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Sundae Competitors
What is Sundae?
Sundae, also referred to as Sundae Homebuyers and Sundae Homebuyers with Heart, is a wholesale investment property marketplace that allows distressed sellers to compare cash offers from verified local fix and flip and rental property investors.
How much does Sundae charge?
Sundae's website says you (seller) pay "zero fees" and this can be considered misleading. Sundae charges an assignment fee to the buyer that submits the highest offer. From our research, this fee may vary by market and targets $30,000.
So, if you are selling your house in California and you receive an offer for $400,000 and the buyer pays an assignment fee of $30,000, in theory you could have received $430,000 if you could remove the assignment fee which is factored into the buyer's offer. In this example, that $30,000 assignment fee is effectively a 7% commission and a very real fee that cuts into the seller's net proceeds.
With OfferMarket, you can compare offers from verified buyers and if you choose to sell without our managed service (Co-Pilot plan), it's completely free. If you choose to use our managed service (Auto-Pilot plan), it's a 1% assignment fee. So if we use the same scenario, your purchase price would be $425,700. What could you do with the extra $25,700?
How does Sundae make money?
- Assignment fee
- Bridge financing (fix and flip loans)
- MLS listing once fix and flip rehab is completed
