Buy Properties at a Set Price With Purchase Direct
Sundae’s Marketplace continues to revolutionize real estate investing with Purchase Direct: a faster way to win deals.
After conducting several interviews with investors, it became pretty clear that there’s a need for speed. On one hand, the market is ever-changing and at the same time seller expectations are shifting. This makes it harder for investors to predict what their competition will offer and what the seller will accept for their house.
These findings led us to our latest capability: Purchase Direct. Purchase Direct enables investors to acquire select properties at a predetermined price. Now, investors can move quicker and buy properties at a set price without having to wait for the auction to close.
Purchase Direct was built with the investor in mind
Purchase Direct gives real estate investors a way to acquire properties with more certainty on Sundae’s Marketplace. In an auction, you’re competing against other investors where it can be challenging to anticipate what they’ll offer for a property. It’s also hard to know what a seller will accept.
Purchase Direct eliminates the guessing game. The price you see is the price that the seller has set. Sellers agree to the price ahead of time, so you know that your offer will be in the right ballpark. This increases the likelihood that they’ll accept.
Josh Stech, CEO and co-founder of Sundae, expanded on this point:
“Before starting Sundae, I spent many years as a property investor and know the frustrations that come with finding and winning a property. Our goal was to create options on our marketplace that benefit both our investors and sellers equally, taking away the guesswork and stress that comes with both searching for and selling a property. Purchase Direct gives property investors a fast way to acquire properties while helping our sellers stay in control of the price that’s set. It’s really a win-win.”
How it works
As an investor, you likely have specific underwriting requirements and a certain price you won’t pay more than for a property. With Purchase Direct, buying your next deal is as easy as 1-2-3.
1. Click on the Purchase Direct button in the marketplace
Purchase Direct properties have a visual indicator badge on the opportunity. The property details page also features a Purchase Direct button.
2. Find an opportunity you like
Investors will be notified of new Purchase Direct properties for their specific markets through an automated email. Click on the opportunity and you will be taken to the property details page. Purchase Direct opportunities are also labeled at the top of the list of available properties once you log into the Marketplace. When browsing the Purchase Direct listings, see if you can find a house you like that meets your underwriting criteria.
3. Purchase the property without any competition
Once you place your offer, we will get final confirmation from the seller.
It’s also important to note that the first investor to click on the Purchase Direct button will have the opportunity to purchase and sign a Purchase Sales Agreement. Investors who come after that will be added to a list in the order they clicked. If a deal falls through and you are the next in line, your Investor Advisor will reach out to you directly to inform you that the opportunity is open and guide you through the next steps to sign the Purchase Sales Agreement.
The best part? Purchase Direct is currently open to all Sundae Essential, Edge, and Edge+ members.
A competitive advantage
In 2022, investors face challenges to find and acquire properties at a fair price like never before. Market conditions are changing, borrowing terms continue to change with interest rates rising, and seller expectations are less predictable. This has increased the need (from both sellers and investors) for a faster bargaining and transaction process.
The competitive offer process on Sundae’s Marketplace has been an important bargaining vehicle that allows both parties to discover the best price. Now, Purchase Direct gives investors another option to buy and solidifies Sundae’s dedication to creating the best end-to-end investment property buying experience.
Investors who use Purchase Direct will have these advantages:
- More certainty. Opportunities are listed with a fixed price set by the seller, eliminating the guesswork.
- Less competition. If they are first to click, they go into the deal with Purchase Direct, no other investors are involved.
- Save time. Move directly into a Purchase Sale Agreement without as much back-and-forth.
Investors will have the ability to commit immediately to purchasing the property at this advertised sell-now price.In addition, the listing will include all of Sundae’s detailed property information — including a 3D home tour and a licensed inspection report in most cases.
One click and no competition
Skip the offer stage and go straight to Purchase Direct. All you have to do to get started is sign up for Sundae’s Marketplace or login if you’re already a member. Then you can start browsing the Purchase Direct listings immediately.