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Setting a lower starting bid often results in more bids for your property, and ultimately, a higher sales price for your property. For best results, it is recommended that you set the starting bid as low as possible.
In order to offer mortgage financing option, you must list your property for a period of at least 14 business days. This is to allow our preferred list of mortgage lenders sufficient time to analyze your property, in determining whether they can offer financing to your winning bidder.
Virtual tours are a great way to allow 1,000s of potential bidders to view your property, without the need of coordinating actual physical showings. Click here to view a list of service providers in your property’s area, who can help create a virtual tour for you.
By placing an initial bid, an ACH charge of 5% of the bid value will be charged to your bank account on file. This charge will be refunded to you after auction close if you are not the winning bidder. To review / update your bank information, Click here .
IMPORTANT! PLEASE READ…
We maintain a very strict non-circumvention policy! We regularly monitor communications between buyers and sellers. By listing a property for sale through RealtyAuctionsOnline.com, you are entering into a legally binding contract, per our Terms of Service.
Any attempts at circumventing the auction will result in permanent account suspension, AND a circumvention fee of $10,000…if circumvention occurs, we will take legal action if needed, to collect the circumvention fee, in an appropriate court of law.
For best results, we recommend listing for a period of approximately 14 business days. A property listed for this time period will receive optimal views, and will be more likely to result in the successful sale of your property.
In order to add Premium services to your auction listing, a credit / debit card is required. Click here to update your credit / debit card information.
TERMS OF SERVICE
I. Basic Account And Service Information
1.1 ACKNOWLEDGMENT AND ACCEPTANCE OF TERMS OF SERVICE
In addition to agreeing to these Terms of Service, you also accept and agree to be bound by the Seller’s additional conditions of sale in the property listing.
If you are applying as an individual, you expressly represent and warrant that you have the capacity under applicable law to enter into a legally binding contract; for example, if you are a minor, you may only use Realtyauctionsonline.com’s services in conjunction with your parent(s) or guardian(s). If you are applying as a legal entity, you expressly represent and warrant that you have been duly authorized by your company, partnership, or other legal entity to enter into agreements on behalf of that entity. If you are a Seller, you expressly represent and warrant that you have the full right to list the property, and if acting as an agent, broker, or partner in listing a property which is owned by another person or entity, that you have been expressly granted full authorization to list the property on behalf of the true and current owner on title.
1.2 DESCRIPTION OF REALTYAUCTIONSONLINE.COM’S SERVICE
Realtyauctionsonline.com provides an online venue for Sellers to list properties for sale and for Buyers to locate properties for sale in order to facilitate the transfer of ownership of properties (“Properties”). Unless specifically stated otherwise in any property listing, properties available through the Site are offered by Sellers and not by Realtyauctionsonline.com. Realtyauctionsonline.com is not a party to the offer or sale of these Properties, does not own the Properties listed on the Site, and only provides the technical means for the offer and sale of the Properties. Realtyauctionsonline.com does not ensure that a Seller and Buyer will complete a transaction, for all transactions except those where the seller is an affiliate company of Realtyauctionsonline.com, and where the property listing specifically states that title to that property is held “in-house.” Realtyauctionsonline.com is not responsible for fulfillment of any property sale or for facilitating the delivery of said Property/Properties, with the exception of properties owed “in-house” by affiliate companies. Although Realtyauctionsonline.com may supervise the content of information of the Site (see “Supervision of Content” below), Realtyauctionsonline.com does not assume responsibility for verifying the material, content and information on its Site and is not responsible for any damages, losses, expenses or other injuries incurred by any Member as a result of relying on any material, content and information posted on the Site.
1.3 MEMBER SIGN UP AND INFORMATION
(a) Account Data. Each Member expressly agrees to: (1) provide certain current, complete, and accurate information about Member as prompted to do so, and (2) maintain and update this information as required to keep it current, complete and accurate. Furthermore, Member grants Realtyauctionsonline.com the right to use Member-related data for purposes of contacting Member. Realtyauctionsonline.com membership is non-transferable. If any information provided by Member is incomplete or inaccurate, Realtyauctionsonline.com retains the right to terminate Member’s rights to use the Site. The Realtyauctionsonline.com site is a private venue; Realtyauctionsonline.com may deny access to its site at its sole discretion, and for any reason or for no reason. Providing false or fraudulent Member information could subject a Member to criminal or civil liability as well as being a violation of these Terms of Service. Member may change personal information on its existing membership account only to update the Member account.
(b) Username and Password. Upon registering as a member of the website, party must choose a username and password. IMPORTANT: Please add Service@Realtyauctionsonline.com to your “Contacts” list in your email account, to ensure that you receive important messages regarding your account. Members are entirely responsible for maintaining the confidentiality of their usernames and passwords. Furthermore, Members are entirely responsible for any and all activities which occur under a Member’s username and password. Member agrees to immediately notify Realtyauctionsonline.com of any unauthorized use of Member’s username or any other breach of security known to Member. Realtyauctionsonline.com may terminate the membership of any Member due to the misuse, improper use or unauthorized use of their username, password or this Site. Realtyauctionsonline.com shall not be responsible and the Member shall hold harmless Realtyauctionsonline.com for any actual, special, consequential or incidental losses or damages arising from the misuse, improper use or unauthorized use of their username, password or this Site.
