Offerpad is a home buying and selling company that makes the process of buying or selling a house easy. They provide an initial cash offer to qualifying sellers within 24 hours and help their customers choose a closing date that fits their needs.
Getting Started:
In order to receive an Offerpad cash offer, homeowners fill out an online form that details the basics about their property. They also have the option to upload photos. The company also asks for information about the home’s condition, including any recent improvements and upgrades that have been made.
How it Works:
After a homeowner submits an application, Offerpad sends their local market expert to visit the home and make sure it meets their standards for purchasing homes. Afterward, the team will prepare a final offer. This will include a service fee, which can range between 6-10% of the sale price. The company will also pay for repairs that are necessary, but not included in the sales price.
The company has two services: Express and Flex. The Express service is the basic one, and it costs 5% of the home’s sale price. This service is best if you want to sell your home quickly, and you can choose a closing date between 8 and 90 days out.
Flex, on the other hand, is more flexible. You can select a closing date between 10 and 90 days out. It also comes with the perks of an extended stay program, which allows you to stay in your home up to three days after closing.
How It Works:
Like other iBuyers, Offerpad buys homes in about two dozen metro areas across the United States. They don’t purchase homes outside their service areas, and they won’t buy homes that have major foundation issues or other structural problems.
They buy a variety of homes, from single-family homes to condominiums and townhomes. The company focuses on areas with high demand for homes, as well as age-restricted neighborhoods. They don’t buy mobile, pre-fabricated or manufactured homes. Must visit https://www.whiteacreproperties.com/
What It Buys:
As of the time of this writing, Offerpad buys homes in 25 markets across the country. Its main service area is in the Northeast and the Midwest, but it plans to expand its footprint over time.
What They Don’t Buy:
Like most iBuyers, Offerpad doesn’t purchase homes with significant foundation issues or ownership issues. They also won’t buy homes that aren’t in a good neighborhood or have problems with the title.
They also don’t work with homes that are in foreclosure or have been foreclosed on, and they don’t deal with homes that are in a HOA or community that requires membership fees.
Its website has a helpful FAQ section, where you can find answers to some of the most common questions. In addition, the website offers a listing agent tool that helps homeowners answer questions about their home and how much it’s worth.
Buyers & Sellers:
The majority of both buyers and sellers say they’ve had good experiences with Offerpad. However, a few issues continue to pop up in reviews, particularly lowballing and repair costs that are deducted from the sale price. Some consumers also reported being cheated, and some even had to get their money back from the company. This is why it’s important to thoroughly check a company before moving forward with them.
