What happens once the seller accepts my offer?
ANSWER
1. Once the seller accepts the initial offer, you can use the platform to schedule an inspection.
2. After the walkthrough, you will be able to adjust your final offer.
3. If the seller accepts the final offer, a PSA is signed and the property moves to closing.
Note that this is not an auction. The seller will see all offers and will pick the right one for them. To increase the chances of your offer being selected by the seller, put forward your best offer.,
Partners
I just submitted a property - what’s next? How does your process work?
Once you submit a property, you will receive an automated initial offer. One of our market directors will be in
touch within 24 hours (usually within just a couple hours!) to finalize the cash offer based on the information
submitted. If it works for you, We will send you a contract, and we’ll schedule the inspection for that week. From there, we’ll
work with you and our title company partner to complete a quick close.
Share AnswerDo you buy assignment contracts?
YES!
Share AnswerAre you okay with double closings?
Yes! We’ll work with you to make sure we have the proper paperwork so our title company can get a clean and
insurable title.
Share AnswerHow quickly can you close?
Very. Typically 7-28 days.
Share AnswerInspection contingency
In many cases, we can perform a pre-inspection; however, on a case-by-case basis, we may require 3-5 days of contingency. This information will be delivered along with our offer.
Share AnswerHow are you structured?
Zorba is an investment management platform. We source and manage properties for pension and investment funds. Our
headquarters are in Florida, and we operate across multiple states. Zorba, Inc. holds real estate brokerage licenses in
multiple states in cooperation with SFR Realty, LLC. See a list at the bottom of the page.
Share AnswerIs the title company you work with investor friendly?
Absolutely! We specialize in off-market and wholesaler deals and so do the title companies we partner with. They’re
okay with double closes and B2C assignments.
Share AnswerAre your offers non-contingent?
Our renovation partners perform a diligence walk in order to build their renovation
scope. We include a healthy diligence budget in our offers, so barring any major unforeseen items, we’ll work toward a
fast close.
Share AnswerHow does the Revenue Share Program work?
Get excited! We truly have one of the best Revenue Share structures out there! Upon accepting the terms of use, you’ll
receive a personal link that can be shared with fellow investors or referrals. For every property we purchase from your
referred user, you’ll earn $1,000! You can easily track your referrals, property submissions, and
earnings through your dashboard.
Share AnswerHow to request payout for Revenue Share earnings?
Payouts for revenue share earnings can be requested once every 30 days by clicking the payout button. To be eligible
for a payout, the minimum balance must be $1,000. The payout amount will be based on the terms and conditions of the
Revenue Share program, which can be found on the Revenue Share program page.
Share AnswerWhat should I do if my account is still awaiting approval?
If your account has not been verified within 2 business days, please email us at acquisitions@zorbapartners.com
with your company name, the email used for signup, and a link to your website or Facebook page.
Share AnswerWhat is your typical timeline for closing a deal?
Our standard closing time is 21 days. However, in certain cases, we might be able to expedite the process and
close within 14 days, provided the title is free and clear.
Share AnswerIs it possible for you to provide proof of funds?
Yes, once the property passes underwriting, we will provide proof of funds along with the offer via email.
Share AnswerHow can I submit details and information about my properties to you?
Please submit your deals via our website at https://getzorba.com/investors. This is the fastest way to get our offers.
Share AnswerDo you conduct property showings in person, or do you make offers based on virtual assessments?
We conduct inspections, and in many cases can do pre-inspections with 0-day due diligence.
Share AnswerWhat percentage of the After Repair Value (ARV) do you typically offer when buying properties?
We purchase properties with the intention of renting them out. We seek cap rates of 5.15% or higher.
Share AnswerWhat is your maximum allowed earnest money deposit?
$5,000 is are maximum allowed earnest money deposit.
Share AnswerAre there any post-occupancy options available?
We prefer to have the house vacant at closing. However, on a case-by-case basis, we are able to sign a short-term lease agreement with the owner or tenant for up to 60 days.
Share AnswerDoes Zorba primarily focus on buying properties to manage as long-term rentals?
Yes, we buy houses so that we can rent them out.
Share AnswerCould you describe your typical exit strategy?
Portfolio sale.
Share AnswerFor calculating the cap rate, what expenses should be considered for deduction from the rental income?
At the moment, we do not share our pro-forma.
Share AnswerAre you open to purchasing properties directly from builders?
Sure, in that case we will send you a purchase and sale agreement instead of an assignment of contract.
Share Answer
© 2023 Zorba
Contact Zorba Brokerage: Zorba Florida Realty Group LLC LIC #CQ1064981 and Zorba Inc: 7901 4th St N STE 300, St. Petersburg, FL 33702. Zorba Brokerage holds licenses in multiple states through SFR Realty LLC. Phone: 917-267-8655
Our Commitment to Accessibility
Zorba is committed to making our website accessible and user friendly to all. While we are constantly working to improve, we welcome your feedback and accommodation requests. If you are having difficulty accessing or navigating our website, or if you have any suggestions to improve accessibility, please email our team.
Our Commitment to Accessibility
Zorba is committed to making our website accessible and user friendly to all. While we are constantly working to improve, we welcome your feedback and accommodation requests. If you are having difficulty accessing or navigating our website, or if you have any suggestions to improve accessibility, please email our team.