Orchard

Orchard
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About

About Orchard 

Orchard is helping to remove the stress from the home buying and selling by simplifying the process. Imagine selling your home on your schedule at market price. That is now an option if you use Orchard. With Orchard, you can make an offer on a new home before selling your current one. Unlike traditional iBuyers, Orchard helps customers 80-90% of their home value, helping them make as much as they would with a traditional home sale. Their goal is to help make such a huge decision less intimidating and stressful, while also making sure you don’t miss out on getting your dream home.

You can use Orchards services if you are in one of these areas: Atlanta, Austin, Charlotte, Dallas-Fort Worth, Denver-Colorado Springs, Houston, Montgomery County-MD, Northern Virginia, Raleigh-Durham, and San Antonio. 

While the company may only be a few years old, Orchard’s leadership team has a diverse and impressive background with members coming from companies such as Goldman Sachs, Amazon, Squarespace, AppNexus, Yodle, Harry’s, TPG, Meetup, Flatiron Health, and Handy. They were also listed as one of the Best Workplaces for Innovators in 2020. 

Quick Facts 

  • Over 95% of Orchards listings sell within 120 days pexels-karolina-grabowska-4386417
  • If you can’t sell your home, you will still get the instant equity amount 
  • You can sell to Orchard directly after 30 days, of instantly if you are in Dallas-Forth Worth or San Antonio areas  
  • Orchard offers a free concierge service that helps identify home repairs that can help with the sale of your home, and they help vet and manage the vendor’s partners to do the work on your home for you. You will pay for the home upgrades, but not the concierge service Orchard offers to manage the process. 
  • Through Orchard, you can get a 3D tour of your home, professional photography, and cleaning that comes out to over $1000 they invest in your home for you
  • Orchard is not a home flipping company or an iBuyer
  • There are three program options – Move First, List with Orchard, and a reduced fee traditional option
  • As an add-on, you can get Orchards Offer Boost option which helps sellers in hot markets make more competitive offers. Restrictions do apply. 

How Orchard Works 

For home sellers that are also looking to buy a new home, Orchard offers a first move service that helps you buy your next home without speeding through selling your current home first. You can get instant equity through Orchard on your first home, which allows you to be considered a non-contingent buyer giving you an advantage when placing an offer on a new home. In addition to helping your buying process Orchard helps with the sale of your current home, including pictures, cleaning, and a 3D tour. Once sold, if your home exceeds the instant equity amount you were given to buy your new home, you will receive those proceeds as well. If your home happens to not sell, you will still get your instant equity amount. 

If you are a home seller that is not looking to buy a new home at thatpexels-kindel-media-7578939 time, Orchard can help with that too. They offer a backup cash offer when listing your home. Once you get an assessment Orchard will give you a valuation with an optional cash offer. Someone from Orchard will give you a quick call to go over any questions about the process as well. After any of your questions have been answered, you can list your home through Orchards agents. They help with all the details, including photos, 3D tours, and professional cleaning. If your home doesn’t sell within 30 days, you have the option to sell to Orchard directly. 

You can also choose to go the more traditional route of buying and selling a home with Orchard with the benefit of a lower fee than your average real estate agent. 

 Who is Orchard best suited for?

Orchard is a great option for anyone looking to buy or sell a home in one of their markets with less stress. You can enter your address into Orchard’s website to see if you are in a location that is eligible for their services. 

Working with Agents Through Orchard 

While Orchard is unique in how they treat real estate transactions, they are a licensed broker entity with licensed agents that work for them. They call their agents Home Advisors, and you will have a Home Advisor represent you with a purchase of a new home, as well as a listing agent from Orchard to represent you in the sale of your old home. 

Once you are matched with your Home Advisor you will have a consultation with them where they will walk you through the process and answer any questions you might have. The Home Advisor will also help walk you through some tips with selling your current home based on walking through it with you. Last but not least, you will go over your criteria for what you want in a new home with them as well as the financing options. 

 

FAQs

Yes – Orchard agents are licensed and able to perform your real estate needs in your area.

Anyone who lives in an area Orchard services and are in a single-family home that was built between 1950-2019. The home cannot be currently listed on the market. There are specific price ranges for each serviced area typically ranging from $100,000-$1,000,000 that your home must fall into. You can find your specific price range for your area Orchards website.

The instant equity you receive from Orchard goes toward paying off any remaining mortgage on your current home. After you have moved into the new home you can start to work with a lender on paying your mortgage for that property. You will not have a double mortgage payment.

No. Using the Move First program does not mean you have to buy a home owned by Orchard. You are able to purchase a home owned by Orchard, but your Home Advisor will show you all homes in your area as options.

You will pay closing costs as you would with a traditional home sale, but you will have an average cost of 1% of the sale price of your home.

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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