Terms of Use

THIS PERTAINS TO ALL USERS PLEASE READ CAREFULLY

Welcome to BidaBing.com. If you continue to browse and use this website you are agreeing to comply with and be bound by the following terms and conditions of use, which together with our privacy policy govern BidaBing Corporations relationship with you in relation to this website. The term “BidaBing.com” or “us” or “we” refers to the owner of the website

In order to ensure the BidaBing users the experience we intended for them, all individuals that wish to subscribe to bidabing.com’s services must acknowledge and accept all terms and conditions that bidabing.com has set forth. Any user in violation, or in suspected violation of any single or part of any term or condition will have their bidabing.com account and membership seized and canceled, with a possibility of legal ramification as set forth by the laws of the United States of America.

The term “you” refers to the user or viewer of our website. The use of this website is subject to the following terms of use:

· The content of the pages of this website is for your general information and use only. It is subject to change without notice.

· Neither we nor any third parties provide any warranty or guarantee as to the accuracy, timeliness, performance, completeness or suitability of the information and materials found or offered on this website for any particular purpose. You acknowledge that such information and materials may contain inaccuracies or errors and we expressly exclude liability for any such inaccuracies or errors to the fullest extent permitted by law.

· Your use of any information or materials on this website is entirely at your own risk, for which we shall not be liable. It shall be your own responsibility to ensure that any products, property, services or information available through this website meet your specific requirements.

Buyers acknowledge that your use of the site may be monitored by the realtor on file. You may change the realtor on file at anytime. You must conclude any transaction with a registered BidaBing.com licensed agent.

Bidabing Corporation is affiliated with mortgage businesses, lenders and real estate brokerages. It is our goal to market within the site only to users without representation. It is our strict policy that users with their own agents or mortgage brokers are not to be contacted.

Cancellation Policy

· If you subscibe to have use of any part of our site, you may request to cancel your subscription at any time from within your account tab. Any cancellation will be granted immediately at the end of your next billing cycle. You will not be able to enter your account once it has been cancelled. Upon cancelling, all content, including history, listings and buyer information will no longer be available to you. If you have listing posted at the time of the cancellation request, they will be cancelled immediately. If this cancellation request falls within the last 5 days of the listing sale date, you will be charged the standard "listing cancellation fee".

· We reserve the right to deny or cancel any users subscription for any reason at any time, including previous account status and payment history.

· This website contains material which is owned by or licensed to us. This material includes, but is not limited to, the design, layout, look, appearance and graphics. Reproduction is prohibited other than in accordance with the copyright notice, which forms part of these terms and conditions.

· Unauthorised use of this website may give to a claim for damages and/or be a criminal offence.

· From time to time this website may also include links to other websites. These links are provided for your convenience to provide further information. They do not signify that we endorse the website(s). We have no responsibility for the content of the linked website(s).

· You may not create a link to this website from another website or document without BidaBing Corporations prior written consent.

· Your use of this website and any dispute arising out of such use of the website is subject to the laws of the United States of America.

No bidder will place a bid without first inspecting the property. Buyers are aware that properties are being purchased “AS-IS” unless otherwise noted on the listing. No bidder will place a bid without being certain of his/her ability to finance the property. Buyers are aware that contract to be signed have NO FINANCING CONTINGENCIES unless otherwise noted on the listing.

All auctions are binding. The seller of a successful auction must execute the property for the terms agreed to in the listing to the winning bidder. The buyer of a successful auction must execute a purchase agreement within the allowed time. Each are responsible to the other in these transactions. Both the buyer and the seller shall hold BidaBing harmless for any action or inaction on the part of any site user. BidaBing does not refund any transaction fees. However, we appreciate the opportunity to better your experience as a user. Any user who experiences or suspects any fraudulent use must report it to customer service immediately. BidaBing is only the marketing means and auctioning tool you have chosen to use to buy or sell real estate. Any legal suit for another users action or inaction shall be directed at that party.

BidaBing.com is, among other things, a marketing and auctioning tool for licensed agents. Licensed agents may conduct auctions and market listings on our application. BidaBing.com is has no agency relationship with any of its users. Bidabing does not charge commissions for sales.

