Last Updated: March, 2018
© 2016, 2017, 2018 plumBid, Inc. ™ Equal Housing Opportunity.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, disability, or familial status, or national origin.
PlumBid is not the seller or listing agent in any transaction. plumBid is the transaction platform in which all plumBids are conducted.
All bid invitations are listed by the owner and/or their designated licensed real estate agents and their respective real estate brokerage firm, Home as Art, Inc. (dba: deasy/penner&partners) who hold a valid real estate license to list and sell real-estate in the State of California. (01514230)
Please note that the word “plumBid” is both a noun (the name of the company) and a verb (the act of bidding).
PlumBid and deasy/penner&partners takes all bidding activity seriously and as such, you are hereby notified that by placing a bid through www.plumBid.com, the bidding winner becomes legally bound to the Terms and Conditions set forth in this page which govern the entire relationship. As this listing involves the sale of real-estate, the laws of the State of California shall govern all buyer and seller relationships for transactions and purchases.
The role of plumBid Inc. is limited to the actual online facilitation of the bidding. PlumBid is not responsible for, and does not engage in, brokering, selling, purchasing, exchanging, or leasing posted properties or providing a "multiple listing service," as that term is traditionally used. plumBid does not counsel sellers or buyers, show properties, negotiate sales contracts, or hold a position of trust and confidence. Accordingly, no brokerage relationship or any agency or fiduciary relationship is intended to be or shall be deemed to have been created between plumBid and any seller or buyer of real estate. plumBid makes no representations about properties advertised on www.plumBid.com, or any produced marketing component (print, direct mail, electronic mail, website, brochure, listing sheet, etc) about the sellers of such properties, about the accuracy of information provided by such sellers, or about the financial capabilities of prospective buyers. Prospective buyers are required to perform all due diligence before entering into a contract to purchase property, and, as emphasized above, all parties are encouraged to seek the help of a licensed real estate professional and real estate attorney.
By participating in this bidding service and by being the high bidder on any property, you are entering into a contract to purchase said property.
plumBid will require that:
- All interested potential buyers thoroughly review, approve and acknowledge by signature, an independent inspection, as well as all disclosures, photographs and property information.
- All potential buyers must be pre-qualified, as well as demonstrate proof of funds to open escrow with a 3% deposit and to satisfy any and all additional down payment and closing costs required within the property’s Residential Purchase Agreement. While buyers may, of course, use their own lender, plumBid may require additional pre-qualification information to determine their maximum bidding power.
- Qualified buyers, register to bid for the plumBid.
- Once bidding is complete and a winner is determined, a back-up offer position will be offered to all other registered bidders, at the winning price. The first alternate bidder to accept the “back-up offer price position,” will be placed in that position, should the initial buyer be unable to perform.
- Escrow will be opened within terms of the property's Residential Purchase Agreement. The deasy/penner listing agent representing the seller and the buyer’s agent will shepherd the necessary documentation and finalize financing to complete the real estate transaction. Both buyer and seller are required to meet all terms & conditions.
Based on the date noted on the subject property’s page on www.plumBid.com, plumBid Inc., in conjunction with the listing broker, the listing agent and property owner will offer for sale, the subject property, through the plumBid methodology. The bidding will take begin at the time noted on the subject property’s page on www.plumBid.com
- plumBid’s are open only to bidders who are 18 years of age or older.
- All expenses and services not specified herein are not included as part of the plumBid and are the winning bidder’s sole responsibility to which they will have no claim against plumBid.
- The sale of this property is subject to availability and other restrictions. It is the bidder’s sole responsibility to confirm any additional restrictions with the Owner.
- By placing a bid or expressing your interest in the property you may be required to disclose personal information. As a condition of participation you agree that plumBid or its designated 3rd parties may use your disclosed information or disclose your personal information to parties who are required to have such information in order to obtain information about you including your credit worthiness.
- All participants and winning bidder acknowledges that due to the unique nature of real-estate purchases it is sometimes difficult to anticipate the exact outcome, problems, concerns, issues and you acknowledge that there are many unknown factors including but not limited to unforeseen circumstances, costs and loss of time. All participants agree to waive all rights, liabilities and claims against the owner/seller, plumBid, Deasy Penner & Partners and agents hereby agree that the maximum liability for damages, claims or costs against plumBid and owner/seller is fixed at $1.00 (One Dollar). All buyers will enter into a Purchase Agreement governed by the State of California which will signify all rights and obligations you will have and the liabilities and damages each party may incur.
