Frequently Asked Questions
Haus is different, we understand if you have questions. Here you’ll most likely find answers for all of them.
What is Haus?An online platform for making and accepting offers on residential real estate. The platform enables agents and their clients to submit offers online efficiently and securely, view all offers side-by-side, and improve an offer without additional paperwork. The platform is an efficient, online answer to the antiquated home buying and selling process.
Is Haus a brokerage, real estate sales person or otherwise licensed to sell real estate?No. Haus is simply a software platform for real estate agents and their clients to use. Haus will not provide any real estate brokerage services or legal, financial, tax or accounting advice. In addition, Haus does not perform any due diligence or investigation, and does not make any warranties, regarding the Property or the parties.
Do you really show another prospective buyer’s offer price and terms to other prospective buyers?Yes, the price and terms of a submitted offer are visible to other prospective buyers who have submitted an offer.
Can Haus disclose information about one buyer’s offer to another?Yes, in California, the seller can elect to disclose the price and terms of offers. The seller has given Haus permission to do so.
Why does Haus show another prospective buyer’s offer price and terms to other prospective buyers?Transparency. An open-offer platform enables a prospective buyer to know where their offers stands and improve their offer if they so choose. Prospective buyers benefit because they know the seller has seen their offer and they are saved the guess-work of finding the perfect price and term- the market will decide. For the seller, they are saved the anxiety-inducing decision of whether to counter offer and, if so, to whom.
What information will other prospective buyer’s see about a submitted offer?Other prospective buyers will see an offer’s price and key terms and conditions. No personally identifiable information, including your name, will be disclosed to other prospective buyers, nor will other prospective buyers be able to see the prospective buyer’s agent and brokerage.
Who can see the information related to my offer?
- Anyone following the home can see that an offer has been made but not the price and terms or by whom.
- Other buyers whose offers have been submitted can see the price and a summary of the terms of your offer. They cannot see your name, the additional information, if any, that you submit, your loan officer's name, your lender's name, or your agent's name.
- The seller and their agent can see all of the details of your offer. Haus anonymizes your name for the Offer Comparison but the seller and their agent will have full access to the offer documents your agent has submitted.
Why do you obscure the name and age of the prospective buyer to the seller and seller’s agent in the offer comparison?Fairness. The name of the prospective buyer does not affect the quality of of his, her or their offer, but it could create bias, conscious or unconscious, for the seller or listing agent in selecting an offer.
When can prospective buyers and their agents see the price and terms of existing offers?Prospective buyers and their agent can see the price and terms of other existing offers, after they have submitted an offer for the property.
Where does Haus operate?Currently, Haus is available in California. Stay tuned for our expansion to other markets.
What is Haus’s Signing Procedure?Haus uses electronic signatures for signing. An electronic signature as defined by the California Uniform Transaction Act is an electronic sound, symbol, or process attached to or logically associated with an electronic record and executed or adopted by a person with the intent to sign the electronic record.
Following a Listing
Why would I follow a listing?By following a listing you can get notifications via text SMS and/or email when someone makes an offer on a property.
Why did you ask me if I’m working with a buyer’s agent?With your consent we share your name and email with the listing agent if you indicate you are not working with a buyer’s agent. If you indicate you are working with a buyer’s agent, we will not provide them with your contact information.
Posting a Listing
How does a listing get onto the platform?
- The listing agent representing the seller provides some basic information about the property and offer instruction to Haus. Haus then creates a unique URL.
- Buyers and their agents can then search for the home and “follow” it to get notifications when offers are made.
- Buyers can, through their agents, continually improve their offer within the platform without submitting additional paperwork.
What settings can I control when posting a property on Haus?The listing agent who posts the property on Haus selects the form of contract for the offers, the initial offer submission deadline, a minimum required offer price, and additional supporting documents that need to accompany the offer.
What does initial offers submission deadline mean?The initial offers submission deadline is date and time by which the seller has requested initial offers be submitted. The seller can extend this at any time.
If my property is posted on Haus do I have to accept the highest offer?No, the acceptance of an offer, if any, is at the full discretion of the seller.
Does my listing agent have to use Haus exclusively to accept offers?Yes, if your listing agent posts your property on Haus, you and they will need to consent to making Haus the exclusive means of accepting offers for your property. The exclusivity is for as long as the posting is active on Haus.
Why does Haus require exclusivity?To protect the integrity of the open-offer platform and to ensure that it is trusted by prospective buyers.
Who can post a property on Haus?Only a licensed real estate salesperson acting under the authority of a licensed real estate broker can post a property on Haus.
