PropHunt AI Terms and Conditions

THIS IS AN ELECTRONIC DOCUMENT IN TERMS OF THE INFORMATION TECHNOLOGY ACT, 2000 AND RULES MADE THEREUNDER AND THE AMENDED PROVISIONS PERTAINING TO ELECTRONIC DOCUMENTS / RECORDS IN VARIOUS STATUTES AS AMENDED BY THE INFORMATION TECHNOLOGY ACT, 2000.

THESE MASTER TERMS AND CONDITIONS (“MASTER TERMS”) CONSTITUTE A LEGALLY BINDING DOCUMENT BETWEEN THE BUYER, THE SELLER, THE AGENT, THE SERVICE PROVIDER AND REALTIMATE. THESE MASTER TERMS WILL BE EFFECTIVE IMMEDIATELY UPON ACCEPTANCE OF THE SAME BY THE RELEVANT PERSON AND WILL GOVERN THE RELATIONSHIP BETWEEN REALTIMATE, THE BUYER, THE SELLER, THE AGENT, AND/OR THE SERVICE PROVIDER IN TERMS OF THE VARIOUS STEPS AND TRANSACTIONS INVOLVED IN PURCHASE OF THE PROPERTY, INCLUDING WITHOUT LIMITATION TO, WITH RESPECT TO: (I) BACKGROUND VERIFICATION / AUTHENTICATION OF THE BUYER AND THE SELLER, (II) ONBOARDING OF THE AGENT(S) OF THE BUYER / THE SELLER, (III) OFFER BY THE BUYER TO PURCHASE THE PROPERTY, (IV) COUNTER-OFFER (IF ANY) OF THE SELLER TO THE BUYER, (V) FINALIZATION OF THE PURCHASE CONSIDERATION (DEFINED HEREINAFTER) AND THE COMMISSION (DEFINED HEREINAFTER) PAYABLE TO THE AGENT(S), (VI) FINALIZATION OF THE VARIOUS TERMS AND CONTINGENCIES UPON WHICH THE PURCHASE OF THE PROPERTY IS DEPENDENT (SUCH AS SUCCESSFUL COMPLETION OF TITLE SEARCH / DUE DILIGENCE), AND (VII) TIMELINES WITH RESPECT TO COMPLETION OF THE TRANSACTIONS. IF ANY PROVISION OF THESE MASTER TERMS CONFLICT WITH ANY TRANSACTION DOCUMENT / ELECTRONIC RECORD, THE TERMS AND CONDITIONS OF THESE MASTER TERMS SHALL PREVAIL, (1) UNLESS SPECIFIED OTHERWISE IN SUCH OTHER AGREEMENT / DOCUMENT; OR (2) UNTIL FURTHER CHANGES / MODIFICATIONS ARE NOTIFIED BY REALTIMATE.

For the purpose of these Master Terms, wherever the context so requires “You” or “User” shall mean any legal person who has agreed to use the services of the Company / the Platform by registering on the Platform as a Buyer / Seller using the computer systems and has agreed to these Master Terms by signifying Acceptance. Buyer, Seller, Agent, and Service Providers shall be individually referred to as a “User” and collectively referred to as the “Users” and, wherever required, severally as Buyer, Seller, Agent and Service Providers. The term “Company”, “Realtimate”, “We”, “Us”, “Our” shall mean Realtimate Labs Private Limited.

The Company and the Users shall be individually referred to as a “Party” collectively referred to as the “Parties”.

The User's use of the application / website located at Realtimate, owned, managed and operated by Realtimate and any and all other websites owned or operated by Realtimate, through which You have access to request an offer and/or conduct a real estate transaction, including all features, functionality, tools and content of those websites (“Platform”) and related services and tools are governed by the following terms and conditions of these Master Terms as applicable to the Platform including the applicable policies (such as the ‘Privacy Policy’ and ‘Terms and Conditions of Use of Platform’) of the Company which are incorporated herein by way of reference. By merely registering as a Buyer / Seller on the Platform, the Users shall be contracting with the Company and with each other and these Master Terms including the applicable policies constitute each of the User's binding obligations.

