Terms and Conditions for Last Bid Realty Inc.
Last updated: November 05, 2026
Please read these terms and conditions carefully before using Our Service.
The words whose initial letters are capitalized have meanings defined under the following conditions. The following definitions shall have the same meaning regardless of whether they appear in singular or in plural.
For the purposes of these Terms and Conditions:
Account means a unique account created for You to access the Service, register for auctions, participate as a bidder, manage Your information, or access other functionality made available through the Website.
Auction means an online real estate auction conducted, hosted, facilitated, advertised or otherwise made available through the Service.
Auction Terms means the terms, conditions, procedures, disclosures, requirements, and other information applicable to a particular Auction, including any amendments or updates made prior to or during the Auction.
Bid means an offer submitted by a registered and approved Bidder through the Service to purchase a Property at a specified price, subject to these Terms, the applicable Auction Terms, and any applicable Purchase Contract.
Bidder means an individual or legal entity that registers to participate in an Auction. Where these Terms require approval or qualification before bidding, "Bidder" includes only those persons who have satisfied such requirements.
Buyer or Successful Bidder means the Bidder whose Bid is determined to be the successful Bid at the conclusion of an Auction, subject to the Auction Terms and applicable Purchase Contract.
Buyer's Premium means any amount, calculated as a percentage of the Successful Bid or otherwise as specified in the applicable Auction Terms, payable in connection with the purchase of a Property.
Bid means an offer submitted by a registered and approved Bidder through the Service to purchase a Property at a specified price, subject to these Terms, the applicable Auction Terms, and any applicable Purchase Contract.
Company (referred to as either "the Company", "We", "Us" or "Our") means Last Bid Realty Inc., #203 2140 39th Ave NE, Calgary, Alberta, T2E 6P7.
Deposit means any deposit required from a Successful Bidder in connection with the purchase of a Property, as specified in the applicable Auction Terms or Purchase Contract.
Property means real property advertised, marketed, listed, or offered for sale through the Service, together with such improvements, fixtures, interests, or rights as may be included in the applicable Property listing and Purchase Contract.
Property Information means photographs, descriptions, measurements, documents, reports, disclosures, representations, marketing materials, and other information made available through the Service in connection with a Property.
Purchase Contract means the applicable written agreement for the purchase and sale of a Property entered into or required to be entered into by the Seller and Successful Bidder.
Seller means the owner of a Property, or a person or entity legally authorized to act on behalf of the owner, who has authorized the Property to be offered for sale through an Auction.
Service means the Website and the online real estate auction, property marketing, bidder registration and related services made available by the Company.
Terms and Conditions means these Terms and Conditions, including any documents expressly incorporated by reference, governing Your access to and use of the Service.
Website means, collectively, the Last Bid Realty website accessible at https://www.lastbidrealty.ca/ and its online real estate auction platform accessible at https://auctions.lastbidrealty.ca/.
You or Your means the individual accessing or using the Service or, where applicable, the corporation, partnership or other legal entity on whose behalf that individual accesses or uses the Service.
These Terms govern Your access to and use of the Service and constitute an agreement between You and the Company.
Your access to and use of the Service is conditional upon Your acceptance of and compliance with these Terms. These Terms apply to visitors, registered users, Bidders, Buyers, Sellers, and other persons who access or use the Service.
By accessing or using the Service, You agree to be bound by these Terms. If You do not agree with any part of these Terms, You must not access or use the Service.
You represent and warrant that You have reached the age of majority in Your jurisdiction and have the legal capacity to enter into binding agreements.
Your access to and use of the Service is also subject to Our Privacy Policy, which describes how We collect, use, and disclose personal information.
The Service provides an online platform through which Properties may be advertised and offered for sale by Auction.
Each Auction may be subject to separate Auction Terms. You are responsible for reviewing and understanding the Auction Terms applicable to a Property before registering for or participating in an Auction.
If there is any inconsistency between these Terms and the Auction Terms applicable to a particular Property, the Auction Terms shall govern with respect to that Auction to the extent of the inconsistency.
Participation in an Auction does not guarantee that You will acquire the Property.
You will be required to register and receive approval before participating in an Auction.
As part of the registration and qualification process, You will be required to provide information including Your legal name, address, telephone number, email address, identification, payment information, proof of funds, financing information, or other information reasonably required by the Company.
You represent and warrant that all information supplied by You is true, accurate, current, and complete.
The Company may use third-party service providers to verify identity, process payment card authorizations, conduct compliance screening, verify information, or otherwise facilitate bidder registration and participation.
Registration does not automatically entitle You to participate in an Auction. The Company reserves the right, subject to applicable law, the Company's policies and procedures, and the Auction Terms, to approve, reject, suspend, or revoke a Bidder's registration or bidding privileges.
As a condition of registration and participation in an Auction, the Company requires a $5,000 CAD credit card pre-authorization. The pre-authorization hold will be placed on your registered credit card up to 24 hours before the Auction begins.
If You are the successful bidder, your credit card will be charged $5,000 CAD, which will be applied toward the required Deposit under the applicable Auction Terms and Purchase Contract. The remaining Deposit balance must be paid within 24 hours of the Auction closing through a secure Payload payment link provided by the Company.
