SONJA ARSOVIĆ PR AGENCIJA ZA NEKRETNINE 4 FAMILY BEOGRAD

Vladimira Popovića 38, Belgrade

Registration Number: 68240352; TIN: 115279257

Tel: 064/199-01-99; E-mail: 4familyrealestate@gmail.com

Registered Broker Number: 2067

GENERAL TERMS AND CONDITIONS OF THE REAL ESTATE BROKER IN REAL ESTATE TRANSACTIONS AND LEASING

I INTRODUCTORY PROVISIONS 

These General Terms and Conditions govern the business relationship between the entrepreneur, operating as a broker in real estate transactions and leasing, and the principal (a natural person or legal entity).

By entering into a brokerage agreement, or by accepting these terms, the principal confirms that they are familiar with and agree to the provisions of the General Terms and Conditions of the real estate broker.

Brokerage activities are performed on the basis of a Brokerage Agreement concluded between the principal and the broker. The principal may conclude Brokerage Agreements with multiple brokers simultaneously, except where an exclusive brokerage agreement has been concluded.

A prospective buyer or tenant acting as a principal is obliged to pay the brokerage fee to the broker who first arranged for them to view the respective property, or who first introduced them to the respective property. If the principal (prospective buyer or tenant) had already viewed the respective property through another broker or independently before the broker showed it to them, they are obliged to inform the broker accordingly. If they fail to do so, they shall be deemed to have viewed the property for the first time through the services of that broker.

A prospective buyer or tenant acting as a principal is obliged to sign a Property Viewing Confirmation provided by the broker immediately prior to viewing the property, confirming that they are viewing the respective property through the services of that broker.

If the prospective buyer or tenant refuses to sign the Confirmation mentioned in the previous paragraph, the broker is not obligated to show them the respective property. If the broker shows the property to the prospective buyer or tenant despite their refusal to sign the Property Viewing Confirmation, and the buyer, tenant, or any related parties conclude a Transaction or Lease Agreement concerning the respective property, the fact that the broker introduced the prospective buyer/tenant into contact with the seller or landlord may be established by other means of evidence – witness statements, written or electronic documentation, text messages, and similar means.

A seller or landlord acting as a principal is obliged to pay the brokerage fee to the broker who first introduced them to a prospective buyer or tenant. In the event that the broker introduces a person to the principal (seller or landlord) who has already viewed the respective property, the principal is obliged to inform the broker thereof. If they fail to do so, the principal shall be deemed to have been introduced to the prospective buyer or tenant for the first time through the services of that broker.

II OBLIGATIONS OF THE BROKER 

The obligations of the broker are:

•             to conclude a brokerage agreement with the principal in writing;

•             to endeavor to find a party and bring that party into contact with the principal for the purpose of concluding a legal transaction;

•             to provide the principal with an objective assessment of the property’s price or rental amount, based on its characteristics, market conditions, and other relevant circumstances;

•             to review the documents evidencing ownership or other property rights in the real estate that is the subject of the brokerage, and to specifically warn the principal of any potential risks relating to the registration of the respective property in the real estate registers, registered rights or encumbrances affecting the property, the existence of a right of first refusal, and restrictions on legal transactions in accordance with special regulations;

•             to take the necessary steps to present the property on the market, to advertise the sale or lease of the property in an appropriate manner, and to carry out any and all other actions agreed upon in the brokerage agreement that go beyond a standard presentation of the property, for which the broker is entitled to additional costs disclosed in advance;

•             to arrange for the property to be viewed;

•             to protect the principal’s personal data and, upon obtaining the principal’s written instructions, to keep information concerning the property, its sale or lease, or the transaction itself confidential;

•             to inform the principal of any known circumstances relevant to the transaction;

•             to mediate in negotiations and endeavor to facilitate the conclusion of a contract;

•             to be present and arrange for professional legal assistance by an attorney in connection with the drafting of the Preliminary Agreement / Agreement for the Sale and Purchase of Real Estate, and other necessary documentation;

•             to be present at the formal handover of the property.

The broker shall be deemed to have enabled the principal to establish contact with another party (a natural person or legal entity) for the purpose of negotiating the conclusion of a legal transaction if the principal has been put in contact with another person with whom they negotiated the conclusion of such a legal transaction, and in particular, if the broker has:

•             personally accompanied or directed the principal or a third party to view the respective property;

•             arranged a meeting between the principal and a third party for the purpose of negotiating the conclusion of a legal transaction;

•             provided the principal with the name, telephone number, fax number, or email address of a third party interested in concluding a legal transaction, or informed the principal of the exact location of the requested property.

III RIGHTS OF THE BROKER 

With the consent of the principal with whom a Brokerage Agreement has been concluded, the broker has the right to take photographs and video recordings of the property. The broker may use the photographs and video recordings exclusively for the purpose of marketing and presenting the respective property.