In these Master Terms, the following words and expressions, unless inconsistent with the context, shall bear the meanings assigned hereto:

I. Definitions

1. “Acceptance” shall mean the User's affirmative action of clicking the “Submit” button declaration provided at the end of these Master Terms, by which action the User clearly accepts the terms and conditions of these Master Terms.
2. “Agent(s)” shall mean the real estate agents / real estate brokers appointed by the Buyer, and / or the Seller.
3. “Buyer” shall mean the User who has registered on the Platform, signifying its interest to purchase the Property.
4. “Commission” shall mean the amount payable to the Agent(s) for its services as identified under the Agency Agreement.
5. “Escrow Agreement” shall mean the definitive escrow agreement to be entered into between the Buyer, the Seller and Realtimate.
6. “Privacy Policy” shall mean the privacy policy of Realtimate, as may be amended and updated from time to time and available at Privacy Policy.
7. “Property” shall mean the property owned by the Seller, details whereof were disclosed by the Seller during its registration process on the Platform and the property so selected by the Buyer during its registration process on the Platform, which is available for sale by the Seller to the Buyer / other Users on the Platform or otherwise.
8. “Purchase Consideration” shall mean the consideration payable by the Buyer to the Seller for the purchase of the Property.
9. “Realtimate Fee” shall mean the fee payable to Realtimate by the Buyer and the Seller or any other User (as the case may be) for using the Platform to carry out the proposed real estate transaction and for the service offered.
10. “Sale Deed” shall mean the definitive agreement to be entered into for conveyance of the Property.
11. “Seller” shall mean the User who has registered itself as the owner of the Property and is interested to sell the Property to the Buyer through the Platform.
12. “Service Provider(s)” shall mean and include the legal counsel, property surveyor, property inspector or any other service provider listed on the Platform for facilitating the proposed real estate transaction.
13. “Terms and Conditions of Use of Platform” shall mean the terms and conditions of use of Realtimate Platform, as may be amended from time to time.
14. “Transaction Documents” shall mean the agreements of the Platform in relation to the transactions contemplated and shall include the Agreement for Sale, Escrow Agreement, Contingency Release / Removal Letter, Contingency Extension Letter, Contingency Failure Letter, Amendment Agreement, Service Agreement, Agency Agreement, Legal Counsel Agreement, Privacy Policy, Master Terms, and such other amendments, documents, modifications and other ancillary agreements entered into between the parties pursuant to such agreements.

II. Acceptance

1. Realtimate provides its services to You subject to the conditions set out herein. Before You may use the Platform, You must read and accept all of the terms and conditions in, and linked to, these Master Terms. We strongly recommend that, as You read these Master Terms, You also access and read the linked information (such as the Privacy Policy and Terms and Conditions of Use of Platform), since it is incorporated into and hereby made part of these Master Terms. These Master Terms are effective upon Acceptance.

2. Users willing to use services of and/or undertake transactions through the Platform are advised to go through the Master Terms carefully, understand the same, and thereafter agree to be bound by the same.

3. If You are accepting or agreeing to these Master Terms on behalf of another person or on behalf of any company or other legal entity, You represent and warrant that You have the authority to act on behalf of, and bind, that person or entity to these Master Terms.

4. The Users must acknowledge at the time of their registration as a Seller / Buyer that they have read these Master Terms (including any amendments hereto). Each User must visit the registration dashboard to complete its registration and onboarding process by entering and submitting the relevant registration data sought by Realtimate on the Platform. In addition, on the registration dashboard, the User will be provided access to the Master Terms for review and acceptance. In order to be permitted for making / discussing / negotiating real estate transactions through the Platform, each Candidate must agree to the Master Terms by clicking “Submit” button / checkbox, and thereby signify its Acceptance when prompted following such User's review of these Master Terms. Acceptance of these Master Terms will be deemed acceptance of any and all amendments hereto that may be made prior to a User successfully completing its proposed transaction contemplated hereinunder and form a valid and binding contract relating to the subject matters set out herein. The role of Realtimate is limited to facilitating the onboarding of the Users, verification / authentication of their identity (including through Aadhaar KYC) and enabling them to finalise the terms of the proposed real estate transaction with ease and convenience. It is specifically understood that Realtimate is not the entity selling / purchasing the Property nor is it required to take any approvals for facilitating the proposed real estate transactions.

III. Amendment

If You do not agree to be bound by these Master Terms, You may not use the Platform for purchasing the Property. We reserve the right, at any time, at our sole discretion, to change or otherwise modify these Master Terms without prior notice, however provided that we will provide to You a prior intimation regarding such proposed amendment or modification to the Master Terms on the notice details provided by You at the time of Your registration and onboarding on the Platform. Your continued access or use of the Platform in relation to purchase of the Property signifies Your acceptance of the updated or modified Master Terms.

