Frequently Asked Questions

Getting started

What is Sundae?

Sundae is a real estate marketplace that gives property investors direct access to exclusive and highly vetted off-market investment properties. We are the only marketplace that sources properties directly from the homeowners so that investors can save time and money finding investment properties.

Where does Sundae currently operate?

See all locations. We are regularly expanding to other cities.

How much does it cost to join Sundae?

Our Essential membership is free to join at any time. As an Essential member you can place offers in 1 primary market and browse all active markets. If you wish to expand your business further Edge is our premium membership where you gain access to additional markets and features. Sign up today!

Can any property investor join Sundae’s marketplace and start investing?

Yes. Our marketplace is built to be intuitive and inclusive for property investors with any level of experience. We provide you with a dedicated Investor Advisor to guide you through all the steps leading up to making your first offer.

How do I join Sundae’s marketplace?

We offer a self service sign up option here. If you wish to opt out of self serve a dedicated Onboarding Advisor will be in touch within 24 hours to get you started. During the sign up process you may select an Essential, Edge, or Edge+ membership.

How do you source your properties? Are they exclusive?

We source our properties directly from homeowners who are motivated to sell in as-is condition. They’ve given Sundae exclusive rights to list the property on our marketplace. By joining Sundae’s marketplace, you’ll gain access to opportunities you will not find anywhere else.

What types of properties are available on Sundae’s marketplace?

We source properties from homeowners who want convenience and certainty in the home-selling process and want to sell as-is, whether they have a distressed home or are simply looking for the benefits of multiple property investors placing offers on their house. Most of these properties are single-family homes, but we often have other residential property types such as condos, townhomes, and two- to four-unit buildings.

Can I get guest access to the online marketplace?

You can learn about our Marketplace for Investors here. In order to join and gain access to the marketplace, you’ll need to sign up and complete our onboarding process. Sign up today!

Edge Membership

What is Edge membership?

Edge is a premium paid membership program that enables property investors to find, win, and close investment properties across the nation all from Sundae’s marketplace. Edge brings forth a set of premium and exclusive benefits that give property investors an upper hand in a competitive, supply crunched market.

What is the difference between the Essential, Edge, and Edge+ memberships?

The Essential plan allows you to browse properties in all markets, and place offers to purchase in your primary market. Edge allows you to purchase properties in up to 3 markets with additional features and access to our Sundae Funding+ feature. Edge+ has the same additional features as Edge with the added ability to purchase in markets nationwide. See our pricing page for all added features.

If I am an Essential member can I still access property listings in other markets?

Yes. As an Essential member you still have access to browse listings in all markets, however you will not be able to place any offers outside your primary market. If you wish to place offers outside of your primary market you can upgrade at any time.

How do I upgrade to an Edge or Edge+ membership?

If you are an existing member of Sundae’s marketplace, simply log in and navigate to your account settings. From here you can select Edge or Edge+ and which payment options you would like. If you are a new member you can choose your plan during your account sign up process. Upgrade today!

Which option is best for me?

When thinking about which premium membership option works best for you, remember one main difference is the number of markets you can purchase in. If you want to purchase nationwide, Edge+ may be best for you. If you only want to purchase in select markets, try Edge.

Are there certain requirements to upgrade to an Edge and Edge+ membership?

No. Edge and Edge+ is open to join for every investor on our marketplace. Sign up today!

Can I downgrade from Edge+ to Edge?

Yes. You can do so by changing your membership plan in Account Settings on the marketplace. The change will be reflected on your next billing cycle.

Can I cancel my Edge or Edge+ membership?

Yes. You can do so by navigating to your account settings. Canceled memberships will remain active through the time in which you have already paid and will not renew at the end of the paid period. You will be automatically downgraded to our Essential plan to place offers in your primary market.

How are markets determined?

Each market is defined by a set of zip codes. All major markets are fairly spread apart. For more information, visit our locations page.

Can I change my primary and target markets?

We understand your investment plans can change. If you are an Essential or Edge member you may change your markets once a year. Otherwise you can upgrade to our Edge+ plan for access to all available markets.

If I do not purchase any properties as an Edge or Edge+ member, do I get a refund?

No. Our memberships do not guarantee you will win a property. However, if you are a Edge or Edge+ member and are using Sundae Funding+ your offer will be shown to the seller with more enticing terms such as “expedited 5-day closing.”

Placing an Offer

What happens after I place my first offer?

Your dedicated Investor Advisor will keep you informed if yours is one of the top offers presented to the seller. If your offer is accepted, your Investor Advisor will guide you through the process of completing the purchase agreement and ultimately closing on the purchase of the house.

What are my agreed upon terms and conditions when placing an offer?

Non-contingent offers are required, so it’s important to complete your due diligence prior to placing your offer. If your offer is accepted, you will complete a purchase contract outlining the terms of the sale in writing. Buyers must use cash or hard money and are responsible for covering buyer and seller closing costs. The closing timeline will be dictated by the seller — it could be as fast as 10 days or up to 60 days.

What property information is available to me before I make an offer?

