If you’re selling a house, you probably have a lot of questions. Here are some of the most common ones people ask us. If you have additional questions, we’d be more than happy to answer them. Give us a call at 800-214-4426 or send us an email at [email protected]
What is Sundae?
Sundae is the only marketplace connecting home sellers with a large network of local investors, ensuring that homeowners get the highest possible off-market price for their home. Instead of talking to multiple investors to find the right buyer, Sundae does the hard work for homeowners by getting their property in front of hundreds of qualified local investors, ensuring you sell your property for the maximum amount investors are willing to pay. We help homeowners get the best outcome when it’s time to sell.
How is Sundae different? Why do customers choose Sundae over other flippers, property investors, and cash buyers?
Everyone else out there is an individual homebuyer. Sundae, on the other hand, is a marketplace with hundreds of such buyers. Flippers, property investors, and cash buyers will bring you a single offer based on their opinion on what your house is worth. Sundae will bring multiple cash offers to you by advertising your property to hundreds of investors who compete to buy your house.
Customers choose Sundae over other individual investors or flippers for two reasons. The first one is having peace of mind that they got the best price possible. The second is the simplicity and ease of getting free, no-obligation cash offers from multiple investors through a single point of contact. Unlike other homebuyers and investors, we represent you in the transaction with fiduciary responsibility, meaning we will act in your best interest the entire time.
Customers also love that Sundae will be the only one to set foot in the property, saving homeowners the hassle of multiple showings. In addition, we offer a $10,000 cash advance in certain circumstances and offer flexibility in moving.
Where does Sundae operate?
Sundae currently operates in San Diego County, Riverside County, San Bernardino County, Los Angeles County, Sacramento County, Atlanta Greater Metropolitan Area, Tampa Bay Greater Metropolitan Area, Salt Lake City Metropolitan Area, Jacksonville Metropolitan Area, Oakland Metropolitan Area, Dallas Metropolitan Area, Houston Metropolitan Area, Denver Metropolitan Area, San Antonio Metropolitan Area. We are planning to expand to other cities in the near future. Learn more.
What fees do I pay when I sell to Sundae?
None! There are zero costs to work with Sundae. The home visit, access to our marketplace, and the offers you receive through Sundae are free and there is no obligation to accept one. If you decide to sell, there are no closing fees or commissions. We even cover the cost of the full home inspection which happens after you sign our marketplace agreement.
How do I know I'm getting the highest possible price for my house?
The Sundae marketplace creates competition among investors bidding on your home, thereby ensuring that you receive the highest offer an investor is willing to pay. Our local Market Experts and Investor Advisors prepare an extensive marketing package allowing our investors to aggressively bid on our marketplace.
Since each investor may have a different opinion about the value of your house, the large size of our marketplace helps you receive offers from multiple investors. We’ll present the top three offers and let you pick the highest one. For context, the average number of offers a house gets on our marketplace is 10. The average difference between the lowest and highest bid on our marketplace is $71,000. Why let just one or two investors determine the value of your house? With Sundae, you will get cash offers from multiple investors and have peace of mind that you got the best price possible.
How many investors are part of the Sundae Marketplace?
We’ve more than 2600 qualified and vetted property investors in our marketplace, and we’re continuing to add more. Interested investors can join our marketplace by visiting investor.sundae.com
Interested investors can join our marketplace by visiting investor.sundae.com.
How is Sundae's marketplace different from the MLS?
The MLS is primarily known for houses that don’t need updates or repairs. Think of Sundae’s marketplace as an MLS for houses that need updates or repairs, but without all the hassle of multiple showings, talking to multiple buyers, request for repairs and paying agent commissions. For far too long, homeowners looking to sell their house in an as-is condition have been taken advantage of. Many predatory off-market buyers offer the lowest possible price because every dollar they don’t give to the homeowner goes into their pocket. Homeowners looking to sell as-is will generally talk to one or two investors and end up receiving low ball offers . Sundae’s marketplace creates investor competition similar to the same competition level that houses in good condition see on the MLS. Instead of talking to one or two investors, Sundae puts your property in front of hundreds of investors. We are different from MLS in that we help you sell your house off-market in as-is condition without any showings or fees, but we are similar to MLS in that we create competition for your house so that you get the highest price possible.
How does Sundae make money?
