Terms of Service
GENERAL TERMS AND CONDITIONS
VALA ESTATE d.o.o., Estate Agency
51511 Malinska, Jaz 1
OIB (personal identification number): 69653293505
I. General Provisions
These Terms and Conditions of the Estate Agent (hereinafter: General Terms and Conditions) shall regulate the business relationship between the Estate Agency (hereinafter: the Agency) and a natural and/or legal person (hereinafter: the Client) entering into a Brokerage Agreement with the Estate Agent. The General Terms and Conditions constitute an integral part of this Brokerage Agreement.
For the purpose of these General Terms and Conditions certain terms and names will have the following meanings:
Estate Agent - Estate Agency VALA ESTATE d.o.o. from Malinska, Jaz 1.
1. Real Estate Brokerage describes all actions by the Estate Agent aiming at connecting the Client with the Third Party, and consequently, conducting negotiations and carrying out preparatory work in relation to legal transactions dealing with a particular Real Estate as their subject matter, and thus especially in the context of buying, selling, swapping, renting, leasing, etc.
Real Estate generally stands for parcels of the earth’s surface together with everything that is permanently affixed to land on or below the earth’s surface, pursuant to the provisions of the Act on Ownership and Other Real Rights.
Client means any natural and/or legal person, who has entered into the Brokerage Agreement with the Estate Agent (seller, buyer, lessee, lessor, landlord, tenant and other possible participants involved in a real estate deal).
Third Party means the person, who the Estate Agent seeks to connect with the Client for the purpose of negotiating and consequently concluding legal transactions dealing with a particular Real Estate as their subject matter.
Commission Fee is the amount of money that the Client is obliged to pay to the Estate Agent for his/her brokerage services.
II. Real Estate Offer
The Real Estate Offer of the Estate Agency VALA ESTATE d.o.o. is based on the data received in writing or orally by the Client, that is, the Seller. The Estate Agent does not provide any guarantee in regard to the accuracy of the data referring to the Real Estate description and/or price, as mistakes may occur due to provision of incorrect data or changes in sales conditions on behalf of the Seller. Furthermore, the advertised property may have already been sold or the Owner may have given up the sale without informing the Estate Agency. Offers and notices must be kept confidential by the Recipient (Client - Buyer) and may be passed to the Third Party only upon written approval by the Estate Agency VALA ESTATE d.o.o. If the Recipient of the offer is already familiar with the Real Estate proposed to him by the Estate Agency, he shall inform the Agency about this fact without delay.
III. Real Estate Brokerage Agreement
(1) By the Brokerage Agreement (hereinafter: the Agreement) VALA ESTATE d.o.o. (Estate Agent) undertakes to try to find the Third Party and bring her into contact with the Client with the aim of negotiating and concluding a certain legal transaction related to the transfer or establishment of a certain right on the Real Estate, and the Client undertakes to pay to the Estate Agent a certain amount of Commission Fee in case the legal transaction is concluded.
(2) The Agreement shall be concluded in writing for an indefinite period of time. The Agreement is considered concluded when signed by both Parties.
(3) The provisions of the Obligatory Law, General Part, shall apply to the contractual relationship between the Agent and the Client.
IV. Termination of the Brokerage Agreement
If the Contracting Parties do not determine the duration of the Agreement, it shall be deemed that the Agreement has been concluded for an indefinite period of time. The Client may terminate the Agreement at any time, provided that the revocation is not contrary to the principle of good faith. The Agreement may not be cancelled at an inappropriate time with the intention of depriving the Agent of his right to compensation and causing him damage. If during the duration of the Agreement, or after its revocation and prior to the expiry of two years, the Client concludes a legal transaction with a person to whom he/she was introduced by the Agent, or if he/she concludes a legal transaction through another Broker, who introduced him to the Third Party after the Agent, it shall be deemed that he/she has acted without diligence (in terms of Article 12 of the Civil Obligations Act), and he/she shall be obliged to pay the full amount of the Commission Fee to the Agent. The Client shall also reimburse the Agent for all the costs incurred in case it was explicitly agreed that the Client would cover those costs separately. Should the Client upon the termination of the Agreement, yet within a timeframe not exceeding its original duration, conclude a legal transaction, which is mainly the consequence of the actions the Agent took prior to the termination of the Agreement, the Client shall be obliged to pay the Agent in full.
V. Agency’s Obligations (Estate Agent’s obligations)
While acting as an intermediary, with the aim of facilitating the conclusion of a purchase/tenancy/lease agreement, the Agent shall do as follows:
1. He/she shall try to find and bring into contact with the Client a legal or a natural person with the aim of concluding a deal.
2. He /she shall inform the Client about the average market price of similar real estates.
3. He /she shall inspect the documents referring to the respective Real Estate, check the ownership and/or other rights in rem and warn the Client of:
• the obvious shortcomings and possible risks related to the unregulated status of the Real Estate in the land register,
• the registered rights in rem or other third-party rights on the Real Estate,
• the legal consequences of non-compliance with third-party rights,
• the shortcomings in relation to the building permit and certificate of occupancy in accordance with respective laws,
• the circumstances and restrictions applying to real estate transactions in accordance with respective regulations, and shall
4. Do everything that is necessary for the presentation of the respective Real Estate on the market, advertise the property in an appropriate manner, and perform all other actions agreed in the Brokerage Agreement that exceed the usual presentation, for which the Agent is entitled to charge additional, predetermined costs.
