Sellio Terms of Use

Last Modified: September 3, 2021

WEBSITE TERMS OF USE

Introduction

Thank you for visiting Sellio ("Sellio," "we," or "us"). Sellio provides a platform for sellers of real estate to organize online auctions, accept live bids from qualified buyers, and sell property (collectively, “Services”). By visiting or using Sellio’s website (“Site”) or our Services, including all associated features and functionalities, websites and user interfaces, as well as all content and software applications associated with our services, you agree to these Terms of Use (“Terms of Use”).

IF YOU ARE NOT WILLING TO BE OR CANNOT BE BOUND BY ALL OF THESE TERMS AND CONDITIONS, INCLUDING WITHOUT LIMITATION THE FOLLOWING AGREEMENT AND ACKNOWLEDGEMENT, THEN DO NOT ACCESS, BROWSE OR USE THE SERVICES. MOREOVER, SELLIO DOES NOT AND WILL NOT GRANT YOU ANY RIGHT OR LICENSE TO ACCESS, BROWSE OR THE SERVICES WITHOUT YOUR WILLINGNESS AND ABILITY TO BE BOUND BY ALL OF THE TERMS AND CONDITIONS OF THIS AGREEMENT.

IF YOU DO NOT ABIDE BY THE PROVISIONS OF THESE TERMS & CONDITIONS, EXCEPT AS WE MAY OTHERWISE PROVIDE FROM TIME TO TIME, YOU AGREE THAT WE MAY IMMEDIATELY DEACTIVATE OR DELETE YOUR USER ACCOUNT AND ALL RELATED INFORMATION AND FILES IN YOUR USER ACCOUNT AND/OR RESTRICT ANY FURTHER ACCESS TO SUCH INFORMATION AND/OR FILES, OR OUR SERVICES, WITH OR WITHOUT NOTICE.

This Site is offered and available to users who are 18 years of age or older, and reside in the United States or any of its territories or possessions. By using this Site, you represent and warrant that you are of legal age to form a binding contract with the Company and meet all of the foregoing eligibility requirements. If you do not meet all of these requirements, do not access or use the Site.

Changes to the Terms of Use and Services

Changes to Terms of Use. Occasionally we may revise and update the Terms of Use. All changes are effective immediately when we post them, and apply to all access to and use of the Site and Services thereafter. Your continued use of the Site following the posting of revised Terms of Use means that you accept and agree to the changes. You are expected to check this page periodically so you are aware of any changes, as they are binding on you.

Changes to Services. From time to time, and in our sole discretion, we may change, revise, modify and update any aspect of the Services provided to you, including, but not limited to, (i) restricting the time the Services are available, (ii) restricting the amount of use permitted, (iii) restricting or terminating any user’s right to use the Services and (iv) changing any feature or functionality provided by the Services. You agree that any termination or cancellation of your access to, or use of, the Services may be effected without prior notice. Further, you agree that we shall not be liable to you or any third-party for any termination or cancellation of your access to, or use of, our Services.

Access to Services. In order to use the Site or Services connected to the Site, you must make arrangements necessary to obtain access to the Internet. Temporary interruptions of the Site may occur as normal events that are out of our control. You also understand and agree that we have no control over the third-party networks or service(s) that we may use to provide you with Services. We assume no responsibility for the timeliness, deletion, or failure to store any user communications or personalization settings.

Sellio is a Platform.

Sellio. Sellio is a platform for sellers of real estate to organize online auctions, accept live bids from qualified buyers, and sell property. Sellio is not an auctioneer and is not involved in the actual transaction between buyers and sellers. Sellio has no control over the truth or accuracy of the information regarding properties marketed on Sellio, the seller’s ownership interest in the marketed property, or the ability of a prospective buyer to close on the transaction.

Information Control. We do not control the information on Sellio that is provided by sellers and other users. You may find other users’ information to be offensive, harmful, inaccurate or deceptive. Please use caution, common sense and safe business practices when using Sellio. Please note there also may be risks of dealing with underage persons, foreign nationals and people acting under false pretenses.

