Business and commission terms

Our business and commission terms, on which all real estate offerings are based:

1. Our offers and details are subject to change and given in good faith but without guarantee, for accuracy. Remains subject to being unsold and interim tenancy. Our offers are confidential and may not be disclosed without our prior consent.

2. If the interested party is already aware of the named property through us, the interested party must inform us. If the interested party does not comply with this term, and in the meantime uses our service claim, the interested party remains liable for commission.

3. The price referred to in the offer letter for a property (rent, purchase price, etc.) is just a guideline, and is therefore non-binding. The right to commission is also retained if the final contracted parties have agreed a higher or lower asking price for the property that deviates from the initial price quoted by us. The amount of commission depends on the actual final price agreed.

4. A commission is payable by the purchasing party to us. In the case that the purchasing party does not, then a family member, or other economically connected person, must conclude the agreement on behalf of the purchasing party.

5. A net commission of the contracting entity also arises if, in the subsequent period, the economically equivalent contracts (so-called. subsequent contracts) between the parties are completed by us. The commission obligation is not affected if the conclusion of the contract takes place at a later time, or on different terms, in-so-far as the same economic value is achieved.

6. In the event of a breach of contract on the part of our client, or by an informed, prospective client of ours, we reserve the right to assert claims commission.

7. Our fee is payable irrespective of regulatory or court approvals dictated in the contract. The claim for remuneration is not dependent on the performance of the contract. Our client is obliged to provide us with a copy of the contract mediated through us, after the contract is finalised.

8. Our estate agents fee, without prejudice to any commission we receive or agree with the other party, and to the agreement for which we are entitled (dual action), is:
a) Minimum 3.57% of the purchase price, incl. VAT, on detection or placement of households, land and condos located in Germany, and minimum 3.51% for those located in Luxembourg;
b) Minimum 3.57% of the sales prices, incl. VAT, based on the evidence or mediation of foreclosure properties in Germany, and minimum 3.51% for those located in Luxembourg;
c) 1% commission of the operations amount of the loan or mortgage to be paid to us, payable by the borrower and incl. VAT, for the referral of mortgages or land charges. The commission is due upon signing of the contract between lender (bank, savings bank, insurance company or mortgage bank), and the borrower or owner of the land affected by the mortgage land;
d) Minimum 3.57% commission when mediating or locating rental or lease agreements for commercial properties located in Germany, and minimum 3.51% in Luxembourg for each year, incl. VAT, for a minimum of at least five years and a maximum of ten years' duration. Also included in the annual income are other monetary contributions, with the exception of the additional costs, incl. VAT. The exercise of an option is considered to be part of the agreed rental period;
e) 2.38 of monthly rental fee, incl. VAT, for finding and leasing living quarters in Germany, and 1.17 months rents incl. VAT for leasing living quarters in Luxembourg;
f) A flat fee in the amount of €150.00 each, incl. VAT, for the acceptance or transfer negotiations for residential and commercial spaces per order;
g) For the procurement of property documents (e.g. through notary, authorities, etc.) that require us to pay fees;
h) Each usual commission incl. VAT applies to properties located in other countries.

9. If the client abandons its sales / rental purpose during the contract period, the client is liable to refund the expenses recorded by us, in terms of material costs (exposé / postage / telephone / travel costs), in addition to a fee of 10% of the agreed commission. The client is at liberty to prove that the actual expenditure was less than the lump sum.

10. In the case of an order for the executed copy of a lease, whether private tenancy or commercial lease is accepted, we will have no liability. Our liability is limited, moreover, to gross negligence or wilful misconduct, provided that the client does not suffer personal injury through our behaviour, or lose his life.

11. The photos created by us, plans, etc., are copyrighted and may not be used or given to any third party without our written consent. The right of use does not end with the brokerage contract.

12. For merchants, as defined by the Commercial Code, and legal persons, Luxembourg has exclusive jurisdiction. For all other the respective residences, the place of the competent court has jurisdiction. In cases of dispute, German law shall prevail.

Erlo S.A. - Immobilien in der Region Luxemburg, Esch-sur-Alzette, Mersch, Junglinster, Echternach, Grevenmacher, Remich, Konz, Saarburg, Perl, Mettlach, Merzig ...