Frequently Asked Questions
Frequently Asked Questions
|
1. General |
|
4. Buying |
|
9. MLS |
|
10. Contract |
|
12. Closing |
|
|
1.0 General
1.1 What if I have questions?
We are here to help! Live chat is the fastest way to get your questions answered, and we also provide support by email. Just follow the procedures below: Click on the menu “About” -> “Contact Us”, enter your name, email address, and select a topic. Then in the Subject area, write any issue you have or question you want to know and submit. Our representative will get back to you as soon as we can.
1.2 What does Repdai do?
Repdai brings the e-commerce experience to the real estate market with innovative technologies for efficiency and cost saving. With Repdai platform you can buy or sell your property as easily as your daily online shopping. Our Repdai platform will guide you step-by-step with our state-of-the-art streamline workflow management system. In addition, our platform will provide MLS feeds so you have more market options. It will also be for the use of real estate agents who seek new business opportunities, and share profit from successful transactions.
1.3 How is Repdai different from a traditional real estate market?
One of the most significant features of Repdai is enabling 100% FSBO/DIY in real estate transactions, resulting in substantial cost savings. You can complete the entire property sale process on our platform, from listing, showing, negotiating, contracting to closing all by yourself without paying a 5% or 6% commission fee to the agents. On the other hand, buyers may buy a property at a more reasonable price if they negotiate directly with the buyer. To facilitate FSBO/DIY, our platform will guide you through a step-by-step real estate transaction streamline workflow, so you don’t need to have advanced realty knowledge nor worry about missing out on anything important. Moreover, the Repdai platform allows you to remotely sell your properties or purchase your dream home.
1.4 Why Choose Repdai?
If you are a seller, you can save BIG bucks if you list and sell your property on the Repdai platform. Listing on Repdai website takes merely a few minutes. It is completely free, no hidden cost guaranteed. If you are a buyer, you will be able to search and access nationwide MLS (for the time being, we start from New York State but will extend the list nationwide shortly). You can keep properties that meet your requirements in a shopping cart for further comparison. And you can negotiate with the seller and compete with other potential buyers online directly. Furthermore, we enable sellers and buyers to handle every step of real estate transaction safely and efficiently through the platform, including safe contract signing and closing online. We also provide 24/7 support if you have any questions.
1.5 Can any agent or potential buyer contact me directly?
No. We protect our sellers from being distracted by emails or phone calls. Any scheduled visits, offers or price negotiations will be processed securely through the Repdai platform. All email notifications or contract signings will be sent from the Repdai platform.
1.6 Do I need to pay a fee upfront when I list my property?
No, listing at Repdai is totally FREE! If you choose For Sale By Owner (FSBO) service, it is also totally free. If you choose FSBO+ service, the service charge is 1.5% sale price at Closing, where 1% is for the buyer agent or cash back to the buyer as the incentive on speeding up your sale, and 0.5% is for the Repdai service. If you choose a full agent service, the service charge at Closing is 2.5% sale price.
1.7 Is there any penalty if I list then withdraw?
No, you can contact our Repdai customer support to withdraw your listings temporarily or permanently if you are willing to. We’ll withdraw your listing temporarily or permanently at your request free of charge once your identity has been verified.
1.8 What documents and paperwork do I need to submit when I list my property?
You need to prepare your Title Deed in PDF format before submitting a listing. For those agents who list properties on behalf of the seller, you are required to submit a Listing Agreement in PDF format as well. You can also submit property photos in any image format. If you want your photos to be displayed in a proper order, name your photos lexicographically, for example, “img01.jpg”, “img02.jpg”, “img03.jpg” and so on. You can always save your unsubmitted listing as a draft and come back any time to edit before submission.
1.9 Can I put houses into my shopping cart?
Yes, Repdai combines some important features so users will experience it just as online purchasing. Features include 1) After searching and finding your dream house (or multiple lists), put it in your shopping cart; 2) Negotiate the price with the property owner, similar to bidding the price with other potential buyers; 3) Online documents signed and online closing; etc.
1.10 Does Repdai provide a mobile App?
Currently, Repdai App is not available on the Apps Store or Google Play. However, you can use any browser on any desktop/laptop/mobile devices to access the Repdai website. The mobile devices and/or brands we support include but are not limited to Apple (e.g.m iPad, iPhone), Samsung (Galaxy Tablets), Huawei, Nokia, HTC, etc.
