Acre Bid

AcreBid Terms & Conditions of Sale

By registering, bidding, or participating in AcreBid auctions, you agree to these terms.

1. Auction Format

All properties listed on AcreBid are offered through a no-reserve auction format. The opening bid represents the minimum bid.

All bids are final, binding, and irrevocable. By placing a bid, you enter into a legally binding agreement to purchase the property if you are the highest bidder at auction close.

2. Buyer's Premium & Closing Costs

A 10% Buyer's Premium will be added to the final winning bid.

A $500 closing fee will be charged, which includes:

  • Deed preparation
  • Recording fees
  • Transfer taxes

3. Payment Terms

Payment must be made directly to ACRE BID LLC.

  • Full payment is due within 5 (five) business days from auction close
  • Accepted forms of payment: Wire Transfer, Zelle, U.S. Currency
  • Certified Cashier's Check (payable to ACRE BID LLC)

AcreBid will contact the winning bidder within 24 hours with payment instructions.

4. Default

Failure to complete payment within the required timeframe may result in:

  • Immediate default status
  • Account termination and permanent ban
  • Loss of bidding privileges
  • Potential legal action to recover damages

AcreBid reserves all rights permitted under California law.

5. Due Diligence Requirement

All bidders are solely responsible for conducting independent due diligence prior to bidding.

AcreBid provides information for convenience only and does not guarantee accuracy or completeness. Bidders must independently verify:

  • Title condition
  • Zoning, land use, and restrictions
  • Access (legal and physical)
  • Utilities and development feasibility
  • Parcel boundaries and location
  • Any liens, encumbrances, or assessments

By bidding, you confirm you have completed all due diligence and accept all risks associated with the property.

6. Property Condition & Disclaimer

All properties are sold "AS IS, WHERE IS, WITH ALL FAULTS."

AcreBid makes no representations or warranties, express or implied, including condition or suitability of the property, accuracy of listing information, availability of access or utilities, buildability, or permitted use.

All sales are final. No refunds or cancellations.

7. California Buyer Waiver (Civil Code § 1542)

Buyer expressly waives the provisions of California Civil Code § 1542, which provides: "A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor…"

By agreeing to these terms, Buyer waives all rights to unknown or unanticipated claims relating to the purchase.

8. Conveyance of Title

  • Properties are conveyed via Grant Deed
  • AcreBid will prepare and record the deed after full payment
  • Buyer must provide accurate vesting information
  • AcreBid is not responsible for vesting errors provided by Buyer

9. Possession

Ownership transfers upon recording of the Grant Deed.

Buyer assumes full responsibility upon transfer, including:

  • Possession
  • Compliance with local laws
  • Property maintenance and obligations

10. Limitation of Liability

To the fullest extent permitted by California law, AcreBid shall not be liable for:

  • Direct, indirect, incidental, or consequential damages
  • Loss of profits, investment, or opportunity
  • Errors or omissions in property information

Buyer's sole remedy shall be limited to return of funds paid, if applicable and at AcreBid's sole discretion.

11. Arbitration Agreement (California)

Any dispute, claim, or controversy arising out of or relating to AcreBid transactions shall be resolved through binding arbitration in the State of California.

  • Arbitration shall be conducted under the rules of the American Arbitration Association
  • Venue shall be in Los Angeles County, California
  • Each party shall bear its own legal fees unless otherwise awarded
  • By participating, you waive your right to a jury trial or class action

12. Governing Law

These Terms & Conditions shall be governed by and construed in accordance with the laws of the State of California.

13. Final Sale

All auctions are final and non-contingent. No cancellations, rescissions, or renegotiations are permitted after auction close.

14. Acceptance of Terms

By registering, bidding, or participating in AcreBid auctions, you acknowledge and agree to be bound by these Terms & Conditions.