Buyer Bidder Terms and Conditions
About these Terms and Conditions
- RightCost Pty Ltd ACN 164 279 225 owns and operates the website located at www.rightcost.com (“the Website”).
- RightCost is a registered real estate agent in Victoria.
- The Website is a platform for the Seller of property in Australia to offer the property for sale by Online Private Sale or Online Auction via the Website ("Online Sales Processes"), and for the Buyer to register their interest and make offers and/or bids to buy the property from anywhere.
- The Website will include an online residential property auction portal for Registered Users.
- RightCost services are provided to you on the Terms and Conditions set out herein together with any other Terms and Conditions, rules, guidelines and policies of RightCost, stipulated on the Website from time to time.
1.1 Only Registered Users who have agreed to these Buyer Terms and Conditions may make offers to purchase a property, access the auction room or place any bid on a property being sold at an Online Auction or negotiated through the peer-to-peer network for private sale via the Website and the Website Terms and Conditions and Registered User Terms and Conditions apply equally to your use of the Website as a Bidder or the Buyer.
1.2 RightCost may at its sole and absolute discretion approve or reject your application for registration.
- Full legal name;
- Residential address;
- Contact phone number;
- Email address;
- One of either Driver License or Passport;
If you are not successful in EQUIFAX ID check, we will verify your ID manually and, in addition to above, you will also need to provide 100-point ID check requirements, which is at least one of:
f. Medicare card;
g. Bank card;
h. Utility bill with your full name and address;
i. Council rates notice;
1.4 If you are unable or unwilling to provide the identifying documents referred to in clause 1.2 online, you also have the option to:
(a) bring in to RightCost local office for sighting; or
(b) post the required certified copies of original documents to RightCost Pty Ltd at:
P.O. Box 250, Kew, Victoria, 3101, Australia
1.5 You must not transfer your Registered User rights after successful registration. You hereby acknowledge and warrant that only you will access and use your Registered User rights, and you will take all reasonable steps to keep secure your account access details.
1.6 The effective date of your acceptance of these Terms as part of your registration on the Website, is from the date you click on the "I Accept" button.
2. RightCost and you
2.1 Nothing under these Terms, whether expressed or implied, shall be read or construed so as to operate to place the parties in the relationship of a partnership, agency, employer/employee or joint venture between RightCost and you.
2.2 You may register your interest and buy any property advertised on RightCost, in the Classifieds, or listed for sale via the online sales processes. In all cases, you must follow the rules and regulations that is applicable to each.
2.2 In the sale of any property on the Website online sales processes, whether by private sale or by Online Auction, you acknowledge and agree that RightCost acts as the Seller's duly appointed Real Estate Agent.
3. Advertising Only
3.1 You may contact the Seller for an advertised property that is listed to sell directly by the Seller as per the Seller’s instructions on the property details’ page.
3.2 RightCost portal only provides a portal for property classifieds and is not involved in the sale of the property, other than facilitating marketing and advertising for the Seller, and does not take any fees or commission for providing this service.
4. Private Sale
3.1 You may make an offer to purchase a property listed for Online Private Sale process on the Website at any time.
3.2 Any offer you make remains open for acceptance by the Seller until such time as you withdraw your offer. You cannot withdraw your offer once it has been accepted by the Seller.
3.3 A Seller may accept any offer made for the purchase of the property at any time unless the offer is withdrawn prior to acceptance. Upon acceptance of an offer made by the Seller, the property will be deemed to have been sold via Online Private Sale.
3.4 Upon acceptance of your offer by the Seller, both parties must digitally sign an electronic copy of the contract of sale and download and sign a copy for their own records. They must also provide a signed copy of the contract of sale to RightCost and their conveyancers within three (3) days from the date of acceptance of the offer.
3.5 Upon receipt of the digitally signed Contract of Sale, RightCost will forward a copy to each party and their conveyancers.
3.6 The Buyer must make payment for the deposit of the property at the time of digitally signing the contract of sale for the transaction to be legally binding. This deposit is between $1000 to up to 10% of the sale price. This payment is made on the Website to RightCost Trust Account. The remaining balance up to 10% must be paid to RightCost Trust Account within 24 hours of acceptance of the sale.
Details of RightCost Trust Account:
ANZ Banking Group Ltd
RightCost Pty Ltd
Estate Agent Business Statutory Trust Account
BSB: 013030 ACC:406325542
4. Sale by Auction
4.1 The Online Auction will be conducted via the Website in accordance with the Auction Rules. Registered Users acknowledge and agree that they are bound by the Auction Rules and that the Auction Rules form a part of these Terms.