II. Conduct Of Auctions On The Site
2.1 PROCEDURE FOR CONDUCTING AUCTIONS
(a) Standard Auction Procedures. Properties are listed for the specified bidding periods (the “bidding”) shown on the Site and are deemed “sold” at the close of bidding. Seller chooses the initial auction closing time, and the bidding period may be extended by 5 minutes, if within the last 5 minutes of the bidding period, a bidder places a bid on the Property. Each property on the Site will have a description, as well as any additional conditions of sale provided by the Seller. Once bidding commences, Bidders may make a bid at any time prior to closing of the bidding. All Properties will have a minimum bid price disclosed on the Site. After bidding closes on each Property, Realtyauctionsonline.com will send the highest Bidder and Seller an email detailing the winning bid amount, and instructions for contacting one another as described in Section 2.1 of this agreement. In order for a Bidder to place a bid on a property, Bidder must have a valid and current bank account on file. For each auction listing, Bidder must first have sufficient funds in Bidder’s bank account on file to pay for 5% of the bid amount which the Bidder enters. Immediately upon placing a bid, Bidder authorizes Realtyauctionsonline.com to initiate an ACH charge to Bidder’s bank account on file for 5% of the bid amount Bidder enters. Said ACH charge must successfully process in order for bid to be considered valid. Any rejected ACH charges will automatically invalidate the bid and subject Bidder to account suspension (see “Payment of Fees to Realtyauctionsonline.com” below). After auction close and successful processing of said ACH charge, Bidder’s contact information, and a summary of the balance due to the Seller will be emailed to the Seller (a “Sold Notice”). In all auctions, a Buyer who is designated as the winning bidder on the Property listing, whether or not they receive a Sold Notice, is legally bound to buy the Property at the quoted bid amount (see “Contractual Obligations of Buyers and Sellers” below), and the Seller is legally bound to sell the Property, pursuant to these Terms of Service subject to the additional conditions of sale specified by Seller. The Seller is obligated to contact the winning Bidder within one (1) business day of receiving the email from Realtyauctionsonline.com with the winning Bidder’s contact information (or the Seller may engage a representative, including Realtyauctionsonline.com, to contact the winning Bidder on the Seller’s behalf, within the same timeframe of (1) business day of receiving winning Bidder’s contact information). The winning Bidder is obligated to finalize the transaction per the Terms of Service, and per the instructions provided in the Property listing. After two (2) business days, if the Seller is unable to contact the winning Bidder for whatever reason, the Seller may in its sole discretion (a) continue to attempt to contact the high Bidder with assistance from Realtyauctionsonline.com or (b) re-list the Property on the Site. Once the parties are in contact, the Seller and winning Bidder shall complete the settlement of the purchase and sale of the Property pursuant to “Settlement of Transactions” below.
2.2 EXTRAORDINARY CIRCUMSTANCES; LIMITED RIGHTS TO RE-OPEN AUCTION
Notwithstanding anything herein to the contrary, in the rare event of a documented interruption in service, technical error or other exceptional circumstance of a similar nature (defined by and determined at the sole discretion of Realtyauctionsonline.com and its affiliates), with respect to the services provided by Realtyauctionsonline.com or its affiliates (excluding technical errors with the Member’s own equipment or Internet connection), the Seller for any adversely affected auction shall have the right, within two (2) business days after such auction has closed, or a “Sold Notice” issued, to direct Realtyauctionsonline.com to re-open such auction. In such a case, the affected “Sold Notice” shall immediately become void and of no force and effect. Realtyauctionsonline.com shall promptly send an email to all documented Bidders, including any Bidder that received a “Sold Notice”, specifying the details pursuant to which the affected auction shall be re-opened. At the direction of the Seller, participation in the re-opened auction may be restricted to only those who participated in the original auction.
2.3 SETTLEMENT OF TRANSACTIONS GENERALLY
(a) Settlement between Seller and Buyer. The settlement of a purchase and sale of a property following a completed bidding process shall be conducted pursuant to this Section. Additional settlement conditions may apply if provided in Seller’s conditions of sale or in a written agreement executed by the Buyer and Seller. For every auction a Bidder bids on, RealtyAuctionsOnline.com will process an ACH bank charge to Bidder's bank account on file, equal to 5% of Bidder's "initial bid," and 5% of every bid Bidder places thereafter. In the event that said Bidder does not win the auction, RealtyAuctionsOnline.com will refund Bidder all said ACH charges associated with said auction listing, to Bidder's bank account on file at the time of bidding.
Example: Bidder enters an initial bid of $100,000. An initial ACH charge of $5,000 is processed. Bidder is outbid by another bidder at $110,000. Bidder then enters a second bid of $120,000. A second ACH charge of $1,000 is processed.
After auction close, an email will be sent to the winning Bidder with instructions for finalizing the transaction. If there is a winning Bidder, the Seller will receive an email, with instructions for contacting the winning Bidder to finalize the transaction, and the winning bidder will receive an email, with instructions for contacting the Seller to finalize the transaction. Seller shall send the fully executed settlement documents, as appropriate, to Buyer. Unless otherwise agreed upon between Bidder and Seller prior to close of auction (such as with transactions involving title / escrow companies and/or mortgage loans), Seller is required to submit all necessary transfer documents to the appropriate jurisdiction within five (5) business days of Seller receiving above said email with winning Bidder information for finalizing the transaction.
2.4 Seller Identity Verification
In order to protect the reputation of its Sellers and to provide an added measure of security for its Buyers, Realtyauctionsonline.com maintains an Identity Verification procedure. The Identity Verification procedure is one tool in enhancing the Internet buying experience. We also encourage Bidders to ask questions regarding particular properties and sellers, through the contact methods provided through the website. Bidders may also wish to consider using a reputable third party escrow service. Ultimately, the Seller and Buyer are responsible for successful completion of a transaction. Despite the tools offered to its Members, Realtyauctionsonline.com cannot guarantee the completion of a transaction between a Seller and a Buyer. See Section V. for an explanation of Realtyauctionsonline.com’s responsibilities and limitation of liabilities, as well as available dispute resolution alternatives.
III. Responsibilities of Buyers and Sellers
3.1 WHO CAN BID?
Bidders must sign up with Realtyauctionsonline.com as a Member and be capable of forming legally binding relations under applicable law. The services provided by Realtyauctionsonline.com are not available to individuals under the age of 18 years old and any other individuals who are legally prohibited from, or otherwise incapable of, entering into binding contracts. Sellers are restricted from bidding on their own auctions. Sellers may not manipulate prices of auctions by having others bid on their properties for them.
A Seller may request that Realtyauctionsonline.com restrict the right of a particular Member to bid on that Seller’s auction(s). Notwithstanding any language to the contrary in the Terms of Service, in the event that a bidder becomes obligated to perform, as provided in the Terms of Service, and fails to perform (“Non Performing Bidder”), Realtyauctionsonline.com may, in addition to any other rights it may have under the Terms of Service, seek reimbursement for any lost fees and for any expenses, including attorney fees, and/or damages incurred as a result of such non performing bidder by retaining portion of the Bidder Success Fee received from Bidder, either through ACH or wire transfer, or by bringing an action in a court of law.
