially corresponds with the offer contents processed by us.

§ 10 Rights for inclusion and information

The trustworthy cooperation aimed at by us presumes that the broker’s customer sufficiently includes us in and informs us about contractual negotiations. Inclusion and information are the basis for a high-quality broker’s activity. Therefore, the broker’s customer shall inform us in time about the contents and the status of the contractual negotiations and in all cases make a copy of the concluded contract available to us immediately.

§ 11 Consequences of late information

We are dependent on information of our broker’s customer for the assertion of our broker’s fee. If a broker’s customer culpably does not inform us or not in time about the conclusion of a contract and if therefore we can only assert our claim for commission with delay then we can assert the damages suffered from this.

§ 12 Confidentiality of our offers and notifications

The unjustified forwarding of offers and notifications to third parties can enable the third party the objection of prior knowledge and thus prevent commission claims in an unfair manner. Our offers and notifications are therefore to be treated confidentially by the broker’s customer and may only be forwarded to third parties with our prior written consent. If this ban is culpably breached the broker’s customer shall owe the broker the commission charged based on this concluded contract.

§ 13 Activity for several contractual parties

We are entitled to also work for other contractual parties against payment if this does not result in any unreasonable loyalty conflict for the broker’s customer.

§ 14 The basis of our offers and information

We prepare or provide our offers and information to the best of our knowledge. As we are thus dependent on information of third parties, they are nevertheless without obligation and non-binding, in particular mistakes and the subsequent lapse of the conclusion condition through other interim business cannot be excluded. Therefore, we assume no liability for negligent behaviour.

Possible claims for damages are of course not excluded through this regulation insofar as this can be supported on wilful or grossly negligent behaviour. The liability is not restricted in the event of injury to life, body and health.

§ 15 Escape clause

With the above regulations we have made an effort to create a reasonable compensation of interests. Should nevertheless individual conditions of our business terms and conditions be or become invalid this shall have no effect on the validity of the other business terms and conditions.

§ 16 Place of performance and place of jurisdiction

The place of performance and place of jurisdiction – insofar as both contractual parties are merchants – is the registered seat of our company.