Here are some of our most frequently asked questions:
1. What is SparkOffer?
SparkOffer is a residential real estate marketplace that enables buyers, sellers and agents to find, list, offer and negotiate properties completely online.
2. I’m an agent, how do I submit my offer?
There are two ways for you to get your offer directly in front of the listing agent and seller immediately. The first is click the “Make Offer” button on the property, create an account and get your offer submitted. Agent submitted offers are made on the standard local contracts and at a minimum need to contain proof of funds or a mortgage letter stating your clients ability to purchase the property. You can also e-mail your offer to email@example.com. Our technology will immediately create an account for you to complete and get your offer in front of the agent and the seller.
3. I am a buyer, can I submit an offer on my own?
Yes, you can submit your own offer via SparkOffer. With the buyer direct process you will be submitting a “non-binding” offer for seller consideration. Either the SparkOffer team or the listing agent will be contacting you to make sure that you have either proof of funds or a mortgage pre-qualification from a lender. Once verified, your offer will immediately reach the seller and the listing agent for consideration.
4. What happens if the seller counters my offer?
Our mobile technology makes it very simple for buyers, sellers and agents to negotiate terms. The counter offers through our technology would be considered non-binding. We strongly believe in “good faith” and that buyers, sellers and agents can come to terms using our platform.
5. How do I get the written contract on a counter offer situation so I can have a binding offer?
Once the buyer and seller have agreed to terms on SparkOffer, the listing agent and/or buyer’s agent will be notified that both parties have agreed upon terms and will circulate an offer contract or purchase and sale contract (depending on market) for signatures by all parties.
6. Why do some of your properties have a guide range and not a static list price?
Guide ranges are determined through discussions with the listing agents and their sellers. Sellers with a guide range are serious about getting their property sold and are transparently telling buyers what they are prepared to accept for the property.
7. Is SparkOffer an auction?
No, SparkOffer is not an auction. An auction is typically a public sale in which the property is sold to the highest bidder. At auction, the buyer has to preregister and accept that they have completed all of their due diligence and be prepared to pay cash for the property.