Technical Issues. From time to time, Sellio and its related applications may experience technical issue or otherwise operate in a non-optimal manner including but not limited to slow speeds and limited functionality. Sellio may, in its sole discretion, shut down the Sellio website, applications, or afilliated platforms. By utilizing Sellio and its affiliated websites and applications, you agree that they are provided “AS-IS” and that Sellio assumes no responsibility for limited functionality or lack of availability.

Privacy

Sellio’s Privacy Policy applies to the use of Sellio’s Site and Services, and its terms are made a part of these Terms of Use by this reference. Additionally, by using the Site, you acknowledge and agree that Internet transmissions are never completely private or secure. You understand that any message or information you send to the Site may be read or intercepted by others, even if there is a special notice that a particular transmission (for example, credit card information) is encrypted.

Intellectual Property Rights

The Site and its entire contents, features, and functionality (including but not limited to all information, software, text, displays, images, video, and audio, and the design, selection, and arrangement thereof) are owned by the Company, its licensors, or other providers of such material and are protected by United States and international copyright, trademark, patent, trade secret, and other intellectual property or proprietary rights laws.

If you print, copy, modify, download, or otherwise use or provide any other person with access to any part of the Site in breach of the Terms of Use, your right to use the Site will stop immediately and you must, at our option, return or destroy any copies of the materials you have made. No right, title, or interest in or to the Site or any content on the Site is transferred to you, and all rights not expressly granted are reserved by the Company. Any use of the Site not expressly permitted by these Terms of Use is a breach of these Terms of Use and may violate copyright, trademark, and other laws.

Trademarks

The Company name, the term Sellio, the Company logo, and all related names, logos, product and service names, designs, and slogans are trademarks of the Company or its affiliates or licensors. You must not use such marks without the prior written permission of the Company. All other names, logos, product and service names, designs, and slogans on this Site are the trademarks of their respective owners.

User Guidelines

Sellio provides these Services in order to provide a platform that connects sellers and qualified buyers to bid on real estate. The following User Guidelines are meant to help keep our Site and Services a safe community for all.

Prohibited Uses

You may use the Site only for lawful purposes and in accordance with these Terms of Use. You agree not to use the Site:

In any way that violates any applicable federal, state, local, or international law or regulation (including, without limitation, any laws regarding the export of data or software to and from the US or other countries).
For the purpose of exploiting, harming, or attempting to exploit or harm minors in any way by exposing them to inappropriate content, asking for personally identifiable information, or otherwise.
To send, knowingly receive, upload, download, use, or re-use any material that does not comply with the Content Standards set out in these Terms of Use.
To transmit, or procure the sending of, any advertising or promotional material without our prior written consent, including any "junk mail," "chain letter," "spam," or any other similar solicitation.
To impersonate or attempt to impersonate the Company, a Company employee, another user, or any other person or entity (including, without limitation, by using email addresses or screen names associated with any of the foregoing).
To engage in any other conduct that restricts or inhibits anyone's use or enjoyment of the Site, or which, as determined by us, may harm the Company or users of the Site, or expose them to liability.

Additionally, you agree not to:

Use the Site in any manner that could disable, overburden, damage, or impair the site or interfere with any other party's use of the Site, including their ability to engage in real time activities through the Site.
Use any robot, spider, or other automatic device, process, or means to access the Site for any purpose, including monitoring or copying any of the material on the Site.
Use any manual process to monitor or copy any of the material on the Site, or for any other purpose not expressly authorized in these Terms of Use, without our prior written consent.
Use any device, software, or routine that interferes with the proper working of the Site.
Introduce any viruses, Trojan horses, worms, logic bombs, or other material that is malicious or technologically harmful.
Attempt to gain unauthorized access to, interfere with, damage, or disrupt any parts of the Site, the server on which the Site is stored, or any server, computer, or database connected to the Site.
Attack the Site via a denial-of-service attack or a distributed denial-of-service attack.
Otherwise attempt to interfere with the proper working of the Site.

User Contributions. The Site may contain auctions, message boards, property listings, seller and buyer profiles, bulletin boards, and other interactive features (collectively, "Interactive Services") that allow users to post, submit, publish, display, or transmit to other users or other persons (hereinafter, "post") content or materials (collectively, "User Contributions") on or through the Site.

All User Contributions must comply with the Content Standards set out in these Terms of Use.

