Terms And Conditions

This is a legal agreement (the “Agreement”) between you, the user, and RealHome Services and Solutions, Inc. (together with its parent, Altisource Portfolio Solutions, Inc., and each of their respective parents, subsidiaries and other affiliates, “Altisource” “us”, “our” or “we”). Please note that by using GoHoming.com and its related services and tools (collectively, "GoHoming") or any of its affiliated websites (“Affiliated Websites”), you agree to be bound by these terms. Please allow 24 hours for account activation, and note that you will not be able to place bids or offers until your account has been activated. We may amend this Agreement at any time by posting the amended terms. Except where stated below, all amended terms shall automatically be effective 30 days after they are initially posted; provided, however that Altisource reserves the right to make amendments effective immediately.

This Agreement applies to all properties listed for sale on GoHoming and its Affiliated Websites. A property listed on GoHoming or its Affiliated Websites may be listed for sale via a no time-limit on-line process whereby the property listing does not have a closing date and time and the Seller (as hereinafter defined) may accept any bid at any time (a “No Time Limit Listing”) or via a time-limit on-line process whereby the property listing has an closing date and time and the Seller will accept the highest outstanding bid at the close of the on-line process (a “Time Limit Listing”).

Winning Bidders (as hereinafter defined) shall be required to execute a Purchase Agreement (the “Purchase Agreement”). The Purchase Agreement will contain the exact terms and conditions of the sale of any property listed on GoHoming or its Affiliated Websites.

As used in this Agreement, the following terms have the following meanings:

"Absolute Time Limit Listing" means a Time Limit Listing in which the subject property is sold to the highest bidder following the end of the listing period, regardless of the amount of the winning bid. There is no Reserve Price in an Absolute Time Limit Listing.

"Affiliated Websites" has the meaning assigned to such term in the preamble hereof.

"Agreement" has the meaning assigned to such term in the preamble hereof.

"Altisource" has the meaning assigned to such term in the preamble hereof.

"Bidder" means a person who places a bid on a property.

"Buy It Now Listing" is a function available on certain Time Limit Listing properties and No Time Limit Listing properties whereby a Seller has indicated a “Buy It Now” price on the property listing. If the Buyer agrees to pay the "Buy It Now" price, the Buyer is automatically the "Winning Bidder" and the Property is removed from the No Time Limit Listing.

"Buyer" means a person who places a Winning Bid on a property.

"GoHoming" has the meaning assigned to such term in the preamble hereof.

"Minimum Reserve Listing" is a Reserve Price Listing that also has a minimum initial bid amount listed on the property’s listing page. The Minimum Reserve Listing is the most common form of No Time Limit Listing offered on GoHoming and its Affiliated Websites.

"Purchase Agreement" has the meaning assigned to such term in the preamble hereof.

"Purchase Price" means the Winning Bid Amount plus any applicable Web Transaction Fee. The Purchase Price does not include other amounts payable by the Buyer at closing, such as escrow/closing fees, property taxes, insurance, etc.

"Reserve Price" means the minimum price set by the Seller for a property subject to a Reserve Price Listing.

"Reserve Price Listing" means a Time Limit Listing in which the subject property is sold to the highest Bidder following the end of the listing period only if the amount of the highest bid exceeds the Reserve Price. The Seller may or may not choose to disclose the Reserve Price on the property page. Even if a Bidder meets the Reserve Price, the listing period continues (unless the Buy It Now price is also met) for the scheduled listing time period in order to give other bidders the opportunity to bid higher than the current highest bid.

"Seller" means a person who has placed a property for sale on GoHoming or its Affiliated Websites, whether via an on-line time limit format or via an on-line no time limit format.

"Time Limit Bidding" has the meaning assigned to such term in the preamble hereof.

“No Time Limit Bidding” has the meaning assigned to such term in the preamble hereof.

“Winning Bid” means (a) for a Time Limit Listing, the highest bid on a Property at the conclusion of the time limit and such offer meets any applicable minimum bid or reserve requirements, and (b) for an No Time Limit Listing, any bid accepted by the Seller.

"Winning Bid Amount" means the proposed purchase amount set forth in a Winning Bid.