3.2 WHO CAN SELL?
RealtyAuctionsOnline.com allows individual property owners, realtors, brokers, and anyone other person(s) authorized by the owners of such property, a court of law, or through power of attorney to sell a property on the Site. Upon request by Realtyauctionsonline.com, Sellers must produce evidence of ownership and/or authorization to sell on Realtyauctionsonline.com. Sellers may be required to complete an Identity Verification process prior to listing a property for sale on the Realtyauctionsonline.com site. Sellers may be requested to provide certain personal information to confirm his or her identity through a third-party processor or other means.
3.3 CONTRACTUAL OBLIGATIONS OF BUYERS AND SELLERS
(a) Terms of Service As Contract. These Terms of Service, together with any additional conditions of sale provided by a Seller for a particular Property disclosed on the Site, comprise a contract between a Seller and the winning Bidder in any completed auction. By bidding on a property a Bidder agrees, and by listing a property on the Site a Seller agrees, to be bound by these Terms of Service and the Seller’s conditions of sale included in the Property’s description, so long as those conditions of sale are not in violation of these Terms of Service or unlawful. In the event of any direct conflict between these Terms of Service and any conditions of sale provided by a Seller, then these Terms of Service shall prevail.
(b) Offer and Acceptance – Binding Contract Between Buyer and Seller. A bid made by a Buyer is an offer to purchase the Property from the Seller at the stated bid price. The bid is an irrevocable offer. Buyers are required to conduct any research or due diligence of a property prior to making a bid. All Properties are listed and sold on an “as is” “where is” basis, unless otherwise indicated by the Seller on the auction listing. If a Buyer bids on a property and that bid represents the highest bid for that Property, and the highest bid is at or above the Seller’s minimum bid price, the Buyer’s bid is deemed accepted by the Seller (subject to these Terms of Service, including the right of a Buyer to change or retract a bid in the event of a material change in the description of the Property, as set forth below). If a Seller receives at least one bid at or above the Seller’s stated minimum price, the Seller is obligated to complete the transaction with the highest Bidder upon the completion of the bidding. The Seller’s conditions of sale may provide for a specific form of purchase agreement to be executed by the Seller and winning Bidder after the auction closes. In the absence of a specific form being provided by the Seller in the conditions of sale, the Seller or the winning Bidder may request that the parties execute a standard form of purchase agreement, consistent with these Terms of Service and the Seller’s conditions of sale, to memorialize and confirm the agreement between the parties. Sellers and Buyers agree to act reasonably and in good faith in negotiating and entering into a written purchase agreement if requested by either party. Notwithstanding the provisions of this paragraph 3.3(b) herein, if a Seller in the event cancels the auction of a property subsequent to any bids, but prior to close of the Auction, Realtyauctionsonline.com reserves the right to suspend Seller’s account, and retain any service fees paid by Seller for said auction listing.
(c) Completing a Settlement. The Seller and the Buyer are jointly and equally responsible for completing the sale of a property. After the online bidding is complete, unless otherwise indicated/engaged, the Seller is responsible for taking all necessary actions to complete the sale once a winning Bidder is identified to the Seller. Realtyauctionsonline.com retains the rights to asses a fee and/or terminate a Seller’s rights to use the Site in the event a Seller fails to perform its obligations to settle on a completed auction. Similarly, the Buyer is responsible for taking all necessary actions to complete the sale. Realtyauctionsonline.com retains the rights to terminate a Buyer’s rights to use the Site in the event a Buyer fails to perform its obligations to settle on a completed auction. If a property is located in the U.S. and the seller requests that you send funds outside the U.S., do not send funds before contacting Client Services at service@Realtyauctionsonline.com.
(d) Material Change in Description of Property. Realtyauctionsonline.com may allow Sellers to change their property listing prior to acceptance of the first bid; however, once a bid has been entered on a property, no changes will be allowed.
(e) Other Conditions of Purchase and Sale. All purchases and sales of Properties and use of the Site by Members shall be conducted in compliance with applicable law. Purchases made on the Site are entirely without recourse to Realtyauctionsonline.com.
(f) Enforcement of Buyer and Seller Contract Obligations. All Members are third party beneficiaries of these Terms of Service, and Buyers and Sellers shall be entitled to enforce the provisions hereof and may pursue legal action against each other for non-performance of any provision hereof, including without limitation, non-performance of a purchase and sale after a completed bidding process. In addition, Realtyauctionsonline.com retains the right to assess fees or terminate a Member’s rights to use the Site in the event a Member violates these Terms of Service.
(g) Conducting Due Diligence. Bidders are required to conduct any research or due diligence of a property that they wish to purchase prior to making a bid. Bidders wishing to physically inspect Properties seen on the Site may make arrangements to do so at the Seller’s discretion. The Property description may contain information regarding inspections and other due diligence opportunities available. Permitted due diligence includes reviewing the Seller’s description of a property, as well as reviewing land records, tax records, appraisals, and other publicly available sources.
(h) Electronic Signature. You understand and acknowledge that in various places on the Site it may require the Bidder or Seller to input a password or their name, and to then click a button labeled “accept,” “agree,” “Bid,” “acknowledge,” “OK,” “continue,” or some such similar phrasing, in which case the Bidder or Seller (as the case may be) is agreeing to the specified terms, and by entering the password or your name (including where your name is linked to your password and auto-fill inserted) and clicking the button you are providing your “Electronic Signature” which shall be as binding, enforceable and valid as a written “pen and paper” signature in accordance with the provisions of the Electronic Signature in Global and National Commerce Act (15 USC 7001, et seq.), as amended or revised from time to time. You understand and agree that certain transactions may also require additional electronic documents, contracts, agreements, signatures, or acceptances and your providing your Electronic Signature shall also be as binding, enforceable and valid as a written “pen and paper” signature in accordance with the provisions of the Electronic Signature in Global and National Commerce Act (15 USC 7001, et seq.), as amended or revised from time to time.
