Exposé (real estate)

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As Exposé or expose in is real estate industry a description of a property referred. Usually, an exposé is prepared by the seller / landlord or one of his agents such as a broker , architect or a credit institute . The aim is usually better marketing of the property in the form of renting and / or selling.

In this respect, in addition to the site plan, photos and basic data on the property such as the area, purchase price / rent, year of construction, and a short description of the property. Since May 1, 2014, information on energy consumption has been mandatory.

It is often questionable whether and to what extent the creator of the prospectus will be liable for prospectuses similar to securities law , so that the creators, in particular brokers, therefore include a reservation of liability or even exclusion of liability in the synopsis.

Most of the time, the synopsis is just an “appetizer” to arouse interest. The exposé, which is mostly prepared for marketing / advertising purposes, is i. d. As a rule, it is never the basis or part of a possible later notarial purchase contract which, according to German law, is always based on the neutral data of the land register , official cadastral excerpt , building law , building load register , etc.

In the context of the foreclosure auction of real estate, in addition to market value reports by the local courts , a short form is often published as an exposé, in which the key points of the report are summarized.

There is no fixed format for exposés within the real estate industry; each company decides for itself which information is printed in an exposé. The real estate portals on the Internet also refer to their advertisements as an exposé (e.g. Immowelt , Immobilienscout24 ), whereby specifications and restrictions are made through the input mask .

Exposés are increasingly being sent via the Internet or e-mail or can be accessed there.

The term prospectus is also often used colloquially , e.g. In some cases, this can also be found in the real estate industry literature, differentiated from the exposé as follows: Planned properties (exposé) and completed properties (prospectus), but this distinction does not prevail in everyday use.

Individual evidence

  1. Foreclosure Dates - Find Dates. Ministry of Justice of the State of North Rhine-Westphalia, accessed on February 11, 2018 (platform for information on foreclosure proceedings).