Privacy Policy

1. Introduction

HomeBid ("we," "our," or "us") is committed to protecting your privacy. This Privacy Policy explains how we collect, use, disclose, and safeguard your information when you use our platform and services.

By using HomeBid, you agree to the collection and use of information in accordance with this policy. If you do not agree with our policies and practices, please do not use our services.

2. Information We Collect

2.1 Personal Information

We collect the following types of personal information:

• Identity Information: Name, date of birth, government-issued ID
• Contact Information: Email address, phone number, postal address
• Financial Information: Bank account details, proof of funds, mortgage details
• Property Information: Property details, ownership documents, transaction history
• Verification Documents: ID documents, utility bills, bank statements

2.2 Automatically Collected Information

• Device information (IP address, browser type, operating system)
• Usage data (pages visited, time spent, features used)
• Cookies and tracking technologies
• Location data (with your permission)

3. How We Use Your Information

We use your information for the following purposes:

• Service Delivery: To provide, maintain, and improve our platform
• Identity Verification: To verify your identity and prevent fraud (KYC/AML compliance)
• Transaction Processing: To facilitate property transactions and payments
• Communication: To send you updates, notifications, and customer support
• Analytics: To understand how users interact with our platform
• Legal Compliance: To comply with legal obligations and protect our rights
• Marketing: To send promotional materials (with your consent)

4. Legal Basis for Processing (GDPR)

Under GDPR, we process your data based on:

• Consent: You have given explicit consent for specific purposes
• Contract: Processing is necessary to fulfill our contract with you
• Legal Obligation: We must process data to comply with legal requirements (KYC/AML)
• Legitimate Interest: Processing is necessary for our legitimate business interests

5. Data Sharing and Disclosure

We may share your information with:

• Transaction Parties: Buyers, sellers, estate agents, solicitors involved in your transaction
• Service Providers: Third-party vendors who assist in operating our platform
• Financial Institutions: Banks and lenders for verification purposes
• Identity Verification Services: KYC/AML compliance providers
• Legal Authorities: When required by law or to protect our rights
• Business Transfers: In connection with mergers, acquisitions, or asset sales

6. Data Security

We implement industry-standard security measures including:

• 256-bit SSL/TLS encryption for data transmission
• Encrypted storage for sensitive data at rest
• Multi-factor authentication
• Regular security audits and penetration testing
• Access controls and employee training
• Blockchain technology for immutable transaction records

7. Your Data Rights (GDPR)

As a UK/EU resident, you have the following rights:

• Right to Access: Request copies of your personal data
• Right to Rectification: Correct inaccurate or incomplete data
• Right to Erasure: Request deletion of your data ("right to be forgotten")
• Right to Restrict Processing: Limit how we use your data
• Right to Data Portability: Receive your data in a machine-readable format
• Right to Object: Object to processing based on legitimate interests
• Right to Withdraw Consent: Withdraw consent at any time
• Right to Lodge a Complaint: File a complaint with your data protection authority

8. Data Retention

We retain your data for as long as necessary to:

• Provide our services to you
• Comply with legal obligations (typically 7 years for financial records)
• Resolve disputes and enforce agreements
• Meet regulatory requirements (KYC/AML)

Blockchain-stored data (NFT Property Passports) is permanent and cannot be deleted due to the immutable nature of blockchain technology.

9. International Data Transfers

Your data may be transferred to and processed in countries outside the UK/EU. We ensure appropriate safeguards are in place, including Standard Contractual Clauses (SCCs) and adequacy decisions.

10. Cookies and Tracking

We use cookies and similar technologies. For detailed information, please see our Cookie Policy.

11. Children's Privacy

Our services are not intended for individuals under 18 years of age. We do not knowingly collect personal information from children. If you believe we have inadvertently collected such information, please contact us immediately.

12. Changes to This Policy

We may update this Privacy Policy from time to time. We will notify you of material changes by email and/or prominent notice on our platform. Continued use after changes constitutes acceptance.

13. Contact Us