3.5 OTHER RESPONSIBILITIES OF THE SELLER
(a) Non-Performing Sellers. All sellers should be aware that they have entered into a legally binding agreement if they list a property at auction on Realtyauctionsonline.com. Please see our Terms of Service, section 3.3 (b.) “offer and acceptance – binding contract between buyer and seller.” Every seller must agree to the Terms of Service before listing a property on Realtyauctionsonline.com. We take seller performance very seriously and expect every seller to complete their transaction. We vigorously enforce any violation of policy. A “non-performing” seller will be subject to the following penalties:
i. When an auction closes with a winning bidder, Realtyauctionsonline.com will send an email to the winning bidder, with instructions for completing payment of the “bidder success fee.” Once the “bidder success fee” is received, an email will be sent to the Seller…Sellers must contact the winning bidder within one (1) day of receipt of this email, to provide the winning bidder with instructions for finalizing the transaction. If a Seller fails to contact the winning bidder with one (1) day of receipt of the above said email, the Seller will be considered a “non-performing seller.”
ii. Realtyauctionsonline.com maintains a zero-tolerance policy for non-performing sellers, and will permanently suspend a seller’s account for any non-performing seller violation.
(b) Description of Properties. The Seller must accurately describe Properties in a listing provided for inclusion on the Site and shall be liable for any misstatements or omissions in such description. Failure to accurately describe a property may be fraudulent and may subject a Seller to civil and/or criminal liability, as well as being a violation of these Terms of Service. Realtyauctionsonline.com retains the right to terminate a Seller’s rights to use the Site in the event a Seller includes material misstatements or omissions in a property’s description. Seller further agrees to indemnify Realtyauctionsonline.com against any action brought against Realtyauctionsonline.com by any person or entity arising out of or due to any action of the Seller whether said action is described herein or not, or may otherwise relate to any transaction between Realtyauctionsonline.com, the Seller and any third party. Prior to listing a property, the Seller shall provide to Realtyauctionsonline.com any terms or conditions of sale for particular Properties in addition to these Terms of Service. Seller will not reference, directly or indirectly, other Sellers’ auctions or terms, nor include negative comments regarding other Seller’s auctions or terms in their listings. Notwithstanding the language herein, and if not otherwise in contradiction with any Federal, State or local law, if a Seller states in their listing that the item is being sold “As is,” and/or “Where is,” then it is up to the Buyer to undertake all due diligence, and the Buyer is fully responsible for obtaining all information with regard to the item being sold.
(c) Compliance With All Applicable Laws. Sellers are also responsible for complying with all applicable local, state, federal, or foreign laws, rules, regulations and legal approvals regarding the sale of any Properties, including without limitation, bankruptcy court approvals, federal and state securities laws regarding the sale of any Properties that may be deemed a “security,” Seller disclosure laws for any real estate Property, including environmental and broker licensure laws, export licensing and laws governing the sale, packaging, shipment, distribution and labeling of products, published materials or information, and all other applicable local, state, federal, or foreign laws, rules and regulations pertaining to the sale of any Properties. Sellers are solely responsible for ensuring that all items offered for sale are offered in full compliance with any applicable legal limitations or restrictions.
(d) Accepting Risk of Buyer’s Ability to Complete a Transaction. Sellers acknowledge and agree Realtyauctionsonline.com does not provide any representations with regard to the ability of Bidders to pay Sellers the bid price for the Property being sold.
(e) Payment of Fees to Realtyauctionsonline.com.
We have a 100% Satisfaction Policy! If you are unsatisfied with your transaction, as a one-time courtesy, we will refund any credit / debit charges to you for your listing. However, PLEASE CAREFULLY CONSIDER THE FOLLOWING: the integrity of the bidding community is our #1 priority. Per our Terms of Service, we expect Sellers to honor our Terms of Service in their entirety. Although we will honor refund requests via email, such requests may result in permanent account suspension, if we find that you were in violation of any part of our Terms of Service.
Sellers may request that Realtyauctionsonline.com refund charges to a Seller’s charge, credit or debit cards. Realtyauctionsonline.com will review such request. However, chargebacks requested through Seller’s issuing bank are an unacceptable charge dispute resolution method. Seller agrees to not dispute any charges from Realtyauctionsonline.com and agrees to not initiate any chargebacks with Seller’s issuing bank. Seller further agrees to immediately pay to Realtyauctionsonline.com any chargebacks of amounts originally charged to such Seller’s charge, credit or debit cards, as well as for fees incurred to Realtyauctionsonline.com for such chargebacks. Seller’s responsibility for chargebacks and related fees will continue even if Seller has received the funds, and/or closed the Realtyauctionsonline.com account. Realtyauctionsonline.com reminds all Sellers that by listing a property for sale on Realtyauctionsonline.com, they are legally bound by these Terms of Service, and as such, any chargebacks will additionally subject member to civil and criminal charges, in which Realtyauctionsonline.com may take action in a court of law.
(f) Including Fees In Auction Listings. Sellers may add reasonable fees to their auction to be reimbursed for services they provide, such as shipping and handling or deed transfer fees. All fees that a Buyer is expected to pay in addition to the Minimum Bid must be clearly stated in the auction. Sellers are prohibited from including excessive fees in their auctions. Fees are defined as any fee that the winning bidder is expected to pay beyond the bid amount. Realtyauctionsonline.com may, at any time, request that a Seller provide documentation to justify the fees listed on an auction. In the event that Realtyauctionsonline.com determines, in its sole discretion, that the fees listed on an auction are excessive, Realtyauctionsonline.com will not allow the property to be listed.
(g) Non-circumvention. Seller agrees that for each Property listed on Realtyauctionsonline.com, if an Auction closes with a successful Bidder, Seller is obligated to sell the Property to that Bidder. If during the course of an Auction, a Buyer becomes aware of the Property through Realtyauctionsonline.com, or through any website in which the Property was posted on, or syndicated to, by Realtyauctionsonline.com, and Buyer makes an offer outside of the Realtyauctionsonline.com venue, it is the Seller’s obligation to have that Bidder sign up and have that bid submitted on the Realtyauctionsonline.com Site for the Property in question. Realtyauctionsonline.com maintains a strict non-circumvention policy, and regularly monitors communications between Buyers and Sellers. Any attempt at circumventing an auction will result in permanent account suspension, and a non-circumvention fee of 5% of the winning bid price. Realtyauctionsonline.com, will take legal action, if necessary, to collect the non-circumvention fee.
