Terms of Business and Cancellation Policy

Please note: As from June 1st, 2015, the German rental law for residential property - flats and houses one wants to rent - has changed. The rental property advertised by the agents is commissioned for by the one who orders the agent. (So-called "Bestellerprinzip". That means any rental residential flat or house for rent which you find here on our websites www.allgrund.com or www.allgrund.de or www.frankfurtrentals.de is commission-free for the tenant who wants to rent it.

Note: This does not apply for sales offers. The sales commission to be paid by a buyer has not been affected by that law change.

General terms and conditions of business

1. Offers
Our offers are based on the information given to us by sellers, thus we are not assuming liability for it. Nevertless we are giving our best in putting all the right information together in our offers. They are subject to change and noncommittal. Misapprehensions, prior sale or interim letting remain excepted.

2. Passing offers to third parties
Our offers and messages are bound to be only for the recipient (client) personally and are to be treated confidentially and may not be handed on to third parties. Shall a contract be made as a result of unpermitted handing on of the information, the client is obliged to pay damages to us – the same amount that would have been due in case of a successful deal.

3. Previous knowledge
In case the client already knows the offer we are referring to, he is obliged to tell us about it as fast as possible – including the source of his information. Otherwise the commission agreed upon has to be paid at the time of completion of a contract of sale of the referred offer in any case.

4. Accrued commission
Our accrued commission sets in as soon as a contract concerning one of the objects we arranged has been brought about by our brokerage. This is also valid in the case of co-causation.
In case the contract gets completed under different terms than the ones agreed upon originally, or in case it gets made for a different object from the contracting party we referred to, this does not affect our accrued commission – as long as the accomplished deal is economically identical with ours or only departs marginally from the deal offered.
The same holds true in case a different contract than the original one gets made (e.g. purchase instead of rental, building lease instead of purchase).
The accrued commission is also due when the contract gets done with another party who has a close personal or distinct commercial relationship with the client. Accrued commission also exists when the client does not acquire the object by himself but in a partnership with others or when he is finding this object for others.

5. Calculation base of the commission
The commission is designated for each single object and is charged based on the sales price published by us. In case the sales price gets reduced as a result of a sales negotiation between the seller and the prospective buyer, the accrued commission will be calculated based on the purchase price which is in the sales contract. Usually the buyer has to pay the commission, unless another agreement was made in written form.

6. Legal basis of the commission
The accrued commission is reasoned by § 653 BGB (German Code of Civil Law).

7. Guarantee for the information
The information comes from the owner. No guarantee can be taken for its validity.

8. Due date of the commission
Our commission is due at the completion of the main agreement. The commission is due immediately upon completion of the contract and without any deduction. In case of default, default interest at a rate of at least 4% above the key interest rate of the German Central Bank becomes due.

9. Offers given to us for marketing of objects to sell or rent
Its a fundamental rule that for any properties offered to us for advertisement the offering person or company (owner, landlord, builder and so on) has to make sure to give us careful particulars regarding living and other usage areas, size of land, year of construction, condition of the building or property, and possible deficiencies or repairs to be made. Especially the informations given regarding living and usage space must be verified and if needed newly calculated if no reliable informations are available. Any cost involved with this are to be borne by the offering owner, landlord or builder. AllGrund Ltd. does not take over any liability or warranty for the correctness of such informations.

10. Cancellation policy
Revocation (Cancellation of contract) Instructions: The client may cancel his contract within 14 days without giving a reason in written text form (e.g. letter, fax, e-mail). The period begins upon receipt of these instructions in text form, however not prior to conclusion of the contract. In order to maintain the cancellation period it is sufficient to send the revocation to AllGrund Ltd., Immanuel-Kant-Straße 35, 63303 Dreieich or fax to 06103/8073755 or e-mail to service@allgrund.com.
After proper cancellation all payments already made are immediately, at the latest within fourteen days of receipt of the revocation, refunded to the client. The client will not be charged a fee for this refund.

11. Contract for Services Rendered Before the Expiry of the Revocation Period
By signing this contract (i.e. asking for the address of the property or insisting on visiting it before the 14 days after receiving this cancellation policy) the client expressly instructs the agent to begin his services before the end of the cancellation period. The client is herewith informed of this and agrees that in the event of cancellation of the contract the client agrees that he/she is to pay a fee appropriate and in alignment with market rates for services rendered up to the revocation period, which corresponds to the portion of the service already provided as part of the overall scope of the contracted services. If proof is provided by agent to client of an opportunity for the conclusion or negotiation of a contract for buying property, this corresponds to – is equal to - the total amount of services delivered. In other words: Before you ask to see a property offer physically or by getting the address, be aware that you declare the waive your right to cancel the agency contract later!

12. Cancellation of Revocation Right With Services Fully Rendered
The client is aware that his 14-day right of revocation as set forth in paragraph 11 of this Agreement expires as soon as we have rendered the contracted services fully and properly.

13. Place of fulfillment and Court of jurisdiction
Place of fulfillment and court of jurisdiction is Offenbach am Main in Germany.

Download as PDF Terms of Business and Right to Revoke in English

 

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Copyright © 1997-2015 by AllGrund Ltd. All rights reserved. Content, design and concept are intellectual property of AllGrund Ltd. and protected by international copyright law. AllGrund is a registered trademark ® with the registered number 302008004170 Deutsches Patent- und Markenamt in Munich and an Internationally Registered Trade Mark ™ registered at the World Intellectual Property Organization in Geneva with the international registation No. 978744. No parts of this website and no photos or other material may be copied, printed and used without permission of the website owner. Print versions of property descriptions are for use by the interested client only.
Important note: Any evaluations, advices and indications on our information and internet pages are mostly subjective evaluations and solely have the purpose of giving real estate investors a general orientation. They make no claim to be complete, right or constantly valid. Most real estate information is founded on conditions or legal regulations (taxes, regulations about apartment ownership, tenant’s rights and more) which might have been current or of interest for real estate buyers at the time the text was written. These conditions and legal foundations – especially also fiscal aspects – possibly have changed by now. Thus we recommend, before one does any property purchase, to get the current data on the real estate markets, tax- and other legal regulations and innovations, as far as these could be of importance to the objective and subjective success of the investment.

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