Customer Agreement
Please read this information carefully and print and retain this information electronically for future reference. This is a binding contract.
THIS CUSTOMER AGREEMENT (“AGREEMENT” OR “BLOOMKEY.COM CUSTOMER AGREEMENT”) IS A BINDING AGREEMENT BETWEEN REALTY THRIFT, LLC (“BLOOMKEY” OR, if applicable, “BROKER”) AND YOU AND, IF APPLICABLE, THE COMPANY OR OTHER LEGAL ENTITY YOU REPRESENT (COLLECTIVELY, “YOU”, “SELLER”, “BUYER”, “CUSTOMER” OR “USER”). THIS AGREEMENT INCORPORATES BY REFERENCE (1) THE PRIVACY NOTICE (“PRIVACY POLICY”), (2) CONSENT TO ELECTRONIC DISCLOSURES (“CONSENT TO ELECTRONIC DISCLOSURES”), (3) THE BLOOMKEY AGENCY POLICY (“AGENCY POLICY”) AND (4) THE TERMS AND CONDITIONS OF WEBSITE USE (“TERMS OF USE”) POSTED ON WWW.BLOOMKEY.COM, AS THEY MAY BE MODIFIED BY BLOOMKEY FROM TIME TO TIME.
BY CLICKING THE “ACCEPT”, “SUBMIT” OR “I AGREE” BUTTON FOR THIS AGREEMENT OR ACCEPTING ANY MODIFICATION TO THIS AGREEMENT IN ACCORDANCE WITH SECTION ENTITLED “MODIFICATIONS TO THIS AGREEMENT” BELOW, YOU AGREE TO BE BOUND BY THE TERMS AND CONDITIONS OF THIS AGREEMENT. IF YOU ARE ENTERING INTO THIS AGREEMENT ON BEHALF OF A COMPANY OR OTHER LEGAL ENTITY, YOU REPRESENT THAT YOU HAVE THE LEGAL AUTHORITY TO BIND THE LEGAL ENTITY TO THIS AGREEMENT, IN WHICH CASE “YOU” SHALL MEAN SUCH ENTITY. IF YOU DO NOT HAVE SUCH AUTHORITY, OR IF YOU DO NOT AGREE WITH THE TERMS AND CONDITIONS OF THIS AGREEMENT, YOU MAY NOT USE THE SERVICES.
Modifications to this Agreement
You agree that we may modify this Agreement or any policy or other terms referenced in this Agreement (collectively, “Additional Policies”) at any time by posting a revised version of the Agreement or such Additional Policy on the Bloomkey Website. The revised terms shall be effective as follows:
* if the revised terms are (a) for any Paid Services which we are adding at the time of the revision, (b) for Bloomkey Property Listing Services, (c) for the Privacy Notice, (d) for the Terms of Use, (e) for any Buyer Rebate Services, (f) for any other general terms and conditions applicable to our services, web sites or other properties, or (g) for any Free Service, then the revised terms shall be effective upon posting (unless we expressly state otherwise at the time of posting); and
* if the revised terms are otherwise for any then-existing Paid Services, then the revised terms shall be effective upon the earlier to occur of (a) seven (7) days after posting and (b) if we provide a mechanism for your immediate acceptance of the revised terms, such as a click-through confirmation or acceptance button, your acceptance.
By continuing to use or receive the Services after the effective date of any revisions to this Agreement or any Additional Policies, you agree to be bound by the revised Agreement or any revised Additional Policies. It is your responsibility to check the Bloomkey Website regularly for changes to this Agreement or the Additional Policies, as applicable. We last modified this Agreement on the date set forth at the top of this Agreement.
How to Contact Us. You can contact us by Online Help Desk (preferred method) or by calling us toll-free at (800) 974-6657, by faxing us at 1-866-317-3872.