(h) Auction Syndication. Realtyauctionsonline.com’s technology allows Realtyauctionsonline.com to syndicate auctions posted on the Realtyauctionsonline.com web site to other web sites, primarily other online advertising platforms. These other web sites will always reference the auction running on Realtyauctionsonline.com. By agreeing to these terms of service, Seller agrees to permit Realtyauctionsonline.com to syndicate Seller’s listings, and all of the information therein (data, pricing, photos, documentation, etc.) to other web sites. Once an auction listing has been syndicated, to other sites, we cannot guarantee removal of that listing from those sites.
3.5 OTHER RESPONSIBILITIES OF THE BUYER
(a) Non-Performing Bidders. In order to bid on a property on Realtyauctionsonline.com, a bidder must maintain on file, a valid and current bank account, with sufficient funds to cover the “bidder success fee,” which is equal to 5% of the winning bid price. For every auction listing a Bidder places a bid on, an ACH Bank charge will be processed to Bidder’s bank account on file, in the amount of 5% of the “initial bid” which Bidder places. If said Bidder is not the winning Bidder at auction close, an electronic ACH refund will be processed to Bidder's same bank account from which the 5% initial ACH charge was drafted. Bidder agrees that ACH disputes and / or “chargebacks” with Bidder’s bank are an unacceptable charge dispute resolution method, and will subject Bidder to permanent account suspension and civil and criminal liability. After an auction closes with a winning bidder, the winning bidder will receive an email with payment instructions for sending the remainder of the “bidder success fee” due. The winning bidder must pay the remainder of the “bidder success fee” due within one (1) day of auction close. All bidders should be aware that they have entered into a legally binding agreement if they bid on a property at auction on Realtyauctionsonline.com. Please see our Terms of Service, section 3.3 (b.) “offer and acceptance – binding contract between buyer and seller.” Every bidder must agree to the Terms of Service before bidding on a property on Realtyauctionsonline.com. We take bidder performance very seriously and expect every bidder to complete their transaction. We vigorously enforce any violation of policy. A “non-performing” bidder will be subject to the following penalties:
i. If an auction closes with a winning bidder, unless the bidder pays the bidder success fee within one (1) day of auction close, the buyer will be considered a non-performing bidder. Non-performing bidders will be subject to a non-performing bidder fee of 5% of the winning bid price. Realtyauctionsonline.com may take legal action, if needed, to collect the non-performing bidder fee.
ii. Realtyauctionsonline.com maintains a zero-tolerance policy for non-performing bidders, and will permanently suspend a bidder’s account for any non-performing bidder violation.
(b) Payment of Fees to Realtyauctionsonline.com.
We have a 100% Satisfaction Policy! If you are unsatisfied with your transaction, as a courtesy, we will refund any ACH charges to you for your transaction. However, PLEASE CAREFULLY CONSIDER THE FOLLOWING: the integrity of the bidding community is our #1 priority. Per our Terms of Service, we expect bidders to honor our Terms of Service in their entirety. Although we will honor refund requests via email, such requests may result in permanent account suspension, if we find that you were in violation of any part of our Terms of Service.
For each auction listing, there is an auction completion fee (“bidder success fee”) or 5% of the winning bid price. Bidder agrees to pay applicable fees without offset. For every auction a Bidder bids on, RealtyAuctionsOnline.com will process an ACH bank charge to Bidder's bank account on file, equal to 5% of Bidder's "initial bid," and 5% of every bid Bidder places thereafter. In the event that said Bidder does not win the auction, Bidder will be issued an electronic refund for said ACH charge, to the same bank account Bidder had on file at the time the bid was placed.
Example: Bidder enters an initial bid of $100,000. An initial ACH charge of $5,000 is processed. Bidder is outbid by another bidder at $110,000. Bidder then enters a second bid of $120,000. A second ACH charge of $1,000 is processed.
NOTE: Do Not Bid unless you are sure you will have the funds necessary to pay the bidder success fee (5% of the winning bid price)!
Fees related to a completed auction are due to Realtyauctionsonline.com at the time an auction ends and is marked as Sold, unless other payment terms are agreed to by Realtyauctionsonline.com. If an ACH charge is rejected by Bidder’s bank prior to, or after auction close, Realtyauctionsonline.com reserves the right to invalidate the auction unless the Bidder has made alternate payment arrangements agreed to by Realtyauctionsonline.com prior to auction close.
Bidder agrees that chargebacks requested through Bidder’s issuing bank are an unacceptable charge dispute resolution method. Bidder agrees to not dispute any charges from Realtyauctionsonline.com and agrees to not initiate any chargebacks with Bidder’s issuing bank. Bidder further agrees to immediately pay to Realtyauctionsonline.com any chargebacks of amounts originally charged to such Bidder’s bank account, as well as for fees incurred to Realtyauctionsonline.com for such chargebacks. Bidder’s responsibility for chargebacks and related fees will continue even if Bidder has received the funds, and/or closed the Realtyauctionsonline.com account. Realtyauctionsonline.com reminds all Bidders that by bidding on a property at auction on Realtyauctionsonline.com, they are legally bound by these Terms of Service, and as such, any chargebacks will additionally subject member to civil and criminal charges, in which Realtyauctionsonline.com may take action in a court of law.
IV. Rights and Responsibilities of Realtyauctionsonline.com
4.1 MODIFICATIONS TO TERMS OF SERVICE
Realtyauctionsonline.com may change these Terms of Service from time to time. Any amendment shall be effective immediately without notice upon posting on the Site. Member’s continued use of the Site constitutes an affirmative: (1) acknowledgment by Member of these Terms of Service and any modifications; and (2) agreement by Member to abide and be bound by these Terms of Service, including any modifications. Both the Seller and Buyer acknowledge that they shall be solely responsible for obtaining updated information concerning changes to these Terms of Service. It is further acknowledged by the Member that the Terms of Service in effect at the time that a dispute shall arise shall control in all matters.
