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Legal aspects

THE PROCEDURE

After you have decided to purchase an apartment the procedure is as follows: on the basis of your personal data the relevant contractual documents will be drawn up and sent to you. If there are no requested changes the purchase contract will be certified by a notary. The vendor is then committed to transferring title to the property, and the purchaser to payment of the purchase price. The specifications of the property, construction plans and the management contract are components of the declaration of division and accordingly of the purchase contract. For a period of five years from customer acceptance of the property the vendor remains liable for defects to the building in accordance with the German Civil Code – legislation on the performance of works and services.

PURCHASE PRICE

The purchase price is a fixed price and includes the provision of all the necessary infrastructure and turnkey construction, including external facilities, in accordance with the building specifications. For prices please see the attached price list. The purchase price for the apartment and the parking space is to be paid in accordance with the progress of the construction work in accordance with Paragraph 3 Section 2 of Germany’s new "estate agent and property developer directive". For you this means additional security, because payment only becomes due for building services which have already been implemented. The individual instalments as a percentage of the purchase price are as follows.

PAYMENT PLAN

In accordance with the law seven individual instalments are to be formed on the basis of the following percentages:

  • 25% after the start of the excavation work
  • 28% after completion of the building structure, including carpentry work
  • 5.6% after completion of the roof and guttering
  • 2.1% after basic installation of the heating system
  • 2.1% after the basic installation of the plumbing
  • 2.1% after the basic installation of the electrical wiring
  • 7.0% after the installation of the windows, including glazing
  • 4.2% for the internal plastering with the exception of auxiliary plastering work
  • 2.1% for the floor finish
  • 2.8% for tiling in the bathroom
  • 8.4% after readiness for occupation as and when title is transferred
  • 2.1% for the facade work
  • 8.5% after full completion

DISCLAIMER

The contents of this brochure have been compiled by the issuer carefully and conscientiously. It is based on current legislation and administrative practice at the time the brochure was published. The information in this brochure is based on the status of the planning at the time the application for the building permit was submitted. We reserve the right to make changes. This brochure is only for information purposes and is not represent any contractual offer. It is made available to interested parties only on the basis of the above disclaimer relating to the contents.

LIABILITY DISCLAIMER

Liability for incorrect and incomplete information in the brochure or the breach of any applicable obligations to provide information to purchasers on the part of the party issuing the brochure, the sales partners of SWI Schimpel & Winter Hausbau GmbH and their individual managers and employees as well as any independent agents commissioned and their staff is restricted to deliberate wrongdoing and gross negligence. Any attribution of liability is restricted to the individual sales partner to the extent of any incorrect or incomplete information in the brochure or breaches of obligations in the area of operations which are the contractual responsibility of the individual contractual partner if this contractual partner is guilty of such breaches. If any liability should apply in individual cases in accordance with statutory regulations this will also be subject to the above liability disclaimer. Joint liability is excluded on the part of the issuer of the brochure, the proposed sales partner(s) and agents acting on his/their behalf. Any claims for damages which are based on culpability will apply against the above only in the case of deliberate wrongdoing or grossly negligent conduct. The statute of limitations will apply as follows: possible claims for damages because of any incorrect or incomplete information in the brochure will be time-barred six months after they become known and at the latest three years after the purchase of an apartment or parking space, unless otherwise determined by statutory regulations. No one will have the right to make any declarations which differ from the present brochure and its insert unless he has been expressly authorised in writing to do so by SWI Schimpel & Winter Hausbau GmbH. All illustrations of the property were created by the illustrator on the basis of the architectural plans. They are subject to creative freedom and are non-binding with regard to the accuracy of detail and scale. Only the agreements which are concluded in the notary's certificate of purchase, the relevant declaration of division and other contracts between the vendors and the purchaser will apply.