We charge a fee to the investor. This fee is collected separately from the offer presented to the homeowner. The amount of the fee is always disclosed on the Purchase Agreement the investor submits to the seller. Higher the price you get for your home, the more money we make. Our incentives are aligned with getting homeowners the best offer possible!
What do Sundae customers have to say about their experience?
Our customers give us great reviews. In fact, we have an average of 4.7 stars out of 5 across multiple reviews platforms, including Yelp, BBB, Google, and Reviews.io. The feedback we see in those reviews highlights a sense of trust, the friendliness of the team, and that Sundae puts the customer’s interest first. But don’t take our word for it, check out our Reviews page.
We’ve also received a few positive reviews from non-customers who appreciate our helpful, transparent approach and how we advised them on other options that were better suited for their situation. You can read more customer stories here.
Is Sundae considered an iBuyer?
Sundae is different from iBuyers in two important respects.
First, we help owners sell houses in any condition and offer convenience throughout the process. In contrast, most iBuyers offer the convenience of selling without an agent, but they typically won’t purchase properties in need of a lot of renovations or repairs.
Second, most iBuyers provide an offer before seeing the house, which means the price almost always changes later on. Sundae won’t give you an offer commitment until our local Market Expert has viewed the house, a home inspection has been completed, and we have a list of cash offers from our marketplace of investors. We believe in certainty and reliability, especially when it comes to the terms of selling your house. That’s why our process ensures that when you accept an offer, it won’t change later. All offers via our marketplace are non-contingent. Sign one and you’re done! We also pay all fees and closing costs, while most iBuyers have fees associated with a transaction.
How would you define a house that needs updates or repairs?
When we say “houses that need updates or repairs,” we typically mean older houses that haven’t been remodeled in 20 or more years, require substantial repairs to the structure or major systems (roof, plumbing, electrical or foundation) that aren’t functional, or contain materials that are not up to code or have been proven to be unhealthy. Don’t get us wrong. We LOVE the beautiful mid-century features that many older homes still have. That’s why Sundae prioritizes preservation whenever possible. Some outdated houses need a little TLC before the average buyer would consider purchasing and/or obtain traditional financing for the purchase.
Why sell off-market?
Many of the homeowners we help don’t want to or aren’t able to get their house market-ready due to the time and cost required. Many do not want to deal with stresses that come with paying for and conducting an appraisal, doing research on local market conditions, or they aren’t sure where to begin when drafting a construction budget to get their home to top of market condition.
We are fully transparent in providing our resale valuation report, estimated scope of work, other comparable properties purchased by our investor database on and off the market and any other factors that might affect the sale of your home. It is our mission to empower the homeowner and advise them on the best option for selling their home. If that means selling off-market, we’ll find you the highest price through our marketplace.
Read more: How to Decide if Sundae Is Right for You
How does your process work?
The first step is to speak to one of our Customer Advisors. They will gather information about the house and your needs and explain how our process works. If Sundae is a fit, we’ll schedule an appointment for one of our local Market Experts to conduct a free, no-obligation home assessment, after which you can sign an agreement to use our marketplace. Don’t worry, it doesn’t mean you have to accept an offer. We’ll then prepare a digital Property Profile that will let hundreds of investors consider putting in an offer without ever setting foot in your house. Your digital Property Profile will include all the details about your house, such as professional photos, a high-quality virtual tour, a home inspection report, and a floor plan.
Investors will then compete and bid on your house. We’ll bring the highest offers for your review four business days after the inspection is held and we receive your disclosures.
Throughout the process, Sundae is the only one to step foot in your property. You don’t have to deal or talk with any property investors.
What terms do your offers come with?
All offers in our marketplace are non-contingent cash offers in as-is condition. When we say as-is, it really means as-is. No cleanings, repairs, or updates required. The offer is the final amount you will get, minus any mortgage and other liens you may owe on it. You don’t pay any fees or commissions to Sundae or to the investors who purchase your home.
Do you pay cash generally for the homes you buy?
All the offers through Sundae marketplace are non-contingent cash offers, but the key benefit is that we help you sell the house “AS IS” , at the highest price possible and in as quickly as 10 days. In other words, the seller doesn’t have to deal with the time, money, or hassle of any work to sell the house. No cleaning, repairs, showings, or people walking through the house.
