General Terms and Conditions (GTC)

1. Scope of Application

These General Terms and Conditions (hereinafter GTC) shall apply to the use of the website operated by Crowdhouse AG, Lerchenstrasse 24, 8045 Zurich (hereinafter crowdhouse) in connection with the range of services described in Clause 2 www.crowdhouse.ch (hereinafter website). These General Terms and Conditions regulate the legal relationships between the user of the services described in Clause 2 and crowdhouse.
The use of further offerings on the website www.crowdhouse.ch is governed by the contractual provisions applicable to these offerings.

2. Range of services

2.1 Indicative market value estimate

In connection with properties that meet the minimum requirements defined by crowdhouse, at the user’s request crowdhouse can provide an indicative market value estimate free of charge and send this to the user in an appropriate form.
The user is obliged to provide crowdhouse with the information and documents required for the preparation of the indicative market value estimate in a truthful and complete manner.
Crowdhouse shall inform the user of the minimum requirements to be met by the properties and of the information and documents required for carrying out the indicative market value estimate when submitting a request for an indicative market value estimate.

2.2 Purchase offer

At the user’s request, crowdhouse can assess free of charge whether to submit a purchase offer to the user in connection with properties for which an indicative market value estimate has been or can be carried out. If crowdhouse decides to submit such an offer, it will send it to the user in a suitable form.
The decision to submit such an offer requires an in-depth examination of the property. In connection with this examination of the property, the user undertakes to provide crowdhouse with all necessary information and documents truthfully and in their entirety and to grant crowdhouse or a representative thereof access to the property, if required.
In the course of submission of a request to make a purchase offer, Crowdhouse shall inform the user about the information and documents required to do so. Irrespective of such information and documents, the user is obliged to provide crowdhouse with all information relevant to the purchase price.
In connection with a purchase offer, the user acknowledges that after conclusion of a possible purchase contract, crowdhouse may intend to transfer the rights and obligations arising from the purchase contract to one or more third parties prior to the transfer of ownership. Accordingly, crowdhouse will reserve such a right in a sales contract (substitution clause).

2.3 Special obligations of the user when concluding a purchase contract

Should crowdhouse and the user conclude a formal purchase contract in connection with a property, the user authorises crowdhouse to provide the concluded purchase contract to potential interested parties in the course of brokerage of the property prior to the transfer of ownership as well as further information and documents required for the transfer that the user has provided to crowdhouse.
In such a case, the user also undertakes to refrain from any action that makes it more difficult to broker the property or circumvents the crowdhouse fee structure applicable in connection with the brokerage.

2.4 Requirements for the user of the range of services

Requests for an indicative market value estimate or the submission of a purchase offer can only be made by users who are either the owners of the relevant property or have been authorised by the respective owner to place such a request with crowdhouse.
The user may only make information available to crowdhouse in the course of enquiries if he is entitled to do so.

2.5 No claim to use of services

The user has no claim to the use of the services described in section 2. Crowdhouse reserves the right to refuse user requests for an indicative market estimate or the submission of a purchase offer at any time, without giving reasons.

2.6 Commission fee

Crowdhouse may offer a commission fee for the brokerage of real estate. The precondition for the payment of such a commission fee is that Crowdhouse and the user have concluded a written agreement, with which the user is commissioned to broker real estate against payment of a commission fee and which regulates the mutual rights and obligations as well as the modalities of the payment of the commission fee. Commission fee claims cannot be asserted without a written contract.

3. Access

Technical access to the website is via network operators and software chosen by the user. The user bears sole responsibility for this.
The user is prohibited from using mechanisms, software or other scripts which could interfere with the proper operation of the website or from taking measures which could result in an unreasonable or excessive load on the website.
If the use of the website requires prior registration or identification of the user, the user is obliged to keep the necessary access data secret and to protect it against misuse by unauthorised persons. The user bears all risks resulting from the misuse of the access data.

4. Rights to the contents of the website

Crowdhouse is the copyright owner of all content generated by crowdhouse on the website. In addition, crowdhouse is entitled to the copyright on all information, documents and contracts which are made available to the user in connection with the conclusion of a purchase contract.
The user undertakes to use these contents as well as the information, documents and contracts provided by crowdhouse exclusively in connection with the use of the services described in Clause 2. The user is prohibited from any other use, reproduction or further utilisation.
In addition, the user is prohibited from modifying or blocking the content generated by crowdhouse on the website.

