Investor: Frequently Asked Questions 

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    Getting started

    Placing an Offer

    Financing your investment

    Paying fees & closing costs

    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.

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

    It’s free to join Sundae’s marketplace and browse investment properties across the nation. Sign up today!

    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.

    All you need to do is complete the signup process here, and an Onboarding Advisor will be in touch within 24 hours to get you started. 

    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.

    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 — what we like to call a home that needs love — 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.

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

    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. 

    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.

    Most properties on Sundae’s marketplace come with a digital Property Packet that lets you view photos, floor plans, 3D tour, disclosures, inspection reports, and preliminary title reports. Note that this information may vary from property to property.

    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.

    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.

    Yes. You can place an offer on any active home in any market that is listed on the marketplace. Your Investor Advisor can also set up listing alerts for multiple markets through your email.

    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.

    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.  

    Yes, you can change or revoke your offer if the seller has not accepted it. To change your offer, simply enter in your new offer, and the system will update to the most recent offer for that property.  It’s always good practice to notify your Investor Advisor of the change if this situation arises. To revoke an offer, please contact your Investor Advisor.

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

    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.

    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.

    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.

    No, Sundae does not provide financing options at this moment.

    The buyer is responsible for all closing costs and fees. This includes buyer and seller escrow fees, the Sundae Buyer Premium, a $500 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.

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

    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.

    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.

    Yes. Accepted offers require a non-refundable 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. 

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

    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.

    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.

    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.

    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.

    Homes 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.