4.2 SUPERVISION OF CONTENT
Realtyauctionsonline.com reserves the right to supervise all material, content and information on its Site, including, but not limited to, Property listings and bidding activity, to determine compliance with the Terms of Service and all current and future operating procedures and rules of conduct established by Realtyauctionsonline.com. Realtyauctionsonline.com reserves the right, at its sole discretion, to amend, edit, remove or otherwise block any material posted by a Member, which may violate any state, federal or local law or violate any aspect of these Terms of Service or which may otherwise jeopardize the business operations or goals of Realtyauctionsonline.com. Realtyauctionsonline.com shall not be responsible for material content and information contained on this Site that is provided by the Members, and all parties agree to hold Realtyauctionsonline.com harmless with regard to same pursuant to the limitation of liabilities, and release and indemnification provisions contained in these Terms of Service.
4.3 TERMINATION OF MEMBER’S RIGHTS TO USE SITE
Realtyauctionsonline.com retains the right to terminate a Member’s rights to use the Site. The Member agrees that Realtyauctionsonline.com may, in its sole discretion, terminate a Member’s account, deny access to the site, and terminate any active auctions. Cause for such termination shall include, but not be limited to, (a) breaches or violations of the Terms of Service or other incorporated agreements or guidelines, (b) requests by law enforcement or other government agencies, (c) unexpected technical or security issues or problems, (d) actions which might jeopardize the business operations or goals of Realtyauctionsonline.com, and (e) extended periods of inactivity. Termination of the Realtyauctionsonline.com account includes removal of access to all offerings within the site, and deletion of password and all related information, files and content associated with or inside the account. Further, the Member agrees that all terminations shall be made in Realtyauctionsonline.com’s sole discretion and that Realtyauctionsonline.com shall not be liable to the Member or any third-party for any termination of an account or access to the site. If it is suspected, in Realtyauctionsonline.com’s sole discretion, that a Member has participated in fraudulent behavior on the Web site, Realtyauctionsonline.com reserves the right to suspend a Member’s account at any time, remove any active auctions, and give Buyers of recent auctions the opportunity to withhold performance without penalty.
4.4 COMMUNICATION WITH MEMBERS
Members may receive notification of new Property listings and other opportunities available to Sellers or Buyers. Realtyauctionsonline.com also relies on electronic messaging to keep its Members informed of events on its Site and the Member agrees to allow Realtyauctionsonline.com to so communicate. Member agrees to add Service@RealtyAuctionsOnline.com to Member’s “contacts” list in their email account, to ensure proper delivery of important notifications.
4.5 NATURE OF REALTYAUCTIONSONLINE.COM’S RESPONSIBILITIES
Realtyauctionsonline.com agrees to act with respect to each Realtyauctionsonline.com transaction in accordance with these Terms of Service. The duties and responsibilities of Realtyauctionsonline.com and its affiliates shall be limited to those expressly set forth in these Terms of Service. Realtyauctionsonline.com shall not be subject to, or obliged to recognize, any other agreement between, or direction or instruction of, any or all of the parties to any such Realtyauctionsonline.com transaction.
MEMBER ACKNOWLEDGES AND AGREES THAT REALTYAUCTIONSONLINE.COM’S DUTIES ARE MINISTERIAL IN NATURE. REALTYAUCTIONSONLINE.COM IS MERELY A FACILITATOR AND PROVIDES TRANSACTIONAL ASSISTANCE TO ITS MEMBERS AND IS NOT A PRINCIPAL TO ANY TRANSACTION. REALTYAUCTIONSONLINE.COM SHALL NOT AND DOES NOT TAKE TITLE OR OWNERSHIP OF ANY PROPERTY OR FUNDS HELD BY IT. TITLE TO SUCH PROPERTY OR FUNDS SHALL BELONG TO THE SELLER OR BUYER, AS THE CASE MAY BE, AND SHALL BE HELD AND DISPOSED OF IN ACCORDANCE WITH THE TERMS AND CONDITIONS CONTAINED IN THESE TERMS OF SERVICE OR AS OTHERWISE AGREED UPON BETWEEN BUYER AND SELLER. ANY DISPUTES AND/OR DISAGREEMENTS BETWEEN BUYER AND SELLER MUST BE ADDRESSED BETWEEN BUYER AND SELLER, AND MEMBER EXPRESSLY AGREES NOT TO HOLD RESPONSIBLE, REALTYAUCTIONSONLINE.COM OR ANY OF ITS EMPLOYEES, REPRESENTATIVES OR AFFILIATES IN ANY WAY OR IN ANY MANNER. MEMBER ACKNOWLEDGES AND AGREES THAT NEITHER REALTYAUCTIONSONLINE.COM NOR ANY OF ITS EMPLOYEES, REPRESENTATIVES OR AFFILIATES (WITH THE EXCEPTION OF AFFILIATE COMPANIES OWNING REAL ESTATE “IN-HOUSE”) ENDORSES ANY OF THE PROPERTIES THAT ARE TRANSFERRED THROUGH THE SITE AND THAT NEITHER REALTYAUCTIONSONLINE.COM NOR ITS EMPLOYEES, REPRESENTATIVE OR AFFILIATES (WITH THE EXCEPTION OF AFFILIATE COMPANIES OWNING REAL ESTATE “IN-HOUSE”) IS RESPONSIBLE FOR ANY DAMAGES TO GOODS DURING TRANSIT NOR FOR MISREPRESENTATIONS AND/OR BREACHES OF CONTRACT BY EITHER BUYER AND/OR SELLER. REALTYAUCTIONSONLINE.COM AND ITS EMPLOYEES, REPRESENTATIVES AND AFFILIATES SHALL ALSO BE FULLY PROTECTED IN RELYING UPON ANY WRITTEN NOTICE, DEMAND, CERTIFICATE OR DOCUMENT, WHICH IT IN GOOD FAITH BELIEVES TO BE GENUINE. NEITHER REALTYAUCTIONSONLINE.COM NOR ITS EMPLOYEES, REPRESENTATIVES OR AFFILIATES SHALL INCUR ANY LIABILITY WHATSOEVER, AND BOTH BUYER AND SELLER SHALL INDEMNIFY THE EMPLOYEES, REPRESENTATIVES AND AFFILIATES OF REALTYAUCTIONSONLINE.COM, WITH REGARD TO THEIR CONDUCT IN OPERATING OR MAINTAINING THIS WEBSITE OR IN THE FULFILLMENT OF THEIR DUTIES AS EMPLOYEES REPRESENTATIVES OR AFFILIATES OF REALTYAUCTIONSONLINE.COM AS MORE FULLY DESCRIBED IN THE RELEASE AND INDEMNIFICATIONS CONTAINED HEREIN.
