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Terms and Conditions

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General Terms and Conditions for Real Estate Brokerage and Leasing




I UVODNE ODREDBE

The general terms and conditions regulate the business relationship between the entrepreneur, as a broker in real estate sales and leasing, and the principal (natural or legal person). By concluding the brokerage agreement or accepting these terms, the principal confirms that they are familiar with and agree to the provisions of the General Terms and Conditions for Real Estate Brokerage.

Brokerage is conducted based on a Brokerage Agreement concluded between the principal and the broker.

The principal may have Brokerage Agreements with multiple brokers simultaneously, except in the case of exclusive brokerage.

The buyer or tenant, in the role of the principal, is obligated to pay the brokerage fee to the broker who first enabled them to view the respective property, or who first introduced them to the property. In case the principal (buyer or tenant) viewed the property through another broker or on their own before the broker showed it to them, they are obligated to inform the broker, and if they fail to do so, it will be considered that the property was first viewed through the broker. The buyer or tenant, in the role of the principal, is required to sign a Property Viewing Confirmation with the broker immediately before viewing the property, confirming that they viewed the property through the broker.

If the buyer or tenant refuses to sign the Confirmation from the previous clause, the broker is not obligated to show them the property. If the broker shows the property to the buyer or tenant despite their refusal to sign the Property Viewing Confirmation, and the buyer or tenant, or their related parties, conclude a sales or lease agreement for the property, the fact that the buyer/tenant was connected to the seller or landlord by the broker will be proven by other means of evidence - witnesses, written or electronic documentation, SMS messages, and the like. The seller or landlord, in the role of the principal, is obligated to pay the brokerage fee to the broker who first connected them with the potential buyer or tenant. If the broker connects the principal (seller or landlord) with a person who has already viewed the property, the broker is obligated to inform the principal, and if they fail to do so, it will be considered that the principal was first connected with the potential buyer or tenant through the broker.

II OBLIGATIONS OF THE BROKER

The obligations of the broker are: - to conclude a brokerage agreement with the principal in written form;
- to endeavor to find and connect the principal with a person for the purpose of concluding a legal transaction;
- to provide the principal with an objective opinion on the price of the property or the amount of rent
for the property in accordance with its characteristics, market conditions, and other relevant circumstances;
- to review the documents proving ownership rights or other real rights on the property which is the subject of brokerage and to warn the principal especially about possible risks related to the registration of the property in the property registers, registered rights or encumbrances on the property, the existence of pre-emption rights and legal transaction restrictions in accordance with special regulations;
- to perform necessary actions to present the property on the market, to place an advertisement related to the sale or lease of the property in an appropriate manner, and to perform all other actions agreed upon in the brokerage agreement that exceed the usual presentation, for which the broker has the right to special, pre-disclosed costs;
- to enable the viewing of the property;
- to protect the personal data of the principal, and based on the written order of the principal, to keep as business secret the information about the property, related to its sale or lease, or related to the property itself, or the transaction for which they are brokering;
- to inform the principal about all circumstances significant for the transaction that are known to them;
- to mediate in negotiations and strive to conclude the contract;
- to attend and provide professional legal assistance regarding the drafting of the Pre-Contract/Contract for the sale of the property and other necessary documentation;
- to be present at the handover of the property.

It is considered that the broker has enabled the principal to establish a connection with another person (natural or legal) for negotiating the conclusion of a legal transaction if the principal is enabled to establish a connection with another person with whom they negotiated the conclusion of a legal transaction, especially if they have:
- directly taken or directed the principal or a third party to view the property in question;
- organized a meeting between the principal and the third party for negotiating the conclusion of the legal transaction;
- informed the principal of the name, phone number, fax number, or email address of the third party interested in concluding the legal transaction, or if they have provided the exact location of the desired property.

III RIGHTS OF THE BROKER

The broker has the right to, with the consent of the principal with whom the Brokerage Agreement is concluded, photograph and record a video of the property. The broker may use the photographs and video exclusively for the purpose of marketing presentation of the property.

The broker has the right to, in written or electronic form, conclude a Sub-brokerage Agreement, by which they will fully or partially transfer their rights and obligations from the Brokerage Agreement to another broker, if the principal has explicitly agreed to this in the Brokerage Agreement.

The broker is obliged to provide the principal with a copy of the Sub-brokerage Agreement within five days from the day of concluding the Sub-brokerage Agreement.

The broker has the right to issue an invoice to the principal for the performed services, in accordance with the concluded Brokerage Agreement and these General Terms and Conditions.