4.2 RightCost will use its reasonable endeavours to ensure that only registered Registered Users of the Website can make bids at any Online Auction.
4.3 The sale of the property may be subject to a reserve price determined by the Seller. RightCost will not disclose the existence or the amount of the Seller's reserve price at any time prior to or during the conduct of the Online Auction.
4.4 All bids made during the conduct of the Online Auction are made subject to acceptance at the Seller’s sole and absolute discretion.
4.5 You hereby acknowledge and agree that RightCost makes no warranties or representations that the Seller will be bound to accept the bid of the highest Bidder at an Online Auction.
4.6 RightCost may end an Online Auction at any time at its sole and absolute discretion.
5.1 Bids will be ranked in the following order:
- by amount of the bid;
- by the time of the bid.
5.2 Bids at an Online Auction cannot be retracted by you prior to the completion of the Online Auction and remain open for acceptance by the Seller until completion of the Online Auction.
5.3 RightCost reserves its right to cancel any bid made by any Registered User at its sole and absolute discretion.
5.4 In case of passed in, the last highest Bidder has the right to enter private online negotiations with the Seller to come to agreement on a sale price. This online negotiation terminates at the one-hour mark. If agreement has not been reached by the end of the hour, the property will be automatically listed for Online Private Sale on the Website.
6. Bidder's Responsibility
6.1 You are solely responsible for your use of the Website and the Services from your Registered User account including but not limited to:
- all bids made by you;
- any bid made from your Registered User account;
- any communications you may have with RightCost and/or any other Registered User of the Website, including but not limited to any Seller and/or any Bidder or Buyer:
- being the successful Bidder and progressing with your purchase of the property to completion, including but not limited to:
(i) entering into a Contract of Sale with the Seller;
(ii) paying the agreed amount for the Deposit Monies of the purchase;
(iii) paying the balance of the Sale Price,
e. Compliance with the Auction Rules.
6.2 You acknowledge and agree that by making an offer to purchase a property or bidding at an Online Auction you are making an offer to enter into a legally binding Contract of Sale with the Seller and such offer may be accepted and relied upon by the Seller and RightCost.
6.3 The successful Bidder must make payment for the deposit of the property at the time of digitally signing the contract of sale for the transaction to be legally binding. This deposit is between $1000 to up to 10% of the sale price. This payment is made on the Website to RightCost Trust Account. The remaining balance up to 10% must be paid to RightCost Trust Account within 24 hours of acceptance of the sale.
Details of RightCost Trust Account:
ANZ Banking Group Ltd
RightCost Pty Ltd
Estate Agent Business Statutory Trust Account
BSB: 013030 ACC:406325542
7. Fees and Commissions
7.1 RightCost may at your request provide or arrange via service providers the following services to you in relation to the property and you agree to pay RightCost for the agreed or quoted cost of any of the following services where provided or arrange:
- property valuation;
- property report; and
- any other Services offered by RightCost from time to time,
(Additional Services) but RightCost at all times remains the agent of the Seller.
7.2 Service Fees will become payable if Additional Services are requested by you and provided or arranged by RightCost.
7.3 The Service Fees are subject to change. RightCost reserves its right to amend the Service Fees payable from time to time, which shall be effective from the date of the change first notified on the Website.
7.4 You must notify RightCost within 7 days of any dispute you may have regarding any invoice or account for Service Fees or Third Party Agent's Commission payable. Regardless of any dispute, any undisputed invoices or accounts must be paid from the funds held by your solicitor on their release. You must not set off, suspend or withhold payment for these amounts.
7.5 We will refund to you fees we have charged for goods or services requested and paid for by you where:
- the goods and/or services you have requested have not been provided by us to you within the Response Times; or
- by virtue of a failure of computer networks or of RightCost suppliers, the goods and/or services have not been provided with outside the Response Times in a reasonable time; or
- where ordered by a court of competent jurisdiction to do so.
Your right to a refund should be read in conjunction with the right of indemnity listed below.
8. Deposit Monies
8.1 If your offer or bid has been accepted by the Seller, you must pay the deposit monies in accordance with Clauses 3.6 and 6.3 above and the Contract of Sale to be held by RightCost in its trust account within three (3) business days from the date that your offer or bid has been accepted by the Seller.
RightCost will deduct the commission for the sale and transfer the outstanding balance to the Seller’s conveyancer’s Trust Account.