All properties on Sundae’s marketplace come with Minimum Listing Requirements to give you a comprehensive view of the property. Those details include:

  • Offer due date
  • Suggested price
  • Full address
  • Bed
  • Bath
  • Square footage
  • Year built
  • Delivered vacant or occupied
  • HOA (Y/N)
  • Solar (Y/N)
  • Feature image
  • Exterior photos
  • Matterport – Homeowner opt in
  • Google Maps preview
  • Floor plan ordered (Y/N)
  • Preliminary title report
  • Disclosures (Y/N)
  • Inspection ordered (Y/N)
  • Septic system (Y/N)
  • If there is a septic system we will deliver a Septic Report
  • In-person showings (Y/N)
  • Seller in possession until date
  • IA contact
  • Offer FAQ
  • Publish date
  • Estimated close of escrow date
  • Property status
  • Offer expiration date
  • EMD amount
  • EMD amount due date
Can I see the property in person before making an offer?

Most of our properties won’t have a showing since the Property Packet encompasses all of the details you need to complete your due diligence from your computer or smartphone. If you’re really interested in visiting the property, your Investor Advisor can try to arrange a showing with the seller on your behalf. However, you may miss out on the opportunity to submit an offer, because as other offers come in, the seller may accept one at any time.

When are my offers due?

Offers are due at 12 p.m. PST on each property’s offer deadline date that’s listed on the marketplace. However, we start presenting offers to the homeowner as soon as they come in, and homeowners can choose to accept an offer before the due date.

Can I place offers in multiple markets?

As an Essential member you only have access to place offers in your primary market. If you wish to place offers outside of your primary market simply upgrade to our Edge or Edge+ membership.

How and when will I know if my offer was accepted?

Sellers generally have four business days to accept an offer, but we typically see them accepting sooner than that. Your investor advisor will contact you if your offer is one of the top offers. You will not receive a notice of rejection if your offer is not accepted.

How do I know if my offer was submitted? How do I know if the seller received my offer?

Upon offer submission, you will see a confirmation screen. To track your offers submitted, navigate to the ‘Your Offers’ dashboard from the profile dropdown menu on the top right hand corner.

Your dedicated Investor Advisor will contact you if the seller chose your offer, or if there’s an opportunity to make a best and final offer to break a tie. If your offer is chosen by the seller, your Investor Advisor will go over the offer details and send you a Purchase Agreement for signature.  Once all parties have signed, you’re officially under contract, at which point you will be expected to wire your Earnest Money Deposit within 48 hours.

Can I revoke or change my offer once placed?

Yes, you can change or revoke your offer if the offer period has not ended (or if the seller has not accepted it). To increase your offer, simply enter in your new offer amount, and the system will update to the most recent offer for that property. To revoke your offer or decrease your offer amount, please contact your Investor Advisor prior to the end of the offer period.

Is there a possibility the seller will not accept the top offer?

Yes, a seller is under no obligation to accept any offer they receive.

Am I able to see the offers from other property investors?

No. All of the offers are confidential, so it is important to place your most competitive offer from the beginning. You do not have visibility to the number or amount of the other offers.

What about seller counter offers?

In some instances, there may be a request for final and best offers from the top few offers, but it’s important to put your best foot forward from the beginning so you have the best chance at winning the property.

Can I skip the offer process and just "buy it now?"

Only Purchase Direct properties have this option. These are indicated by a visual indicator next to the property in the marketplace.

Can you send me emails for certain counties/buying criteria instead of all properties in that city?

Yes! In order to receive custom notification please update your Buy Box criteria found under your Account Settings.

How do I update my buy box?

Go to your Account Settings. Click on Buy Box. Update your preferences so we can help you find the properties you are most interested in.

When will you have more properties that fit my buy box?

Thank you for sharing your preferences! We are working diligently to add more properties that meet the buying criteria of our investors. We add new properties daily and will highlight any that meet your criteria in our daily property packet emails.

Purchase Direct

What is a Purchase Direct property?

A Purchase Direct property is an opportunity that you can purchase at a set price the seller is most comfortable selling the property for.

How does it work?

Locking down a Purchase Direct property is easy. See a property you like and love the set price, too? Simply be the first to click on the Purchase Direct button in the Marketplace and you will have the opportunity to purchase the property without any competition. Once you place your offer, we will get final confirmation from the seller.

Who can use Purchase Direct?

Purchase Direct is open to all Sundae Essential, Edge, and Edge+ members.

How do I know which property qualifies for Purchase Direct?

Purchase Direct properties have a visual indicator badge on the opportunity. The property details page also features a Purchase Direct button.

How will I get notified of Purchase Direct properties in my market?

Investors will be notified of new Purchase Direct properties for their specific market(s) 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 for your specific market(s).

What happens when multiple people click on the same Purchase Direct property?

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 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.

Financing your investment

Can I use a conventional loan to finance the property?

Sellers on Sundae’s marketplace often expect closings in under 30 days with no contingencies or access, which are features that won’t work for most conventional loans. However, some sellers may accommodate these terms. Contact your dedicated Investor Advisor to discuss your financing when you’re ready to submit an offer on a property.

Does Sundae provide financing?

