T & C\'s

Hereinafter, please find the General Terms and Conditions (GTC) of ÖRAG Immobilien West GmbH for the service Real Estate Brokerage:

Real Estate Brokerage

1. The present General Terms and Conditions (GTC) constitute an integral part of business relations of the company ÖRAG Immobilien West GmbH; in accordance with the Austrian Brokerage Act (Maklergesetz), they shall be deemed agreed upon between our company and the addressee of this letter. To the extent the following paragraphs refer to articles, such references relate to the respective provisions of the Austrian Brokerage Act.
2. In general, our offers with the information on the real estate property set forth therein which is conveyed to one or more interested parties on behalf of the principal is non-binding, i.e. subject to prior sale (rent or lease). The conveyance of information on a real estate property to an interested party shall not have a binding effect on the lessor or seller but shall constitute an invitation to the addresse to submit an offer to the lessor or seller for the lease or purchase of the real estate property. Therefore, our letters are in general non-binding as the lessor or seller usually offers the real estate property to several interested parties on the market at the same time.
3. In general, we receive the information from the lessor or seller relating to real estate property which we provide to an interested party. We fulfil our statutory information and verification obligations towards an interested party and are therefore, subject to fault, liable for any damages which the lessee or buyer incurs from the real estate property brokered by us and based on incorrect information which we provided.
4. The obligation to pay a brokerage fee shall occur and become due upon (1) our contractual and meritorious brokerage activity, and (2) the agreement (accomplishment and concurrence of will) to enter into a contract relating to the real estate property which we offered or with an interested party we introduced.
5. Any disclosure to third parties of real estate property offered by us or of an interested party introduced by us requires our prior approval. In the event that a contract 5.1 relating to real estate property we offered is concluded with a person which is not the addressee of our offer but with a person whom such addressee informed of such opportunity of the business deal; 5.2 is not concluded with the interested party introduced by us but with another party who was informed of such opportunity to enter into the contract by the same interested party, then such addressee of our offer or our introduction shall be liable for our statutory brokerage fee which we lost (Art 15 para 1 no 3).
6. To the same extent the addressee shall be liable for the statutory brokerage fee if the conclusion of the contract 6.1 is not effected, in bad faith, only for such reason because the addressee, contrary to the previous process of negotiations, omits without any notable reason a legal act necessary for the conclusion of the transaction (Art 15 para 1 no 1);
6.2 is not effected with the interested party introduced by us, but under the same conditions with another person who enters into the contract in place of the interested party introduced by us in exercising a statutory or contractual right of first refusal, a repurchase right or a right of subrogation (Art 15 para 1 no 4).
7. The addressee shall also be liable for the statutory brokerage fee, in the event that the interested person introduced by us concludes a different transaction (not a similar relating to the purpose of the transaction), in so far as the brokerage of the transaction falls within our field of activity (Art 15 para 1 no. 2). Our claim for the statutory brokerage fee relating to the conclusion of a similar transaction (equal relating to the purpose) to which we are entitled to in any case according to Art 6 para 3 shall remain unaffected through this provision.
8. In the event of a sole brokerage mandate our principal shall, furthermore, be liable for our statutory brokerage fee in the event that
8.1 the sole brokerage mandate is terminated prematurely by the principal without cause and in violation to the mandate;
8.2 the transaction is, during the term of our sole brokerage mandate, effected through another agent mandated, in violation to the agreement with us, by our principal; or
8.3 the transaction is, during the term of our sole brokerage mandate, effected in any other manner than by another agent mandated by our principal.
9. Only for entrepreneurs within the meaning of Austrian Commercial Code (UGB): The entrepreneur shall inform us immediately in the event that he already has knowledge of the offered property available for sale or lease, otherwise the submission of the offer by us shall be deemed accepted.
10. We reserve the right, for the purpose of initiating the transaction, at our choice to involve the services of a further licensed agent if this seems useful to increase the chances of brokerage of the property; neither the principal nor the interested party introduced will thereby be burdened with any additional costs.

CONSUMERS‘ RIGHT OF WITHDRAWAL:

11. In the event that our principal is a consumer within the meaning of the Austrian Consumer Protection Act (Konsumentenschutzgesetz) he may withdraw from non-face-to-face transactions (distant commerce and off-premises contract conclusions within the meaning of Fern- und Auswärtsgeschäfte-Gesetz, FAGG) within 14 days without giving reasons. The period begins on the day of conclusion of the contract. There is no right of withdrawal in the event we have commenced with the execution of the order prior to the expiry of the 14-day withdrawal period and have completely fulfilled the order (eg nomination of a business opportunity) – pursuant to the explicit request of the principal and confirmation by the principal about his awareness that he forfeits his right of withdrawal upon complete fulfilment of the contract. A proportionate brokerage fee must be paid if we have already performed our services partially prior to the declaration of withdrawal. Furthermore, the right of withdrawal does not exist, if the order was placed in our offices or if the business relationship with us was initiated by the addressee of the enclosed letter himself.
12. In the event that the principal is a consumer within the meaning of the Austrian Consumer Protection Act and provides a contractual statement relating to the acquisition of a lease right, other rights of use or ownership to an apartment, a single family house or a property suitable for building a single family house on the same day on which he inspected the property for the first time, then he may rescind his contractual statement, provided that the acquisition shall satisfy an urgent requirement of accommodation of the principal or of a close relative. The rescission may be declared within one week following the contractual statement of the principal (Art. 30a Austrian Consumer Protection Act). In the event that the rescission is declared vis-à-vis us, then the rescission shall also apply to the brokerage agreement concluded simultaneously with the contractual statement. The one-week period only commences once the principal has received a copy of his contractual statement and a written admonition relating to the right of rescission. However, the right of rescission ceases at the latest one month following the day of the first inspection of the property.
13. The declaration of withdrawal does not have any formal requirements. However, it is advised to use the provided withdrawal form.

LIABILITY:

14. Our liability for compensation for all property damages which the addressee or the interested party suffers during a visit of the property offered by us, in particular of a building site, shall be excluded, provided we have not caused these property damages by wilful misconduct or gross negligence. In particular, this disclaimer shall also apply to third parties who participate in the visit of the site upon the addressee’s or the interested person’s will.