Disclosures

Transaction Repair (Florida)

bidRAIL’s pay-at-closing transaction-repair option is currently available in Florida only. bidRAIL coordinates pre-closing repairs performed by qualified, Florida-licensed contractors selected through competitive bidding. With a signed agreement, the agreed repair cost is itemized on the transaction’s closing settlement statement and paid from closing proceeds at closing, so no out-of-pocket payment is due beforehand.

• The performing contractor retains its statutory construction-lien rights to secure payment for work performed.
• bidRAIL charges contractors to participate in the platform and earns fees on the projects it facilitates, so bidRAIL is not a disinterested party. This compensation is paid by the contractor and is not a separate charge to the buyer or seller.
• Payment at closing is contingent on the transaction closing and on lender, title, and closing-agent approval and sufficient net proceeds. If the transaction does not close, the party identified in the signed agreement remains responsible for any work already completed, and the contractor’s lien rights are preserved.
• bidRAIL does not extend credit, make loans, or provide financing, insurance, or legal, accounting, or tax advice.
• Repair pricing is set by competitive contractor bids and may change if the scope changes; estimates are not guarantees.
• Contractors are independent; bidRAIL is not the contractor of record unless expressly stated, and any warranties are provided by the contractor or manufacturer.

This page provides general information only, is not legal, financial, or tax advice, and is not an offer. The terms of any transaction-repair arrangement are governed by the applicable signed agreement.