As a real estate agent, the current low inventory of available houses can be a challenging terrain to navigate with buyer-side clients. Redwood Cash Buyer was created to help buyers win the best possible terms, even when they use mortgage financing.
What is Redwood Cash Buyer?
Redwood Cash Buyer is an innovative tool designed to empower homebuyers in a competitive real estate landscape. It’s a partnership between Zavvie and CENTURY 21 Redwood Realty agents that provides clients with the leverage of a non-contingent cash offer. In essence, Redwood Cash Buyer hands your clients the “king” – cash, giving them a competitive edge in multiple offer situations or the potential to save off list price in non-competing scenarios.
What Kind of Clients Is Redwood Cash Buyer Designed For?
Redwood Cash Buyer is a versatile tool tailored to fit a range of clients, from sellers facing multiple offer situations to buyers who need to sell their current home before purchasing a new one. The real estate market is rife with multiple cash offer situations due to low inventory, a challenge Redwood Cash Buyer adeptly addresses.
If a client has a home to sell, they can use the Modern Bridge solution to avoid the inconvenience of short-term living arrangements or multiple moves.
What’s the Difference Between Cash Buyer and Modern Bridge?
Cash Buyer is designed for clients who are buying only and can secure their mortgage financing without needing to sell a previous residence. These clients might be first-time buyers, renters, or those looking to invest in a property. The cost for this service is 1% of the new home purchase.
Modern Bridge is designed for clients who need to sell their current home before they can secure mortgage financing for their new home. This service costs 1.9% of the purchase price due to the additional risk of selling the former residence.
The common denominator, however, is that on the buying side, every client is a cash buyer.
Please Describe the Redwood Cash Buyer Process for Consumers.
All that a CENTURY 21 Redwood Realty agent has to do to initiate the process is connect their client with an Atlantic Coast Mortgage Loan Officer to initiate the process. After receiving conditional underwriting from Atlantic Coast Mortgage, the Redwood Cash Buyer team checks the basic requirements and pre-funds the client to write a cash offer when needed.
For Cash Buyer clients, the offer is written in their name with a backup offer from Redwood Cash Buyer guaranteeing a cash purchase if the client cannot close with financing on closing day. Once the offer is accepted, a 1% deposit is due within 48 hours, and the client can proceed with the standard transaction process.
For Modern Bridge clients, Redwood Cash Buyer buys the home and reserves it for the client. After a successful cash offer, a 2.5% deposit (or 4% for homes over a million dollars) is due within 48 hours. The client can move into their new home on closing day, sell their old home, and then buy back their new home from Redwood Cash Buyer.
How Can Someone Get Started?
Starting the process is as simple as reaching out to your Atlantic Coast Mortgage Loan Officer. Let them know your client’s situation, and they can set everything in motion, including sending the necessary information to the Redwood Cash Buyer team. The focus here is on facilitating a smooth, efficient process for both the agent and the client.
In conclusion, Redwood Cash Buyer presents an effective solution for real estate agents seeking to bolster their client’s buying power in a challenging market. For agents with CENTURY 21 Redwood Realty, make it a point to discuss the benefits of Redwood Cash Buyer with your Atlantic Coast Mortgage Loan Officer. If you’re not with CENTURY 21 Redwood Realty but want to help your buyer-side clients win more listings, complete the form below to learn more about joining our dynamic team. Empower your clients, and ensure they never lose out on their dream home again.
Use Redwood Cash Buyer to Help Your Clients Win Their Dream Home!
This program is only available to CENTURY 21 Redwood Realty agents. If you’re with Redwood, please contact your Office Leader for more information. If you’re licensed with a different company and would like to learn more, please complete this form and a member of our growth team will be in touch.
