bidEup Your Online Marketplace, submit offers, execute real estate contracts

ALL POTENTIAL SELLERS AND BUYERS MUST AGREE TO THESE TERMS BEFORE REGISTERING ALL BIDS/OFFERS MADE THROUGH THIS SITE ARE LEGALLY ENFORCEABLE OFFERS. DO NOT PLACE A BID/OFFER ON THIS SITE THAT YOU DO NOT INTEND TO OR ARE INCAPABLE OF HONORING.
The following are the Terms and Conditions for Buyers on bidEup.com (the "Site"). Information and terms specific to a particular auction or property will take precedence over the terms contained herein. 1. All users of this site must be eighteen years old or older or companies in good standing in its local jurisdiction. All persons or entities using this site must have the legal capacity to enter into binding contracts. 2. In order to place an offer/bid on this Site, you must complete the registration process. Buyers must secure a lender commitment from a bidEup approved lender or provide proof of clear funds. Buyers may apply for a lender commitment with one of bidEup's approved lender through this site. Lender commitments and proof of funds can be emailed through the site or faxed to (202) 664-1313. By placing an offer on this Site you are confirming that the information you provided to us during the registration process is truthful and accurate. Additionally, when making an offer/bid on this site, you will be submitting a legally binding offer. Each offer made will be accompanied by an electronically executed contract for sale. The terms of the contract for sale have been previously set and or accepted by the owner or representative thereof. It is strongly suggested that the buyers be represented by a licensed real estate agent or seek some other real estate professional consultation before placing an offer/bid on this site. bidEup has a network of real estate agents that we recommend. You can connect with our network of professionals through our site by clicking the "Find An Agent" button on the site. 3. Properties are offered for sale on this Site to only qualified buyers ("Buyers") without regard to actual or perceived race, color, religion, national origin, sex, age, marital status, personal appearance, sexual orientation, gender identity or expression, familial status, family responsibilities, disability, matriculation, political affiliation, source of income, or place of residence or business of any individual. 4. All Realtors representing prospective buyers ("selling agents") must have their clients enter the agent's contact information in the registration page. Agents may register on behalf of their clients, or be identified by such buyers, prior to commencement of an offer on a particular online sale. Registration allows bidEup to confirm licensee information and it is the only way to ensure a commission will be paid to a selling agent at settlement. 5. Prospective Buyers are directed to search the public and land records of the jurisdiction where the property is located determine any tax, regulatory, zoning, environmental or other matters concerning the property. Buyers are further strongly advised to physically inspect the property, consulting with such advisors and professionals as they deem appropriate in their individual discretion. All visitors to a Property must provide their full names and contact information and to read any terms and conditions specific to the Property prior to conducting the inspection. 6. Each property will be sold in its "AS-IS, WHERE-IS" condition. Neither bidEup, nor the seller(s), their agents, employees or representatives make or intend any expressed or implied warranties of any kind concerning the Property. The information listed in materials describing the Property is obtained from sources that are deemed reliable but not guaranteed. As such the information cannot be relied upon for any purpose other than as a starting point for Buyers' due diligence. All Buyers must independently investigate and confirm any information or assumptions upon which any bid is based. It is the Buyer's responsibility to verify all property information prior to bid and sale. Neither bidEup nor the sellers make or have made any representation or warranty with respect to the accuracy, correctness, or completeness of the information, or the valuation of the property to which it pertains. Any decision to purchase or not purchase the property is the sole and independent business decision of each Buyer. bidEup assumes no liability for any errors or the correctness of information. No recourse or cause of action will lie against bidEup, the seller(s), or their agents, employees or representatives should the winning Buyer later become unhappy with his or her decision to purchase the property. The purchaser shall look only to the property owner as to all matters regarding the property. bidEup shall not be responsible or liable in any way if the owner fails to honor the bid, or refuses to settle or cannot close in accordance with the Sales Contract or if property is in any way not satisfactory to the Buyer. 7. bidEupPER is recommended to help you at the conclusion of bidding. This feature allows the system to automatically bid for you up to your maximum bid. It is comparable to an escalation clause addendum in the typical real estate sales contract; and if used properly can provide protection against a last minute bid preventing you from winning a Property. Because different computers have different connection speeds, waiting until the last moments of bidding in an auction to place your bid is not recommended for any Buyer who is truly interested in a given Property. To use all you must do is enter your highest bid amount when bidding and the system will progressively increase your bid in increments of $500 up and until you have reached your maximum bid amount. 