Offerpad can give you the convenience of a cash offer for your home and a fast closing on a date you choose. Compared to competitors, Offerpad Review is more flexible — it can close in just 8 days in most markets, or up to 90 days if you need extra time.
The company operates in 25 U.S. cities and, like other iBuyers, uses its own research and pricing model to buy homes, providing cash offers within 24 hours.
Get fair offers. Compare your options.💰
With Clever Offers, you can get offers from Offerpad, Opendoor, and other cash buyers in your area. A local agent will negotiate on your behalf, and tell you what your home is REALLY worth on the open market.
With all iBuyers, the convenience of a cash offer comes with a cost. While Offerpad says it pays fair market value for homes, if you accept a cash offer you’ll likely give up the potential to sell your home for a bit more money on the open market.
Clever can show you the best options for your situation. A Clever agent can gather offers from Offerpad Review & other companies that pay cash for homes in your area. Your agent will then compare these options with listing your home so you have all the knowledge you need to make an informed decision.
30% off Offerpad Coupons & discount deals
EXPRESS Cash Offer
Selling to Offerpad
What is Offerpad?
Offerpad is an iBuyer, a company that uses technology and its automated valuation model to buy homes.
Like its competitors, Offerpad’s goal is to rethink the way real estate transactions unfold. Its cash offers provide an alternative to the time-consuming and uncertain process of preparing, listing, and marketing a home on the open market.
Once Offerpad purchases your home, Offerpad Review it completes any repairs or renovations before relisting it on the open markets.
In exchange for these services, Offerpad Review charges sellers a 5% fee, plus closing costs.
Is Offerpad legit?
Yes. Offerpad is a legitimate business that buys and sells homes.
Launched in mid-2015, Offerpad was the second-ever iBuyer after Opendoor. After a quiet start,the company raised $260 million in 2017 and began to expand across the U.S.
In 2021 Offerpad continued its growth, expanding its revenue to $2 billion and its total transactions by 58% from two years before.
Get fair offers. Compare your options.💰
With Clever Offers, you can get offers from Offerpad, & other cash buyers in your area. A local agent will negotiate on your behalf, and tell you what your home is REALLY worth on the open market.
Offerpad at a glance
|🤝 Service fee||5%|
|⏱️ Time to close||As soon as 8 days|
|📍 Locations||25 markets nationwide|
|🏡 Eligible homes||● Single-family homes, including condos and townhomes|
● Built after 1960
● Valued at less than $1 million*
● Lot sizes no greater than 1 acre
|⭐ Offerpad reviews||3.7/5 stars|
|🔎 Who is Offerpad best for?||People who want to sell fast and who don’t mind making less than what they’d get with a realtor.|
Offerpad Good & Bad
- No need to clean, declutter, paint, or renovate your home before selling
- Receive a cash offer within 24 hours
- Close in as little as 8 days, or a date of your choosing
- Free moving service within 50 miles
- Pay a service fee of 5% of your sale price for convenience
- Offers are likely less than your home’s fair market value
- Repair deductions can reduce proceeds by thousands, and aren’t disclosed until you’ve signed a contract
- Little to no room for negotiation over sale price or repair costs
As of August 2021, Offerpad buys and sells homes across 11 states within the following metro areas:
● Alabama: Birmingham.
● Arizona: Phoenix, Tucson.
● Colorado: Denver.
● Florida: Jacksonville, Orlando, Tampa.
● Georgia: Atlanta.
● Indiana: Indianapolis.
● Nevada: Las Vegas.
● North Carolina: Charlotte (including adjacent areas of South Carolina), Raleigh.
● Texas: Austin, Dallas/Fort Worth, Houston, San Antonio.
Offerpad generally buys homes that…
● Are single-family residential homes, including attached home types like condos and townhouses.
● Are no more than 60-70 years old.
● Are on lots that are 1 acre or less.
● Are valued below Offerpad’s maximum for their market.
Offerpad ReviewOfferpad ReviewOfferpad ReviewOfferpad ReviewOfferpad ReviewOfferpad ReviewOfferpad
Offerpad does not buy homes that…
● Are more than 70 years old.
● Are manufactured, modular or mobile.
● Do not have a clear title.
● Have significant condition issues, such as foundation or structural concerns.
If your property doesn’t meet the guidelines for a cash offer, an Offerpad Review representative may give you the option of listing the home with an Offerpad real estate agent instead.
Local agents in each market help to determine each home’s value and the likelihood Offerpad will be able to resell it; iBuyers make money by selling homes, not by hanging on to them.
● All iBuyers charge a fee for their services. Here’s a breakdown of Offerpad’s costs:
● Offerpad Express: 5% of the final sale price.
● Offerpad Flex: 6% of the final sale price, to cover the real estate agent commissions for both the listing agent and the buyer’s agent.
● Repairs: Costs will vary depending on what’s found during Offerpad’s inspection.
And as in any real estate transaction, you will be on the hook for closing costs. This can include transfer taxes or fees, escrow fees, real estate attorney fees, Offerpad Review prorated property taxes or HOA fees, and title-related fees. If you initially hired a listing agent, then switched to Offerpad, you’ll have to pay the agent out of pocket.
Listing with Offerpad Flex
Offerpad’s Flex program allows you to list your home for up to 60 days on the open market with the guarantee of a cash offer in your back pocket.
Offerpad Review charges a 6% fee for this service, which covers the commission for the listing agent who will help you sell the home. This fee also includes the cost of the buyer’s agent commission, which is typically paid by the seller.
Offerpad will provide cleaning and staging services to get the house in market-ready condition. You can also take out an interest-free loan from Offerpad for improvements like painting, flooring, and new appliances. You’ll pay back the loan at closing.
How to get started with Offerpad
To get started, go to the Offerpad website and enter your address. You don’t have to choose between Offerpad Express (selling to Offerpad) and Offerpad Review Flex (listing with Offerpad) right off the bat, though if you already know you’d prefer one over the other, scroll down the page and click “learn more” beneath Express or Flex.
Either way, you’ll end up filling out the same basic form with information about your house and receive a cash offer within 24 hours.
Can I cancel Offerpad?
Yes. If after signing the purchase agreement you decide not to go through with the sale, you can cancel. But unless you’re cancelling because you can’t come to an agreement with Offerpad regarding repairs and home condition, you’ll have to pay a fee equal to 1% of Offerpad’s offer price. Should the iBuyer decide to back out of the deal, neither party owes anything.
Does Offerpad pay closing costs?
Offerpad does not pay closing costs for sellers, but if you buy an Offerpad home and finance the purchase through Offerpad Home Loans, you may receive a credit of up to $1,000 toward your closing costs. Availability depends on your location.
If you’re looking to save on closing costs, comparing mortgage lenders’ rates and fees can help you pay less. You can also seek out lenders that don’t charge an origination fee.