How do you find the investors that submit offers in your database?
The investors that make offers within our Redwood Offers database were either found through their submission of an inquiry on our investor page or through traditional networking. We require proof of funds and lender approval to be submitted with all offers and we share this information with sellers prior to their acceptance of a Redwood Offer. We’ll also share information and reviews from previous sellers in presenting each offer in the program.
Can I work with Redwood Offer if I have my home listed with a company other than CENTURY 21 Redwood Realty?
No. Our platform is designed to work exclusively with CENTURY 21 Redwood Realty agents.
Can I still sell my home if you do not present me with a Redwood Offer?
Of Course! Even if none of our investors are interested in submitting an offer to purchase your home, we will provide you with a comparative market analysis (CMA) and review pricing options in conjunction with our Redwood Listing process.
How does Redwood Offers work?
One of our agents will visit your home to compile an accurate picture of your home that we can share with our qualified investors, who will have 48 hours to submit an offer. A few days later, an agent will return to your home to review any submitted offers and provide an analysis of how these offers compare to selling it on the open market. Should you accept a Redwood Offer, an inspection will be done to verify the property’s condition and then, provided there are no issues, you will be scheduled to close on the sale of your home within 21 days.
What types of homes does the Redwood Offer program work with?
While we can attempt to generate an offer on any property in our current service areas with fee simple or condominium ownership, we believe our model works best with homes with public sewer and water access, on 1 acre or less of land, built after 1950 and valued within 20% of their median sales price within their zip code (on the high side).
Do the owners or agents of CENTURY 21 Redwood Realty or of an affiliated company make offers through the Redwood Offers program?
Sometimes. While our initial vision is for home sales that take place within our Redwood Offers system to be conducted predominantly with investors who are not affiliated with our brokerage, to provide additional liquidity upon launch, we are currently permitting affiliated investors to make offers within our system. Any affiliations with owners or agents of CENTURY 21 Redwood Realty will be disclosed upon the presentation of a Redwood Offer by your agent.
How is the offer price(s) for my home determined?
Our investors set their own offer terms. Some use algorithms, some use a combination of technology and local knowledge, and others have been buying in our local market for so long that they "just know". In the end, market forces will help maximize your proceeds!
Are contracts derived from a Redwood Offers program assignable to other purchasers?
Contracts submitted by an affiliated investor are assignable to other purchasers, provided the assigned price is not higher than the price stated in your signed contract. We will never make additional profit by selling our contract to a higher bidder, but for the purpose of retaining capital for the purchase of additional homes, our affiliated investors may find it advantageous to have an alternative investor make the investment. Contracts submitted by non-affiliated investors are not assignable.
How much do you charge for Redwood Offers?
Our fee for selling your home through Redwood Offers is no different than the fee we charge sellers who use our Redwood Listings process: 6% of the final purchase price, plus $200. An interested investor could prospectively request an additional fee, which will be disclosed upfront.
Are offers made through Redwood Offers negotiable?
In submitting their offers, investors will stipulate whether they will consider a counter-offer.