Any User Contribution you post to the site will be considered non-confidential and non-proprietary. By providing any User Contribution on the Site, you grant us and our affiliates and service providers, and each of their and our respective licensees, successors, and assigns the right to use, reproduce, modify, perform, display, distribute, and otherwise disclose to third parties any such material for any purpose.

You represent and warrant that:

You own or control all rights in and to the User Contributions and have the right to grant the license granted above to us and our affiliates and service providers, and each of their and our respective licensees, successors, and assigns.
All of your User Contributions do and will comply with these Terms of Use.

You understand and acknowledge that you are responsible for any User Contributions you submit or contribute, and you, not the Company, have full responsibility for such content, including its legality, reliability, accuracy, and appropriateness.

We are not responsible or liable to any third party for the content or accuracy of any User Contributions posted by you or any other user of the Site.

Content Standards. These content standards apply to any and all User Contributions and use of Interactive Services. User Contributions must in their entirety comply with all applicable federal, state, local, and international laws and regulations. Without limiting the foregoing, User Contributions must not:

Contain any material that is defamatory, obscene, indecent, abusive, offensive, harassing, violent, hateful, inflammatory, or otherwise objectionable.
Promote sexually explicit or pornographic material, violence, or discrimination based on race, sex, religion, nationality, disability, sexual orientation, or age.
Infringe any patent, trademark, trade secret, copyright, or other intellectual property or other rights of any other person.
Violate the legal rights (including the rights of publicity and privacy) of others or contain any material that could give rise to any civil or criminal liability under applicable laws or regulations or that otherwise may be in conflict with these Terms of Use and our Privacy Policy.
Be likely to deceive any person.
Promote any illegal activity, or advocate, promote, or assist any unlawful act.
Cause annoyance, inconvenience, or needless anxiety or be likely to upset, embarrass, alarm, or annoy any other person.
Impersonate any person, or misrepresent your identity or affiliation with any person or organization.
Involve commercial activities or sales, such as contests, sweepstakes, and other sales promotions, barter, or advertising.
Give the impression that they emanate from or are endorsed by us or any other person or entity, if this is not the case.

Monitoring, Enforcement, and Termination

We have the right to:

Remove or refuse to post any User Contributions for any or no reason in our sole discretion.
Take any action with respect to any User Contribution that we deem necessary or appropriate in our sole discretion, including if we believe that such User Contribution violates the Terms of Use, including the Content Standards, infringes any intellectual property right or other right of any person or entity, threatens the personal safety of users of the Site or the public, or could create liability for the Company.
Disclose your identity or other information about you to any third party who claims that material posted by you violates their rights, including their intellectual property rights or their right to privacy.
Take appropriate legal action, including without limitation, referral to law enforcement, for any illegal or unauthorized use of the Site.
Terminate or suspend your access to all or part of the Site for any or no reason, including without limitation, any violation of these Terms of Use.

The Company neither endorses nor assumes any liability for any material uploaded or submitted by users on any part of the Site. Although we do not pre-screen, police or monitor comments posted on the Site, we and our agents reserve the right to remove any and all postings that we feel do not comply with these Terms and any other rules of user conduct for our Site, or are otherwise harmful, objectionable, or inaccurate. We are not responsible for any failure or delay in removing such postings.

Without limiting the foregoing, we have the right to cooperate fully with any law enforcement authorities or court order requesting or directing us to disclose the identity or other information of anyone posting any materials on or through the Site. YOU WAIVE AND HOLD HARMLESS THE COMPANY AND ITS AFFILIATES, LICENSEES, AND SERVICE PROVIDERS FROM ANY CLAIMS RESULTING FROM ANY ACTION TAKEN BY THE COMPANY/ANY OF THE FOREGOING PARTIES DURING, OR TAKEN AS A CONSEQUENCE OF, INVESTIGATIONS BY EITHER THE COMPANY/SUCH PARTIES OR LAW ENFORCEMENT AUTHORITIES.

