ZipRealty Listing Guarantee Terms and Conditions
This ZipRealty Listing Guarantee (the "Program") is available to eligible ZipRealty Clients subject to the following Terms and Conditions ("Terms"):
Client Eligibility Criteria
A registered ZipRealty Client ("Client") who:
- Lists his or her home for sale (the "Property") with ZipRealty under a signed 6-month Listing Agreement between July 9, 2011 and September 9, 2011 (the "ZipRealty Listing Agreement");
- Lists the Property at the list price recommended by the ZipRealty Agent in the ZipRealty Listing Agreement (the "Zip List Price");
- Has not entered into a contract for sale of the Property on or before the expiration of the initial term of the ZipRealty Listing Agreement ("the ZipRealty Listing Period");
- Has not rejected any "Bona Fide Offer" (as defined below) at or above the Zip List Price;
- Upon expiration of the ZipRealty Listing Agreement and the ZipRealty Listing Period, enters into a listing agreement with a non-ZipRealty agent (the "non-ZipRealty Listing Agreement") within 10 days of the last day of the ZipRealty Listing Period;
- Enters, upon expiration of the ZipRealty Listing Agreement and the ZipRealty Listing Period, into a contract for sale of the Property within 120 days of the execution of the non-ZipRealty Listing Agreement;
- Closes escrow within 60 days of execution of the contract for sale of the Property; and
- Sells the Property, subject to these Terms, at or above the Zip List Price, shall be eligible to receive a reimbursement from ZipRealty equal to the amount of commission that Client paid to the non-ZipRealty listing agent as identified in the non-ZipRealty Listing Agreement, up to a maximum of 3% of the Zip List Price.
Property Eligibility Criteria
To be eligible for this Program:
- The Property must be Client's "Primary Residence," which is defined as the residence the Client occupied within thirty days of the close of escrow and intended to occupy, and did occupy, on a full-time basis continuously through the sale of the Property.
- Client's name appears on the title of the Property.
- The Property cannot be a short-sale, foreclosure, or other real-estate owned ("REO") listing.
- Multi-unit and investment properties, defined as those properties that are not occupied solely by the owner and were specifically purchased to generate profit through rental income (even if Client occupies one unit in the multi-unit building) or capital gains, are expressly excluded from this Program.
- The Property must be relisted on the local Multiple Listing Service ("MLS") by the non-ZipRealty listing agent.
- The Property must be relisted in the same condition as it was during the ZipRealty Listing Period.
Additional Conditions and Limitations
- The Program is limited to Properties located in and serviced by ZipRealty's San Francisco District, Silicon Valley District, San Francisco East Bay District, and Washington D.C. District. For specific cities, towns, and neighborhoods served by ZipRealty's San Francisco District, please click here. For specific cities, towns, and neighborhoods served by ZipRealty's Silicon Valley District, please click here. For specific cities, towns, and neighborhoods served by ZipRealty's San Francisco East Bay District, please click here. For specific cities, towns, and neighborhoods served by ZipRealty's Washington D.C. District, please click here.
- This Program shall be limited to the sale of only one Property per Client.
- Client shall not be eligible to participate in this Program if Client declines to accept a "Bona Fide Offer" for the Property with a "Purchase Price" (which shall refer to the monetary amount paid for the Property excluding any other terms, conditions, payments or concessions) that is equal to or greater than the Zip List Price. For purposes of this Program "Bona Fide Offer" shall mean any legitimate offer from an individual(s) or business entity that can establish the financial ability through a lender preapproval letter or other documentation of the ability to purchase the Property at the amount offered.
- The Client must agree to grant ZipRealty an exclusive right to sell the property and to refer all inquiries to ZipRealty and further agrees to a reasonable listing period of at least six months.
- Client agrees to cooperate with ZipRealty in all marketing efforts, showing of the property and any other action reasonably necessary to procure a ready, willing, and able buyer.
- Client agrees to refrain from taking any action that would detrimentally affect the amount of the Zip List Price.
- Client shall provide to ZipRealty and/or authorize ZipRealty to collect any documentation that ZipRealty requests in the exercise of reasonable discretion to validate eligibility for this Program including but not limited to the non-ZipRealty Listing Agreement, a copy of Client's Final Closing Statement or HUD-1, a title search, or any other documents ZipRealty deems necessary.
- ZipRealty shall determine whether Client has met all conditions set forth in these Terms. In the event that ZipRealty determines within the exercise of reasonable discretion that Client does not meet all of the conditions set forth in these Terms, Client shall not be eligible to receive reimbursement through this Program. Client understands and agrees that ZipRealty shall make all determinations regarding whether a Client has satisfied the requirements for reimbursement through the Program and that all such decisions will be final and binding.
- If Client believes that he or she qualifies for this Program, Client shall complete the Program Claim Form and mail it to:
Attn: ZipRealty Listing Guarantee
2000 Powell Street, Suite 300
Emeryville, CA 94608
- Client shall provide proof of commission paid to the non-ZipRealty Listing Agent in the form of the non-ZipRealty Listing Agreement, a Final Closing Statement, the HUD-1, and any other documents requested by ZipRealty.
- ZipRealty will review Client's request and collect all information necessary to confirm Client's eligibility for this Program.
- Within 30 days of ZipRealty's receipt of Client's completed Program Claim Form and all related documents requested by ZipRealty, ZipRealty will notify Client in writing whether or not Client is eligible for reimbursement through the Program. If Client is eligible for reimbursement through the Program, Client will receive a check within 30 days from the date ZipRealty notifies Client in writing of Client's eligibility.
Agreement Changes and Terms
Termination by ZipRealty Inc.
ZipRealty may terminate this Program at any time at ZipRealty's discretion without notice. However, ZipRealty and Client shall be bound by the terms of any fully executed Listing Agreement between the parties.
Limitation of Liability