1.11 Can I follow Repdai on social media?
Yes, Repdai connects with our users and supporters on the following social media:
YouTube: https://www.youtube.com/channel/UCJfc16c8Cs0JG0YqwotklMQ
Facebook: https://www.facebook.com/Repdai-Real-Estate-ECommerce-111893771398650
Twitter: https://twitter.com/Repdaiincinc
Linkedin: https://www.linkedin.com/company/repdai/?viewAsMember=true
2.0 Account and Identity
2.1 Do I need to sign-up and create an account to use Repdai?
You don’t need to sign up and create an account merely for searching listings or using other information-based resources. However, if you want to list or buy a property, you are required to create a Repdai account for using security logging, identity verification, electronic signature, and other functionalities. Please refer to How to create an account for detailed instructions.
2.2 What information will I provide for creating an account?
To create a Repdai account, you need to provide your email, phone number, real name, and other personal information, including date of birth and government issued ID (Driver’s license or Passport). In addition, you may be required to provide your office address if you are a real estate agent or legal representative.
2.3 How can Repdai verify my identity to be the property owner or on behalf of the property owner?
When you first sign up and create your Repdai account, you are required to submit your government issued ID (Driver license or Passport) in PDF format. You are also required to provide your contact information (email address and phone number) which will be validated instantly. If you are a seller, your ID also needs to match the Title Deed document. If you are an agent and need to create listings on behalf of your clients, you need to sign a listing agreement before listing.
2.4 Can I use company ID card or student ID instead of driver license or passport?
No, only a government issued ID (Driver license or Passport) will be acceptable.
2.5 If I contact Repdai customer support, will Repdai verify my identity?
We don't need to verify your identity if you ask general questions. However, if a question or an issue is related to your listing or property you are going to purchase, and the correlated case is in the transaction workflow, your identity will need to be verified.
2.6 Will Repdai verify the address of my listing property?
Yes, we will verify your property address before you create a listing. Once the address is verified, you are unable to change it.
3.0 Create Listing / FSBO
3.1 How can I start to list my property for sale?
You must sign up and create an account before listing. When signing up, you need to provide a copy of a valid government issued ID (Driver license or Passport) in PDF or image file formats. After your profile is validated and approved by the Repdai operation, you can start your listing.
3.2 Can I complete my listing completely online?
Yes. As soon as you have a verified Repdai account, you can create a listing online by yourself in just 15 minutes. The materials you will need for a successful listing include the Title Deed of your property in PDF format, as well as pictures and descriptions of the property. You can always save your unsubmitted listing as a draft and come back any time to edit before submission. Please refer to How to create a listing for detailed instructions.
3.3 Can I list more than one property for sale?
Absolutely! There is no restriction on how many properties you may list for sale. You can also schedule visits or handle price negotiations for different listings at the same time as long as there are no time conflicts. If you are a house-flipper, you may enjoy special offers or discounts for multiple listings.
3.4 Can I list a home that is already under contract?
No, you cannot list a property that is already under contract for backups. Listing a property which is under contract would be a violation to laws and regulations.
3.5 Can I list land for sale?
Yes, you can use Repdai to list land or lots for sale if you are the property owner.
3.6 If I submit my listing, does it become searchable immediately on the website?
No. Once you submit a listing, our operators will review and verify it. If the listing is rejected, you will receive a rejection notification through an internal message or an email from our website. We may provide reasons for rejection and suggestions for revision for your reference. Your listing will become searchable on our website once our operators approve it.
3.7 Can I modify the listing after submission?
Once your submitted listing has been approved by Repdai operators, the listing information is locked from being modified. However, in case you identify any mistake to which corrections are required, you can contact Repdai customer support about the issue immediately. We will temporarily withdraw your listing from our website, update its status as DRAFT so that you can modify and submit it again for verification and approval.
3.8 How long will my house listing be active?
You can determine the ACTIVE period of your listing by defining the “from” date and the ”to” date. If you want to extend the ACTIVE period, you must contact Repdai customer support at least three (3) business days before your listing has expired.