Copyright Infringement

If you believe that any User Contributions violate your copyright, please send us an email with the following information:

Identification of the copyrighted or trademarked work that you claim has been infringed;
Identification of the allegedly infringing content, and information reasonably sufficient to permit Sellio to locate it on the Site (e.g., the URL for the web page on which the content appears);
A statement by you that you have a good faith belief that the use of the content identified in your notice in the manner complained of is not authorized by the copyright/trademark owner, its agent, or the law;
A statement by you that you attest, under penalty of perjury, that the information in your notice is accurate and that you are the copyright/trademark owner or authorized to act on the owner's behalf; and
Your physical or electronic signature, together with your contact information (address, telephone number and, if available, email address)

Communication Consent

Communication Consent. By submitting your information to Sellio or its affiliated websites and applications you are providing your consent to receive telemarketing calls, text messages, email messages, or other communications from Sellio. Additionally, you further agree that (i) we, our employees, agents, representatives, affiliates, or authorized third parties acting on our behalf may call or email you at the numbers and addresses you have provided for purposes of describing goods and services that may be of interest to you, offered by us and our affiliates, and/or authorized third parties; and (ii) these calls, and emails may be made using an automatic telephone dialing or email system technology and/or involve prerecorded and/or artificial voice messaging, even if it is a cellular phone number or other service for which the called person(s) could be charged for such call. Your consent, if provided, will be effective even if the number you have provided is registered on any state or federal Do-Not-Call (DNC) list.

This consent shall remain in effect until you revoke it. You may revoke your consent to these calls or other forms of communications from us by contacting us at 866-232-2035 emailing us at support@sellio.co or any other method that ensures we receive the revocation.

SMS Messages. You may opt-in to receive SMS notifications in the “Settings” page in you User Profile. By opting-in, you are providing your consent to receive SMS messages from us which may include marketing messages and/or transactional notifications regarding properties marketed on the Sellio platform or related products or services offered by us or our affiliates. These messages are recurring and on-going and may be sent outside of normal business hours based on the services and/or alerts you’ve requested. Message and data rates may apply. This means that you may be charged by your carrier for receiving the SMS message. You are not required to opt-in to receive SMS messages from us as a condition of obtaining any services from us. To unsubscribe (“opt-out”) from receiving SMS messages from us, the recommended way is to reply to our SMS message at any time using only the word “STOP”. Please note that failure to reply using only the word “STOP” may result in an unsuccessful opt-out

Third Parties

Third-Party Links. If the Site contains links to other sites and resources provided by third parties, these links are provided for your convenience only. This includes links contained in advertisements, including banner advertisements and sponsored links. We have no control over the contents of those sites or resources, and accept no responsibility for them or for any loss or damage that may arise from your use of them. If you decide to access any of the third-party websites linked to this Site, you do so entirely at your own risk and subject to the terms and conditions of use for such websites.

Third-Party Promotions. From time to time, our Site may include advertisements offered by third parties. You may enter into correspondence with or participate in promotions of the advertisers showing their products on our Site. Any such correspondence or promotions, including the delivery of and the payment for goods and services by those third parties, and any other terms, conditions, warranties or representations associated therewith, are solely between you and the advertiser. We assume no liability, obligation or responsibility for any part of any such correspondence or promotion.

Miscellaneous Provisions

Geographic Restrictions. The owner of the Site is based in the State of North Carolina in the United States. We provide this Site for use only by persons located in the United States. We make no claims that the Site or any of its content is accessible or appropriate outside of the United States. Access to the Site may not be legal by certain persons or in certain countries. If you access the Site from outside the United States, you do so on your own initiative and are responsible for compliance with local laws.

Disclaimer of Site Warranties. You understand that we cannot and do not guarantee or warrant that files available for downloading from the internet or the Site will be free of viruses or other destructive code. You are responsible for implementing sufficient procedures and checkpoints to satisfy your particular requirements for anti-virus protection and accuracy of data input and output, and for maintaining a means external to our site for any reconstruction of any lost data.

TO THE FULLEST EXTENT PROVIDED BY LAW, WE WILL NOT BE LIABLE FOR ANY LOSS OR DAMAGE CAUSED BY A DISTRIBUTED DENIAL-OF-SERVICE ATTACK, VIRUSES, OR OTHER TECHNOLOGICALLY HARMFUL MATERIAL THAT MAY INFECT YOUR COMPUTER EQUIPMENT, COMPUTER PROGRAMS, DATA, OR OTHER PROPRIETARY MATERIAL DUE TO YOUR USE OF THE SITE OR ANY SERVICES OR ITEMS OBTAINED THROUGH THE SITE OR TO YOUR DOWNLOADING OF ANY MATERIAL POSTED ON IT, OR ON ANY WEBSITE LINKED TO IT.