8. bidEup may withdraw any property from sale and/or may cancel any auction prior to the start of bidding. Auctions will be either Absolute or Reserve. If an auction is not clearly advertised by bidEup as Absolute, a Reserve auction will take place. If Absolute, the high Buyer at auction shall be the purchaser. If Reserve, the seller may accept or reject the high bid; provided, however, that if a bid exceeds the predetermined reserve, the auction becomes an Absolute auction and the property will be sold to the high Buyer. Should there be any dispute after the sale, bidEup's record of final sale shall be conclusive. 9. The winning Buyer at the sale (the "Purchaser") will, by having previously read, understood and agreed to these Buyer Terms, insert his or her electronic signature on the Sales Contract. The Seller will automatically ratify said Sales Contract by electronic signature. At that time an initial deposit in the advertised amount (the "Deposit") will be due from the Purchaser. If the Purchaser has not previously provided bidEup with certified funds sufficient to cover the Deposit or made prior arrangements (such as through a qualified intermediary), the Purchaser expressly agrees that the first One Thousand Dollars ($1,000.00) of the Deposit will be automatically and immediately charged to the credit card provided at registration. The balance of the Deposit is to collected from the bank account identified by the Purchaser at registration (the "Buyer's Account"). 10. In addition to the Deposit, a usage fee in the amount of one percent (1%) of the winning bid will be due from the Purchaser immediately. The Fee is (i) in addition to and separate from the winning bid; (ii) not to be considered commission related to the sale of real estate but rather a fee associated with bidEup's online services; and (iii) non-refundable, except in the event the Seller cannot convey marketable title. The Fee will be collected from the Buyer's Account immediately upon conclusion of the online auction by electronic funds transfer. Make sure sufficient funds are available in the account. IMPORTANT: A failure to provide the full Deposit or Fee or to settle by the Settlement Date reflected in the Sales Contract will subject a defaulting Purchaser to the election by the seller and/or bidEup of various remedies. Read and understand the [Sales Contract] prior to bidding. 11. Settlement is to take place within thirty (30) calendar days of the online sale date. Accordingly, secure any necessary financing and select a settlement agent immediately. If you do not select a settlement agent within five (5) days of the auction sale, you will be deemed to have voluntarily selected the settlement agent of bidEup's choosing. The failure of a Purchaser to settle within the thirty (30) day window (through no fault of the seller) will amount to a default, and, among other things, (1) the Deposit can be forfeited, and (2) the purchaser can be held responsible for all costs, expenses and damages in the event of a re-sale. The deposit may not be the full extent of liability for a defaulting purchaser. The seller may resell the property for considerably less than the defaulting purchaser had agreed to pay, and that deficiency would be an element of the seller's claim against the defaulting purchaser. 12. bidEup, in addition to asserting all remedies available by law, including the right to hold the defaulting purchaser liable for the agreed purchase price, may either (1) cancel the sale, retaining as liquidated damages any payment made by such purchaser, (2) resell the property without reserve at public auction or privately on ten (10) days' notice to such purchaser, or (3) take such other action as bidEup deems necessary or appropriate. If bidEup resells the property, the defaulting purchaser will be liable for payment of any deficiency in the purchase price and all costs and expenses, the expenses of both the original auction sale and the re-sale, reasonable attorneys' fees, incidental damages and all other related charges. 13. If any Buyer who was introduced to a Property through bidEup at any time during the 90 days period following conclusion of a bidEup Online Marketing Agreement with a Seller to purchase the property, he or she shall be responsible to bidEup for a usage fee of 1% of the sale price. 14. bidEup shall not be liable for any loss or damages if bidding is disrupted by Internet or system malfunctions. In certain circumstances and in its sole discretion bidEup reserves the right to extend any auction for a 24-hour period in order to provide Buyers a fair chance to compete for the purchase of a Property. 15. bidEup does not engage in real estate brokering, selling, auctioning, and does not represent persons who are in engaged in the same. Rather, bidEup provides an online automated market place for the users to purchase and sell property. bidEup is not a "multiple listing" service. It is the responsibility of the Listing Agent to ensure the accuracy of the information posted for each property and that all the legally required disclosures are uploaded to conform to the governing laws. bidEup does not purport to create a fiduciary or agent relationship with any users of its site. ALL POTENTIAL SELLERS MUST AGREE TO THESE TERMS BEFORE REGISTERING The following are the Terms and Conditions for Sellers on bidEup.com (the "Site"). Information and terms specific to a particular property or sale will take precedence over the terms contained herein. 1. All users of this site must be eighteen years old or older or companies in good standing in its local jurisdiction. All persons or entities using this site must have the legal capacity to enter into binding contracts. 2. bidEup.com will only allow properties to be posted that are currently listed with an active, licensed real estate agent ("Listing Agent"), offered by builders, or, under certain circumstances, which are owned by financial institutions or corporations. 3. If there are any discrepancies between the Terms of Use outlined on this site, including these Seller's Terms, and the terms outlined in the Marketing Agreement ("Marketing Agreement") or a Sales Contract, the terms in the Marketing Agreement or Sales Contract, as the case may be, shall prevail, so please read all documentation carefully. All dates and times listed on the Site supersede any advertisements or printed statements. 