No. A buyer’s purchase of their “new home” from Redwood Cash Buyer is not contingent on anything. In the same light that Redwood Cash Buyer’s contract to purchase the home from the seller is not contingent on appraisal or mortgage approval, the buyer(s) contract with Redwood Cash Buyer is fully non-contingent. Before Redwood Cash Buyer… Continue
The full steps of a completed Redwood Cash Buyer program look like this- Buyer(s) receive TBD Underwriting approval from Day 1 Mortgage Buyer(s) receive pre-funding status from Redwood Cash Buyer Redwood Power Buyer submits a cash offer, or “cash backed” offer on their next home Prior to submitting offer, client agrees to purchase home after… Continue
Yes. A professional home inspection is required for all homes purchased by Redwood Cash Buyers.
Our pre-funding process starts with speaking with a loan officer from Day 1 Mortgage and getting approved via their TBD underwriting process. This means that your income and assets have been verified and all remaining conditions for full approval are property-specific. Once this has been obtained, you will connect with a Redwood Cash Buyer representative… Continue
If Redwood Cash Buyers purchases a home on your behalf, the total cost of using Redwood Cash Buyer equates to our fee, 1.9% of the purchase price, plus applicable closing costs and rent, which is calculated daily and paid at closing. If Redwood Cash Buyer backs your offer with a “cash purchase guarantee”, but doesn’t… Continue