The broker may conclude a Sub-brokerage Agreement in writing or electronic form, under which the broker may transfer the rights and obligations arising from the Brokerage Agreement, in whole or in part, to another broker, provided that the principal has expressly consented to this in the Brokerage Agreement. The broker is obliged to provide a copy of the Sub-brokerage Agreement to the principal within five days from the date of its conclusion.

The broker is entitled to issue the principal an invoice for the services provided, 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 of all circumstances relevant to the performance of the brokerage services;

•             to provide the broker with the original documents proving their rights in the property that is the subject of the transaction, and to notify the broker of all registered and unregistered encumbrances affecting the property;

•             to ensure that the broker and the party interested in concluding the legal transaction are able to view the property in the agreed manner and at the agreed time;

•             to provide the broker with all material information about the property, including, in particular, accurate information concerning the price, structure, etc.;

•             to pay the broker the agreed brokerage fee, and if specifically agreed, to reimburse the broker for other expenses incurred during the brokerage process;

•             to notify the broker in writing of all changes relating to the brokered transaction, particularly changes concerning property rights, deadlines, and the price, within three days of the occurrence of such change;

•             to immediately inform the broker if a party who viewed the property through the broker has expressed interest in concluding a preliminary agreement/agreement for the purchase, sale, or lease of the property, or in carrying out any other legal transaction without the broker, as a result of the broker’s work;

•             to pay the broker the agreed brokerage fee in the full amount specified in the Brokerage Agreement, even if the other party or a party related to the other party is also a principal of the broker.

V EXCLUSIVE BROKERAGE 

The principal may undertake, by expressly agreeing to an exclusive brokerage clause, not to personally dispose of the property that is the subject of the Brokerage Agreement during the agreed period, or to engage any other broker to provide brokerage services in connection with a transaction involving the property.

If, during the term of the exclusive brokerage clause, the principal concludes a legal transaction involving the respective property through the mediation of another broker, or concludes such a transaction 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 inform the principal in the Brokerage Agreement about the meaning and legal consequences of the exclusive brokerage clause.

VI REALIZATION OF THE RIGHT TO BROKERAGE FEE 

The broker becomes entitled to the brokerage fee on the date of notarization of the Preliminary Agreement/Agreement for the Sale and Purchase of Real Estate in respect of which the broker provided brokerage services, and no later than fifteen days from the date of notarization of the Agreement for the Sale and Purchase of Real Estate.

The broker may not require partial payment of the brokerage fee in advance, i.e., prior to the conclusion of the Preliminary Agreement or Agreement in respect of which the broker provided brokerage services, in accordance with the preceding paragraph.

The amount of the brokerage fee, or the method for determining the amount of the brokerage fee, as well as the type and amount of the costs of the broker’s additional services, are specified in the Brokerage Services Price List, which forms an integral part of these General Terms and Conditions.

The broker agree on the right to reimbursement of additional costs necessary for the performance of the engagement, regardless of the outcome of the brokerage, and may require funds for certain expenses to be paid in advance, provided that this is explicitly stated in the Brokerage Agreement.

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

If, following the termination of the Brokerage Agreement by notice given by the principal, and within a period not exceeding one month from the date of termination, the principal concludes a legal transaction that is a direct consequence of the broker’s mediation before the termination of the agreement, the principal is obliged to pay the broker the agreed brokerage fee in full, unless otherwise agreed in the brokerage agreement.

If, under the conditions and within the period specified in the preceding paragraph, the principal concludes a legal transaction that is substantially the result of the broker’s mediation prior to the termination of the brokerage agreement, they are obliged to pay the broker a proportionate brokerage fee, unless otherwise agreed in the brokerage agreement.

The broker or sub-broker is not entitled to a brokerage fee if they conclude the Agreement that is the subject of the brokerage as a contracting party in their own name, or if such an Agreement is concluded with the principal by a person who performs brokerage activities on behalf of the broker or sub-broker.

The costs of obtaining the necessary documentation proving ownership of the respective property (excerpts from the real estate cadaster and the like), which is required for a transaction involving the property, shall be borne by the principal, unless otherwise agreed in the Brokerage Agreement.

The broker may grant the principal a discount on the brokerage fee.

VII LIABILITY FOR DAMAGES 

In providing the brokerage service services or performing other actions related to the business transaction that is the subject of the brokerage, the broker must act with the due care of a prudent businessperson.

The broker shall be liable to the principal, in accordance with the Law, for damages resulting from the broker’s failure to fulfil the contractual obligations undertaken under the Brokerage Agreement and set out in these General Terms and Conditions.

The broker shall not be responsible for the performance by either contracting party of the obligations they have undertaken towards each other under the concluded Preliminary Agreement/Agreement for the Sale and Purchase of Real Estate.

The broker shall not be responsible for the quality of the real estate that is the subject of the transaction or for any hidden defects (except where the seller has informed the broker in writing that the property has a hidden defect, and the broker has concealed that information from the buyer).

VIII FINAL PROVISIONS 

Any matters between the principal and the broker that are not regulated by these General Terms and Conditions or agreed upon in the Brokerage Agreement, the provisions of the Law governing this field and the Law on Obligations shall apply.