9. Bidder's Warranties and Limitation of Liability
9.1 You warrant that you:
- are over 18 years of age;
- have provided RightCost with your true and accurate personal details;
- will not provide any false, misleading or deceptive information to RightCost;
- are fully able to participate in the purchase of a property, including but not limited to having the ability to:
(i) pay the Deposit Monies;
(ii) validly enter into a Contract of Sale with a Seller; and
(iii) complete the purchase of the property;
e. will not interfere or obstruct RightCost in its operation of Online Auction or any other Service it offers to its Registered Users, nor obstruct any other Registered User's use and enjoyment of the Website.
f. will not post any material which contains viruses or other computer codes, files or programs which are designed to limit or destroy the functionality of any of RightCost's computer software or hardware;
9.2 To the maximum extent permitted by law, RightCost provides the Website and its Services to you without any warranty or conditions whether express or implied including but not limited to the following:
- ownership of property on sale on the Website;
- ability of the Seller to complete the sale of the property;
- accuracy or truth of any information provided and/or representation made by a Seller; and
- any content or material provided by RightCost, or any information provided and/or representation made by a Seller is up to date.
9.3 RightCost does not guarantee continuous or uninterrupted access to its Services or the Website.
9.4 The website has been developed with the latest security standards and technologies available, however, RightCost does not guarantee 100% non-stop secure access due to unknown circumstances and as inflicted by malicious intent.
10. Release and Indemnity
10.1 You release, discharge, indemnify and forever hold RightCost and all of its officeholders, employees, agents, representatives or contractors harmless from all claims, suits, causes of action, demands, proceedings, liabilities, losses, damages, costs or expenses directly or indirectly incurred or suffered by you in relation to:
- any failure of RightCost to comply with these Terms caused or contributed by your wilful or negligent act or omission or any fact, matter or circumstance that is beyond RightCost's reasonable control such as due to force majeure; and
- any breach by any Registered User or other third party of these Terms.
10.2 You hereby indemnify, and shall keep indemnified, RightCost and all of its officeholders, employees, agents, representatives or contractors, from and against all claims, suits, causes of action, demands, proceedings, liabilities, losses, damages directly or indirectly, costs or expenses directly or indirectly suffered or incurred by RightCost arising out of your acts or omissions or breach of these Terms by you, including but not limited any breach of the warranties contained in clause 9.1.
11.1 RightCost may place advertisements from third parties on the Website alongside any listing or advertisement of property (Third Party Advertisement).
11.2 You acknowledge that RightCost takes no responsibility for the content and effect of any Third Party Advertisement.
11.3 The placement of Third Party Advertisement does not form any endorsement, opinion or recommendation by RightCost on or for the advertiser's product/s or service/so
12.1 Without prejudice to any accrued rights or entitlements it may have, RightCost may terminate these Terms and your registration and immediately cease providing any or all of its Services to you at any time without notice.
13.1 Any waiver of any of RightCost's rights under these Terms or under the law shall only be effective if communicated in writing.
13.2 Any waiver properly exercised by RightCost on any occasion does not mean that the same right will be waived on any other occasion.
15. Intellectual Property
15.1 Any content and/or material on the Website is owned or licensed by RightCost.
15.2 You provide RightCost with an irrevocable, non-exclusive, global and royalty-free license to use, produce, re-produce or publish any content and/or material, including but not limited to any text, pictures or other that you provide to RightCost to sell or market your Property.
15.3 Unless we provide you with our prior written consent, you must not:
(h) publish; or
(i) create derivative content/material, any pre-existing content and/or material on the Website other than for the purposes of, and subject to the provisions of the Copyright Act 1968 (Cth).
15.4 Unless RightCost provides you with its prior written consent, you must not use any intellectual property associated with RightCost. If you use any intellectual property associated with RightCost, you must strictly adhere to the terms of such consent.
15.5 Without limiting clause 15.3, you must not use any RightCost intellectual property associated with, or owned by RightCost for any of the following purposes:
- as part of your own trademark/s;
- to diminish RightCost's trade mark or its rights associated with the trade mark;
- in connection with any services, products or other that are not associated with the online auction of property;
- in a manner that may be misleading and/or deceptive; and
- to detract or belittle RightCost.
16.1 If any provision of these Terms do not comply with any law, then the term must be read down so as to give it as much effect as possible. If it is not possible to give the provision any effect at all, then it must be treated as severable from the rest of these Terms.
17. Goods and Services Tax
17.1 RightCost warrants that it is registered for GST.
17.2 Unless specified to the contrary, all prices are exclusive of Goods and Services Tax (GST) on the Services provided by RightCost to the extent that they are taxable supplies within the meaning of the A New Tax System (Goods and Services Tax Act) 1999 (Cth).