5. Confidentiality

Crowdhouse undertakes to keep confidential all non-publicly accessible information and documents which crowdhouse has received from the user in connection with the use of the services described in Clause 2.
The user also undertakes to keep confidential all non-publicly accessible information and documents which he has received from crowdhouse in connection with the use of the services described in Clause 2.
An exception to the obligation to maintain confidentiality exists only insofar as and to the extent that one party is exempted from confidentiality by the other party or disclosure is required by a court order or by statutory obligations.

6. Data protection

Processing of the personal data of the users of the website is carried out in strict compliance with data protection regulations. Further information can be found in the data protection regulations. The provisions on data protection form an integral part of these General Terms and Conditions.

7. Liability and warranty exclusion

Any warranty or liability on the part of crowdhouse, its organs, employees and assistants is excluded to the extent permitted by law.
All information provided on the website is provided without warranty.

8. Partial invalidity

Should any provision of these GTC be or become void, invalid or ineffective in whole or in part at any time, the remainder of these GTC shall not be thereby affected. In such case, the parties undertake to replace the affected provision with another, effective provision that comes closest to the originally intended economic purpose of the of the invalid provision.

9. Amendments

Crowdhouse reserves the right to amend the terms and conditions and data protection provisions at any time. Such amendments shall be notified to the user in an appropriate form. If there is no written objection within 30 days of notification, the amendments shall be deemed to have been approved.

10. Applicable Law and Jurisdiction

The present GTCs and all other agreements between the user and crowdhouse are exclusively subject to Swiss substantive law.
Exclusive place of jurisdiction is Zurich.

 

Appendix: Terms and conditions for the use of www.crowdhouse.ch

1. General conditions

These terms and conditions of Crowdhouse AG, Lerchenstrasse 24, 8045 Zürich (hereinafter crowdhouse), regulates the conditions of use, and the rights and obligations of users related to the use of the website www.crowdhouse.ch (hereinafter the website).

The services of crowdhouse consists specifically in bringing together the real estate offers and the potential buyers and investors, as well as in managing the properties.

The personal data processing of users of the website is under strict observance of data protection regulations. More information can be found under the provision on data protection. The provision on data protection are an integral part of the present terms and conditions of use of the website.

2. Registration

The use of the website requires a user registration and the agreement to the present terms and conditions of use of the website and to the provision on data protection. Any claim on the use of crowdhouse services is excluded.

Any registration by, and use of the website is only open to natural persons over 18, and legal persons. Membership is personal and not transferable. Users may not provide their user account to third parties. Each user may only have one user account.

3. Rights to the content of the website and terms of use

crowdhouse is protected by copyright for all the information contained on the website and for the existing documents and data linked to the use of the website. The user is not allowed to reproduce or to modify any information contained on the website or any relevant document and data linked to the use of the website. The user shall use the documents such as image material, information about the properties, contracts, etc. exclusively for the purpose of investing or of evaluating a potential investment. The contracts and other documents may not be reproduced, modified or otherwise processed. crowdhouse remains the sole owner of the copyrights and rights of use at any time.
The real estate share can be acquired exclusively by users (i) for their own private investment or (ii) on behalf of a third party for their private investment based on a power of attorney or (iii) on behalf of a legal person for the purpose of the investments of the legal person concerned based on a power of attorney. It is not permitted to acquire the share for the purpose of resale to third parties nor for a bidder nor for the intermediation to third parties without the prior written consent of crowdhouse.
During three years after the registration on crowdhouse, every user or investor shall not, without the consent of crowdhouse, acquire real estate directly or indirectly from the vendor of the property and to procure any property directly or indirectly to third parties. A company, held directly or indirectly by at least 50% by the seller, is considered equally as the seller.
In addition, after the conclusion of a management contract, during the same period, every user or investor shall not to purchase any property offered by the broker entrusted with the sale of the property, nor to pass it on to potential buyers.