SERVICES TO BUYERS OF REAL ESTATE
Central Virginia Home Buyer Connect Rebate Program
When you buy a home or real estate through the Central Virginia Home Buyer Connect Rebate Program (the ‘Program’) you may receive a rebate or credit of a portion of the commission paid by the seller in accordance with the following terms and conditions. By participating in the Program to purchase a Property through licensed real estate brokerage, Bloomkey, you acknowledge and agree to these terms and conditions. You hereby agree to allow Bloomkey to represent you as either your ‘buyer agent‘, ‘dual agent‘ or, where allowed by law, a ‘transaction broker‘ , for the purchase of real estate within the Central Virginia area. You may receive a rebate of up to 1% of the property sales price determined by the amount of the buyer agent commission paid by the Seller/Listing Broker as advertised through the Central Virginia Multiple Listing Service (MLS). Bloomkey will retain at a minimum 2% commission based on the property’s final sales price as indicated on the Settlement Statement at closing. The balance of the Buyer Agent commission will be rebated to you in an amount of up to 1% of the final sales price of the property. Rebates will be paid in the form of a credit at closing or, where allowed by law and requested as herein described below, company check from Bloomkey in the amount appropriate for your Property Purchase Sales Price within 15 days of your closing. If you would prefer a rebate over a credit you must give written notice to Bloomkey at least 10 business days prior to settlement. Rebates are not be available in all states. Where a mortgage loan is involved in the purchase of real estate, a credit in the amount of the rebate must be reflected on the settlement statement and no monies may be rebated that are not included on the settlement statement. In states where cash rebates or closing credits are not allowed by law no rebate will be due or payable. If applicable, it is your responsibility to confirm that the appropriate credit is made at settlement and appears on the settlement statement prior to settlement. The Program currently only available in Central Virginia. Alternatively, you may allow Bloomkey to refer you to an affiliate providing buyer agent services. Affiliate buyer agent services terms and conditions may differ from those of Bloomkey’s.
Bloomkey cannot represent you in the purchase of a property, if you are obligated to work with another broker on that purchase. You cannot currently be a party to any buyer’s broker agreement, dual agency agreement or other real estate brokerage agreement regarding a purchase. You will not ask us to represent you with respect to a property, if you have such an agreement with any other person that applies to the property. In order to be eligible for discounts and/or rebates from Bloomkey you must purchase and settle on a property with Bloomkey acting as the selling and/or buyer’s agent. If you visit an Open House or otherwise preview a property without indicating to the listing agent in advance that Bloomkey will be acting as your sole buyer agent you may forfeit your ability to participate in the Program. You should make it clear that Bloomkey is representing you as your broker by following these steps. 1) Print a Bloomkey business card from the web site before going to an appointment or Open House. 2) Schedule appointments to see homes notifying the showing agent or owner that Bloomkey will be acting as your agent. 3) Give the Bloomkey business card to the listing agent, showing agent and/or owner and inform them that Bloomkey is your broker and will be representing you in the sale. 4) Make any offer for the home through Bloomkey. 5) Conduct all contract negotiations and subsequent contact with the lising agent and/or owner through Bloomkey. For flat-fee home showing services, please visit: Home Showing Services.
You must provide Bloomkey with a Mortgage Pre-Approval letter from a qualified mortgage lending institution dated within 30 days prior to your making an offer indicating your ability to purchase the Property intended prior to the submission of your Purchase Offer. Offers must be within 90% of list price or appraised value, whichever is lower. This requirment may be waived at Bloomkey’s sole discretion on a case by case basis. State law may require us to provide you with certain disclosures regarding agency relationships. If we provide such a Real Estate Agency Disclosure and ask you to sign it, you will do so. You agree to allow Bloomkey to provide any paperwork and documentation necessary to complete your purchase in electronic format. If you are unable to receive or store documents in electronic format, Bloomkey may, at your expense, send you documents by overnight mail, U.S. Postal Service or other delivery method. To request documents in paper format, call 1-800-974-6657. Without limitation of the foregoing, you agree that: (i) if we provide or make available to you any document in electronic form, it will be treated for all purposes as if we delivered to you an original of the document in paper form, and a printed version of such electronic Document will be admissible in any proceeding to the same extent as any document originally printed in paper form; (ii) if we send an email to an email address for you as then reflected in our records, which email has an electronic copy of a Document attached to it (or has a link to an electronic copy of a document or to a page from which such electronic copy is available), such email will be treated for all purposes as if we delivered an original of the document in paper format to you at the time the email was sent; (iii) your electronic signature of any document will be binding and will be treated for all purposes as if you physically signed (and initialed all spaces for your initials in) such Document (including initials indicating your agreement to any arbitration provision); and (iv) you will notify Bloomkey immediately if you are unable to print or store any document in electronic form that we provide or make available to you.