3.9 How long does it take to create a listing?
The average time to create a listing is about 15 minutes if you have all the required materials at hands.
3.10 Can I list the home without the address showing on the internet?
No, you must provide a valid property address for listing. All address information must be transparent to potential buyers on the internet.
3.11 Can I sale mobile or manufactured homes on Repdai?
No, we don’t support the sale of mobile or manufactured homes. You must own the land and have a permanent foundation on the home in order to list it through Repdai.
3.12 How many pictures can I add to my listing?
You can add up to 50 photos for each of your listings.
3.13 Can I list a property that is in probate?
You cannot list the property which is in probate until it is out of probate.
3.14 If I am an agent, can I list a property on behalf of my client?
Yes, you can list as many properties as you have for your clients without charges. Because you are on behalf of your clients, the owner of the property must be listed as the titleholder. You are also required to provide us with a signed Listing Agreement before listing.
3.15 Can I list a home as Coming Soon?
No, we do not list properties as coming soon at this time.
4.0 Buying
4.1 Can I buy a home remotely?
Yes, one of the Repdai features is that you can purchase your dream home from a remote location. In other words, the entire transactions from visiting, contracting to closing can be completed remotely.
4.2 How can I buy a home on Repdai?
All steps are the same as traditional procedures except the online features.
a) You need to sign-up and create an account first.
b) With ideas and criteria about the property you are looking for, search the website with specific filters.
c) If you find any candidate property, save it to your shopping cart.
d) Prioritize your candidate properties and initiate a request for visiting online or onsite.
e) Wait for the seller’s response for scheduling a visit. If your appointment is on-site, be present on site as scheduled. If the appointment is online, you will receive a link to the live Zoom meeting. Someone (either property owner or agent) will show you the property as scheduled.
f) You can start to make an offer or negotiate the price back and forth until the offer is accepted or rejected by the seller. You also need to tell the seller the percentage of your financing.
g) If the offer is accepted, you may order the home inspection yourself or ask Repdai for assistance.
h) After inspection, you can negotiate repairs or other credits with the seller online.
i) If agreed upon by the property owner, you can find a legal representative from the Repdai website (or see FQA 4.5 if you cannot find one). Then you need to sign the contract prepared by the seller’s legal representative, and pay a 10% down payment as instructed.
j) If you need financing, wait until it’s approved then notify your legal representative.
k) Wait until your closing date is scheduled.
l) Schedule the final walk-through online or onsite.
m) Prepare to make the rest of your payment at closing.
n) Get your key and now you own your home.
Refer to How to buy a home for detailed instruction.
4.3 Can I bid multiple homes at the same time?
Yes, after you save your desired properties into your shopping cart, you can request visiting or skip visiting and make your offers directly. You can bid or negotiate multiple properties at the same time, no matter whether you want to buy a single or multiple properties. Of course, you have the obligation (e.g. 10% down payment) as soon as your contract is signed.
4.4 If I want to buy the house from a remote location, how can I find a local inspection?
Repdai will provide you with some local inspection services information for you. You need to contact them directly and pay your inspection fee.
4.5 What should I do if I cannot find my legal representative on the Repdai platform?
If you couldn’t find your legal representative from the dropdown list on Repdai platform, you can enter your legal representative’s contact information on the Website. Then Repdai will contact your legal representative directly to sign up.
5.0 Open Houses & Showings
5.1 Who shows my home?
If you list your home for FSBO without Repdai full service, you will show your home yourself. However, if you choose the Repdai full service, Repdai will act as your listing broker and take care of showings, open-house, etc. If your home is listed through MLS, either your listing agent or the buyer’s agents will show your home. Depending on the showing type you selected, virtual showing will be held at Zoom meeting (the meeting link will be sent to your phone).
5.2 Can I schedule an open house myself?
Yes, after successfully listing your home, you will be able to schedule an open house from the Repdai Website. Refer to How to schedule open house and showings for detailed instructions.
5.3 How can I keep other real estate agents from contacting me?
Your email and phone are for Repdai verification and notification only. We never distribute this information to anyone for any purpose.
5.4 How can I cancel my scheduled visit?
You may cancel your scheduled visiting or open house from the Repdai site, if you have any emergency. But please make sure you leave enough time for notifying other parties.