What is contained in the Property Profile Sundae prepares for my house?
Sundae invests significant time and money into your Property Profile so that investors have all the information they need to make their highest and best offers. We order and pay for a home inspection, a preliminary title report, a 3D matterport home tour, and a floor plan, all of which are included in your Property Profile. We also include standard real estate disclosures that each seller needs to complete before going live on the Marketplace.
Can I have a copy of the reports you prepare regarding my property?
Absolutely. We’ll send you a copy of your Property Profile where you can download any of the reports you would like.
Does Sundae have to come visit the property in order to make an offer?
It is Sundae’s policy to see every house in an in-person visit before making an offer. However, due to concerns surrounding the COVID-19 pandemic, in some cases we may be able to conduct a virtual tour.. You can speak with your dedicated customer advisor to discuss a virtual tour.
Will you also list my property on the MLS in addition to the Sundae marketplace?
No, we do not offer the option to list your property on the MLS at this time. The MLS is primarily known for houses that don’t need updates or repairs. Listing a home on MLS typically requires you to spend time and money on repairs and pay agent commissions. Sundae specializes in getting the highest price possible for houses that need updates or repairs, for zero fees and without any hassle.
How long does it take to get an offer?
We will provide final cash offers four business days after a home inspection takes place and we receive your completed seller disclosures. During these four business days, property investors in our marketplace will bid on your house so that we can bring multiple non-contingent cash offers to you, and you can pick the highest offer.
How long can I take to consider offers?
Offers are valid for three business days and then must be accepted or rejected.
Do I get to review all of the offers I receive on the marketplace?
You are welcome to review all of the offers for your property. Typically homeowners request that the Market Experts only review the three highest offers. With a large number of offers and a wide range, if you don’t want to see each of them, you will get a summary of all your offers in writing and can be viewed on your personalized listing page.
What is considered a fair offer for a house?
Compared to what properties sell for on the MLS, an off-market offer for your house may appear low. But MLS prices do not take into account repairs, closing costs, agent commissions, transaction fees, and holding costs incurred during the time it takes to sell a house on the market. Consider the following scenario, based on a typical off-market sale:
A weathered house with structural issues that hasn’t been updated in years may sell on the MLS for $525,000 assuming it receives a full remodel. The owner also has the option to sell that same house off market in as few as 10 days for $355,000. At a glance, the MLS price makes the off-market offer look ridiculous. Easy decision for the seller, right? Maybe not.
A conservative estimate to sell the house on the MLS would require $90,000 to remodel it, $32,000 in agent commissions, $11,000 in closing costs, $4,000 in interest on the loan for repairs, and around $20,000 in holding costs (mortgage, taxes, insurance) for the months it will take to repair and then sell the house. After accounting for these expenses, the seller would net $368,000 after a six-month odyssey, which comes with its own set of risks, stresses, and daily challenges.
This is a lot for the seller to endure to pick up an extra $13,000. And that assumes everything goes smoothly and the market doesn’t shift in the meantime. The off-market route may not make sense for every homeowner, but before deciding on what constitutes a “fair offer,” sellers should always take into account net proceeds from a home sale.
How does the closing process work when you sell to Sundae?
You have enough to handle with moving, so Sundae makes everything else easy! That means we handle the closing process with minimal need for you to get involved. Sundae will assign you one of our dedicated Closing Managers. The Closing Manager will talk you through the steps in the process and work with you to resolve any issues that arise. In most cases, all you’ll need to do is sign some paperwork and cash your check. We take care of all of the details with escrow, title and the investor purchasing your property during the closing process.
How fast can you close?
10 days after you sign a marketplace agreement. If you need more time before vacating the house, you can take up to 60 days to close.
When do I get the $10,000 Cash Advance?
Sundae is pleased to offer Qualifying Sellers a cash advance on the Sale Proceeds of your home of up to ten thousand dollars ($10,000) through our cash advance program (“Cash Advance”). If you are interested in applying for a Cash Advance, please let your Closing Manager know as soon as possible. They will let you know if you qualify and try their best to expedite the process as fast as they can for you.
PLEASE NOTE: Any funds you may receive through the Cash Advance are part of, and not in addition to, your Sale Proceeds.
Here’s how it works:
Step 1: After you sign the Purchase Agreement, your Closing Manager will send the agreement to the Title/Escrow Company within one (1) business day and notify you when the Escrow is open.
