Terms and Conditions

1. Binding Offer

When you submit an offer on a real estate property through openrealty, you are making a binding commitment to purchase the property at the specified price and terms, subject to acceptance by the seller and any additional terms and conditions specified by openrealty.

2. No Guarantee of Acceptance or Sale

Submission of an offer through openrealty does not guarantee that the seller will accept the offer. The seller has the sole discretion to accept or reject any offer, or to negotiate further with any potential buyer. Additionally, openrealty does not guarantee that all homes listed by us or available through our search tool will sell.

3. Role of openrealty

openrealty acts in various capacities in real estate transactions, including but not limited to, serving as the listing broker, representing the buyer, or facilitating transactions as a dual agent. Our website features an MLS search tool that allows users to browse properties listed by other brokers, in addition to our own listings. We are not responsible for any details or features of the listings displayed on our site from other brokerages.

3.1. Representation in Transactions

If you wish to submit an offer on a property not listed by openrealty and choose openrealty as your agent, you must formally acknowledge and accept our representation. If you are already working with another agent, we encourage you to continue your engagement with them or formally terminate their services before proceeding with openrealty.

4. Monitoring and Flagging of Offers

openrealty actively monitors offers submitted through our platform to ensure their legitimacy and seriousness. We reserve the right to flag and communicate to sellers any offers that appear problematic or contain variables outside of normal bounds.

5. Automated Offer Grading

openrealty utilizes an automated system to grade and evaluate offers submitted through our platform. This tool is designed to assist in the evaluation process, but it does not replace the insights and judgment of an agent. It is used as a complementary tool to help sellers and their agents make more informed decisions. Users should conduct their own due diligence and consult with their agents or other real estate professionals to ensure they are making the best decisions for their circumstances.

6. Use of Blockchain Technologies

openrealty utilizes blockchain technologies, specifically Ethereum and Polygon, to anonymize and store details of the offers in an immutable data store. This is done to verify the legitimacy of every offer submitted through our platform. By submitting an offer, you agree to the use of these blockchain technologies and understand that anonymized data from your offer will be stored in these systems.

7. Contact Information

If you have any questions about these terms, please contact us at:

openrealty

500 North Brand Boulevard, 20th Floor

Glendale, CA 91203

By submitting an offer through openrealty, you acknowledge that you have read, understood, and agree to be bound by these terms of use.