6.0 Partner Brokers
6.1 Who are partner brokers?
Partner brokers are licensed real estate brokers who partner with Repdai broker to provide local brokerage services to Repdai customers. When a Repdai customer orders a full brokerage service to sell their property, Repdai platform looks up the best fit partner broker to serve the customer and dispatches the sale order.
6.2 How can I become a Repdai partner broker?
If you are a licensed broker, sign up a Repdai account with your broker license number. We will notify you when there is a customer about to sell their property in your nearby area.
6.3 What can I do as a Repdai partner broker?
Let’s say you are the licensed broker in Albany New York State, while our Repdai broker services are mainly in New York City. If there is a listing with Repdai full services in Albany, you may assist the property owner for scheduling visits, open house, etc. You will share 50% of the total service charge at closing.
7.0 Legal Representatives
7.1 Who are legal representatives?
Legal Representatives mainly refer to real estate attorneys who are legally authorized to prepare and review documents and contracts related to the sale and purchase of a home. In some states where attorneys aren't a required part of real estate transactions, the title company is the legal representative instead.
7.2 I am a licensed real estate attorney, how can I become buyer or seller’s first choice?
You need to sign up and create an attorney account first. As soon as your account is created and verified, your name will be in the buyer or seller’s attorney drop-down list when they are entering the contract stage. When your name is selected, we will notify you through email and from the website when you login. We can also display your logo and contact info in our Repdai public page for promotion at a low cost. Please contact Repdai customer support for details.
7.3 Is it possible to handle multiple clients at the same time?
Yes, you can handle multiple clients at the same time. When you login to Repdai, you will see multiple clients identified by different property addresses and client’s names. Click anyone to get into the details.
7.4 Does Repdai provide a balance sheet at closing?
Yes, one of the Repdai features is providing a balance sheet for all parties. You just need to enter any credits and expenses and the result will be calculated automatically.
8.0 House Flipper
8.1 What are house flippers?
A house flipper is the real estate investor, known as a "flipper", who buys a house in its original condition and at as low a price as possible. The flipper does not intend to live in it, but wants to renovate and then quickly sell, or "flip" it to a new buyer at a profit.
9.0 MLS
9.1 What’s MLS?
Multiple listing is a service run by real estate brokers. Brokers come together to create a database of the properties available for sale, and this database is called a multiple listing service (MLS). The MLS enables brokers to see properties listed for sale in each of their localities.
9.2 How many MLS is avaible on Repdai platform?
For the time being, we’ll start from New York State. There are over 10,000 active listings available in our database. But you will soon be able to search out and access almost the nationwide MLS on Repdai platform.
10.0 Contracts
10.1 Is it possible to sign a contract online if I am unable to come to my attorney’s office?
Yes, you can choose to sign a legal document online using DocuSign. When the document is ready to sign, we will send an email with the link to you. Just follow the instructions to sign and submit the document.
10.2 Is it secured to sign document on-line?
Yes, we use DocuSign for contract and other documents signing. DocuSign is well known for its electronic signature. It has a secured file transfer system so you can trust it.
10.3 I am a buyer, do I have to pay 10% down payment when signing a contract?
Yes, by law you must make a 10% deposit to the seller's attorney as a down payment when you sign the contract. Just follow your attorney’s (or legal representative) detailed instructions for the payment.
10.4 What should I do after I sign a contract?
When you login to your account, the Repdai platform will guide you and remind you of your next steps in the streamline workflow. Most likely, you need to start your loan application, unless you have full cash to complete your real estate purchase. At any time if you are unsure of what to do, please log in to the Repdai platform with your account. Repdai will show the status of your transaction in the streamline workflow, guide and prompt you through the following steps.
11.0 Pricing & Commissions
11.1 What’s the Repdai pricing structure?
Please visit Repdai Service Fees for details.
11.2 When does Repdai collect a service charge?
Repdai will collect all service charges at closing. There is no upfront fee before closing.
12.0 Closing
12.1 Does Repdai provide Title or Closing Services?
No, all title or closing services must be provided by a legal representative. Repdai platform only provides E-Commerce services to the real estate market with innovative technologies for efficiency and cost saving.
| Repdai Support Live Chat |
|