V. Other Provisions
5.1 DISCLAIMER OF WARRANTIES
MEMBERS EXPRESSLY AGREE THAT USE OF THE SITE IS AT A MEMBER’S SOLE RISK. THE SITE IS PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS. REALTYAUCTIONSONLINE.COM EXPRESSLY DISCLAIMS ANY AND ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. REALTYAUCTIONSONLINE.COM MAKES NO WARRANTY THAT THE SERVICES PROVIDED ON THE SITE WILL MEET A MEMBER’S REQUIREMENTS, OR THAT SUCH SERVICES WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR FREE; NOR DOES REALTYAUCTIONSONLINE.COM MAKE ANY WARRANTY AS TO THE RESULTS THAT MAY BE OBTAINED FROM THE USE OF THE SITE OR AS TO THE ACCURACY OR RELIABILITY OF ANY INFORMATION OBTAINED THROUGH THE SITE OR THAT DEFECTS IN ANY SOFTWARE WILL BE CORRECTED. REALTYAUCTIONSONLINE.COM MAKES NO WARRANTY REGARDING ANY GOODS OR SERVICES PURCHASED OR OBTAINED THROUGH THE SITE OR ANY TRANSACTIONS ENTERED INTO THROUGH THE SITE. NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED BY MEMBER FROM REALTYAUCTIONSONLINE.COM OR ANY OF ITS EMPLOYEES, REPRESENTATIVES OR AFFILIATES OR THROUGH THE SITE SHALL CREATE ANY WARRANTY NOT EXPRESSLY MADE HEREIN.
5.2 LIMITATION OF LIABILITY
IN NO EVENT SHALL REALTYAUCTIONSONLINE.COM OR ANY OF ITS EMPLOYEES, REPRESENTATIVES OR AFFILIATES BE LIABLE TO A MEMBER OR ANY OTHER PERSON OR ENTITY IN CONNECTION WITH THIS AGREEMENT FOR ANY ACTUAL, SPECIAL, CONSEQUENTIAL, INCIDENTAL OR RELIANCE DAMAGES (OR ANY LOSS OF REVENUE, PROFITS OR DATA), HOWEVER CAUSED, WHETHER FOR BREACH OF CONTRACT, NEGLIGENCE OR UNDER ANY OTHER LEGAL THEORY, WHETHER FORESEEABLE OR NOT AND WHETHER OR NOT A MEMBER HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGE, AND NOTWITHSTANDING THE FAILURE OF ESSENTIAL PURPOSE OF ANY LIMITED REMEDY. BOTH PARTIES AGREE THAT THESE LIMITATIONS OF LIABILITY ARE AGREED ALLOCATIONS OF RISK AND ARE REFLECTED IN THE FEES AGREED UPON BY THE PARTIES. ADDITIONALLY BOTH BUYER AND SELLER, RESPECTIVELY AGREE TO INDEMNIFY REALTYAUCTIONSONLINE.COM AGAINST ANY AND ALL CLAIMS ARISING OUT OF THE LIMITATION OF LIABILITY CONTAINED HEREIN AND DESCRIBED MORE FULLY IN RELEASE AND INDEMNIFICATIONS CONTAINED HEREIN.
5.3 NO RESALE OR COMMERCIAL USE OF THE SERVICES PROVIDED ON THE SITE
Member’s right to use the Site is personal to Member. Member agrees not to resell or make any commercial use of the services provided on the Site, without the express written consent of Realtyauctionsonline.com. Member acknowledges that content appearing on the Site may be protected by copyrights, trademarks or other proprietary or personal rights and that applicable laws will govern the Member’s use of such content. Member agrees that without the prior written consent of Realtyauctionsonline.com, Member shall not resell the Site, or the services provided on the Site, or use the Site for the transmission of commercial solicitations (other than an offer by Seller of Properties for sale) or for the receipt of responses to commercial solicitations (other than a Buyer’s interest in purchasing Properties offered for sale through the Site) without the express written consent of Realtyauctionsonline.com. Member agrees not to, for a commercial purpose, upload, transmit, reproduce, distribute or participate in the transfer or sale, or in any way exploit, any content obtained through the Site. Member agrees not to use the Site for the transmission of (or receipt of responses to) chain letters, lotteries, gambling or pyramid schemes of any kind. Member agrees not to use the Site to disseminate any message in a broad-based mailing without the prior written permission of Realtyauctionsonline.com. Member agrees not to forge communications or take any other action that would disguise the origin of communications Member transmits through the Site. Member agrees not to permit another person to transmit communications that falsely identifies the Member’s account as the origin of such communication.
5.4 MEMBER CONDUCT
Member is solely responsible for the contents of his/her/its transmissions through the Site. Member’s use of the Site is subject to all applicable local, state, national and international laws and regulations. Member agrees: (1) to comply with US law regarding the transmission of technical data exported from the United States through the Site; (2) not to use the Site for illegal purposes; (3) not to interfere or disrupt networks connected to the Site; (4) to comply with all regulations, policies and procedures of networks connected to the Site; (5) not to post any information which is meant to be deceptive or knowingly inaccurate; and (6) to refrain from infringement on any material posted on the Realtyauctionsonline.com Site, including information posted by other Members, that is copyrighted, patented, trademarked or similarly protected under proprietary rights or rights of privacy. Member agrees not to transmit through the Site any unlawful, harassing, libelous, abusive, threatening, harmful, vulgar, obscene or otherwise objectionable material of any kind or nature. Member further agrees not to transmit any material that encourages conduct that could constitute a criminal offense, give rise to civil liability or otherwise violate any applicable local, state, national or international law or regulation. Attempts to gain unauthorized access to other computer systems are prohibited. Member further agrees not to use the Site in a manner that violates any Federal, state or local laws or statute.