IV. Offer and Purchase Process

1. Eligibility and Offer to sell the Property

You (as the Seller) may not request an offer from the Buyer and You (as the Buyer) may not elect to offer:

1. if You are not able to form legally binding contracts under the provisions of the Indian Contract Act, 1872; or
2. if You are barred or prohibited from entering into contracts or conducting real estate transactions under the laws of India or other applicable jurisdiction.

You agree to provide complete, accurate and up-to-date information about Yourself and the Property (in case You are a Seller), and to update that information as necessary to ensure that it remains complete, accurate and up-to-date. Please note that Your name, address and other information that You submit when You request an offer may be used and shared with our third party service providers in accordance with our Privacy Policy.

2. Offer, Acceptance & Consideration

Once the Buyer and Seller onboarding on the Platform is complete, the Buyer may elect to make a purchase offer for the Property, conditional upon due diligence and loan contingencies. Buyer determines the Purchase Consideration he/she is willing to pay for the property. For making the offer, the Buyer shall visit a web page on the Platform designated for making the offer. Upon receipt of such offer, the Seller can review the offer terms and in case the offer terms are acceptable to the Seller, the Seller can elect to accept such offer on a web page on the Platform designated for accepting such offer. Thereafter, the Buyer and the Seller may proceed to execute the Agreement for Sale and other Transaction Documents and shall act strictly in accordance with the terms thereof.

3. Closing Costs, Taxes and Fees

The Users will be responsible to pay for any title search, title diligence, escrow fees, Commission to their respective Agents, fee to the Service Provider(s) and Realtimate Fee and any other additional closing costs, in a manner as prescribed in these Master Terms and the Transaction Documents. Other such closing costs include (but are not limited to) stamp duty, registration fees, TDS (tax deduction at source) withholdings, attorney fees, and/or property taxes due through the closing date.

V. Representations and Warranties

By registering on the Platform, each User represents and warrants that:

1. the User has all rights to register on the Platform, list its Property for sale (in case of the Seller) and execute and perform all the agreements / legal documents described herein and by doing so, the User is not violating or infringing upon the rights (including the intellectual property rights) of any other person and / or any applicable laws;
2. the User is complying with all the regulatory requirements in regard to the services / products they are offering via this Platform;
3. all the details on the Platform, shared by the User, are current, up-to-date and accurate, including the location, property specifications, etc.;
4. all the personal details on the Platform, shared by the User, are as per identification proof such as Aadhaar, permanent account number, driving license or passport identification proof; and
5. by onboarding / registering on the Platform, the User is granting all such rights to Realtimate to authorise Realtimate to use and/or share their data / information in accordance with the Privacy Policy.

VI. Undertakings of the Users

1. Each User hereby irrevocably undertakes and confirms that it understands that:

1. Realtimate merely provides a Platform for efficient and ease of real estate transactions and it does not hold any responsibility to undertake any verification whatsoever of the Property or of the User(s) or Service Provider(s);
2. Save as otherwise provided, Realtimate shall have no liability or responsibility for any approvals, consents, permissions or the like of any regulatory authority or third party for the transactions contemplated under the Transaction Documents;
3. The User will not hold Realtimate liable or accountable for any issues relating to title defect / third party claims in respect of the Sale Property or the transaction undertaken on the Platform;
4. Realtimate shall have no responsibility or liability for any action, omission, non-performance or breach of any contract entered into between User(s) and Service Provider(s);
5. The User will not violate any privacy policies or security policies of the Platform being used by the User and it will, at all times, comply with all the terms of the Master Terms and other definitive documents executed between the parties.

2. Each User hereby undertakes and confirms that each one of them irrevocably authorize Realtimate to undertake all actions, deeds and/or things as specified under the Transaction Documents.

VII. Miscellaneous

1. Indemnification by the User

The User agrees to indemnify, defend and hold harmless the Company and its respective Affiliates, officers, directors, managers, and employees (collectively, the “Indemnified Parties”), for any and all direct or indirect losses, liabilities, claims (including third party claims), taxes, stamp duty, deposits, demands, judgments, fines, suits, actions, costs, penalties and expenses (including reasonable attorneys' fees) (collectively, “Losses”) suffered, incurred or paid, directly or indirectly, by the Indemnified Parties arising out of, or relating to:

1. any matter, dispute or event arising out of or relating to any of the Transaction Documents;
2. any inaccuracy, misrepresentation or breach of the representations and warranties by the User;
3. any failure to perform, non-fulfilment, breach or violation by the User of any of its covenants, obligations, undertakings and/or agreements contained in any of the Transaction Documents.