Yes. Sundae’s lending service offers investors low, competitive rates and a quick pre-approval, underwriting, and funding process. Sundae funding is also available for properties sourced outside of Sundae’s Marketplace. To learn more about our lending programs, reach out to your Investor Advisor or email [email protected].

Sundae Funding+

What is Sundae Funding+?

Sundae Funding+ is a feature available to Edge and Edge+ members that guarantees a 5 day close and waives off late fees due to financing delays.

Where does Sundae provide lending services?

Sundae Funding, Inc. currently offers lending or loan brokering services in California, Washington, Colorado, Georgia, Florida and Texas. For more information, please email [email protected].

Do I get access to Sundae Funding+ as an Essential member?

Essential members have access to our lending services offered by Sundae Funding, Inc. However, Sundae Funding+ is a feature that is only available to our Edge and Edge+ members. If you would like access to Sundae Funding+ you can upgrade at any time.

How do I utilize Sundae Funding+?

As an Edge or Edge+ member you have access to all of our Sundae Funding+ features. If you have additional questions throughout the process your dedicated Investor Advisor can assist you.

Pricing, Payments, and Closing Costs

What costs am I responsible for when I buy on Sundae’s marketplace?

The buyer is responsible for all closing costs and fees. This includes buyer and seller escrow fees, the Sundae Buyer Premium, a $1,000 Admin Fee, and a $250/day fee for late closings (if the delay is at your request). The Sundae Buyer Premium is included in your offer and varies by purchase price and the market. Your dedicated local Investor Advisor can help you with the buyer’s premium in your market once you’re onboarded.

When I place an offer, should I account for Sundae fees?

No, we deduct fees from your offer to show the seller a net price.

How much are closing costs typically?

Closing costs are standard, but they vary deal by deal (county by county). The title and/or escrow company involved can give you a better idea of closing costs for each property.

How long is your closing process?

Our average close is 30 days, but it varies at the seller’s discretion: as fast as 10 days or up to 60 days. We provide the COE (Close of Escrow) date in advance when a property is listed on our marketplace.

Is there an EMD (Earnest Money Deposit) required? How much is it?

Yes. Accepted offers require an EMD that is credited towards the purchase. The EMD amount for each property is shown on the offer confirmation screen. For any questions, please contact your dedicated local Investor Advisor. Earnest Money will be deposited with the escrow or title company.

When is the EMD due?

The Earnest Money Deposit is due within two business days of signing a Purchase and Sale Agreement.

Is the EMD refundable?

The EMD is a sum of money provided by the buyer to the seller as a good-faith gesture to demonstrate the buyer's serious intent to purchase the property. The earnest money deposit is credited towards the purchase. However, if the sale falls through due to reasons beyond the buyer's control, the EMD may be returned to the buyer. Alternatively, if the buyer defaults on the transaction, the EMD may be forfeited to seller as compensation for damages incurred.

If I make the highest offer, does this mean I’m in escrow to purchase?

Not yet. You will work with your Investor Advisor to complete a purchase agreement only if your offer is accepted. Once all parties have signed the agreement, you’re officially under contract and in escrow. A copy of the fully executed contract will be emailed to you with wire instructions and escrow information.

Do I have contingencies?

All offers are non-contingent. The closing timeline will be dictated by the seller — it could be as fast as 10 days or up to 60 days. Properties on the marketplace are sold in as-is condition and will have a target closing date listed on their Property Profile, so you’ll know an estimated timeline before placing an offer.

When can I take possession?

If your property is vacant, you can take possession as soon as the property is funded and recorded with the county. This is typically completed within 24 hours after signing closing documents with the title or escrow company. If your property is occupied, the possession date will be agreed upon and outlined in your purchase agreement.

Will my property be delivered vacant?

Not all properties are delivered vacant. There are circumstances where the seller will need additional time in the property after closing to make moving arrangements and gather their belongings. These timelines are always mutually agreed upon and determined prior to signing the purchase agreement. Properties can also be sold as tenant occupied, and the existing lease agreement would transfer over to you upon the close of escrow.

The property page will indicate if the property is delivered vacant or occupied.

Who is responsible for Solar lien/lease?

Properties with solar panels will be handled on a case-by-case scenario. It will depend on how the solar panels were purchased, and the current terms with the solar company. The details will be communicated and outlined in the purchase agreement prior to finalizing a purchase.

Membership Payment and Pricing

Do you offer a free trial of Edge?

You can access the Essential plan for free at any time in your primary market. If you wish to expand markets, simply upgrade to Edge or Edge+ and you will have access to additional markets and features.

How much do memberships cost?

The Essential plan is free to join. The Edge plan costs $199 a month. The Edge+ plan costs $499 a month. For more information on annual savings and plan details, please visit our pricing page.

Are there monthly and annual payment options?

Yes. We offer both monthly and annual options. You receive 20% in savings with our annual option.

Do you offer any discounts?

Yes. For our members who pay annually we offer 20% in savings. Be on the lookout for seasonal promotions.

Is a credit card required to pay?

Yes. We accept all major credit cards as a form of payment at this time.

How is my payment being processed?

We use Stripe, a secure third party payment processing platform, to process payments.