Upon becoming the successful bidder, the Deposit is non-refundable. If the transaction does not close due to the successful bidder's failure to fulfill their obligations under the applicable Auction Terms and/or Purchase Contract, the Deposit will be forfeited. The Company and/or the Seller reserve the right to pursue any additional legal remedies available to them, including recovery of further damages, where applicable. If You are not the successful bidder, the $5,000 CAD pre-authorization hold will be released following the close of the Auction, and your credit card will not be charged.
You represent and warrant that You are legally authorized to use any payment method provided by You.
The Company does not store full credit card numbers, security codes, or other sensitive credit card information on its Website. Payment processing is handled securely by the applicable third-party payment provider. The Company's internal record-keeping system may display or retain limited payment information, such as the cardholder's name, card brand, and last four digits of the card number, for identification, and administrative purposes.
By submitting a Bid, You represent and warrant that:
You have the legal capacity and authority to submit the Bid;
You have reviewed and accepted these Terms and the applicable Auction Terms;
You have completed any investigation, inspection, review, and due diligence You consider necessary before bidding;
You understand the nature and effect of submitting a Bid;
The Bid is submitted intentionally and not as the result of an error or unauthorized use of Your Account; and
You have the financial ability to complete the transaction if You become the Successful Bidder.
You are solely responsible for all Bids submitted through Your Account.
Bids may not be withdrawn, revoked, or cancelled.
The Company establishes the starting bid for each Auction and sets a minimum bid increment of $2,500 CAD, unless otherwise specified in the applicable Auction Terms. The Service may offer automatic bidding and maximum bidding functionality, which You may choose to use at Your discretion.
Each Auction will have a scheduled closing time.
Each Auction utilizes an extended bidding or "soft close" process. If a Bid is received within the final two (2) minutes before the scheduled closing time, the Auction closing time will automatically be extended by an additional two (2) minutes. This process will repeat for each subsequent Bid received within the final two (2) minutes of an extended closing period.
The Auction shall continue until no further Bids are received within the applicable extension period and the Service declares the Auction closed.
Upon being declared the Successful Bidder:
The $5,000 CAD credit card pre-authorization will be charged to the credit card on file and applied toward the required Deposit.
The remaining balance of the Deposit must be paid within twenty-four (24) hours of the Auction closing time through a secure Payload payment link provided by the Company.
The Successful Bidder must execute the Purchase Contract and applicable Auction Schedule prepared by the Company within twenty-four (24) hours of the Auction closing time.
An accepted successful Bid creates a legally binding agreement between the Seller and the Successful Bidder for the sale and purchase of the Property, subject to the Purchase Contract and applicable Auction Terms
Failure to satisfy the payment, signing or other requirements within the specified time may constitute a default under the applicable Auction Terms and Purchase Contract. In the event of default, the Deposit may be forfeited, and the Seller may pursue any additional remedies available under the Purchase Contract and applicable law.
Each Auction is subject to a Buyer's Premium, as specified in the applicable Auction Terms. The Buyer's Premium shall be calculated in accordance with the disclosed rate or amount and added to the Successful Bid to determine the Total Purchase Price payable by the Successful Bidder.
The Successful Bidder is solely responsible for payment of the Buyer's Premium, in addition to the Successful Bid amount.
Each Bidder is responsible for reviewing and understanding the applicable Buyer's Premium and its effect on the Total Purchase Price before submitting a Bid.
The Successful Bidder is required to pay the Deposit in accordance with the applicable Auction Terms and Purchase Contract. The Deposit consists of the initial $5,000 CAD credit card charge and the remaining Deposit balance, which must be paid through a secure Payload payment link within twenty-four (24) hours of the Auction closing time.
The remaining balance of the Total Purchase Price, must be paid in accordance with the Purchase Contract no later than the applicable Completion Day (Possession Date).
Failure to satisfy the payment, signing or other requirements within the specified time may constitute a default under the applicable Auction Terms and Purchase Contract. In the event of default, the Deposit may be forfeited, and the Seller may pursue any additional remedies available under the Purchase Contract and applicable law.
Property Information is provided for general informational and marketing purposes.
While the Company may make reasonable efforts to provide accurate information, neither the Company nor its representatives warrant the accuracy, completeness, currency, or reliability of Property Information except as expressly required by applicable law.
Property descriptions, photographs, measurements, square footage, lot dimensions, zoning information, permitted uses, taxes, assessments, condition information, reports, and other information should be independently verified by each Bidder.
Each Bidder is responsible for conducting such inspections, searches, investigations, professional consultations, financing inquiries, and other due diligence as the Bidder considers appropriate before submitting a Bid.
Bidders are encouraged to obtain independent legal, financial, tax, property inspection, and other professional advice before participating in an Auction or purchasing a Property.
Unless otherwise expressly stated in the applicable Purchase Contract or Auction Terms, Properties are offered in their existing condition as of the applicable date specified in the Purchase Contract.
Any representations or warranties concerning a Property shall be governed by the applicable Purchase Contract, Seller disclosures, and applicable law.
