1580 Frances Street REO Home for Sale

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Time Limit or No Time Limit Bids. A web transaction fee (the "Web Transaction Fee") will be due and payable at closing. The amount of the Web Transaction Fee will be set forth in the individual listing for the applicable property, but in no event will exceed five percent (5.00%) of the Winning Bid Amount. Buyer can pay the Web Transaction Fee either by bringing certified funds at the time of closing or adding to the sales price and getting financed. The Web Transaction Fee will be documented by means of an addendum to the Purchase Agreement.

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(i)Time Limit Auctions.

• a.Winning Bid Deposit. Upon making a Winning Bid in a Time Limit Bid, the Buyer will receive notification with payment instructions requiring the Buyer to make a Winning Bid Deposit. The Winning Bid Deposit is equal to the lesser of 1.00% of the Winning Bid Amount, or $1,000. The Seller must comply with the payment instructions regarding the Winning Bid Deposit. Any failure to so comply will result in the Buyer forfeiting all rights to purchase the subject property, and the Seller may, in its sole discretion, list the property for sale again. Until the execution of the Purchase Agreement, the Winning Offer Deposit shall constitute an earnest money deposit.
• b.Earnest Money Deposit. After placing a Winning Bid, you must enter into the Purchase Agreement with the Seller of the applicable property. The Buyer must execute the Purchase Agreement by the date set forth on the property listing page. If you do not enter into the Purchase Agreement by such date, you forfeit all rights to your Winning Bid Deposit and such deposit shall be paid to GoHoming or the applicable Affiliated Website. Immediately upon execution of the Purchase Agreement, you will be obligated to pay an earnest money deposit (theEarnest Money Deposit) equal to 1% of the Purchase Price. The Winning Bid Deposit will be applied towards the Earnest Money Deposit, such that you will only be obligated to pay the additional amount owed, if any. If the amount of the Winning Bid Deposit exceeds 1% of the Purchase Price, then no additional amount will be due, but the entire amount of the Winning Bid Deposit will remain in escrow (i.e. the Bidder is not entitled to a refund of any surplus). All funds held in escrow will be applied to the Purchase Price at closing. In the event closing does not occur by the agreed upon date set forth in the Purchase Agreement, the Buyer forfeits all rights to the Earnest Money Deposit and such deposit shall be paid to the applicable Seller.

(ii)No Time Limit Properties. Upon placing a Winning Bid in a No Time Limit format, you will be responsible for all of the fees, deposits and other amounts set forth by the Seller on the property page. These amounts shall be payable at the times and in the manner established by the Seller. Furthermore, the Buyer must execute the Purchase Agreement within the time frame set forth in the Buyers bid on the property.

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Time Limit Properties. A Winning Bid cannot be retracted. Open bids (i.e. those that have been made but the property still remains open for additional bids) may be retracted;provided,however that if the Bidder has gone through the financial registration process in order to submit its bid, the bid retraction will be subject to a cancellation fee of up to $350. If you retract your bid after going through the financial registration process, the cancellation fee is automatically charged to your user account. By providing GoHoming or its Affiliated Websites with your bank account or credit card information, you explicitly authorize us to debit your account for the cancellation fee.

No Time Limit Properties. Upon placing a Winning Bid in a No Time Limit Auction, you will be responsible for all of the fees, deposits and other amounts set forth by the Seller on the property page. These amounts shall be payable at the times and in the manner established by the Seller. Furthermore, the Buyer must execute the Purchase Agreement within the time frame set forth in the Buyers bid on the property.