2. Limitation of Liability

Notwithstanding anything contained under the Transaction Documents, in no event will Realtimate be liable to the User:

1. for any indirect, special, incidental, punitive or consequential damages, whatsoever, including, without limitation, lost profits, loss of revenue, loss of use;
2. for any amount higher than the Realtimate Fee.

3. Notices

Any notice or other communication to Realtimate shall be provided in writing at the address mentioned on the Platform. Any notice and communication to the Users shall be made on the email address provided by the Users at the time of registration on the Platform.

4. Severability

If any provision of the Master Terms is deemed invalid, void, or for any reason unenforceable, that provision will be deemed severable and will not affect the validity and enforceability of any remaining provisions of the Master Terms.

5. Governing Law, Jurisdiction and Dispute Resolution

(i) Governing Law & Jurisdiction — These Master Terms shall be governed and interpreted by and construed in accordance with the laws of the Republic of India and subject to the arbitration clause below, the courts at Bengaluru shall have sole and exclusive jurisdiction over all matters arising out of or relating to the Master Terms.

(ii) Mediation — If any dispute arises in connection with the Master Terms, the Parties agree to enter into mediation in good faith to settle such a dispute and will do so through a mediator appointed from amongst the panel of mediators maintained by Realtimate. To initiate the mediation, a Party must give notice in writing to the other Party to the dispute, referring the dispute to mediation for resolution within a period of 7 days. No Party shall commence any court proceedings or arbitration in relation to any dispute arising out of this Agreement until it has attempted to settle the dispute by mediation. Mediation fees, if any, shall be divided equally among the Parties.

(iii) Arbitration — Any and all disputes arising out of or in connection with this Agreement, which are not resolved by mediation, shall be exclusively submitted to arbitration under the Arbitration and Conciliation Act, 1996, as applicable, and shall be adjudicated by an arbitral tribunal comprising a sole arbitrator to be appointed by mutual consent of the Parties. All proceedings of the arbitration shall be conducted in English language. The venue and seat of arbitration shall be Bengaluru. The arbitration award rendered by the sole arbitrator shall be final and binding.

6. Assignment

Neither User shall assign these Master Terms to any third party. Realtimate shall have the right to assign these Master Terms to any of its affiliates or to any third party without prior consent of any person.

7. Waivers

Failure by any Party to enforce any provision of these Master Terms shall not constitute a waiver of any other provision hereof or of the rights of such Party hereunder.

8. Survival

Notwithstanding any other provisions of these Master Terms, or any general legal principles to the contrary, any provision of these Master Terms that imposes or contemplates continuing obligations on a Party will survive the expiration or termination of these terms.

Refund and Cancellations Policy

1. Cancellation Policy

1. If a client wishes to cancel their transaction with the company, they must submit a cancellation request in writing.
2. The cancellation request should include the client's name, contact information, transaction details, and reasons for cancellation.
3. The company will review the cancellation request and determine if it meets the criteria for cancellation.
4. Any information provided by you towards complying with know your customer norms, either as part of our internal policies and as may be required under applicable law.
5. If the cancellation is approved, the company may charge a cancellation fee or deduct certain expenses incurred during the transaction process.
6. The client will be notified of the cancellation approval and any applicable fees or deductions.

2. Refund Policy

1. Refunds may be applicable if the client is eligible for a cancellation as per the company's cancellation policy.
2. The company will assess the circumstances of the cancellation and determine the refund amount, if any.
3. The refund amount may be subject to deductions for cancellation fees, administrative costs, or any other applicable charges outlined in the company's refund policy.
4. Refunds will be issued using the same payment method used for the original transaction, unless otherwise specified by the client.
5. The timeframe for processing refunds may vary, and it will be communicated to the client by the company.
6. The company reserves the right to withhold or deny refunds in cases of non-compliance with the cancellation policy or breach of contract by the client.

3. Exceptions and Special Circumstances

1. The company's policy may outline specific situations where cancellations and refunds are exempt or subject to different conditions.
2. For example, if the cancellation occurs after a certain stage in the transaction process or if there are contractual obligations that prevent cancellation without penalties.
3. The policy may also address scenarios where the company experiences unforeseen circumstances or events beyond their control that may impact the transaction process, such as natural disasters or legal restrictions.

If you have any queries, please reach out to us at service@realtimate.in.