- plumBid and its partners strive to make necessary accommodations for all individuals requiring special assistance or who may have special needs. It is the responsibility of all bidders who require special assistance to contact plumBid in advance of placing a bid to ensure accommodations or special arrangements can be made. plumBid will work with all bidders to modify or alter any experience to ensure equal access for the disabled or for persons requiring special needs and assistance within the confines of the bid item(s).
- plumBid, Home as Art Inc., its partners and clients are not responsible for any errors or omissions or for any warranties or guarantees either explicit or implied herein.
- By your participation you agree to hold harmless and release plumBid Inc, Home as Art, Inc. their respective parent companies, subsidiaries and affiliates, as well as the directors, officers, employees, shareholders, representatives, agents, and assignees of any of the foregoing entities, from and against any and all claims and liability arising out of your participation in the plumBid. If for any reason, the listing must be cancelled or is not capable of running as planned by reason of any causes, the listing parties reserve the right at their sole discretion to cancel or modify the plumBid.
- Registration and pre-qualification is required to participate in the bidding and to become eligible to submit bids. You must complete and submit the registration form by noon (PST), on the Thursday prior to the scheduled plumBid.
- If you do not satisfy all prequalification and proof of funds requirements, you will be unable to participate in the plumBid.
- In some cases, you may view the plumBid from country specific sites which will display the price in a local currency. All payments must be made in US dollars.
- plumBid Inc. reserves the right to block a bidder or cancel any bid at any time for any reason including but not limited to, feedback, non-paying bidder status, bid retractions, and recent bid history; and, plumBid Inc. shall have no liability in conjunction with blocking or cancellation of a bid. Furthermore, if in plumBid's sole discretion it determines that for any reason the plumBid is not capable of running as originally planned or the integrity of the plumBid has been compromised for any reason, plumBid may cancel the plumBid without notice and without any compensation to current or high bidders. plumBid and owner/seller have no obligations to complete the escrow or transaction if the Residential Purchase Agreement is not executed.
- Modifications such as additions or cancellations to the plumBid may be made at anytime and plumBid or its clients are not responsible for any changes.
- If you are planning to purchase more than one property, you must complete a Registration Form for each property you’re interested in.
- Only valid and registered bidders will be allowed to participate in the bidding. Each registered bidder will receive a unique plumBid login ID to use during the bid period. It is the responsibility of the bidder to keep this login ID confidential to avoid someone falsely bidding on your behalf.
- The bidding will begin promptly per the time noted on the subject property page. All bidding will take place online at www.plumBid.com. (A) Offers must be submitted by a Registered Bidder, with a unique plumBid login ID. (B) Offers on www.plumBid.com will only be accepted at or above the "current selling price" or the minimum bid price.
- The patent-pending plumBid Optimizer and plumBid technology utilizes both qualitative and quantitative data to compile all monetary incentive values during bidding. plumBid Inc. makes every effort to provide all bidders with a platform that is fair and accurate. Registered bidders hereby release plumBid Inc. and its agents from any actual or potential claim, known or unknown, as it relates to the plumBid Optimizer platform – including, but not limited to: technical issues, assignment of any/all values, the methodology in which the values are assigned, malfunctions or errors.
- Registered bidders who have made the winning bid on www.plumBid.com, must immediately execute and furnish the completed Residential Purchase Agreement to plumBid, Inc. Escrow, with required funds, must be opened within (24) hours.
- For all properties negotiated utilizing the plumBid online platform, a buyer's premium of 1.95% will be added to the winning bid equal to the purchase price of said property. If an off-line, “modified plumBid” process is utilized, a buyer's premium of 0.95% will be added to the winning bid equal to the purchase price of said property.
- Buyers are strongly urged to personally visit the subject property and personally investigate and inspect the property(s) that you are interested in purchasing.
- All purchase documents will be furnished to registered bidders. Purchase documents must be thoroughly reviewed for details. Such purchase documents include, but are not limited to (a) Agency disclosures (b) Purchase Agreement and Escrow Instructions; (c) Addenda to Purchase Agreement and Escrow Instructions; (d) Preliminary Title Report; (e) California Public Report; (f) Disclosure Statements; (g) Covenants, Conditions and Restrictions; (h) Homeowners Association and other governing agreements and documents – if applicable; (i) Warranty Materials; (j) Inspection Report. All documents must be acknowledged as received and read by bidder.
