Simplify the Due Diligence Process on Your Investment Properties
Real estate investors spend lots of time and money conducting their own due diligence before closing a deal. Sundae simplifies the due diligence process by providing information when possible that saves you time.
Oftentimes, the difference between a good deal and a bad deal comes down to information revealed during the due diligence process. In your investing journey, you’ve probably spent countless hours venturing from property to property, digging through records, and more to ensure that you know what you’re getting into. This can be rather time consuming.
Sundae’s Marketplace is designed to simplify your due diligence process. In this article, you’ll learn how we do just that.
In the past, you’ve probably seen a property with one or two photos, or a lackluster description that can’t inform your purchase. Since this isn’t exactly useful, many investors go to the house to see it for themselves.
Physically doing a walkthrough is time consuming for investors. Most have several prospective property investments in mind so scheduling an in-person tour for each one is taxing. Not to mention the distance and time it takes to get from one property to another– what if each property is 15 miles apart?
It’s possible to be overwhelmed driving from one property to another, managing your business, and even finding deals in the first place. With only a limited amount of time per day, Sundae wants to free up your time normally spent visiting properties.
When thorough virtual listings are posted, Sundae helps save time and boosts confidence in purchasing a deal. You don’t have to visit the property in-person to find out why the basement was omitted or wonder what the kitchen looks like.
Whether you invest locally or out of state, having a floor plan is invaluable. It allows you to make an offer based on what you see that can help you add value and makes underwriting easier. Sundae brings you transparency throughout the buying process.
Inspection reports often inform an investor’s renovation budget. However, it’s expensive to conduct inspections on each of the potential deals you’re considering. Some flippers purchase over 20 properties each year, but they look at far more to determine whether or not it’s a good investment. Between walking the property with contractors and hiring inspectors to dig deeper, it adds up to large swaths of time and money.
Listings on Sundae’s Marketplace show transparency in regards to the condition of properties including:
- Structural cracks
- Plumbing leaks
- Roofing leaks or damage
- Electrical issues (e.g., properly working outlets)
- Basement condition
- Broken or worn kitchen appliances
- Poor air quality
- Much more
Sundae provides third party property inspection details to investors, but please note that Sundae is not addressing any of these potential defects. Instead, this is to provide investors with more information when making a decision.
Preliminary title report
Oftentimes, due diligence includes locating a preliminary title report to ensure legal ownership of a property.
Sundae wants investors to have confidence. The title report, issued by a licensed title insurance company, is already provided and includes key components of property history. Documentation and homeowner identity are verified so you can expect a clean title. Investors know if any public errors occurred instead of sifting through information. Here’s other components of a title report that you can find on Sundae’s Marketplace:
- Liens on the property
- Violation codes
- Property disputes
- Estate plans
- Third party liabilities
Sundae simplifies your due diligence
When your due diligence is easier, it gives you more time to focus on other areas of your business. Whether it’s a virtual tour that you could take at your own pace or detailed inspection and title report, knowing this information beforehand saves your time and money.
By utilizing Sundae’s Marketplace, you gain access to a comprehensive platform with quality photos and vetted properties. More readily available information about home listings means that you’ll have more confidence to place an offer.