The Service itself does not constitute a representation or warranty regarding the physical, environmental, financial, legal, zoning, development, or other condition of a Property.
Property information, auction details, bid information, and other content displayed through the Service may occasionally contain errors, inaccuracies, omissions, or technical issues.
The Company reserves the right to correct any errors, inaccuracies, or omissions, subject to applicable law and the applicable Auction Terms.
The Company does not guarantee uninterrupted or error-free access to the Service. Internet or telecommunications disruptions, device failures, software errors, server outages, or other circumstances beyond the Company's reasonable control may affect access to the Service, interfere with an Auction, or prevent the submission of Bids.
Any actions, remedies, or procedures arising from a material technical failure affecting an Auction shall be governed by the applicable Auction Terms and applicable law.
A Bid MUST NOT be submitted on the assumption that the purchase will be conditional upon the Bidder obtaining financing.
Each Bidder is responsible for arranging any financing required to complete the purchase BEFORE participating in an Auction.
When You create an Account, You must provide information that is accurate, complete, and current.
You are responsible for safeguarding Your password and Account credentials and for all activity occurring through Your Account.
You must not permit another person to submit Bids through Your Account.
You must notify Us immediately if You become aware of unauthorized access to or use of Your Account.
The Company may suspend or terminate an Account where We reasonably believe that the Account has been compromised, used fraudulently, used in violation of these Terms and/or Auction Terms, or otherwise poses a risk to the integrity of an Auction.
You must not engage in any conduct intended to improperly manipulate an Auction or interfere with the fair operation of the Service.
Without limiting the foregoing, You must not submit false, fraudulent, fictitious, collusive, or artificially inflated Bids; coordinate Bids for an improper purpose; interfere with another Bidder's participation; attempt to gain unauthorized access to another Account; or use automated systems to interfere with the bidding process.
The Company may suspend bidding privileges, reject Bids, terminate Accounts, or take other reasonable action where it reasonably suspects fraudulent, collusive, unlawful, or manipulative activity.
The Service and its original content, features, functionality, trademarks, branding, software, and other intellectual property are and will remain the exclusive property of the Company or its licensors.
Property photographs, descriptions, reports, documents, and other materials may also be owned by Sellers, photographers, service providers, or other third parties and may not be copied, reproduced, distributed, or commercially used without authorization.
The Service may contain links to or integrations with third-party websites and services that are not owned or controlled by the Company.
The Company does not control and assumes no responsibility for the availability, content, privacy policies, terms, accuracy, or practices of third-party websites or services.
Your use of third-party services is subject to the applicable third party's terms and policies.
The Company may suspend or terminate Your Account or access to the Service where permitted by these Terms, the applicable Auction Terms, or law, including where You breach these Terms or engage in activity that threatens the security or integrity of the Service or an Auction.
Termination or suspension of an Account does not relieve You of obligations arising from Bids, Purchase Contracts, Auction Terms, or transactions entered into before such termination or suspension.
To the maximum extent permitted by applicable law, the Company shall not be liable for indirect, incidental, special, consequential, exemplary, or punitive damages arising from or relating to Your use of or inability to use the Service.
Without limiting the foregoing, the Company shall not be liable for losses arising solely from internet connectivity problems, device failures, telecommunications failures, third-party service interruptions, or other technical circumstances outside the Company's reasonable control, subject always to applicable law and the specific Auction Terms.
The Service is provided on an "AS IS" and "AS AVAILABLE" basis to the maximum extent permitted by applicable law.
The Company does not guarantee that the Service will be available at all times, operate without interruption or errors, or that any defects or technical issues will be identified or corrected.
The Company makes no representations or warranties regarding the accuracy, completeness, or currency of information provided through the Service by Sellers or other third parties.
These Terms and Your use of the Service shall be governed by and interpreted in accordance with the laws of the Province of Alberta and the federal laws of Canada applicable therein, without regard to conflict-of-law principles.
If You have a concern or dispute relating to the Service, You agree to first make reasonable efforts to resolve the matter informally by contacting the Company.
Nothing in this section prevents either party from exercising any right or remedy available under applicable law or an applicable Purchase Contract.
If any provision of these Terms is determined to be invalid, illegal, or unenforceable, that provision shall be interpreted or modified to the minimum extent necessary to make it enforceable where legally permissible, and the remaining provisions shall remain in full force and effect.
A failure or delay by the Company in exercising any right under these Terms shall not constitute a waiver of that right. A waiver of one breach shall not constitute a waiver of any subsequent breach.
We reserve the right to modify these Terms from time to time.
Where a change is material, We will make reasonable efforts to provide notice as required or appropriate under applicable law.
Your continued use of the Service after revised Terms become effective constitutes Your acceptance of the revised Terms, except where further consent is required by law.
Changes to these general Terms shall not retroactively alter a binding Purchase Contract or completed Auction transaction except where permitted by the applicable agreement or law.
If You have any questions about these Terms and Conditions, You may contact:
Last Bid Realty Inc.
#203, 2140 39th Ave NE
Calgary, Alberta T2E 6P7
Canada
Email: [email protected]