Reservation Agreement

The German Federal Supreme Court commented in a decision in 2010 on reservation agreements. It is found that they are almost always invalid and both real estate agents and property developers according to requested amounts must refund. Real estate agents and property developers close often with customers interested in purchasing a reservation agreement for a reservation fee. In this agreement real estate agents and builders agree in writing to keep the real estate reserved to the notarial processing or to sell to any other prospective buyers. Such a contract is that under certain conditions regularly ineffective the Bundesgerichtshof decided inter alia on September 23, 2010 be read under the REF.

AZ III ZR 21/10. While the Federal Supreme Court has established this as follows: one clause in general terms, with the prospective buyers are required to pay a reservation fee for the case that a contract is not reached, due to Violation of 307 para 1 sentence 1 BGB ineffective. Because it discriminated against the prospective unreasonably that the defendant (E.g. real estate agents or property developers) may keep the amount to be provided immediately with signature in any case in full, even if it fails to conclude of the purchase contract. Ultimately the clause the trial represents, for the event of the failure of the sales efforts to secure compensation, without bringing significant advantages resulting from the reservation agreement for the customer nevertheless. The seller remains authorized to abandon its sale intentions despite reservation agreement. Thus, the customer pays a considerable contribution, without the guarantee, to be able to purchase the object in question. Also, the purchase decision of the interested party is affected then lapse to have not already been paying.

On the legal nature of the agreement between the parties it does not arrive. The clause is ineffective not only in brokerage contracts, but also to agreements. that about be hit with a construction supervisor or an architecture Office.” The German Federal Supreme Court it left open the question whether a reservation agreement in principle only then legally learns effectiveness when it was notarized by a notary public because they would built a pressure situation against the interested in purchasing. You can find more information about the subject property and real estate, as well as everything related to the financing of the construction under:.