About the Sundae Companies
Thank you for your interest in Sundae (Sundae, Inc. and its affiliated companies listed below are collectively the “Sundae Companies”). The goal of this page is to provide details on our family of companies and the different ways you may interact with them, as well as disclosures that may be relevant to you.
The Sundae Companies shall disclose any and all affiliated business arrangements between the parties to sellers and buyers of real property at the outset of any real estate transaction.
Sundae, Inc., a Delaware corporation, is the owner, host, manager and provider of the website, https://sundae.com/, as well as any subdomains thereof, including but not limited to, https://marketplace.sundae.com/ (collectively, the “Site”). The Site is an online platform, also referred to as the “Sundae Marketplace”, which enables Site users to research, discover, apply for, communicate regarding, and (if approved) obtain real estate transaction products or services, and related products and services (offered and/or provided by a wholly owned subsidiary, Sundae Funding Inc., doing business as Sundae, a Delaware corporation, which holds a real estate brokerage license in multiple states as stated herein – as described further below).
Sundae Funding, Inc.
Any and all real estate brokerage services advertised, offered, performed or completed, through the Sundae Marketplace, or outside the scope thereof, are solely advertised, offered, performed, or completed by Sundae Funding, Inc., doing business as Sundae (“Sundae Funding”). Sundae Funding is a wholly owned subsidiary of Sundae, Inc.
Sundae Funding holds real estate brokerage licenses in the following states:
If any Site users of the Sundae Marketplace are residents of, or are looking to sell or buy real property in, a state where Sundae Funding is NOT currently licensed to perform real estate brokerage activities, please be advised that Sundae Funding is not authorized to offer or perform – and will not offer or perform – any real estate brokerage services. As such, the Sundae Marketplace, hosted by Sundae, Inc., is merely an online platform, which may be utilized by other real estate brokers, licensed in such states, to facilitate the listing or sale of real property for sellers and buyers therein.
Sundae Companies may act as principals engaged in the business of buying and selling real property for investment purposes. In addition to Sundae Inc., the company engaged in these activities is Home Love 3 LP, of which Sundae, Inc. is the Manager (and of which Sundae, Inc. is the sole member of its General Partner, Home Love 3 GP LLC). Home Love 3 LP also owns various property holding companies as part of these activities. We anticipate that in the future additional Sundae Companies or entities they control may engage in these same activities as well. We collectively refer to these companies as the “HomeLove Companies”.
Thus, Sundae, Inc. and/or the HomeLove Companies may advertise and/or present offers, including cash offers, to sellers of real property. Such offers may occur for properties whether or not currently listed on the Sundae Marketplace. Sundae, Inc. and/or the HomeLove Companies may repair or rehab, and/or resell any real properties purchased, and for a potential profit. These entities are NOT licensed to practice real estate and do not offer or perform any services requiring a real estate license on behalf of anyone, but are solely engaged as principals in connection with real estate purchase and sales activity. As a reminder – any and all services requiring a real estate license are performed by Sundae Funding. In addition, Sundae Funding may provide brokerage services in transactions involving Sundae, Inc. or the HomeLove Companies, to the extent permitted by applicable law.
Sellers who work with Sundae Funding and list their properties on the Sundae Marketplace grant permission to Sundae to require that all offers submitted by buyers through the Sundae Marketplace, and presented by Sundae Funding to sellers, shall include terms and conditions in accordance with the following requirements: (i) The sale of the Property shall be sold “as is” and not subject to any repair requests; (ii) Buyer’s offer to purchase the Property shall be “all cash”; (iii) The sale shall not include or be subject to any contingencies, including but not limited to, contingencies related to inspections, appraisals or loans; and (iv) The sale shall not include or be subject to any in-person showings or property inspections.
Notwithstanding the foregoing, in the interest of presenting all offers received by Sundae Funding to sellers, some buyers may submit offers which may include different terms than specified above. Sellers are advised that all terms and conditions are ultimately negotiable between sellers and buyers, and that sellers are not required to accept any offers submitted by buyers on the Sundae Marketplace.
Sundae Funding assists multiple sellers and buyers in connection with the sale and purchase of real property through the Sundae Marketplace, and/or outside the scope thereof. Any and all agency relationships shall be disclosed to sellers and buyers as required by state law.
As a condition of working with Sundae Funding and using the Sundae Marketplace to facilitate the listing and sale of real properties, Sundae Funding will request that buyers are responsible for the payment of Sundae Funding’s real estate compensation at the closing of the transaction.
In connection therewith, Sundae Funding reserves the right to charge different fees for its licensed activities (e.g., premiums, commissions), including discounted fees (or rebates), to different buyers (including, but not limited to, HomeLove Companies or other affiliated buying entities, as defined herein, who may be competing with other buyers, who may be represented by Sundae Funding, to purchase real properties listed on the Sundae Marketplace, or outside the scope thereof), and/or different sellers (including, but not limited to, HomeLove Companies or other affiliated selling entities, as defined herein, who may be selling properties listed on the Sundae Marketplace along with the properties of other sellers, who may be represented by Sundae Funding, or outside the scope thereof).
Notwithstanding, the amount or rate of real estate commissions is not fixed by law. They are set by each broker individually and may be negotiable between the seller and broker, or between the buyer and broker. Furthermore, sellers of real property listed on the Sundae Marketplace are advised that some offers submitted by buyers and presented by Sundae Funding to sellers, may include other proposed compensation terms, including but not limited to, requests for sellers to pay all, or a portion of, Sundae Funding’s compensation, and/or any other compensation due to another potential real estate brokerage(s) involved. Sellers are not required to accept any offers submitted by buyers on the Sundae Marketplace.
Real Time Offer Feedback
Sundae Funding notifies all buyers who submit offers via the Sundae Marketplace on listed properties whether they are the “highest offer” or “not the highest offer.” Further, on an ongoing basis, and until an offer has been accepted by a seller, Sundae Funding also notifies the top two highest offerors in connection with a listed property when either they are the highest offer or no longer the highest offer.
Sundae Companies do not provide legal, tax, or investment advice. Any published articles, blog posts, resources or other related material located on the Site is for informational purposes only. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. Please seek the advice of an attorney, tax professional and/or financial advisor for guidance to properly evaluate particular investments and/or strategies.
No warranties are made as to the accuracy of any descriptions of real property listings located on the Sundae Marketplace. Not all properties may be eligible for all services and/or products offered by Sundae Funding.
Should you have any questions about the roles and activities performed by any of the Sundae Companies, or the status of any relationship you may or may not have with them, please contact us at [email protected]