Bloomkey will use reasonable efforts to cause the Rebate to be paid as a credit against the purchase price and/or closing costs at the closing; provided, however, that (i) if allowed by law and the mortgage lender; and (ii) if the buyer requests, by giving written notice to Bloomkey at least 10 business days before the closing, that the Rebate be paid in cash by check, then Bloomkey will, if permitted by applicable law and the mortgage lender, Bloomkey will issue a check within 15 days after the date of closing and (ii) if under applicable law the Rebate may be paid after closing without prohibition by the mortgage lender, then the Rebate will be paid to the order of the person(s) named as the buyer(s) or borrower(s) on the HUD-1 Closing Statement or equivalent statement (including, in the case of a Section 1031 Exchange, to the order of any qualified intermediary who is named as the buyer or borrower on the closing statement, for the benefit of the Section 1031 Buyer). If paid as a closing credit, the Rebate will be paid on behalf of such person(s). As used herein, (i) “Section 1031 Exchange” means an exchange of real estate pursuant to Section 1031 of the Internal Revenue Code, as amended from time to time, and (ii) “Section 1031 Buyer” means the person conducting a Section 1031 Exchange through a qualified intermediary who will receive replacement property in such exchange. You agree that all bonuses paid by listing firm or seller to “buyer’s agent” as incentives shall be retained by Bloomkey and that these amounts, gifts, prizes or other forms of remuneration may be accepted and retained by Bloomkey in addition to the flat-fee charged by Bloomkey. The flat fee to be retained retained by Bloomkey is based upon the final property sales price as indicated on the HUD-1 or other settlement statement.
If at any time Bloomkey reasonably determines that a Commission Dispute exists or is reasonably likely to occur, then Bloomkey may delay paying the Rebate until 30 days after such Commission Dispute has been Resolved. “Commission Dispute” means any dispute or uncertainty regarding (i) whether Bloomkey is entitled to a commission from the seller(s) and/or listing broker, (ii) the amount of such commission, (iii) the manner or timing of payment of such commission, or (iv) any other term, condition or aspect of such commission. “Resolved” or “finally determined” means (i) resolved by mutual agreement, settlement or written instruction of all interested parties; or (ii) determined by any final, non-appealable judgment of a court. If Bloomkey pays any Rebate and it is later determined that Bloomkey is not entitled to all or part of the commission on which such Rebate was calculated, then the Rebate amount will be recalculated and the buyer will immediately repay to or at the order of Bloomkey the excess portion, if any, of the Rebate that Bloomkey paid.
Bloomkey has no obligation to pay the Rebate and this rebate offer is void: (i) to the extent prohibited by applicable law or the buyer’s lender(s), including at any time (including after a delay referred to in the previous paragraph) that such payment is so prohibited; or (ii) with respect to any purchase in which Bloomkey is not at all times the sole and exclusive broker representing the buyer. In the event that the amount of the commission rebate or credit due to purchaser is greater than the amount allowable under the terms of purchaser’s mortgage loan, Bloomkey will retain the balance of the commission in addition to the flat fee as additional payment for services rendered. In addition to the flat fee retained from the buyer agent commission, Bloomkey will also retain any and all agent bonuses offered by Sellers or Listing Brokers as compensation whether they be in the form of cash, merchandise, travel vouchers, gifts or any other form of remuneration. Bloomkey has no obligation to pay the Rebate unless and until (i) all of the buyers sign any agreement reasonably requested by Bloomkey confirming the Rebate, and (ii) in the case of a Section 1031 Exchange in which the qualified intermediary is listed as the buyer or borrower in the closing statement, the Section 1031 Buyer also signs such an agreement. A Rebate may have tax implications. Bloomkey recommends that buyer consult with a tax advisor regarding same. To the extent, if any, that Bloomkey determines that the filing of any tax return (including any Form 1099 or other information return) is necessary or prudent in connection with any Rebate, Bloomkey may make such filing. Bloomkey’s rebate program (and obligation to pay the Rebate) is subject to discontinuation or modification by Bloomkey at any time. This offer may not be combined with any other offer made by Bloomkey or any of its partners or affiliates.