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joogi transparency guarantee

No fine print. No gatekeeping. No guesswork.

At joogi, we believe trust starts with transparency. That’s why we’re committed to showing you exactly how our platform works. How homes are crowdfunded, how rewards are earned, and how winners are verified. Every dollar, every rule, every update is made public, so you never have to wonder what’s happening behind the scenes.

What is joogi and how is it different? 

Crowdfunded homes. No debt. Just ownership. Joogi is turning the dream of homeownership into community-powered reality. Joogi homes are 100% funded by our community , which means that when the keys are handed over, there are no banks, no mortgage, no debt - just a home that is 100% yours. 


We’re on a mission to democratize real estate and pave another path to homeownership, and as a radical new social crowdfunding platform, we recognize that comes with a number of questions from you! Transparency and providing a sense of security is our top priority, so we’ve outlined some of the nuts and bolts of our financial process below. That said, if you still have questions, don’t hesitate to reach us at support@joogi.com - we want to hear from you!

How does joogi make money?  

Similar to all crowdfunding models, such as GoFundMe, Patreon, Kickstarter and more, joogi does collect a 6% administrative fee on the total cost of the home. This is aligned to the industry standard practice and fee, which generally ranges from 5% - 10%. All dollars contributed to the crowdfund by the community will be used for the purchase of the home, including all closing costs and the joogi administrative fee. 

 

Additionally, we’re working to infuse the joogi platform with more fun via free-to-play and pay-to-play games, and considering thoughtful, relevant ways to integrate partnerships and advertising with like-minded brands.

During the crowdfunding stage, how do I know my donation is secure? What happens if the home isn’t fully funded? 

We use Stripe secure payment processing for all crowdfund contributions. All contributions (minus credit card transaction fees) are held in a sole-purpose, secure savings account until the funding target is reached. Those funds will stay in the account until the home’s closing, when they will be used to purchase the home. The legal transaction will strictly be between the auction winner and the seller. 

 

It’s important to know that we stand by a giving guarantee, and promise a refund of your contribution to a crowdfund (minus credit card transaction fees), if the home is taken off the platform before it reaches its funding target.

How does the auction work? 

Once a home has reached its funding target, it will move into a blind, electronic auction, meaning you won’t know what others are bidding. The auction will take place for a set amount of time, anywhere from 48 - 72 hours, allowing you to place a bid using your joogi rewards. You can place or change your bid right up until the end of the auction period. At the close of the auction, the person who bid the most joogis, will be determined the highest bidder and therefore winner of the home. 

 

In the event of a tie, the user who placed their bid first will be deemed the winner. Since this is a blind auction and there is no way of knowing where other bidders are at, people are encouraged to continue to earn and bid joogis throughout the full duration of the auction. 

 

If you do not prevail, ALL of your joogis will be returned to your account, allowing you to participate in a future auction.

What happens once the auction is complete and a winner is selected? 

Once a winner is determined, we will conduct a background check on the individual to ensure they meet participation criteria, and an audit to confirm that their earning of joogis was done fairly and inline with the terms and conditions. 

 

Using the email address associated with their joogi account, the winning bidder will be notified by email after completion of the audit. They will receive the final purchase documents for electronic signature and must sign the purchase documents within 7 days upon being notified as the winner. The property is non-assignable and the winning bidder must be responsible for closing within 30 days. At closing, the winning bidder must provide identification. If they are unable to sign in person, they may need to pay for a mobile notary to sign the deed wherever they are or engage a lawyer to support on their behalf.    

 

Disclaimer: If the winning bidder fails to timely sign the purchase documents, we may declare winning bidder to be in default of these Terms and reject the winning bidder’s offer. 

The home may be paid for - but what associated costs is the winning bidder responsible for? 

While the joogi community does the heavy lifting, there are additional costs that the winning bidder is responsible for. We encourage you to consult with a real estate and/or financial professional regarding these costs so you can plan and budget accordingly. 

  • Buy-in of HOA and HOA fees

  • Insurance outside of what HOA covers

  • Property taxes and utilities from the date of closing 

  • Optional: Outside real estate agent 

  • Optional: Property inspection (The property will come as-is)

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