What goes on inside of Sundae’s Marketplace may feel like a mystery to sellers. This article shows you the investor’s perspective throughout the process.
After comparing a variety of options, you’ve decided to list your home for sale on Sundae’s Marketplace. You considered listing it on the Multiple Listing Service (MLS) and even spoke to a variety of iBuyers. However, the thought of selling your house as-is and getting multiple offers from investors really stood out to you.
As soon as you sign your marketplace agreement, the selling process begins to move quickly. A Sundae team member puts together a profile for your house and eventually goes live on our platform. Homeowners who sell on Sundae’s marketplace receive an average of 10 offers, but you’re probably wondering what goes on behind the scenes.
Once you list your property on our marketplace you will start to receive offers in as little as 4 days. Here’s how it works from the investor’s perspective.
Finding the Property
A common question that homeowners have is “how does an investor find my house in the first place?”
Each day, investors receive email updates including the most recently added properties in areas where they invest. Emails contain information such as:
- Bedroom and bathroom count
- Square footage
- Asking price
- The time when offers are due by
If they see something they like, they can click into the listing and log onto Sundae’s Marketplace to take a deeper look.
In addition to receiving email updates, investors browsing on Sundae’s Marketplace will also be able to see your house. When an investor logs in, they’re brought to their primary market. From there, they’ll see which property listings are active along with those that are coming soon. Similar to the email update, investors will see the same information at a glance, then click into the listing to learn more about your home.
Viewing a Listing
An intrigued investor will dig deeper into your house details to see if the listing works for them. Here, they’ll have a variety of information to look through and read more about. There’s a written description of your property that highlights the main features that appeal to investors.
The listing also shows other crucial information including:
- Basic information such as price, location, square footage, etc.
- Pictures of your house
- A 3D, virtual tour of the property
- An inspection report
- Floor plan
- Disclosures: these will be included during the property sale process. Each property and situation is different, so this may vary from house to house.
- Other highlights from the property. For example whether the property has an HOA or not, septic system, solar panels, and more.
Typically, the investor will look through these documents and crunch some numbers. If your house matches their criteria, they may decide to place an offer.
“What does it look like when they place an offer?” you might be wondering.
It’s as simple as entering the purchase price. Investors determine the purchase price they’re comfortable with based on the plan that they have for the property. For this reason, there may be a wide range of offers on your house.
Investors fill out a purchase and sale agreement form and send it through Sundae’s Marketplace. Keep in mind that there are likely multiple investors placing offers on your house, so at the end you will get to review all of these with your Market Expert.
While sellers can accept offers early, others wait the extent of the listing period to field offers. It’s usually at this point that you get insight into what investors offered. Keep in mind that you have no obligation to accept, but hopefully you get an awesome offer that makes you say “yes.”
At this point, the investor will be notified that their offer won. From there, you’ll both fill out paperwork associated with the closing process. Congratulations on selling!
A transparent process for sellers
We pride ourselves on transparency and guidance throughout the home sale process. As you go from one step to the next, we’ve got you covered.
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Kyle is Sundae’s Real Estate Editor. As both an investor and content marketing professional, Kyle combines his passion for real estate investing and educational background with his love of helping others. His experience with real estate tech companies, including contributing to BiggerPockets Pro, gives him insight into markets across the United States.