Offerpad

Offerpad
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About

About Offerpad

Offerpad is offering a less traditional way to buy and sell a home, helping to deliver a better customer experience for the on-demand consumer. As a tech-enabled direct home seller and buyer, Offerpad helps to streamline the process of buying and selling a home. You can get a cash offer for your home from Offerpad, helping to speed up the selling process for you. They also help list your home if you are not satisfied with the cash offer, or if you would just prefer to go that route. 

Offerpad started in 2015 and is now the second largest national iBuyer in the country. The company started with real estate agents that recognized the problems with traditional home buying and selling. They wanted to provide home sellers with more control over the process, so Offerpad was created. Offerpad helps to provide strong purchase offers for the home and a quicker close. They strive to give more freedom in the home buying and selling process, helping to take away the feeling of being stuck that many feel during the real estate process. 

Quick Facts

  • You can buy homes directly from Offerpadpexels-rodnae-productions-8293694
  • You can use an outside agent to purchase an Offerpad home, as well as sell to Offerpad with an outside agent
  • To get your home purchased by Offerpad it must be a single-family home built after 1960 with a value of no more than $1 million on a lot that is no more than an acre
  • Offerpad allows you to trade your home into them if you do not want to own two homes at the same time 
  • Most offers made by Offerpad typically come within 24 hours and expire after 4 days 

Working at Offerpad

The general attitude of people who have worked at Offerpad is positive. Many have liked the technology offered at Offerpad as well as the flexibility without being micromanaged. Some have mentioned having to work long hours, but are appreciative that those hours are well compensated for with Offerups competitive pay and benefits. A handful of employees stated they wish they had more training programs. 

What makes Offerpad different?

Offerpad has turned into much more than just an iBuyer. They offer many different service options to help buyers and sellers find the right fit for what they need out of the real estate process. 

The Homebuilder Alliance Program helps people purchase newpexels-pixabay-534220 construction homes as well as sell their current home. This helps get families into the home they truly want, while not having overlapping mortgages. With Offerpads Extended Stay add-on option sellers have more freedom to choose their own closing date. This helps give time for the new build construction to be completed. Offerpad also offers a Home Trade-In program giving homeowners the ability to bundle and save while purchasing their new home with Offerpad. Those buyers looking to shorten the waiting time on closing a home can use the Offerpads Buyer Boost option, which gives the ability to close within a matter of days instead of the standard 43-day average close time. Through this program, Offerpad uses its financing to make the purchase of the home on behalf of the buyer using a cash offer. 

FAQs

  • Phoenix, AZ
  • Tucson, AZ
  • Birmingham, AL
  • Jacksonville, FL
  • Orlando, FL
  • Tampa, FL
  • Atlanta, GA
  • Las Vegas, NV
  • Charlotte, NC (including neighboring parts of South Carolina)
  • Raleigh, NC
  • Austin, TX
  • Dallas-Fort Worth, TX
  • Houston, TX
  • San Antonio, TX
  • Denver, CO
  • Nashville, TN

Offerpad gives you the ability to pick your own closing date. The close range can be from 24 hours in select markets, or you can extend to 90 days with Offerpad EXPRESS cash offer.  Each state Offerpad serves in has its own minimum timeframe to close. There is a different time frame based on HOA communities as well. You can see a detailed list of the states’ timeframes on Offerpads website.

No. Regular home buying costs still apply, but Offerpad does not add additional fees.

Yes. Offerpad will not purchase homes outside of their service areas, homes that are pre-fabricated, mobile, or manufactured, and homes where there may be double escrow or the seller does not have a clear ownership of the home. In addition Offerpad will not buy any homes that are not vacant by the closing date, or homes that have significant issues such as foundation or structural issues.

Chris Heller Headshot

About the Author

Chris Heller brings 27 years of experience in real estate. Chris serves on the AgentAdvice Editorial Board and is the Chief Real Estate Officer at OJO Labs. Chris brings deep expertise having held influential industry positions including CEO of mellohome and former CEO of Keller Williams Realty International.

Last Updated: 7/2/2021

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