Buying and selling on Trelly

Offering on Properties 

Everyone wants to find their next investment property, but only at the right price. Keep in mind that each offer made on Trelly is a binding contract to buy the property if the offer is accepted by the seller. 

We put together some guidelines and recommendations to potentially help maximize the chances of an offer being selected by the seller: 

1. Off-market: This is an off-market transaction. All offers are final, no further inspections will be allowed unless directed by the seller/supplier. 
2. Contacting: Do not approach the property or contact the homeowner without approval or the presence of the seller/supplier. We value our investors’ privacy and violations of this term will result in revoked access to our platform.
3. Communication: Do not discuss offers or numbers outside the Trelly platform.
4. Fees: Investors/buyers are responsible for all closing costs and fees. This includes buyer and seller escrow fees.
5. Offers: Be aware that offers submitted below the starting price will most likely be rejected.

How to determine what to offer

Analyze the deal. Make sure to evaluate the deal, run numbers, pull comps, and do due diligence. This will help to understand what should actually be paid for the property.

What to know if an offer gets accepted

If an offer gets accepted, the winning buyer will receive an email as well as a notification inside the app. The buyer must be ready to take action. 

What sellers want to know

Sellers want to sell their property. So that means, no tire kickers. If submitting an offer, be ready to execute. Buyers will need to communicate about specific details about the sale of the property, such as: 

• Requesting deposit information
• Selecting title/escrow company if necessary 
• Documents required for closing, including any lending requirements
• Any relevant timelines for closing

Purchasing process

1. Offers are non-contingent. No inspection period will be allowed unless otherwise stated by the seller. Property is bought as-is where-is.
2. If an offer is accepted, the buyer will communicate with the seller on the Trelly platform to exchange contact information for deposit, contract, and title communication. 
3. A non-refundable deposit will be due on most properties, or the seller can go to the next highest offer. Contracts are not assignable, and all sales are final.

Selling – Get started

Learn how to sell an equitable interest or wholly-owned property on Trelly.

Trelly is the first and only marketplace that makes it possible for investors and wholesalers to buy and sell exclusive off-market properties for free. Sellers will find the information below that they need to have a successful listing.

What sellers need 

• 10-15 pictures (no Google Maps/Street View)
• A 3-minute video (preferably in 720p; video taken from a phone should be sufficient)
• Cloud CMA, or comps to upload onto Trelly
• Description of the property and surrounding area (example below)
• Leaseback information (if applicable)

Example of property description

Great property located in Sparkman subdivision. The home needs a full interior update to modernize. Roof is 5 years old. Foundation seems level. HVAC system is 3 years old. Nearby comps are selling for ~$180-200k with an average DOM of 5.

Note: sellers would want to add any other relevant information/value to the property.

How to price a property on Trelly

We understand that sellers want to get the most out of a property, but overpricing is never recommended. Like sellers, investors are looking for a viable deal. 

When a house is priced correctly, sellers are likely to get 80% of the true after repair value, minus repairs.

Recommendations

• Keep comps within close proximity to the subject property not crossing any major streets.
• Cloud CMAs should consist of:
  • Map of all listings
  • Summary of comparable properties
  • Details
  • Photos
  • Adjustments
  • Comparable property statistics
  • Sold property analysis

Accepting offers

Once a property is published it will be sent to investors that have that type of property saved as part of their buying criteria. An investor will message a seller or submit their bid via the Trelly platform, so make sure to have notifications on. At the end of the showing, sellers will review all offers and accept the highest and best. Make sure that all notifications are turned on.

Remember

• Seller must own the property being listed or have a valid and assignable contract.
• Uploading pictures and video: we recommend at least 15 pictures of the property in order to attract buyers.
• Sellers will schedule and handle their own showing(s).
• Investors that match the buy criteria of a property will receive the information on the house, but our staff will not be calling investors on a seller’s behalf.
• Any communication via in-app messaging is done by the seller. 
• Seller is responsible for getting the deposit and drafting the backside contract.
• Seller is responsible for the full contract to close process.
• If there are any disputes, Trelly will not be responsible for or involved with mediation of any kind.

Questions?

Email to support@trelly.com or call (855) 395-4645