1.Membership Eligibility:

Our services are available only to individuals who can form legally binding contracts under applicable law. Without limiting the foregoing, our services are not available to minors or to temporarily or indefinitely suspended members. If you do not qualify, please do not use our services. Further, your account and User ID may not be transferred or sold to another party. If you are registering as a business entity, you represent that you have the authority to bind the entity to this Agreement, any Purchase Agreement and any other real estate related agreements. If you do not have such authority, you will be held individually liable for all actions taken under your User ID.

2.Fees and Services:

(a) Bidders - Once you have registered, there is no cost to place bids on a property. However, there are different types of fees that you may be obligated to pay if your bid is accepted. Below is a description of these fees:

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

(ii) Time Limit Listing Properties.

a. Winning Bid Deposit. Upon making a Winning Bid in a Time Limit Listing, 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 within the time frame established by the Seller. 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 (the “Earnest 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.

c. Web Transaction Fee. 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.

(b) Owners/Sellers - There is no cost to list properties for sale, but in the event that you accept an offer from a Buyer, or if a Bidder successfully submits a Winning Bid, then you will be required to execute the Purchase Agreement and to pay the applicable broker commissions at closing.

(c) Cancellation Fees

(i) Bidders. 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. However, refunds can be granted at the sole discretion of the Seller. 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.

(ii) Seller. A listing may be withdrawn; provided however that if the listing is for an Time Limit Property that is being sold pursuant to an Absolute Time Limit Listing or a Minimum Reserve Listing and prior to the cancellation a bid equals or exceeds the minimum bid amount set forth on the property, the cancellation fee shall be equal to 1.00% of the highest bid received prior to the cancellation.

(iii) Commissions. In the case of cancellation by the Seller, the cancellation fee is not in lieu of but in addition to any commissions and fees for which the Seller may remain liable in the event of a subsequent sale to a third party.

(d) Credit Card Fees/Service Fees: If a Buyer chooses to use a credit card as their payment option for the Winning Bid Deposit, they will be charged the associated transaction fee charged by our payment processor. Furthermore, all transactions may be subject to a service fee for wire charges and similar items.

We may change our fees and the fees for our services from time to time. We may in our sole discretion change some or all of our services at any time. In the event we introduce a new service, the fees for that service are effective at the launch of the service. Unless otherwise stated, all fees are quoted in U.S. Dollars. You are responsible for paying all fees associated with using our service and our website and all applicable taxes.

3.This Online Bidding Site is a Venue:

3.1 Not An Auctioneer. This online bidding site is not an auctioneer. There is no individual conducting an auction as you would have in a live auction setting. Instead, our site acts as a venue to allow anyone to offer, sell, and buy property, in a variety of ways, including Time Limit Listing, No Time Limit Listing, Reserve Price Listing, and Buy It Now Listing. GoHoming and its Affiliated Websites are not involved in the actual transaction between buyers and sellers. As a result, GoHoming and its Affiliated Websites have no control over the truth or accuracy of the listings, the Seller's ownership interest in the listed property, or the ability of a Buyer to close on the transaction.

3.2 Identity Verification. We use many techniques to identify our users when they register. However, because user verification on the Internet is difficult, GoHoming and its Affiliated Websites cannot and does not confirm each user's purported identity. We encourage you to report any instances of fraud or other circumstances that call into question the purported identity of any user of GoHoming or its Affiliated Websites.

3.3 Release. Because we are a venue, in the event that you have a dispute with one or more users, you release GoHoming and its Affiliated Websites (and their officers, directors, agents, affiliates, subsidiaries, joint ventures and employees) from claims, demands and damages (actual and consequential) of every kind and nature, known and unknown, suspected and unsuspected, disclosed and undisclosed, arising out of or in any way connected with such disputes.

3.4 Information Control. We do not control the information provided by other users that is made available through GoHoming and its Affiliated Websites. You may find other user's information to be offensive, harmful, inaccurate, or deceptive. Please use caution, common sense, and safe business practices when using GoHoming and its Affiliated Websites. Please note that there may also be risks of dealing with underage persons, foreign nationals, and people acting under false pretense.

4.Bidding and Buying:

4.1 Bidding on a property indicates your intent to purchase that property and is considered a legally binding contract between yourself and the Seller of the property. As a buyer, you are obligated to complete the transaction with the Seller if you submit a Winning Bid.