WE PROVIDE THE SELLIO PLATFORM AND ALL CONTENT “AS IS” WITHOUT WARRANTY OF ANY KIND AND WE DISCLAIM ALL WARRANTIES, WHETHER EXPRESS OR IMPLIED. FOR EXAMPLE: (I) WE DO NOT ENDORSE OR WARRANT THE EXISTENCE, CONDUCT, PERFORMANCE, SAFETY, QUALITY, LEGALITY OR SUITABILITY OF ANY SELLER OR BUYER; (II) WE DO NOT WARRANT THE PERFORMANCE OR NON-INTERRUPTION OF THE SELLIO PLATFORM; AND (III) WE DO NOT WARRANT THAT VERIFICATION, IDENTITY OR BACKGROUND CHECKS CONDUCTED ON LISTINGS OR USERS (IF ANY) WILL IDENTIFY PAST MISCONDUCT OR PREVENT FUTURE MISCONDUCT. ANY REFERENCES TO A USER OR LISTING BEING "VERIFIED" (OR SIMILAR LANGUAGE) INDICATE ONLY THAT THE USER OR LISTING HAS COMPLETED A RELEVANT VERIFICATION OR IDENTIFICATION PROCESS AND NOTHING ELSE. THE DISCLAIMERS IN THESE TERMS APPLY TO THE MAXIMUM EXTENT PERMITTED BY LAW. IF YOU HAVE STATUTORY RIGHTS OR WARRANTIES WE CANNOT DISCLAIM, THE DURATION OF ANY SUCH STATUTORILY REQUIRED RIGHTS OR WARRANTIES, WILL BE LIMITED TO THE MAXIMUM EXTENT PERMITTED BY LAW.THE FOREGOING DOES NOT AFFECT ANY WARRANTIES THAT CANNOT BE EXCLUDED OR LIMITED UNDER APPLICABLE LAW.

Limitation on Liability. TO THE FULLEST EXTENT PROVIDED BY LAW, IN NO EVENT WILL THE COMPANY, ITS AFFILIATES, OR THEIR LICENSORS, SERVICE PROVIDERS, EMPLOYEES, AGENTS, OFFICERS, OR DIRECTORS BE LIABLE FOR DAMAGES OF ANY KIND, UNDER ANY LEGAL THEORY, ARISING OUT OF OR IN CONNECTION WITH YOUR USE, OR INABILITY TO USE, THE SITE, ANY WEBSITES LINKED TO IT, ANY CONTENT ON THE SITE OR SUCH OTHER WEBSITES, INCLUDING ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, INCLUDING BUT NOT LIMITED TO, PERSONAL INJURY, PAIN AND SUFFERING, EMOTIONAL DISTRESS, LOSS OF REVENUE, LOSS OF PROFITS, LOSS OF BUSINESS OR ANTICIPATED SAVINGS, LOSS OF USE, LOSS OF GOODWILL, LOSS OF DATA, AND WHETHER CAUSED BY TORT (INCLUDING NEGLIGENCE), BREACH OF CONTRACT, OR OTHERWISE, EVEN IF FORESEEABLE.

THE FOREGOING DOES NOT AFFECT ANY LIABILITY THAT CANNOT BE EXCLUDED OR LIMITED UNDER APPLICABLE LAW.

Indemnification. You agree to defend, indemnify, and hold harmless the Company, its affiliates, licensors, and service providers, and its and their respective officers, directors, employees, contractors, agents, licensors, suppliers, successors, and assigns from and against any claims, liabilities, damages, judgments, awards, losses, costs, expenses, or fees (including reasonable attorneys' fees) arising out of or relating to your violation of these Terms of Use or your use of the Site, including, but not limited to, your User Contributions, any use of the Site's content, services, and products other than as expressly authorized in these Terms of Use, or your use of any information obtained from the Site.

Governing Law and Jurisdiction. All matters relating to the Site and these Terms of Use, and any dispute or claim arising therefrom or related thereto (in each case, including non-contractual disputes or claims), shall be governed by and construed in accordance with the internal laws of the State of North Carolina without giving effect to any choice or conflict of law provision or rule (whether of the State of North Carolina or any other jurisdiction).