Member email contact information is provided to facilitate the purchase and sale of Properties posted on the Site. Use of this contact information to transact purchase and sale of items, whether posted on the Site or similar items, is a violation of these Terms of Service. Realtyauctionsonline.com is due normal fees on all such purchase and sale transactions consummated in circumvention of the Realtyauctionsonline.com Site.
Realtyauctionsonline.com may terminate any Member’s account immediately, in our sole discretion, if we believe that the Member’s conduct fails to conform to this Section of this Agreement. Without limiting the foregoing, if Member uses, or attempts to use, the services for any purposes other than our intended purposes, including but not limited to tampering, hacking, modifying or otherwise corrupting the security or functionality of the services, Member’s account will be terminated and you may also be subject to civil and criminal liability.
5.5 NOTICES – DEFINITIONS
Sold Notices and other notices given by Realtyauctionsonline.com shall be valid when sent by email to the email address the member’s most current email address on file Realtyauctionsonline.com. The term “Buyer”, “Bidder”, “Seller”, and “Member” includes corporations, partnerships, persons, agents, representatives and any legal entity entitled to participate in the Site.
5.6 RELEASE AND INDEMNIFICATION
Notwithstanding any other release, agreement to “hold harmless” or indemnification contained herein, Member hereby further waives, releases, forgives, discharges and relinquishes any and all claims that Member now has or may have against Realtyauctionsonline.com, its affiliates, subsidiaries, parents, shareholders, directors, officers, employees, agents and representatives which are connected with, arise out of, relate to or are incidental to any Realtyauctionsonline.com transaction or the use of the Site. Member hereby agrees to indemnify, defend and hold Realtyauctionsonline.com, its affiliates, subsidiaries, parents, shareholders, directors, officers, employees, agents and representatives harmless from and against any and all claims, loss, damage, tax, liability and/or expense that may be incurred by Realtyauctionsonline.com, its affiliates, subsidiaries, parents, shareholders, directors, officers, employees, agents and representatives arising out of or in connection with the performance of its duties as described in this Agreement, including the legal costs, fees and expenses of defending itself against any claim by any or all of the parties to any Realtyauctionsonline.com transaction and/or by any other person and/or as a result of the Member taking any action or refraining from taking any action or instituting or defending any action or legal proceeding. Member further agrees to indemnify and hold Realtyauctionsonline.com, its affiliates, subsidiaries, parents, shareholders, directors, officers, employees, agents and representatives harmless from any claim or demand, including reasonable attorneys’ fees, made by any third party due to or arising out of Member’s use of the Site, the violation of these Terms of Service by Member, or the infringement by Member, or other Member of the Site using Member’s computer, of any intellectual property or other right of any person or entity. If you are a California resident, you waive California Civil Code §1542, which says: “A general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor.”
5.7 RESOLUTION OF DISPUTES
(a) Resolution of Disputes Generally. MEMBER ACKNOWLEDGES AND AGREES THAT ANY DISPUTE INVOLVING REALTYAUCTIONSONLINE.COM SHALL BE RESOLVED SOLELY IN ANY COURT OF COMPETENT JURISDICTION LOCATED IN BUTTE COUNTY, STATE OF CALIFORNIA. MEMBER FURTHER ACKNOWLEDGES AND AGREES THAT THEY SHALL BE RESPONSIBLE FOR ALL COSTS TO ENFORCE THIS AGREEMENT, INCLUDING REASONABLE ATTORNEY’S FEES AND COURT COSTS. MEMBER ADDITIONALLY ACKNOWLEDGES AND AGREES THAT THEY SHALL BE RESPONSIBLE FOR ALL COSTS ASSOCIATED WITH THE COLLECTION OF FEES DUE TO REALTYAUCTIONSONLINE.COM, INCLUDING BUT NOT LIMITED TO ATTORNEY’S FEES, COURT COSTS PLUS AND OTHER FEES.
(b) Dispute Resolution Assistance. While Realtyauctionsonline.com is not responsible for resolution of any disputes between Members, Realtyauctionsonline.com may at its sole discretion assist Members involved in a dispute. Any assistance requested from Realtyauctionsonline.com must be in writing for review and consideration. Realtyauctionsonline.com is in no way responsible for resolving the dispute between Members, nor does assistance provided by Realtyauctionsonline.com relieve the Members from their responsibilities under these Terms of Service.
Realtyauctionsonline.com is authorized, in its sole and absolute discretion, to commence an action to interplead the funds in dispute, if applicable, either in the state or federal courts in California, in the jurisdiction of which a Member irrevocably consents, or in a court located where one or more of the parties to the dispute resides. The Member agrees that the decision of the courts in the interpleader action shall be final and binding upon the parties. Member further agrees that Realtyauctionsonline.com shall be entitled to recover its reasonable costs of bringing the interpleader action, including its reasonable attorneys’ fees, from the disputed funds.
5.8 NO AGENCY
Realtyauctionsonline.com is an independent contractor, and no agency, partnership, joint venture, employee-employer or franchiser-franchisee relationship is intended or created between the Member and Realtyauctionsonline.com by these Terms of Service.
5.9 APPLICABLE LAW AND OTHER TERMS
These Terms of Service shall be governed by and construed in accordance with the laws of the State of California. If any provision(s) of these Terms of Service is held by a court of competent jurisdiction to be contrary to law, then such provision(s) shall be construed, as nearly as possible, to reflect the intentions of the parties with the other provisions remaining in full force and effect. Realtyauctionsonline.com’s failure to exercise or enforce any rights or provisions of these Terms of Service shall not constitute a waiver of such right or provision unless acknowledged and agreed to by Realtyauctionsonline.com in writing.
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