- The purchasers of subject properties with Home Owners Associations will become members of respective Associations and will be assessed a monthly fee ("HOA Dues") depending on the size of the property (see subject property page for the HOA Dues, Rules, and Regulations for each property offered). plumBid is not responsible for any information regarding HOA fees, rules, regulations, dues, etc.
- If the winning bidder is utilizing a lender, the successful bidder (the Buyer) must notify the listing broker of his or her lender and a contact person for that lender within 24 hours of the end of the plumBid.
- Participation of all licensed California Real Estate Brokers and Sales Agents is welcome and encouraged to represent bidders. A commission of 2.5% of the winning bid amount for a property (not including Buyer's Premium) will be paid by the Seller to the qualified broker whose client is the winning bidder at the plumBid and who completes purchase and escrow closes as provided in the Purchase Agreement.
- Broker cooperation requires (a) written registration of their broker by the buyer on the Registration form, (b) the Broker shall accompany their client through the contract completion process immediately following acceptance of their winning bid.
- There will be no options, upgrades or other incentives offered to any bidder and/or Purchaser by plumBid.
- ADDITIONAL CONDITIONS
A. No claim will be considered for allowance, adjustment or rescission based upon failure of the home to correspond to any particular expectation or standard, except the Preliminary Title Report.
B. In the event of a dispute between bidders, plumBid shall make the sole and final decision to either accept the final bid or to re-offer and resell the home in dispute. If any dispute arises following the plumBid, plumBid's records shall be conclusive in all respects.
C. Property details, sizes and square footages set forth are approximations only, based on the best information available. Actual sizes and square footages may be different.
D. Seller reserves the right to refuse admittance to or expel anyone from the plumBid premises for interference with plumBid activities, nuisance, canvassing or other reasons.
E. Prospective Buyers are required to confirm that they have examined all supporting documentation carefully and all aspects of the premises. Each buyer is responsible for evaluating the property and shall not rely on the Seller, plumBid, Home as Art, Deasy Penner & Partners or sales agents.
F. Seller and plumBid expressly disclaims any liability for any late, lost, misdirected, incomplete, illegible, destroyed, damaged or stolen applications and shall not be responsible for technical malfunctions or failed or incorrect, inaccurate, incomplete, garbled or delayed electronic communications whether caused by sender or by any of the equipment associated with or utilized in the bidding and sales process or by any human error which may occur.
G. Registered bidders are advised that there are certain risks involved with participating in the bidding via the Internet. Those risks include, but are not limited to communication failures or interruptions, causing the Registered Bidder to receive information later than would be received by alternate participants, or not at all, human error in inputting information to be transmitted over the Internet, the inability to accurately gauge the momentum of the procedure.
Registered bidders hereby release plumBid Inc. and its agents from any actual or potential claim, known or unknown, which the registered bidders may have against seller or its agents due to registered bidder participating in the plumBid via the Internet rather than in person. This includes all technical, software, hardware, computer, telephone, browser compatibility, internet connection issues.
H. All rules and regulations regarding the bidding and sales process shall be determined by Seller and are subject to change without notice. All transactions are subject to these official rules, procedures, regulations and decisions, together with Federal and State law.
I. Seller and/or plumBid has the right at any time, to postpone, pause or cancel the bidding in whole or in part, in its sole and absolute discretion, and to modify or add any terms and conditions of sale, including price -- and to announce such modifications or additional terms and conditions. If seller cancels, seller will reimburse any incurred expenses paid by plumBid for any pre-launch expenses prior to plumBid cancellation.
J. The contents and composition including layout, logo, look and feel, bidding methodology and process, coding on any page or any property, plumBid listing/bidding page, Terms and Conditions, in whatever form or manner either graphic, text, or digital format or presentation of any language either actual or digital are the property of plumBid Inc. or the other copyright holders represented hereon and may not be copied, reproduced, duplicated, paraphrased, in whole or part for any purpose or reason whatsoever whether online or in a physical manner including storage to a computer system or storage device of any kind for republication or dissemination without the express written consent of plumBid Inc. To violate this copyright protection is illegal and plumBid will pursue such violations vigorously.
K. Void where prohibited and where an offer or sale would be in violation of laws of that state, including but not limited to the real estate laws.
L. Anyone using fraudulent means to participate and/or win the plumBid will be disqualified. Any attempt by a bidder to undermine the legitimate operation of the plumBid may be a violation of criminal and civil law.
M. By placing a bid you agree that you have read and agreed to be bound by these Terms & Conditions.
For further information, or if you require any additional assistance, please contact a plumBid representative at [email protected]