Any legal suit, action, or proceeding arising out of, or related to, these Terms of Use or the Site shall be instituted exclusively in the federal courts of the United States or the courts of the State of North Carolina, in each case located in the City of Charlotte and County of Mecklenburg, although we retain the right to bring any suit, action, or proceeding against you for breach of these Terms of Use in your country of residence or any other relevant country. You waive any and all objections to the exercise of jurisdiction over you by such courts and to venue in such courts.

Arbitration. At Company's sole discretion, it may require You to submit any disputes arising from these Terms of Use or use of the Site, including disputes arising from or concerning their interpretation, violation, invalidity, non-performance, or termination, to final and binding arbitration under the Rules of Arbitration of the American Arbitration Association applying North Carolina law.

Limitation on Time to File Claims. ANY CAUSE OF ACTION OR CLAIM YOU MAY HAVE ARISING OUT OF OR RELATING TO THESE TERMS OF USE OR THE SITE MUST BE COMMENCED WITHIN ONE (1) YEAR AFTER THE CAUSE OF ACTION ACCRUES; OTHERWISE, SUCH CAUSE OF ACTION OR CLAIM IS PERMANENTLY BARRED.

Waiver and Severability. No waiver by the Company of any term or condition set out in these Terms of Use shall be deemed a further or continuing waiver of such term or condition or a waiver of any other term or condition, and any failure of the Company to assert a right or provision under these Terms of Use shall not constitute a waiver of such right or provision.

If any provision of these Terms of Use is held by a court or other tribunal of competent jurisdiction to be invalid, illegal, or unenforceable for any reason, such provision shall be eliminated or limited to the minimum extent such that the remaining provisions of the Terms of Use will continue in full force and effect.

Entire Agreement

The Terms of Use and our Privacy Policy constitute the sole and entire agreement between you and Sellio regarding the Site and supersede all prior and contemporaneous understandings, agreements, representations, and warranties, both written and oral, regarding the Site.

Your Comments and Concerns

This Site is operated by HG Management Services, Inc. DBA Sellio™ at 1823 Stampede Ave Cody Wyoming 82414. Charlotte NC office at 3540 Toringdon Way STE 200 Charlotte NC 28277.

All other feedback, comments, requests for technical support, and other communications relating to the Site should be directed to: support@sellio.co.

TERMS OF PARTICIPATION

These Terms of Participation (“Terms”) apply to each auction or other marketing or transaction event (each, an “Auction”) conducted by Sellio.co and/or its affiliates (collectively, “Sellio.co”) on behalf of a seller (each, a “Seller”) of real property or secured note(s) (each, a “Property”, and collectively, “Properties”). As used in these Terms, each prospective buyer who participates in any Event is a “Participant”. “Winning Bidder” is the Participant that (a) submits the highest net bid in an auction Event and is acknowledged by Sellio.co by email to Winning Bidder, or (b) submits any offer during any Event that is accepted by Seller. As used in these Terms, each bid or offer submitted in any Event is an “Offer”.

Sellio.co is a platform for Seller’s to solicit bids on their Property, and is not acting as an agent for any Participant in any capacity. By registering for an Event or submitting an Offer Participant acknowledges having read and accepted these Terms. By submitting an Offer on a Property, Participant is deemed to have accepted any additional terms and conditions posted on the Property’s details page on the Website (“Property Page”) at the time the Offer was submitted, and such terms and conditions shall govern and control over these Terms to the extent of any conflict.

Sellio.co’s Website Terms of Use https://www.sellio.co/TOS and Privacy Statement are incorporated into these Terms by reference.

Participation Prerequisites

Account. Using our Services may require you to create an account. If you choose, or are provided with, a user name, password, or any other piece of information as part of our security procedures, you must treat such information as confidential, and you must not disclose it to any other person or entity. You also acknowledge that your account is personal to you and agree not to provide any other person with access to this Site or portions of it using your user name, password, or other security information. You agree to notify us immediately of any unauthorized access to or use of your user name or password or any other breach of security. You also agree to ensure that you exit from your account at the end of each session. You should use particular caution when accessing your account from a public or shared computer so that others are not able to view or record your password or other personal information.