4. In order to sell a particular property ("Property") through bidEup.com, each Owner of a Property, the Listing Broker and bidEup, Inc. enter into a Marketing Agreement. Sellers upon execution of the Online Marketing Agreement make a non-refundable payment to bidEup, Inc. in the amount of $125.00 (the "Marketing Fee") for one (1) online sale and upload to the site all applicable disclosure documents. The Auction Fee must be paid through the Site. 5. The Listing Agent will then modify the listing of the Property in the local multiple listing service to reflect, among other things, that the Property is being sold at auction through bidEup.com during the specified time of the Marketing Agreement. Seller and Listing Agent understand and agree that once a Property is placed on bidEup.com, all offers received by the Seller or Listing Broker during the term of the Marketing Agreement shall be made through and entered into the Site. No offer shall be considered "outside" the online sale process. Listing Agent is responsible to ensure that all information entered on this site is in fact accurate 6. In the Marketing Agreement, Sellers agree that at the conclusion of the online sale process via an auction or other method the Seller receives an offer/bid that is equals or exceeds the condition set by the Listing Agent and Owner that offer will immediately be accepted and automatically be signed by the Owner thereby creating a binding sales contract. For example if this is an Absolute Auction (an auction without a Reserve), at the conclusion of the auction the highest bid will be immediately accepted and the Sales Contract automatically executed and electronically signed by the Seller. If the auction is a Reserve Auction (an auction with a predetermined yet undisclosed minimum bid requirement), at the conclusion of the auction the highest bid, if any, that exceeds the Reserve will be immediately accepted and the Sales Contract and automatically and electronically signed by the Seller. Consequently, all winning bids will result in an instantly ratified Sales Contract. 7. bidEup, Inc. will determine, in its sole and absolute discretion, the opening bid advertised on the Site. 8. Prospective bidders that have been pre-qualified by one of our national lender partners or other lending institutions will be bidding on the Property through legally enforceable offers. The winning bidder (the "Purchaser") will pay bidEup, Inc. a Fee equal to one percent (1%) of the final bid for its online services. The Fee is not to be considered commission relating to the sale of real estate but rather a fee associated with bidEup, Inc.'s online services. 9. The Seller will pay at settlement, in accordance with the listing agreement it has with the Listing Broker, any real estate commissions and administrative fees. Commission information shall be displayed on the Site. 10. Should the Property fail to sell through the online process, the Seller must notify bidEup.com if, during the ninety (90) day period commencing with the end of the sale, any person who was exposed to the Property during term of the Online Marketing Agreement enters into a Sales Contract with Seller. bidEup shall have earned and be legally entitled to its 1% Fee under such circumstances. A Seller's failure to so notify bidEup.com could lead to the Seller being held responsible for the same jointly and severally with the Purchaser. 11. By using the Site each Seller is agreeing to provide complete and accurate information relating to Property. 12. The bid/offer price shall not be artificially inflated by any means. Any person who engages in such practices will have their Site privileges revoked and may be subject to further sanctions or relief. 13. Any person who engages in fraudulent activities on or off the Site or who breaches the terms of the Online Marketing Agreement or any Terms of Use will be banned from the site indefinitely without any recourse. Sales in process may be terminated. 14. The management of bidEup.com reserves the right to reject any Seller or any Property in its sole and absolute discretion. 15. All sales are public in nature, unless otherwise denoted in the information concerning the Property. 16. bidEup, Inc. makes no warranties regarding its ability to obtain a bid/offer or an acceptable price for a Property. 17. Each offer/bid is legally binding, as buyers will be executing contracts for sales that are provided by bidEup, Inc. Sellers must review the form contract and accept its terms before posting their property for sale on this site. If a Seller would like to substitute their contract for the form contact provided by this site, then the Seller or their agent must make arrangements with bidEup.com before proceeding. bidEup does not engage in the practice of law and does not provide legal representation. It is suggested that all users seek independent advise from a real estate professional or legal counsel before entering agreeing to use the form contract provided. You can download the form contract from the site. 18. bidEup does not engage in real estate brokering, selling, auctioning, and does not represent persons who are in engaged in the same. Rather, bidEup provides an online automated market place for the users to purchase and sell property. bidEup is not a "multiple listing" service. It is the responsibility of the Listing Agent to ensure the accuracy of the information posted for each property and that all the legally required disclosures are uploaded to conform to the governing laws. bidEup does not purport to create a fiduciary or agent relationship with any users of its site.
I agree to above terms	Review contract for sale here Online Marketing Agreement
Note: bidEup.com is owned and operated by legal professionals who are obligated to report any and all suspected illegal activity by its users to the proper authorities.