How Sundae Cash Advance Works
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.
After you sign the Purchase Agreement, your Closing Manager will send the agreement to the Escrow Company within one (1) business day and notify you when the Escrow is open.
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.
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.
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.
Congrats! Once Escrow receives the final paperwork, you are now eligible to receive your Cash Advance.
Any funds you may receive through the Cash Advance are part of, and not in addition to, your Sale Proceeds. Cash Advance is not currently available for tenant-occupied properties.