We have the right to disable any user name, password, or other identifier, whether chosen by you or provided by us, at any time in our sole discretion for any or no reason, including if, in our opinion, you have violated any provision of these Terms of Use.

Bidder Requirements. You must be a registered user of the Sellio.co website in order to submit a bid or offer. After registration, buyers may enter a deal room, bid on a property, approve the terms of service and place a bid deposit. Buyers will receive email and text updates for the properties they bid on. Creating an account on Sellio is free but there are different fees, deposits, and credit card holds that you may be required to pay to place a bid or if you become a Winning Bidder.

Due Diligence

Due Diligence. It is each Participant’s responsibility to conduct its own due diligence and investigate all matters relating to each Property that Participant is interested in purchasing, including, without limitation, legal matters, physical condition and attributes, environmental matters, economic matters, encumbrances, and all other aspects. All Bids should be based solely on Participant’s independent due diligence and any information contained in the Purchase Documents.

Property information has been gathered from a variety of sources and has not been independently verified by Sellio. This information is provided on an “as is, as available” basis with all faults and defects. Participant may use this information for their own internal purposes and in a manner that is usual and customary for professionals within the ordinary scope of Participant’s licensed or regular business activity. Participants are encouraged to consult with a licensed real estate broker, contractor, attorney, financial advisor, tax advisor, and/or other relevant professionals.

Participant is responsible for all liability, damages and/or costs directly or indirectly arising from Participant’s inspection, visit, or investigation of the Property. Participant agrees to indemnify, defend and hold harmless Seller and Sellio from any such liability, damages and/or costs, and to maintain all applicable policies of insurance insuring over such liability, damages and/or costs.

For Buyers

Bid Deposits and Fund Verifications. Bid deposits is the amount of $3,000.00 are required to bid on a property and serve as collateral. Once a Buyer registers to bid on a specific property, they authorize Sellio to place a $3,000.00 hold on the Buyer’s credit card. After registering and making the Bid Deposit, the Buyer will be required to submit Proof of funds (letter of credit, bank letter, other proof of funds deemed acceptable in the sole discretion of Sellio) and a government issued photo ID for proof of identity.

Intent to Purchase. Sellers who market their properties on Sellio are not making an offer to other Participants to contract, they are inviting Participants to make an offer to contract with them. Accordingly, Sellers can withdraw the property from the Auction at any time. Placing a bid on a Property demonstrates your intent to purchase that Property and will constitute your acceptance of the Sellers invitation to make an offer to enter into a contract with the Seller. When you place a bid, your bid will remain open until the earlier of (i) Seller accepting the bid via Seller’s execution of the Purchase Agreement after the Purchase Agreement has been executed by all required parties, (ii) Seller selling the property to another Bidder, or (iii) the Seller removing the Property from the Auction. As a Bidder, you are obligated to complete the transaction with the Seller if you submit the Winning Bid. NOTWITHSTANDING THE FOREGOING OR ANYTHING IN THIS AGREEMENT OR ANY OTHER DOCUMENTATION TO THE CONTRARY, BY RECEIVING ANY BID, INCLUDING WITHOUT LIMITATION A SELECTED BID, THE SELLER IS NOT OBLIGATED TO SELL THE PROPERTY TO THE BIDDER, OR ANY OTHER PERSON OR ENTITY UNTIL A PURCHASE AGREEMENT HAS BEEN EXECUTED BY THE SELLER AND ANY OTHER PERSONS OR ENTITIES REQUIRED BY THE PURCHASE AGREEMENT.

Purchase Documents. Once the Winning Bidder is selected Purchase Documents will be emailed to the Winning Bidder’s email address on file with Sellio. The Winning Bidder must execute the Purchase Documents within 24 hours of the completion of the Auction Event or the Winning Bidder may be deemed to be in default of their obligations. If a Winning Bidder is deemed to be in default, the Seller may reject the Winning Bidders offer. The Bid Deposit will be charged and retained by Sellio and the next highest Bidder will become the Winning Bidder.