4.2 Any person who fails to consummate a purchase after his submitting a Winning Bid may be barred from participating in future sales or bidding on this site. Similarly, a buyer who defaults in making payment of any Winning Bid Deposit, any Earnest Money Deposit or the Web Transaction Fee may be barred from participating in future sales or bidding on this site.

By making a bid on a property, you agree to be bound by the conditions of sale included in the listing so long as those conditions of sale are not in violation of this Agreement or unlawful. Bids or offers can only be withdrawn as set forth in Section 2(c) of this Agreement.

4.3 A Buyer who fails to complete the transaction may be in breach of contract and subject to legal claims by the Seller, and/or other parties to the transaction, including but not limited to GoHoming, its Affiliated Websites and their subsidiaries and affiliates, the Seller's broker, and the Buyer's broker (if applicable).

4.4 The Seller of a property listed for sale pursuant to a Time Limit Listing will have an option to extend the time remaining for the Time Limit Listing by fifteen (15) minutes when there has been bidding activity in the last fifteen (15) minutes before the scheduled time for closing. After the Time Limit Listing has been extended once, the Time Limit Listing will be automatically extended for successive fifteen minutes periods until fifteen (15) minutes have passed with no bidding activity in which case the Time Limit Listing will be closed. The extension of the time limit listing in this manner will allow all bidders adequate time to respond.

5.Listing and Selling:

5.1 Listing Description. You must be legally able to sell the property you list for sale on our site. You must describe your property and all terms of sale on the listing page of our site. Your listings may only include text descriptions, graphics, pictures and other content relevant to the sale of that particular property.

5.2 Binding Bids. With respect to a Time Limit Listing, if you receive at least one bid at or above your stated minimum price (or in the case of Reserve Price Listing, at or above the Reserve Price), you are obligated as the Seller to complete the transaction with the highest bidder upon the time limit completion, except in the case of Buyer default or if you cancel your listing as set forth in Section 2(c).

5.3 Fraud. Without limiting any other remedies, we may suspend or terminate your account if we suspect that you (by conviction, settlement, insurance or escrow investigation, or otherwise) have engaged in fraudulent activity in connection with our site.

5.4 Manipulation. You may not manipulate the price of any listed property nor may you interfere with other user's listings or transactions.

5.5 Property Conveyance. All properties are to be conveyed as fee simple title, with title insurance by standard title policies (as applicable), subject to current taxes, rights-of-way, assessments, easements and other conditions of record, and any exceptions written in the preliminary title report and other standard title exclusions.

6.Property Inspection/Disclaimers:

6.1. Property Status.ALL PROPERTIES OFFERED FORSALE ON GOHOMING AND ITS AFFILIATED WEBSITES ARE BEING OFFERED FORSALE “AS IS WHERE IS WITH ALL FAULTS” WITH NO EXPRESS OR IMPLIED GUARANTEES OR WARRANTIES WHATSOEVER, UNLESS REQUIRED BY LAW. Without limiting any other provision of these Agreements or the Purchase Agreement, all Bidders acknowledge and agree that they are bidding for and, if the winning Bidder, acquiring the property in its present state and condition as of the date the Bidder submits the bid, with all defects, both patent and latent, and with all faults of the property whether known or unknown, presently existing or that may hereafter arise. Furthermore, the property is subject to all terms and conditions set forth on the property’s listing page. All Bidders acknowledge and agree that Sellers, GoHoming and its Affiliated Websites have not made, do not make and specifically negate and disclaim and representations, warranties, promises, covenants, agreements or guarantees of any kind or character whatsoever, whether express or implied, oral or written, past, present or future, of, as to, concerning or with respect to the Property, including without limitation: (a) the value, nature, quality or condition of the property, including, without limitation, the water, soil and geology; (b) the income the be derived from the property; (c) the suitability of the property for any and all purposes, activities and uses which Bidder may conduct thereon; (d) the compliance of or by the property or its operation with any laws, rules ordinances or integrity of the land or any buildings or improvements of any applicable governmental authority or body; (e) the habitability, merchantability, marketability, profitability or fitness for a particular purpose of the property; (f) the manner or quality of the construction or materials, if any, incorporated into the property; (g) the manner, quality, state of repair or lack of repair of the property; (h) the existence of any view from the property or that any existing view will not be obstructed in the future; (i) any other matter with respect to the property; (j) any other matter with respect to the property; (k) the conformity of the improvements to any plans or specifications for the property that may be provided to Bidder; (l) the conformity of the property to applicable zoning or building code requirements; (m) the existence of soil instability, past soil repairs, susceptibility to landslides, sufficiency of under-shoring, sufficiency of drainage, or any other matter affecting the stability or integrity of the land or any buildings or improvements situated thereon; or (n) whether the Property is located in a special studies zone under the public resources code or a seismic hazards zone or a state fire responsibility area, or a special flood hazard zone. Bidder acknowledges that the property may not be in compliance with applicable zoning, building, health or other law or codes, and that Seller may not have occupied the property and that the property may not be in habitable condition. All Bidders further acknowledge and agree that, without limitation, none of Seller, GoHoming or its Affiliated Websites have not made, do not make, and specifically disclaim any representation regarding compliance with the Americans With Disabilities Act or with any environmental protection, pollution or land use laws, rules, regulations or orders or requirements, as defined by the U.S. Environmental Protection Agency regulations or the disposal or existence, in or on the properties, of any hazardous substance, as defined by the comprehensive Environmental Response Compensation and Liability Act of 1980, as amended, and regulations promulgated there under. Each Bidder and anyone claiming by, through or under the same hereby fully and irrevocably releases all Seller, GoHoming, its Affiliated Websites, their respective employees, officers, directors, representatives, attorneys and agents from any and all claims that he/she/it or they may now have or hereafter acquire against Sellers and GoHoming, its Affiliated Websites, their respective employees, officers, directors, representatives, attorneys, and agents for any cost, loss, liability, damage, expense, demand, action or cause of action arising from or relating to any construction defects, efforts, omissions, or other conditions, including environmental matters, affecting the property(-ies), or any portion thereof. This release includes claims of which Bidder is presently unaware or does not presently suspect to exist in his/her/its favor which, if known by prospective Bidder, would materially affect prospective Bidder's release of Sellers and GoHoming and its Affiliated Websites. Each prospective Bidder should consider these matters when registering as a Bidder and placing bids with GoHoming or its Affiliated Websites.

6.2DISCLAIMER. GOHOMING AND ITS AFFILIATED WEBSITES DO NOT MAKE ANY EXPRESS OR IMPLIED WARRANTIES, ENDORSEMENTS OR REPRESENTATIONS WHATSOEVER AS TO THE ACCURACY OF THE INFORMATION, CONTENT OR MATERIALS CONTAINED ON GOHOMING OR ITS AFFILIATED WEBSITES.

7.Your Information:

7.1 Responsibility. You are solely responsible for any information you provide to us or other users in the registration, bidding or listing process or through any e-mail feature. GoHoming and its Affiliated Websites act merely as a passive conduit for online distribution and publication of your information.

7.2 PreQualification Letters. For certain properties, you will be required to upload a copy of a prequalification letter. By uploading a prequalification letter, you are representing that the document is a bona fide prequalification letter and that its contents are true and correct in all respects.

7.3 Restricted Activities. Your information and your activities on the site shall not: (a) be fraudulent, false, inaccurate or misleading; (b) knowingly infringe any third party's proprietary rights or right of privacy; (c) violate any law, statute, ordinance or regulation (d) be defamatory, libelous, threatening or harassing; (e) contain any viruses or other computer programming routines that may damage, detrimentally interfere with, surreptitiously intercept or expropriate any system, data or personal information; (f) create liability for us or cause us to lose (in whole or in part) the services of our ISPs or other suppliers. Furthermore, you may not list any property on GoHoming or it’s Affiliated Websites (or consummate any transaction that was initiated using GoHoming or its Affiliated Websites) that could cause us to unknowingly participate in or contribute to the violation any applicable law, statute, ordinance or regulation.

7.4 License. Solely to enable this site to use the information you supply us with, so that we are not violating any rights you might have in that information, you agree to grant us a non-exclusive, worldwide, perpetual, irrevocable, royalty-free, sub-licensable (through multiple tiers) right to exercise the copyright, publicity, and database rights (but no other rights) you have in your information, in any media now known or not currently known, with respect to your information. This license may be revoked by written notice from you.

