Sundae Customer Terms and Conditions

While Sundae makes every effort to vet the investment opportunities we display on our website, we can’t guarantee the condition of the property, the truth or accuracy of any third-party valuations, reports, or statements, or that any particular property represents a sound or advisable investment opportunity. All real estate investments are susceptible to substantial risks, including local, state, and national market conditions, environmental hazards and disasters, undisclosed or unknown property conditions, zoning or land use changes, the availability of credit, and other risks of loss. Real estate investors who purchase the right to acquire real property from Sundae assume the entire risk of their investment, and are advised to independently investigate and verify the truth, completeness, and accuracy of all information regarding the property. For more information, please see Sundae’s Customer Terms & Conditions.

These Terms and Conditions (these “Terms”) apply to all Sundae customers.

If you are requesting access to information about Sundae's properties (including our mailing and other distribution lists) on behalf of yourself only, this agreement is between Sundae and you, personally. If you are requesting access on behalf of your employer, as an independent contractor on behalf of your contracting principal, or as an agent for any entity, this agreement is between Sundae, you personally, and your company. In that case, “you” means you and your company, unless context requires otherwise. By requesting access as contemplated herein, you represent and warrant that you are duly authorized to represent your company and execute this Agreement on its behalf.

1. Non-Circumvention.

Sundae provides customers with the opportunity to purchase distressed real property assets on its web platform and through its network (the “Assets”), which Assets Sundae has spent considerable resources to locate and make available for purchase. Therefore, Customer agrees not to contact, directly or indirectly, the owner of any Asset (or any agent or representative thereof) for a period of one year following the date when (i) the asset is listed for sale on Sundae’s website; or (ii) Sundae otherwise informs the Customer of the Asset’s availability for purchase, whichever is later.

2. Confidentiality.

2.1. Customer understands that Sundae has disclosed or may disclose non-public information about the Assets to its customers, which information is, or could reasonably be inferred to be, confidential or proprietary in nature (the “Proprietary Information”).

2.2. Customer agrees: (i) not to divulge any such Proprietary Information to any third person, (ii) to disclose the Proprietary Information only to those agents or employees who need access to the Proprietary Information to act on Customer’s behalf in transacting with Sundae, and (iii) to take the same security precautions to protect against disclosure or unauthorized use of such Proprietary Information that Customer takes with its own proprietary information, but no less than reasonable precautions. Sundae agrees that the foregoing will not apply with respect to any information that the Customer can document (a) is or becomes generally available to the public without any action by, or involvement of, the Customer, or (b) was in the possession of or known by Customer prior to receipt from Sundae, or (c) was independently developed without use of any Proprietary Information. Nothing in this Agreement will prevent the Customer from disclosing the Proprietary Information pursuant to any judicial or governmental order, provided that Customer gives Sundae reasonable prior notice to contest any such order.

3. Use of Certain Service Providers.

To ensure a timely and efficient closing, Sundae uses certain preferred settlement service providers. In the event that Customer obtains the right to purchase an Asset in the Sundae network, the Asset’s purchase and sale agreement (“PSA”) and Sundae’s assignment of that agreement will identify these service providers and require that Customer use them to facilitate the close of escrow. These service providers may include, but are not limited to, escrow, title, property insurance, bridge or rental mortgage loan and resale brokerage. The fees charged by these service providers will be disclosed on or before the close of escrow. Customer hereby assumes the obligation to investigate the fees charged by any service provider identified in the PSA or assignment agreement before agreeing to assume Sundae’s obligations under the PSA.

4. No Agency.

Customer agrees and acknowledges that Sundae is acting on its own behalf, and is not acting as Customer’s agent or broker in connection with the sale of an Asset, the assignment of a PSA from Sundae to Customer, or in the brokering or arranging of any mortgage loan to Customer to facilitate the acquisition of an Asset. Sundae does not have and will not be deemed to have any fiduciary relationship with or fiduciary obligations to Customer as a result of the transactions described herein. Customer agrees and acknowledges Customer has not relied on any advice from Sundae (whether legal or professional) and has sought Customer’s own legal and professional advice before agreeing to these Terms.

5. Business Purpose Representation.

Customer represents and warrants that it is in the business of investing in residential real estate, and that Customer has no intention to, nor will it ever, occupy any Asset acquired through Sundae’s network. Neither Customer, nor any member, officer, director, employee, agent, or any family member of the foregoing, will occupy the Asset or acquire the Asset for personal, family, or household use.