Earnest Money Deposit. The Winning Buyer to pay a deposit to the escrow/closing agent as described by the Property Details page. The amount of the Earnest Money Deposit is specified in the Purchase Documents or the Property Details Page for each Property. Unless otherwise specified in the Purchase Documents, the Earnest Money Deposit must be received by the escrow or closing agent no later than two business days after Winning Buyer receives wire instructions, time being of the essence. If the Earnest Money Deposit is not timely received, Sellio or Seller may declare Winning Buyer to be in default of these Terms and Seller may reject Winning Buyer’s Offer.

Auction Fee. An Auction Fee is charged to most Buyer’s who purchase a property through the Sellio platform as part of an Auction event. The amount of the Auction Fee varies, and will be displayed on the Property Details page in the “Fees” section. The Auction Fee is payable to Sellio and is in addition to any other fees and expenses.

FOR SELLERS

Seller Requirements

Sellers are required to register with Sellio before placing a listing. Sellers must provide details of the property and after approval, they will work with Sellio’s platform to set up the auction.

FOR BROKERS AND AGENTS

Licensed Real Estate Agents and Brokers acting in their professional capacity on behalf of a client, are permitted and encouraged to use the Sellio Platform, subject to the conditions below.

Any Licensed Real Estate Agent who markets a property on Sellio or the Affiliated Websites and Applications on behalf of a Seller hereby:

acknowledges that marketing the property on Sellio or the Affiliated Websites and Applications does not ensure or guarantee that the property will receive offers, receive bids, or be sold;
represents and warrants to Sellio that the marketing is made on behalf of, and with permission from, the Seller of such property;
agrees to enter the correct Listing Price or Reserve Price under proper authority of the Seller;
agrees to enter a proper description of the property and to ensure all other information regarding the property is correct during the entire time the property is marketed on Sellio™ or the Affiliated Websites and Applications;
agrees to specify in the appropriate MLS listing(s) that all property offers should be made and entered through the Sellio platform;
agrees to enter or have entered on Sellio or the Affiliated Websites and Applications any offer such Licensed Real Estate Agent or the Seller of such property receives to purchase such property outside of Sellio or the Affiliated Websites and Applications; and
agrees to indicate on Sellio or the Affiliated Websites and Applications within a reasonable timeframe whether the Seller of the property has accepted a Selected Bid for the property.

Licensed Real Estate Agent Indemnification. Any Licensed Real Estate Agent who adds a property to Sellio™ or the Affiliated Websites and Applications shall indemnify, defend, and hold Sellio and their respective parents, subsidiaries, affiliates, and their respective officers, employees, agents and representatives harmless from and against any and all damages, costs, fees (including actual attorney’s fees incurred) arising out of any disputes relating to the marketing of such property on Sellio or the Affiliated Websites and Applications.

DISCLAIMERS AND REPRESENTATIONS

SELLIO MAKES NO REPRESENTATIONS OR WARRANTIES OF ANY KIND OR CHARACTER WHATSOEVER, WHETHER EXPRESS OR IMPLIED, WITH RESPECT TO ANY PROPERTY, OR THE LEGAL SUFFICIENCY OR TAX CONSEQUENCES OF ANY DOCUMENT PROVIDED BY SELLIO. EACH PARTICIPANT HEREBY RELEASES SELLIO AND ITS EMPLOYEES, OFFICERS, DIRECTORS, REPRESENTATIVES, ATTORNEYS, BROKERS AND AGENTS (COLLECTIVELY, “REPRESENTATIVES”) FROM ANY AND ALL CLAIMS THAT ANY SUCH PARTICIPANT MAY NOW HAVE OR HEREAFTER ACQUIRE AGAINST SELLIO OR ANY OF ITS REPRESENTATIVES FOR ANY DAMAGE OR INJURY RESULTING FROM OR RELATING TO ANY ERRORS, OMISSIONS OR OTHER CONDITIONS AFFECTING ANY PROPERTY, THE DOCUMENTS USED IN EVALUATING OR ACQUIRING ANY PROPERTY, OR THE CONDUCTING OF ANY EVENT. THIS RELEASE INCLUDES CLAIMS OF WHICH PARTICIPANT IS PRESENTLY UNAWARE OR DOES NOT PRESENTLY SUSPECT TO EXIST IN PARTICIPANT’S FAVOR WHICH, IF KNOWN BY PARTICIPANT, WOULD MATERIALLY AFFECT PARTICIPANT’S RELEASE OF SELLIO.

Whiteville 3/2