If you are referred a buyer or seller from BidaBing you will be courteous at all times. As a BidaBing member you will act with honesty and integrity. If in evaluating our users we find that you have treated them unfairly, impolitely, unprofessionally or rudely, BidaBing in its sole and absolute discretion may seize and cancel your account and membership.

Every property on BidaBing will be posted by an actively licensed agent in the state where the subject property is located. Each listing will offer 3% cooperation or the equivalent referral fee for the buying side agent. Every buyer must have a licensed agent to whom he/she is registered to prior to bidding. As a buyers agent you are responsible for contacting the successful bidder within 12 hours and presenting a signed copy of the sales contract to the listing agent within 24 hours. If you fail to either contact the buyer or present the contract within the allowable time, the buyer must contact BidaBing’s customer care department for instructions on how to proceed with a newly assigned agent. You will not represent this buyer on this transaction and you will not be the procuring cause. In this event you will not be entitled to compensation.

If your account is ever seized and/or cancelled, any rewards points will be forfeited and buyers registered to your account will be informed of their new unrepresented status. Any listings will automatically be canceled with no refund.

Bidabing Rewards Points shall have no monetary value other than to purchase products and services on the site. You may not use points to pay membership fees, cancellation fees or transaction fees.

Seller and Buyer Fees

Each side of a transaction will pay a $250. transaction fee. The listing agent pays the selling fee and the buyer is responsible for the buying fee. The winning bidder must pay the buyer transaction fee within 24 hours. Here is an example:

Auction ends...

Buyer has 24 hours to pay the fee.

If buyer fails to pay he is in default.

Seller must report this to BidaBing support team.

Listing Agent may contact the 2^nd bidder and/ or restart the auction at no cost for a period of equal or less time – but not before the 24 hour period expires.

Or, seller may pursue legal action as allowed by the laws of his state.

Buyer may be suspended from any further bidding.

If buyer properly closes the transaction, seller is notified of the close and buyers agent is notified to produce a signed contract to the listing agent within 24 hours.

If agent fails to produce a contract, buyer is in default.

Seller must report this to BidaBing support team.

Listing Agent may contact the 2^nd bidder and/ or restart the auction at no cost for a period of equal or less time – but not before the 24 hour period expires.

Or, seller may pursue legal action as allowed by the laws of his state.

NOTE: The fees on a "Short Sale" are reduced to $150. Buyers are aware that the final acceptance from the bank is not usually guaranteed and the buying fee for using the BidaBing application is not refundable.

BidaBing is not responsible for the actions or inactions of site users.

Cancellation fees apply to all listings. Within the last 7 days of the auction the fee is $250. Prior to that the fee is $100. Failure to pay will cause your account and membership to be seized and cancelled.

Bidding on your own listing or influencing the auction in any way will cause your account and membership to be seized and cancelled.

You will make sure that the seller understands and agrees not to bid or influence the auction in any way.

Users will hold BidaBing Corporation harmless of any damage caused by any users action or inaction.

Starting price and Reserve. You will only enter properties with a starting price of no more than 70% of the Brokers Opinion of Value (CMA) or Zillow Zestimate. The reserve price will not be more than 90% of the Brokers Opinion of Value (CMA) or Zillow Zestimate.

You shall be responsible for the listings accuracy. You shall include a copy of the contract with the terms being offered on the listing information. You shall include a “BidaBing Seller Authorization To List” within five days of the auction start date. Failure to upload or fax the “BidaBing Sellers Authorization To List” will cause the listing to be suspended without a refund. We will restart the bidding upon receipt of the disclosure.

BidaBing is not responsible for getting traffic or bidders to your listing. Agents are urged to include the auctioning information on all of your marketing efforts to attract more potential bidders.

You shall not commit fraud on the site or use the site to engage in any illegal activity on the site. You shall use the site at your own risk. Any legal action brought to you by any party is your responsibility and you agree to hold BidaBing Corporation harmless.

BidaBing reserves the right to deny access and/or membership to any user at any time in its sole and absolute discretion.

Bidabing reserves the right to place banner and ads throughout the site. These ads may include but are not limited to companies in the real estate, lending, and title insurance business.