IV OBLIGATIONS OF THE PRINCIPAL

The obligations of the principal are:
- to inform the broker about all circumstances relevant for the brokerage activity;
- to provide the broker with original documents proving their right to the property that is the subject of the transaction, or to inform the broker of all registered and unregistered encumbrances on the property;
- to ensure that the broker and the person interested in concluding the legal transaction can view the property in the agreed manner and at the agreed time;
- to inform the broker of all essential information about the property, which especially includes accurate information about the price, structure, etc.;
- to pay the broker the agreed brokerage fee, and if specifically agreed, to reimburse the broker for other costs incurred during the brokerage process;
- to inform the broker in writing about all changes related to the brokered transaction, especially regarding rights to the property, deadlines, and price, all within three days of the change;
- to immediately inform the broker if a person who viewed the property through the broker shows interest in concluding a pre-contract/contract for the sale of the property, leasing the property, or any other legal transaction resulting from the broker's work without the broker's involvement;
- to pay the broker the agreed brokerage fee in full, as stipulated in the Brokerage Agreement, even if the other party or a related party of the other party is also a client of the broker.

V EXCLUSIVE BROKERAGE

The principal may commit, by explicitly agreeing to the clause of exclusive brokerage, that within the agreed period they will not personally sell the property that is the subject of the Brokerage Agreement, nor will they engage another broker for brokerage related to its sale.

If during the validity of the exclusive brokerage clause the principal concludes a legal transaction related to the subject property, for which another broker mediated or personally, without the mediation of any broker, they are obliged to pay the broker with whom they agreed on exclusive brokerage the amount of the agreed brokerage fee as compensation for damages.

The broker is obliged to specifically warn the principal in the Brokerage Agreement about the meaning and legal consequences of the exclusive brokerage clause.

YOUR ENTITLEMENT TO BROKERAGE FEE

The broker is entitled to a brokerage fee on the day of the pre-contract/contract notarization for the real estate for which the broker has mediated, and at the latest within fifteen days from the date of notarization of the real estate purchase contract.

The broker cannot demand partial payment of the brokerage commission in advance, or before the conclusion of the pre-contract or contract for which they have mediated, all in accordance with the previous provision. The amount of the brokerage fee, or the method of determining the brokerage fee amount, as well as the type and amount of costs for additional broker services, are determined by the Brokerage Services Price List, which is an integral part of these General Terms and Conditions.

The broker may contract the right to compensation for additional costs necessary for the execution of the order, regardless of the success of the mediation, and may request advance payment of funds for certain expenses if expressly stated in the mediation contract.

The broker is entitled to a brokerage fee if the spouse, or unmarried partner, descendant, parent, or any other related person, with whom the broker has connected the principal, concludes the mediated legal transaction.

If, after the termination of the mediation contract due to the principal's termination, and within a period not exceeding one month from the termination of the contract, the principal concludes a legal transaction that is a direct result of the broker's mediation before the termination of the mediation contract, they are obliged to pay the broker the agreed brokerage fee in full, unless otherwise agreed in the mediation contract.

Under the conditions and within the period specified in the previous paragraph, if the principal concludes a legal transaction that is significantly a result of the broker's mediation before the termination of the mediation contract, they are obliged to pay the broker a proportional brokerage fee, unless otherwise agreed in the mediation contract.

The broker or sub-broker is not entitled to a fee for mediation if, on their behalf, as a contracting party, they conclude a contract that is the subject of mediation with the principal, or if such a contract is concluded with the principal by a person who performs mediation activities on behalf of the broker or sub-broker.

The principal bears the costs of obtaining the necessary documentation proving ownership of the relevant real estate (Extract from the Cadastre and the like), which is necessary for the turnover of the subject real estate, unless otherwise agreed in the Mediation Agreement.

The broker has the right to grant a discount to the principal on the brokerage fee amount.

VII LIABILITY FOR DAMAGES

The broker, in performing mediation or other actions related to the business that is the subject of mediation, must act with the care of a prudent businessman.

The broker is liable to the principal in accordance with the Law for damages resulting from non-fulfillment of contractual obligations undertaken by the Mediation Agreement and specified in these General Terms and Conditions by the broker.

The broker is not responsible for the performance of obligations of any of the contracting parties in the transaction, which they mutually undertook in the concluded pre-contract/real estate purchase contract.

The broker is not responsible for the quality of the real estate being traded, nor for hidden defects (except if the seller has informed them in writing that the real estate has a hidden defect, and they concealed that information from the buyer).

VIII FINAL PROVISION

For relationships between the principal and the broker that are not regulated by these General Terms and Conditions and are not contracted in the mediation agreement, the provisions of the Law regulating this area and the Law on Obligations apply.

NOTE:

- Everything not provided for in this Price List is directly negotiated with the responsible person of the broker.
- The principal will negotiate with the broker, orally or in writing, regarding the amount of compensation for additional services that the broker performs for the principal, depending on the type and scope of the work.
- In accordance with Article 34 of the Foreign Exchange Operations Law, payment for all services is made exclusively in dinars at the appropriate exchange rate on the day of payment.

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