General Terms and Conditions

These terms and conditions (“T&Cs”) take account of the provisions of the Regulation of the Federal Minister of Economic Affairs on Professional and Practice Rules for Real Estate Agents (IMV), Federal Law Gazette (BGBl.) No. 297/1996, and of the Brokers Act (MaklerG), BGBl. No. 262/1998, each as amended from time to time. These T&Cs form an integral part of the contract concluded between AKKADIA Immobilienvermittlung GmbH (“Agent”) and the client and are deemed agreed within the meaning of the aforementioned statutory bases. Insofar as the following T&Cs conflict with provisions of the IMV or the MaklerG, the T&Cs take precedence over those provisions. The remaining provisions of the IMV and the MaklerG as well as provisions based on individual agreement remain unaffected.

In accordance with established business practice, the Agent may act as a dual agent even without the express consent of the client and may thus act on behalf of both the seller (landlord) and the buyer (tenant).

Offers made by the Agent are subject to change and non-binding, and are subject to prior sale, prior letting and prior leasing.

All information is provided to the best of our knowledge and with the diligence of a prudent real estate agent. No liability is assumed and no warranty is given for the accuracy of information that is based on details provided by the persons entitled to dispose of a property.

If a property offered by us is already known to the client as being for sale, to let or to lease, we must be notified of this without delay (within 24 hours) in writing or in another verifiable manner. Otherwise, the submission of the offer is deemed accepted and gives rise to the obligation to pay commission.

The client shall support the Agent in good faith in the exercise of its brokerage activity and shall refrain from passing on business opportunities communicated to it. The client is obliged to provide the Agent with the necessary information, in particular regarding any change in its business intentions.

The client is obliged to pay a commission in the event that the transaction to be brokered is concluded with a third party as a result of the Agent's meritorious activity in accordance with the contract. The entitlement to commission and to reimbursement of additional expenses arises and becomes due upon the legal effectiveness of the brokered transaction. The entitlement to commission and the entitlement to reimbursement of additional expenses become due upon arising. The client undertakes to pay the commission in the event that it concludes the aforementioned transaction or a transaction equivalent in purpose with the prospective party named by the real estate agent. The Agent is also entitled to the commission if it has become meritorious in a manner other than by naming the party. Once the brokered contracting party has been named, the obligation to pay commission arises – irrespective of whether the brokered transaction is concluded with or without the intervention of the Agent and irrespective of when it is concluded.

Pursuant to § 7 MaklerG, the entitlement to commission arises upon the legal effectiveness (i.e. the meeting of minds or the fulfilment of any condition) of the brokered transaction, in the sense of the acceptance of a binding rental or purchase offer. If no binding offer is submitted but a rental or purchase agreement is concluded without the submission of an offer, the entitlement to commission likewise arises. The client undertakes to pay the commission in the event that it concludes the aforementioned transaction or a transaction equivalent in purpose with the prospective party named by the real estate agent.

The full entitlement to commission also arises: – if the contract is concluded on terms other than those of the offer. – if the contract is concluded for a different property with the contracting party introduced by the Agent. – if the brokered transaction is a transaction other than one equivalent in purpose and the brokering of the transaction falls within the Agent's scope of activity pursuant to § 15 para. 1 no. 2 MaklerG. – if and insofar as a contract for a transaction brokered by the Agent is extended or supplemented by contracts that are connected in time and economic terms (follow-on transaction), to the extent of the extension or supplement.

The entitlement to commission also remains in place if: – the transaction designated in the brokerage agreement fails to be concluded, contrary to good faith, solely because the client, contrary to the previous course of negotiations, omits without good reason a legal act required for the conclusion of the transaction; – the transaction designated in the brokerage agreement is concluded not with the client but with another person because the client has communicated to that person the opportunity to conclude the transaction made known to it by the Agent, or the transaction is concluded not with the third party introduced but with another person because the third party introduced has made the business opportunity known to that person, or – the transaction is not concluded with the third party introduced because a statutory or contractual right of pre-emption, repurchase or entry is exercised. Expenses incurred by the Agent as a result of additional instructions given to it by the client are to be remunerated separately, even if the intended legal transaction is not concluded. The Agent is also entitled to commission if, as a result of its activity, not the transaction to be brokered under the contract but a transaction economically equivalent to it in its purpose is concluded.

When granting a sole agency agreement, the client undertakes to inform the Agent of those persons who have approached the client directly during the term of the sole agency agreement. The Agent undertakes to use its best efforts. Payment of the commission is also agreed for the cases in which the client terminates the sole agency agreement prematurely in breach of contract without good cause, or in which the transaction is concluded during the term of the sole agency agreement, in breach of contract, through the brokerage of another agent instructed by the client or in any other manner.

The Agent may broker a contract that grants the client the time-limited right to bring about the transaction concerned by unilateral declaration (option agreement). Upon conclusion of the option agreement, 50 per cent of the commission agreed for the brokerage of the main transaction is payable. Upon exercise of the option right by the beneficiary, the remaining 50 per cent then becomes due.

AKKADIA Immobilienvermittlung GmbH reserves the right to engage the services of another brokerage firm for the purpose of initiating the legal transaction to be brokered, where this appears expedient to increase the prospects of brokerage. This does not give rise to any additional costs for either the client or the prospective party introduced to the client.

The commencement of written or personal business dealings constitutes acceptance of the foregoing terms and conditions.

The place of jurisdiction and place of performance is Vienna. The provisions of § 14 KSchG (Austrian Consumer Protection Act) remain unaffected.