8.Access and Interference:

You agree that you will not use any electronic device, software or process to monitor or copy our web pages or the content contained herein without our prior expressed written permission. You agree that you will not use any electronic device, software or process to interfere or attempt to interfere with the proper working of GoHoming or its Affiliated Websites or any activities conducted on GoHoming or its Affiliated Websites. You agree that you will not take any action that imposes an unreasonable or disproportionately large load on our infrastructure. Much of the information on GoHoming and its Affiliated Websites is updated on a real time basis and is proprietary or is licensed to GoHoming and its Affiliated Websites by our users or third parties. You agree that you will not copy, reproduce, alter, modify, create derivative works, or publicly display any content from GoHoming or its Affiliated Websites without the prior expressed written permission of GoHoming or the appropriate third party.

9.Breach:

Without limiting other remedies, we may immediately remove your property listings, warn our community of your actions, issue a warning, temporarily suspend, indefinitely suspend or terminate your membership and refuse to provide our services to you if: (a) you breach this Agreement; (b) we are unable to verify or authenticate any information you provide to us; or (c) we believe that your actions may cause financial loss or legal liability for you, our users or us.

10.Privacy:

Please see our separate Privacy Policy, which is incorporated herein by reference.

11.No Warranty:

Please see our separate Disclaimer, which is incorporated herein by reference.

12.Indemnity:

You agree to indemnify and hold GoHoming and (as applicable) its subsidiaries, affiliates, officers, directors, agents, and employees, harmless from any claim or demand, including reasonable attorneys' fees, made by any third party due to or arising out of your breach of this Agreement or the documents it incorporates by reference, or your violation of any law or the rights of a third party.

13.Legal Compliance:

You shall comply with all applicable domestic and international laws, statutes, ordinances and regulations regarding your use of GoHoming and its Affiliated Websites and your bidding on, listing, purchase, solicitation of offers to purchase, and sale of property.

14.No Agency:

You and this website are independent contractors, and no agency, partnership, joint venture, employee-employer or franchiser-franchisee relationship is intended or created by this Agreement.

15.Access to Services:

We do not guarantee continuous, uninterrupted or secure access to our services, and operation of our site may be interfered with by numerous factors outside of our control.

16.Escrow.

After submitting a Winning Bid or Winning Offer, you must comply with the Seller's escrow provisions set forth on the applicable property's listing page. All Buyer’s must have a buyer’s agent who will hold

17.Buyer’s Agent.

Bidders may register without a buyer’s agent, but all Buyers’ must register a buyer’s agent before submitting a Winning Bid. Failure to register a buyer’s agent will render any Winning Bid submitted by a Buyer voidable, and any deposits made by such Buyer will be subject to forfeiture.

18.General:

If any provision of this Agreement is held to be invalid or unenforceable, such provision shall be struck and the remaining provisions shall be enforced. You agree that this Agreement and all incorporated agreements may be automatically assigned by this site, with your written consent which consent shall not be unreasonably withheld, to a third party in the event of a merger or acquisition. A Bidder may not assign any of its rights hereunder without GoHoming or its Affiliated Website’s prior approval. A Bidder may not assign any rights in may have in any bid without the consent of the Seller. Headings are for reference purposes only and in no way define, limit, construe or describe the scope or extent of such section. Our failure to act with respect to a breach by you or others does not waive our right to act with respect to subsequent or similar breaches. This Agreement sets forth the entire understanding and agreement between us with respect to the subject matter hereof.

You agree to pay all fees incurred from your use of this site. All fees incurred in connection with this site are non-refundable.

This site is not intended for use by Buyers or brokers or Buyer's with any personal relationship, familial or otherwise, to individuals involved with the operation of the site, including the employees of GoHoming, its Affiliated Websites or their affiliated businesses. By registering on the site you warrant that no such relationship exists, and you agree to be solely liable for any claims that may arise in the event such representation proves to be false.

Additionally, GoHoming and its Affiliated Websites reserve the right to refuse service to anyone for any reason. This right will be exercised when it becomes evident a user is in some way abusing the system.

All parties agree that any and all disputes arising from your use of GoHoming or its Affiliated Websites will be resolved solely through binding arbitration in Cobb County, Georgia.

All persons registering on this site unconditionally accept the above terms and conditions, plus the specific terms and conditions for each individual listing posted on this site. All bidders agree to abide by all such terms and conditions fully and without recourse to GoHoming and its Affiliated Websites, who is not involved by virtue of owning and operating GoHoming or its Affiliated Websites in the actual transaction between the parties and assumes no control or liability over any issues that may arise as a result of the transaction.