VASCRE Terms of Use

Effective Date: January 6^th, 2024

These Terms of Use (“Terms”) govern your access to and use of VASCRE’s platform, services, and products (collectively, the “Services”). By accessing or using the Services, you agree to be bound by these Terms. If you do not agree, you may not use the Services.

1. Overview of Services

VASCRE provides software solutions for commercial real estate appraisers and agents, including tools for generating reports, analyzing data, and accessing market insights. Additional features include generated market analysis reports, Broker Opinion of Value (BOV) reports, and AI-powered analysis of lease and PSA documents.

2. Eligibility

To use the Services, you must be at least 18 years old and capable of entering into legally binding agreements. By using the Services, you represent and warrant that you meet these requirements.

3. Account Registration

3.1 Account Creation: To access certain features of the Services, you must create an account. You agree to provide accurate, complete, and up-to-date information during registration.

3.2 Account Security: You are responsible for maintaining the confidentiality of your account credentials and for all activities under your account. Notify us immediately if you suspect unauthorized access.

4. Acceptable Use

4.1 Prohibited Activities: You agree not to:

• Use the Services for unlawful purposes.
• Reverse engineer, decompile, or disassemble the platform.
• Introduce malicious software (e.g., viruses, worms).
• Access or scrape data not intended for your use.

4.2 Compliance: You agree to comply with all applicable laws and regulations while using the Services.

5. Payments and Fees

5.1 Pricing: VASCRE operates on a pay-per-report model, with fees specified on the platform at the time of purchase.

5.2 Billing: You agree to provide valid payment information and authorize us to charge the applicable fees.

5.3 Refunds: All sales are final unless otherwise specified in our Refund Policy.

6. Intellectual Property

6.1 Ownership: VASCRE retains all rights, title, and interest in the Services, including but not limited to software, trademarks, and content.

6.2 License: Subject to your compliance with these Terms, VASCRE grants you a limited, non-exclusive, non-transferable license to use the Services.

7. Data and Privacy

7.1 Data Use: By using the Services, you agree that we may process data as described in our Privacy Policy.

7.2 Confidentiality: You agree not to disclose proprietary or confidential information obtained through the Services.

8. Accuracy and Responsibility

8.1 No Guarantee of Accuracy: VASCRE does not guarantee the accuracy, completeness, or reliability of any reports, data, or insights generated through the Services.

8.2 User Responsibility: Users, especially appraisers, are solely responsible for reviewing and ensuring that any data, reports, or analyses generated by the Services meet their professional standards and are accurate for their intended use.

• Appraisers must ensure that all content generated by the platform complies with the Uniform Standards of Professional Appraisal Practice (USPAP) and any other relevant regulations or guidelines in their jurisdiction.

8.3 Professional Standards: It is the responsibility of each professional using the Services, including appraisers, to verify that the reports and data comply with their professional standards, regulatory requirements, or industry practices. This includes ensuring that all reports are USPAP-compliant and align with applicable state or federal guidelines for commercial real estate appraisals.

9. Broker Opinion of Value (BOV) Disclaimer and Licensing Requirements

9.1        Broker Opinion of Value (BOV) Use

• The BOV generated through VASCRE is intended solely for informational purposes and is designed to provide market insights based on available data. It is not a substitute for an official appraisal or real estate valuation.
• By using the platform, you acknowledge and agree that the BOV produced through VASCRE is a general market analysis and should not be relied upon for making critical financial decisions or for transactions involving financing or formal sale agreements.

9.2        Real Estate License Requirement

• In certain jurisdictions, preparing or utilizing a BOV for the purpose of real estate transactions (including but not limited to property listings, sales negotiations, or determining listing prices) may require a valid real estate license.
• Users of VASCRE are solely responsible for ensuring that any BOV used for transactional purposes complies with state-specific licensing laws and that they hold the necessary real estate license when required by applicable law.
• VASCRE does not provide any real estate licenses nor guarantee that users meet the licensing requirements for the creation or use of BOVs in their jurisdiction.

9.3        Limitation of Liability

• VASCRE and its affiliates are not responsible for any legal issues arising from the use of BOVs generated through the platform. Users are solely responsible for verifying the legality of using the BOV in their state or jurisdiction.
• Any reliance on the BOV for financial, transaction, or real estate purposes is done at the user’s own risk, and VASCRE shall not be liable for any losses or damages that result from such use.

9.4        Clarification of Services

• The BOV generated by VASCRE is not an official appraisal and is not designed to meet the requirements of USPAP (Uniform Standards of Professional Appraisal Practice), FIRREA (Financial Institutions Reform, Recovery, and Enforcement Act of 1989), or other regulatory standards governing formal appraisals.
• For official appraisals or for transactions requiring formal valuations, users should consult with a licensed appraiser or a licensed real estate professional.

10. Industry Compliance and Best Practices

10.1 Appraisal Standards (for Market Analysis Reports)

Users must ensure that any valuation data, assumptions, or methods used by VASCRE align with applicable industry standards such as the Uniform Standards of Professional Appraisal Practice (USPAP). Reports generated by the platform should be clearly distinguished from formal appraisal reports.

10.2 BOV-Specific Compliance

Users must comply with all relevant laws and regulations related to Broker Opinion of Value (BOV) in their jurisdiction. This may include, but is not limited to:

• State-Specific Real Estate Licensing Laws: Some jurisdictions require a valid real estate license to produce a BOV.
• Real Estate Settlement Procedures Act (RESPA): Ensure that BOVs generated in commercial contexts comply with RESPA, especially concerning referral fees or commission payments.

VASCRE makes no claim or guarantee that the BOV generated through the platform constitutes an official appraisal or a legally binding valuation. It is intended solely for informational and general market analysis purposes. Users should consult a licensed real estate professional or appraiser for any formal valuation or transactions requiring a legally recognized BOV.

10.3 Data Privacy and Security Standards

Users are required to comply with all applicable data privacy and security laws in their jurisdiction, including but not limited to:

• General Data Protection Regulation (GDPR): For users in the European Union, compliance with GDPR is mandatory.
• California Consumer Privacy Act (CCPA): Users in California must comply with CCPA.
• Health Insurance Portability and Accountability Act (HIPAA): Compliance with HIPAA is required when dealing with sensitive healthcare property data.

10.4 Market Data Standards

Users must ensure that any third-party market data used within the Services, such as MLS or commercial real estate databases (e.g., CoStar, LoopNet), complies with the relevant terms of service of the data providers.

10.5 Marketing & Advertising Compliance

Users must adhere to all relevant advertising regulations, including but not limited to:

• Truth in Advertising: Ensure that any marketing materials and claims about VASCRE’s capabilities are truthful and substantiated.
• Financial Industry Regulatory Authority (FINRA): Users engaging in investment analysis or marketing VASCRE’s services to brokers must comply with FINRA advertising rules.

11. Limitations of Liability

11.1 No Warranty: The Services are provided “as is” without warranties of any kind.

11.2 Liability Cap: To the extent permitted by law, VASCRE’s liability is limited to the fees you paid in the 12 months preceding the claim.

12. Termination

12.1 Termination by User: You may terminate your account at any time.

12.2 Termination by VASCRE: We may suspend or terminate your access if you breach these Terms.

13. Changes to Terms

VASCRE reserves the right to update these Terms at any time. Continued use of the Services constitutes your acceptance of the revised Terms.

14. Governing Law and Dispute Resolution

These Terms are governed by the laws of [Insert Jurisdiction]. Any disputes will be resolved exclusively in the courts of [Insert Jurisdiction].

15. Contact Us

If you have questions about these Terms, contact us using our website or email us at:

Email: [email protected]