Divvy seeks to purchase every home at the most responsible price possible. The price we pay for any home is the most critical factor impacting your monthly payments, your down payment, as well as your buyback price when you choose to repurchase the home.
We rely on a number of different signals to determine the right price, including: a proprietary valuation model; similar, nearby homes which have recently sold, and input from our partner agents on the ground. Together, we seek to come up with a) the fair market value for the property, and b) a bidding strategy that ensures we arrive at a fair purchase price for every home.
Sometimes it may not make sense for Divvy to make an offer on a specific property or we may be unwilling to meet a price demanded by the seller. This could be because Divvy believes a home is unfairly priced or the market's price expectations are significantly different than our own. We typically find that you may need to make more than one offer before a seller accepts.