Step 2: Once Escrow is open, the Escrow Company will request the Buyer’s Earnest Money Deposit and send the Escrow Instructions to you and the Buyer to sign. The Escrow Company must receive fully executed Escrow Instructions and the Earnest Money Deposit to move forward.
Step 3: As soon as the items in the Preliminary Title Report have been reviewed (no action needed on your part), the Title Company will confirm if the sale is ‘clear to close’ and if there are sufficient Seller Proceeds to cover the Cash Advance.
Step 4: If all checks out, the Escrow Company will then send over an Estimated Closing Statement for you to review electronically, or a hard copy can be delivered to your home.
Step 5: Congrats! Once Title/Escrow receives the final paperwork, you are now eligible to receive your Cash Advance.
NOTE: Cash Advance is not currently available for tenant-occupied properties.
Can I live in the house after I sell it to Sundae if I am actively looking for my next home? If yes, for how long?
One of the advantages of working with Sundae is the flexibility we offer. You can live in the house for up to 30 days after you close, for no additional cost. This requires a portion of your proceeds held with escrow until the property is confirmed vacant. We recommend that you tell us about your situation in advance so that we can make the investors on our marketplace aware of it before they make a non-contingent offer on your house.
Sundae also offers a flexible closing date. You can close in as little as 10 days or take up to 60 days.
We want to make this as easy as we can for you. Please discuss your situation with your dedicated Customer Advisor or the Market Expert who will visit your house, and they will be happy to guide you.
Do I have to dispose of everything that is left behind and clean the apartment or reimburse the investor for those expenses?
Our investors buy the property in an as-is condition, which means no cleanings or repairs are required on the property. You are allowed to leave as much personal property as you want and will not be responsible for any expenses. Selling through Sundae is completely free of cost.
How do you vet the investors on your marketplace?
Each investor must first agree to the Terms & Conditions of our marketplace before undergoing an interview with one of our Onboarding Advisors, where they are expected to provide previous investment experience, and details pertaining to their specific criteria. We develop a comprehensive profile for each investor to better facilitate the needs of each seller in the marketplace.
Will investors on your marketplace understand the nuances of my neighborhood and community?
Not all investors have the same experience. Some may have purchased properties in your neighborhood before, while others might be considering it for the first time. With our marketplace you gain access to them all, so that you can rest assured that your property matches with the right investor at the best price possible!
Will the investors have my contact information? Will they be calling me?
No. We will not share any of your contact information with the investors on our marketplace. We will bring all the cash offers directly to you without you having to talk to multiple investors.
Why should I use the Sundae marketplace instead of calling investors myself?
We advertise your property to a database of hundreds of local property investors. This level of competition drives up prices and gives you confidence that they got the highest and best offer from each bidder. All offers via our Marketplace are non-contingent, meaning you’ll never have an investor walk their price down after you accept their offer. This tactic is unfortunately all too common among off-market cash offers and is something our platform eliminates. By working with Sundae, you will also save a lot of time. Imagine having to deal with multiple showings, answering the same questions and repeating the same process with multiple buyers. Sundae is the only one to step foot in the property and your only point of contact.
Do I have to agree to doing an investor showing?
No, you will receive offers after investors have reviewed the materials posted on our digital platform. However, many sellers decide to hold a brief one-time investor showing in order to drive up the number and price of their offers. This is something you and your Market Expert can discuss together and decide how to proceed.
Can I see the list of investors you’re marketing my property to?
We do not disclose the full list of the investors in our marketplace. You will see the name of the investor who is making each offer when you review your top offers.
I’ve already received an off-market offer from an investor. What do you recommend?
Refer them to Sundae’s marketplace! This puts them in competition with hundreds of other investors, which is a good strategy for driving up price. Sundae will market your property to more investors than one person could contact by themselves.
Feel free to discuss your situation with your dedicated Customer Advisor or Market Expert and they can guide you.
What Our Customers are Saying
San Diego, CA
“Liked the option of having multiple offers at one time.”
San Diego, CA
“Was really cool to see a pool of buyers bid on my home.”
“ Things turned out great.”
San Diego, CA
“This company is legit.”
“I was somewhat baffled at how easy it was.”
“I couldn’t recommend you enough!”
Inland Empire, CA