Making an Offer
How does an offer get submitted for a property using the platform?
- The buyer and their agent fill out the paperwork for an offer.
- The buyer’s agent then submits it on Haus through the property’s unique URL.
- For more details, check out How It Works for a step-by-step walkthrough.
What feedback should I expect from the seller after I submit my offer?The seller can accept, reject or do nothing with submitted offers. Sellers can also broadcast messages to all prospective buyers who have submitted offers.
What happens after I change the price or a term of the offer through Haus?The seller, their listing agent, and the other prospective buyers and their agents who have submitted offers are notified that your offer changed.
How do I change the price or a term of my offer through Haus?Your agent can change the price or a term of your offer through Haus by clicking that item within your offer summary. Once your agent has indicated the change in price or terms and both you have verified the change, Haus will generate a digital addendum to your original offer contract.
Can I decrease my offer price on Haus?Offer prices can only be increased within an existing offer. To decrease an offer price an offer must be withdrawn and the contract rewritten and submitted as a new offer.
How do I find out if the seller has accepted another offer?Once the purchase contract has been executed by both the seller and buyer the status of the property will change on Haus and a notification will be sent to all prospective buyers and their agents who have submitted offers.
What if I change my mind about wanting to buy the home?Offers can be withdrawn prior to being accepted by the seller at any point.
Who can submit an offer for a property posted on Haus?All offers must be submitted by a licensed real estate salesperson acting under the authority of a licensed real estate broker.
What happens when the expiration time and date for my offer is reached?Your offer will be noted as expired. If the seller chooses to accept your offer you will need to change the expiration time and date within Haus so that the offer acceptance is binding.
How do I find out what information the seller requires be submitted with the offer?Once you follow a home, you can access the Offer Rules under the Listing Info. You can access the Listing Info page for the home by clicking on "Your Listings" on the left-hand side of the screen. The homes you are following will be listed on that page. To find out the Offer Rules simply click on the address of the property.
What does it mean when a buyer submits an offer through the Platform?When a potential buyer submits an offer through the Platform, they must confirm their intent to enter into a legally binding contract if the seller accepts the offer on its terms prior to its expiration date. The potential buyer submits their offer on a signed purchase contract, which may include signed addenda. If the seller accepts the offer, they will confirm their acceptance and agree to sign the purchase contract including any addenda. The parties will then have a fully signed purchase agreement to which both parties have agreed to be legally bound.
How is the buyer’s offer changed through Haus?The Buyer’s Agent can prepare an improved offer at the Buyer’s direction on the Platform. The Buyer’s Agent can do so by clicking on the price or term within the Offer Detail on the Platform and submitting new information. A modified offer price or term(s) entered by Buyer’s Agent via the Platform generates an addenda to the original offer that was submitted. Then the Buyer must verify and digitally sign the addenda to submit the improved offer. Click here to view a sample of the addendum.
How is an offer accepted?The seller selects an offer on Haus to accept and confirms upon review of the originally submitted contract and any addenda created through the Haus platform that they agree to sell the property for that price and terms. The buyer is then notified that their offer has been accepted by the seller. The seller and the listing agent then work with the buyer and buyer’s agent to transition the property to a closing process that takes place outside of the Haus platform.
What does it mean when a seller accepts an offer through the Platform?When a seller accepts an offer through the Platform, they must confirm their intent to enter into a legally binding contract on the terms of the offer. The seller must also confirm that simultaneous with the offer acceptance, they will sign the purchase contract submitted by the buyer, along with any addenda that the buyer has submitted as part of the offer. The parties will then have a fully signed purchase agreement to which both parties have agreed to be legally bound.
How are you calculating the estimated property taxes, title & escrow and closing costs?All of the calculations we have are based on the county level.
Property Taxes: We use census data for the property tax rate at a county level. As there may be other extraneous factors that go into calculating property tax rate, this number is not exact, but it will help you estimate.
Title & Escrow: We use an aggregate number derived from that provided by numerous title companies in the U.S. This number will not be exact, because there are choices that you, as a seller, can make when choosing title insurance that will affect your total.
Closing Costs: We use an aggregate number derived from that provided by numerous title companies in the U.S. This number will not be exact, because there are choices that you, as a seller, can make when choosing title insurance that will affect your total.
I think my estimated take-home price is incorrect, how do I fix this?If you have questions about your estimate or any of the steps along the way, click on the chat icon in the corner of your screen. We are more than happy to answer your questions.
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