Terms of business

1. Offer

ML Invest's offer as a real estate broker (hereinafter: the Agency) is based on data received in writing, orally or electronically by the client - seller of real estate and is subject to confirmation by the Agency and the Brokerage Agreement. In performing mediation activities, ie other actions related to the work that is the subject of mediation, the Agency must act with increased care, according to the rules of the profession and customs (attention of a good expert). The Agency retains the possibility of errors in the description and price of real estate that may occur due to incorrect data or changes in the terms of sale by the client - seller of real estate and the possibility that the advertised property has already been sold or the owner has given up without informing the Agency. The Agency shall be liable for incorrect information only in the event of intentional or grossly negligent conduct. Offers and notices given to the client - buyer of real estate must be kept in confidence and the same may be transferred to a third party only with the written approval of the Agency. If the recipient of the offer is already familiar with the real estate offered to him by the Agency, he is obliged to inform the Agency without delay.

2. Obligations of the Agency

  • conclude a Brokerage Agreement with the principal (standard or exclusive);
  • endeavor to find and bring into contact with the principal a person for the purpose of concluding an intermediary transaction;
  • assess the market value of the real estate and acquaint the client with the average market price of a similar real estate;
  • warn the client of possible defects in the property, as well as the situation on the market;
  • obtain and inspect documents proving ownership or other real right on the real estate in question;
  • to acquaint the client with all legal, tax and other obligations arising for him from the legal transaction regarding the real estate in question;
  • perform the necessary actions for the presentation of real estate on the market,
  • enable inspection of real estate (organization and management);
  • to keep the personal data of the principal and, upon a written order of the principal, to keep as a business secret the data on the real estate for which he is mediating or in connection with that real estate or with the business for which he is mediating;
  • inform the client of all circumstances relevant to the intended work that are known to him or should be known to him;
  • mediate in negotiations and try to reach an agreement;
  • check the purpose of the land that is the subject of the contract in accordance with the regulations on spatial planning that apply to that land;
  • attend the conclusion of a legal transaction (pre-contract or agreement);
  •  on behalf of the principal to file the necessary documentation with the competent Tax Administration and the land registry department of the competent Court.

The Agency shall be deemed to have enabled the principal to contact a third party (natural or legal) with whom it has negotiated a legal transaction, in particular if:

  • directly took or referred a third person to the principal to inspect the real estate in question;
  • organized a meeting between the principal and a third party to negotiate a legal transaction;
  • communicated to the client the name, address, telephone number, fax number, e-mail address of a third party authorized to enter into a legal transaction or communicated the exact location of the requested real estate.

3. Obligations of the principal

  • conclude a Brokerage Agreement with the Agency (standard or exclusive);
  • inform the Agency of all circumstances that are important for the mediation and provide accurate information about the property and, if it has, give the broker a location, construction or use permit for the property that is the subject of the contract, energy efficiency certificate and provide the broker with evidence on fulfillment of obligations towards a third party;
  • provide the Agency with documents proving his ownership of the real estate, ie other real right on the real estate that is the subject of the contract, and warn the mediator of all registered and unregistered encumbrances that exist on the real estate;
  • inform the Agency of all relevant information about the requested real estate, which in particular includes a description of the real estate and the price;
  • provide the Agency and a third party interested in concluding the mediated transaction with a tour of the property accompanied by the Agency;
  • after concluding the mediated legal transaction, ie pre-agreement by which he undertook to enter into the mediated legal transaction, if the Agency and the principal agreed that the right to payment of the brokerage fee is acquired upon concluding the pre-agreement, pay the brokerage fee to the Agency (unless otherwise agreed);
  • reimburse the Agency for costs incurred during the mediation, which exceed the usual costs of mediation (if explicitly agreed);
  • notify the Agency in writing of all changes related to the business for which he has authorized the Agency, and in particular of changes related to the ownership of real estate.

The Client is liable for damages, if he acted fraudulently, if he failed to provide or provided incorrect information relevant to the mediation activities in order to complete the legal transaction. The Client is also liable for damages in the event of intentional or grossly negligent conduct on his part towards the Agency or a third party contracted by the Agency.

In all these cases, the principal, if he did not act in good faith, is liable for damages and is obliged to reimburse the Agency for all costs incurred during the mediation, which they cannot be less than 1/3 nor higher than the agreed brokerage fee for the brokered job.

4. Exercising the right to compensation

The Agency acquires the right to mediation fee in full, at the time of concluding the Preliminary Agreement by which the principal undertook to conclude the mediated legal transaction, or at the time of concluding the Agreement if so agreed. The mediation fee is paid to the Agency at the same time or immediately after the conclusion of the legal transaction for which the Agency mediated.

If the client withdraws during the conclusion of the mediated work, he is obliged to pay the actual costs in terms of time spent, advertising and other costs. The Client is also obliged to pay a brokerage fee when he has concluded a legal transaction with a person with whom he was brought in by the Agency, different from the one for which he was mediating, which is of the same value as the legal transaction, ie which achieves the same purpose as the mediated business.

The Agency is entitled to compensation if a third party related to the principal (for example: spouse, common-law partner, descendant, parent, director or owner of a company) concludes an intermediary legal transaction with a person with whom the Agency has linked the principal.

If, within 12 months after the termination of the mediation contract, the principal enters into a legal transaction resulting from the mediator's actions before the termination of the mediation contract, he is obliged to pay the mediator in full, unless otherwise agreed in the contract.

5. Brokerage fee

The amount of the brokerage fee is determined by the real estate brokerage contract. The brokerage fee includes the usual costs of mediation (connecting the principal and a third party and checking the condition of the real estate, the necessary negotiations and preparatory actions for concluding a legal transaction), except for those costs that are specifically agreed.

The following costs are also included in the mediation fee: drafting of legal acts (pre-agreements / contracts and proposals for registration), costs of court fees, etc.

If the Agency, in agreement with the ordering party, performs for him other actions related to the work that is the subject of mediation, the type and amount of costs of these actions shall be agreed in the Mediation Agreement.

6. Term of validity of the contract

The mediation contract is concluded for a definite period of time. If the contracting parties do not agree on a specific period for which the contract is concluded, it shall be deemed to have been concluded for a period of one year.

If the notice period is not explicitly determined by the mediation agreement, the notice period is 8 days from the receipt of written or oral notice. When the real estate brokerage contract is terminated by termination, the client is obliged to reimburse the Agency for the costs incurred.

7. General provisions and dispute resolution

The general provisions on the brokerage contract, as well as other provisions of the Civil Obligations Act and the Real Estate Brokerage Act, apply in the alternative to the relations between the principal and the Agency arising from brokerage contracts that are not regulated by these General Terms and Conditions or the brokerage contract. Possible disputes will be resolved by the competent court in Dubrovnik.

The General Terms and Conditions are published on the company's notice board and a copy of the General Terms and Conditions is delivered to the client when concluding the contract, and they also form an integral part of electronic correspondence. If the client continues to cooperate in the form of communication with the agency after receiving the general conditions electronically, it is considered that he fully accepts them.

Top crossmenu