17.3 If RightCost makes a supply under, or in connection with the Services in respect of which GST is payable, you must pay to RightCost, an additional amount for the GST.
18. Governing Law and Jurisdiction
18.1 These Terms are governed by the laws of Victoria. The parties agree to submit to the non-exclusive jurisdiction of the courts of that state.
19. Entire Agreement
20. Dictionary and Interpretation
In these Terms and Conditions:
Agent means any of RightCost's officeholders, employees, agents, representatives or contractors who will act on behalf of a Seller at any Online Auction or private sale on the Website.
Auctioneer means a person who is nominated by RightCost to conduct the Online Auction of a property via the Website.
Auction Rules means the rules for the conduct of the Online Auction as displayed on the Website and notified to Registered Users prior to the commencement of any Online Auction.
Bidder means a registered user of the Website who has applied for and been approved by RightCost as a user allowed to place bids at an Online Auction conducted by an Auctioneer.
Contract of Sale means the contract for sale in respect of a property.
Deposit Monies means the deposit paid by the Purchaser in accordance with the Contract of Sale, being a sum which is equivalent to 10% of the Sale Price.
Force majeure means an event or circumstance which is beyond the control and without the fault or negligence of the party affected and which by the exercise of reasonable diligence the party affected was unable to prevent provided that event or circumstance is limited to the following:
- riot, war, invasion, act of foreign enemies, hostilities (whether war be declared or not), acts of terrorism, civil war, rebellion, revolution, insurrection of military or usurped power, requisition or compulsory acquisition by any governmental or competent authority
- ionising radiation or contamination, radio activity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel, radioactive toxic explosive or other hazardous properties of any explosive assembly or nuclear component
- pressure waves caused by aircraft or other aerial devices traveling at sonic or supersonic speeds
- earthquakes, flood, fire or other physical natural disaster, but excluding weather conditions regardless of severity
- strikes at national level or industrial disputes at a national level, or strike or industrial disputes by labour not employed by the affected party, its subcontractors or its suppliers and which affect an essential portion of the works but excluding any industrial dispute which is specific to the performance of the works or these Terms.
GST means GST within the meaning of the A New Tax System (Goods and Services Tax) Act 1999 (Cth) as amended.
Property means the real property in Victoria which the Seller has listed to be sold by RightCost via the Website in accordance with RightCost's Terms and Conditions.
Purchaser means the Registered User whose offer to purchase the property is accepted or the successful Bidder at the Online Auction that enters into a Contract of Sale with the Seller to purchase the property.
Real Estate Agent means an estate agent licenced under the relevant State or Territory laws and regulations.
Registered User means any person who has agreed to the Registered User Terms and Conditions;
Response Times means:
- in the case of search services, those periods specified by the search providers;
- in the case of advertising services, a period of twenty-one days following placement of a written order for that particular service;
- in the case of listing services, a period of no more than seven days following the provision by you of all of Your Information necessary for the listing of the property;
- in the case of Sale Services, a failure or breach of the terms set out in the Sale Authority;
- in the case of Auction Services, a failure or breach of the terms set out in the Sale Authority or the Auction Rules;
RightCost means RightCost Pty Ltd ACN 164 279 225, its successors and permitted assigneess;
Sale Price means the sale price for the property under the Contract of Sale
Services means the any or all of the features, functions and facilities offered by RightCost on the Website or otherwise.
Service Fees means the fees charged by RightCost for the Additional Services from time to time as notified to you or published on the Website.
Seller means the registered proprietor/s of the property who is/are, or will be entitled to become the registered proprietor of the property.
Website means the website located at www.rightcost.com
In these Terms, unless the context requires otherwise:
- words importing the singular include the plural and vice versa;
- a word importing a gender includes the other gender and the neuter gender;
- a reference to a person includes an individual, a partnership, a body corporate, a joint venture, an association (whether incorporated or not), a government and a government authority or agency;
- a reference to a party or a person includes the party's or the person's executors, legal personal representatives, successors, transferees and assigns;
- an agreement, representation or warranty in favour of two or more persons is for the benefit of them jointly and severally;
- an agreement, representation or warranty on the part of two or more persons binds them jointly and severally;
- a reference to legislation includes any statutory modification or replacement and any subordinate or delegated legislation issued under such legislation;
- if the day on which anything is to be done is not a Business Day it shall be done on the next Business Day;
- no provision shall be construed adversely against a party on the basis that these Terms or that provision was prepared by, for or on behalf of that party; and
- a reference to "$" or dollars means Australian dollars and a reference to payment means payment in Australian dollars.
Last updated 23 December 2017.