4. Disclaimer

Any warranty and liability of crowdhouse, their directors, officers, employees and auxiliary persons is excluded, to the extent permitted by law.
The data and information contained on this website are provided without guarantee. That information give only a brief overview of the documents and data provided by the seller for every property available. It is neither an advertisement addressed to potential investors nor an offer nor a recommendation to purchase. Any liability of crowdhouse for possible mistakes, errors and omissions on this website or in other written or oral information is excluded to the extent permitted by law. Moreover, crowdhouse is not liable for the accuracy and completeness of the documents provided by the seller of the available properties and the information contained therein. Any interested party is responsible for the verification of the documents provided. Therefore, crowdhouse recommends the involvement of professional consultants (such as tax advisers, property valuator) for carrying out an individual needs assessment and for giving professional advice. If nevertheless such information were provided or warranty were given, it can then be assumed that these have not been approved. Commission claims by third parties are excluded.

5. No investment advices and no regulation

crowdhouse is neither an investment consultant nor a fund manager, but a business portal. Our role is limited to bringing together supply and demand on the real estate market in a modern way and without exclusions. We don’t give any investment recommendations. The data and information contained on the website do not constitute any advertising and contain neither a recommendation nor an invitation to purchase. The investment in the properties displayed on this website are not governed by the Federal Act on Collective Investment Scheme (CISA). According to the fact sheet of the Swiss Financial Market Supervisory Authority FINMA from the 1st of December 2014, the operation of crowdfunding platforms, in which the money goes directly from the project financers to the project developers, not subject to any specific provisions under Swiss supervisory law. This also applies if the funds go to a third party independent from the project developers, the platform operator and the project financers (for instance escrow agents). According to the above specifications, crowdhouse never receives funds, public investments nor any other capital and executes no payment transactions nor financing operations. crowdhouse is not subject to the Swiss Financial Market Supervisory Authority FINMA.

6. Taxes

On this website, no information concerning the users or investors tax obligations is provided. Each user or investor is directly responsible for the correct taxation of his own investments. Basically, taxation is based upon annual income for privates as well as for businesses. With the sale of real estate shares or with the sale of the entire property, taxes are also due and can vary depending on the legal form, location of the property and holding period. These tax obligations should be precisely clarified by each investor with their tax advisors beforehand.

7. Risks

This website may contain statements about future financial and operating results and other developments and forecasts, all of which are forward-looking or subjective assessments. All of these statements are based upon estimates, assumptions and presumptions that crowdhouse considers appropriate at this stage. Due to a number of uncertainties, risks and other factors, the expectations could differ materially from the actual results. Properties may be subject to significant fluctuations and unforeseeable risks. In extreme cases, even an entire loss of the investment is not excluded. Before deciding for an investment in a property based on available documents, we recommend you to become familiar with the risks of real estate investment. You will find more information about risks in the footer of our website under the title Risk factors.

8. Referral program

The referral program on crowdhouse.ch allows users or investors to receive a discount on future properties investment with crowdhouse thanks to recommendations.
Participation requirements: the user or the investor must be registered on the crowdhouse platform and identified by one of our staff as a person through a phone call or a personal visit. The recommendation must be made on the referral page (by entering a valid email) on crowdhouse.ch. The referred user must then register on crowdhouse.ch thanks to the referral email that he will receive and successfully invest in a property on crowdhouse.ch (payment of own funds, acceptance by the bank and transfer of title).
The recommender will be informed about the successful investment of the newly recommended user or investor and receives a confirmation of the discount by email.
Other condition: the discount is equal to CHF 500 per successfully referred investor, regardless of the amount of the investment. The discount may be paid in cash or be credited for a personal, future property investment on crowdhouse.ch. The discount of CHF 500 will only be credited once per referred user. For recurring investments of the referred user an additional discount is excluded. The discount is not transferable and is valid for 24 months (from the date of confirmation of the discount by crowdhouse.ch). The maximum amount of discount per investor and per calendar year amounts to CHF 100,000. Employees, partners and shareholders of crowdhouse.ch are excluded from the referral program.

9. Changes

crowdhouse reserves the right to amend the general conditions of use and the privacy policy at any time. The most current version, published on internet, applies between the user and crowdhouse.

10. Place of jurisdiction and applicable law

Swiss law is exclusively applicable for the present general conditions of use and all other agreements between the user and crowdhouse. The exclusive place of jurisdiction is Zurich.