5. Enable Buyers to view the Real Estate.
6. Act as an intermediary during the negotiations with the aim of facilitating the conclusion of an agreement, if he has specifically committed to it.
7. Keep the Client’s personal data stored and, according to the written order of the Client, he/she shall also keep confidential the data on or in relation to the respective Real Estate or business operation he is involved in as an intermediary.
8. If the subject matter of the Agreement is a plot of land, check the purpose of the land in question, in compliance with the regulations on spatial planning applying to it.
9. Inform the Client of all the circumstances he is or should be familiar with, and which are relevant for the intended business operation.
10. Familiarize the Client with the provisions of the Croatian Anti-Money Laundering and Terrorist Financing Law.
VI. Client’s Obligations
By signing the Brokerage Agreement with the Agency, the Client undertakes the following obligations:
1. To inform the Agent about all the circumstances that are relevant for the brokerage and to provide accurate information about the property; if in possession of a site permit, construction permit and/or certificate of occupancy for the respective property, which is the subject matter of the Brokerage Agreement, to allow the Agent to inspect those documents as well as other documents confirming fulfilment of obligations towards the Third Party.
2. To provide the Agent with the documents which prove his ownership or another right in rem on the respective Real Estate, which is the subject of this Agreement, and warn the Agent about all registered and unregistered encumbrances that exist on the Real Estate.
3. To enable the Agent and the Third Party that is interested in concluding the proposed deal to view the property.
4. To inform the Agent about all the relevant data on the requested property, which in the first line includes the description of the property and the price.
5. To pay Commission Fee to the Agent when signing the Preliminary Agreement or the final Purchase Agreement.
6. To reimburse the Agent for the expenses incurred in the process of brokerage, which exceed the usual costs.
7. To inform the Agent in writing about all the changes related to the job for which he has hired him/her, and especially about the changes related to the ownership of the respective Real Estate.
The Client is not obliged to enter into negotiations with the Third Party proposed by the Agent, nor is he/she obliged to enter into a legal arrangement. The Client shall be held liable for the damage if he/she did not act in good faith, and he/she shall be obliged to reimburse the Agent for all the costs incurred in the course of brokerage, however, those costs may not exceed the agreed compensation.
The Client shall be liable for damage if he/she acted fraudulently and if he/she failed to provide or provided incorrect information that was of relevance for the Agent in order to complete the brokerage business.
VII. Commission Fee
The Agency is entitled to the full amount of the Commission Fee upon the conclusion of the mediated transaction (signing of the Preliminary Agreement or the final Purchase Agreement by which the Client has obliged himself/herself to conclude the mediated legal transaction). The Commission Fee is to be paid to the Agency at the moment of signing or immediately after the conclusion of the legal transaction for which it was hired.
A legal transaction is considered concluded when the Client and the Third Party have agreed on the subject matter of the Agreement and the price, i.e., at the time of the conclusion of the Purchase Agreement or Preliminary Agreement or after a deposit has been made for the purpose of the mediated legal transaction. According to these conditions, the mediated legal transaction also exists if the Client has signed the Purchase Agreement or the Preliminary Agreement and/or if he/she has made an advance payment to the Third Party, with whom he/she was brought into contact through the Agent, when the Real Estate is owned by the Third Party or his family members, even though they were not explicitly mentioned in the Brokerage Agreement.
The Commission Fee includes all costs incurred by the VALA ESTATE d.o.o. Agency in the course of its real estate brokerage activity. This however does not apply to additional costs in the event that the Agency has agreed the provision of additional services with the Client, whereas the respective services even though related to the agreed real estate brokerage activities, do not fall within the standard scope of services provided.
The amount of the Commission Fee is determined by the Brokerage Agreement. VAT is not included in the price.
VALA ESTATE d.o.o. PRICE LIST:
Buying and Selling
The Commission Fee is charged as a percentage of the total amount of the purchase price achieved.
In the process of sale, the Commission Fee is charged to the Seller (3% and in any case not less than 9,000.00 KN)
In the process of purchase, the Commission Fee is charged to the Buyer (3% and in any case not less than 9,000.00 KN)
The Commission Fee is charged to the Buyer if previously so agreed or if the Agent has received a written or oral order from the Buyer to search for an appropriate property on his behalf.
In the event of swapping Real Estates, both parties involved in the process will be charged Commission Fee, and the percentage amounting to 3% shall be calculated based of the value of the acquired property.
VIII. Cooperation with Other Agencies
VALA ESTATE d.o.o. Estate Agency is open for cooperation with other estate agencies that respect fundamental ethical principles (which exclude false presentation of business data and disparagement of other agencies in order to obtain business and/or clients, unrealistic real estate appraisals with the aim of concluding brokerage agreements and removing other agencies from the market, as well as appearing in the media with the intention of personal promotion to the detriment of other agencies).
IX. General Provisions and Dispute Resolution
In terms of relations between the Client and the Agency, which arise from the Brokerage Agreement and are not regulated by these General Terms and Conditions or the Brokerage Agreement, the provisions of the Real Estate Brokerage Act and the Civil Obligations Act shall apply. Should any disputes arise, the competent court in Krk shall have exclusive jurisdiction.
VALA ESTATE d.o.o. Estate Agency