Bidder Terms

RealtyBid International, LLC, ("RBI") has agreements with various individuals and corporations, etc. ("Sellers") to market and advertise certain properties and/or financial instruments ("Property" or "Properties") through its various online advertising and auction sites, including RealtyBid.com, CommercialBid.com and CondoBid.com. All properties offered on RBI's websites shall be offered subject to the Sellers' approval of the price and final terms and conditions. The Properties shall be offered through an Internet auction process with a specified opening and closing date.

The first step to using this site effectively is Registration. Registration is currently free and is necessary to unlock many of the site's more useful features; please review How to Bid and Helpful Site Features.
BidAssist, as explained in the Helpful Site Features, is "highly" recommended to help you at the conclusion of bidding. This feature allows the computer to bid for you up to your maximum bid. It is protection against a last minute bid preventing you from winning a property. Also, because different computers have different connection speeds, waiting until the last 5 or 10 seconds to place your bid is not recommended.

Prospective bidders and interested parties may view general information about a property just by clicking the links to the property's Bid Page. Additional property information may also be available by clicking additional links located on a particular property's Bid Page.

If you elect to bid on a property, you must be registered to do so; however, you do not have to be registered in order to view bids for a property. All bids are open and displayed for public viewing unless otherwise noted. You can bid on properties either from a property's Bid Page or from your My Properties listing page, which can display multiple properties for a bidder to monitor or place bids on. The My Properties area only has abbreviated information about each property but is a great tool if multiple properties are being monitored.

Each site user shall act with honesty and integrity while on the site; otherwise, user privileges shall be revoked. Each bidder shall review and adhere to the Terms of Sale for each individual property listed on the site. RealtyBid.com may suspend your account and seek legal remedies if the site's staff at any time suspects that either as a buyer or seller, you have committed or engaged in fraud or fraudulent activities relating to transactions on the site. Any bidder making fraudulent bids on this site or defaulting on properties won shall be banned from the site indefinitely without any recourse from the bidder.

RBI's services are available only to individuals who can form legally binding contracts under applicable law. RBI's services are not available to minors or to previously suspended RBI users. If you register as a business entity, by placing a bid, you represent that you have the authority to bind the entity to this Agreement and other real estate related agreements.

Property Notifications: To register to receive "email notifications" about properties in your specified areas of interest, you must fill out a simple email registration form by clicking the Property Notifications link.

Bidder Registration: Bidding on this site is a very simple but sophisticated process. If you intend to bid on a property, in most cases, registration is all that is required. In some cases, you will need to follow the additional Specific Bid Instructions to bid on that property. Bidder information and password information is confidential and may not be shared or transferred to another party.

If you intend to bid on a property, it is highly recommended that you register at least 72 hours prior to the close of the bidding, just as a precaution against any potential registration problems.

There are no fees required to bid; however, you will need a valid credit card in order to register and bid. If you win a property and default on the contract or do not return the contract, your credit card will be charged a default penalty fee of at least $350, and you may be banned from future use of the site.

Currently, registration for all RBI websites is free; however, we reserve the right to change our Site Terms at any time relating to fees and other items mentioned or not mentioned in this published document. Changes to the policy are effective after we have posted the new Site Terms for at least five (5) consecutive days. We may in our sole discretion change any or all of our services at any time. If a change occurs in a particular service, the fees for that service are effective at the introduction of the service. Each Property will be subject to an Internet Transaction Fee (a.k.a. Buyer's Premium) added to it as defined in the description box for each property, to be paid by the BUYER at the closing. The bidding will not reflect the buyer's premium, but the Purchase Agreement shall include the buyer's premium through a RealtyBid Addendum, which shall be attached to the Purchase Agreement and signed by both Buyer and Seller.

If there are any discrepancies between the terms and conditions outlined on this site and the terms outlined in the Purchase Agreement, the terms in the Purchase Agreement shall prevail, so read the Purchase Agreement carefully. All dates and times listed on this site supercede any advertisements or printed statements.

Once an online bidding event concludes, neither the Seller nor RBI is under any obligation to negotiate with any bidder. All properties will be sold on a "first come, first served" basis by the Seller.

Each Seller on this site reserves the right to have final approval and acceptance of any and all Purchase Agreements submitted by any broker or bidder, regardless of information provided by this site, any broker, or any RealtyBid.com employee or affiliate to the contrary.

RBI provides an online real estate transaction venue that allows for the bidding and transfer of properties via a public forum. RBI does not hold itself out to be a real estate broker or agent, nor does it claim to act on behalf of buyers or sellers, even though it does hold real estate and auctioneer licenses in numerous states. RBI does claim to provide an efficient and sophisticated platform that allows sellers to advertise their properties to willing and able buyers. All Listing Brokers identified with a property on this site are agents of the Seller, not the Buyer. If a disruption of Internet bidding service (such as a power outage) occurs at the end of an event, RBI reserves the right to extend that particular event for a 24-hour period in order to provide bidders a fair chance to compete for the purchase of a property.