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Industry Updates
SUNDAE LAUNCHES
PLATFORM FOR PURCHASING
DISTRESSED PROPERTIES
Sundae, a residential real estate
marketplace built to assist sellers of damaged
property get the best price for their home,
has launched its digital platform for property
investors to view available properties, submit
offers, and streamline transactions. Sundae's
platform for investors which can be found
at Sundae.com/investor provides access
to exclusive and vetted properties sourced
directly from homeowners looking to sell to a
cash buyer.
Properties available on Sundae's platform
come with a comprehensive property
profile that includes photos, floor plan, 3D
walkthrough, disclosures, preliminary title
report, and a third-party inspection report.
"I know first-hand the challenges that
come with being a property investor. We've
built our platform to make it easier than ever
for property investors to succeed," said Josh
Stech, Sundae Co-Founder and CEO. "We
remove the burden of finding and vetting
properties so investors can focus on what
they do best—renovating houses, improving
communities, and creating something great
for a new family to call home."
Since launching in 2019 in California,
Sundae has expanded to more than 15
markets nationwide, with plans to open in
several new markets before the close of 2021.
Sundae recently received $80 million
in Series C funding, investing heavily in
marketing to homeowners who are looking to
sell off-market, thus offers property investors
a growing supply of inventory to deploy their
funds when ready to buy.
"e comprehensive information
packet that comes with properties on
Sundae's marketplace lets investors analyze
the property from their desk and make a
confident offer, sight unseen. For example,
a property investor living in Utah can find,
evaluate, and purchase a property in Tampa
just in a few clicks through our platform," said
Madhav Ranjan, Sundae SVP of Engineering
and Product. "We're seeing a huge number of
buyers on Sundae's platform investing outside
of their primary market because they no
longer have to travel to do the due diligence
in-person. In fact, nearly 40% of investors
on our platform have purchased a property
through Sundae outside of their primary
market."
