GOBankingRates Score
Quick Take: Offerpad simplifies the buying and selling of homes at a reasonable rate. The company assists customers with any renovations and moving requirements and also offers financing services. For a quick turnaround on home sales, it is among the best in the iBuying business.
- Service Fees
- Eligible Homes
- Time to Close
- Process Start to Finish
How did we calculate this?
Pros
- Quick and convenient process
- Free moving service within a 50-mile radius
- Home improvement services
- Price can be negotiated in certain circumstances
Cons
- Mediocre App Store and Play Store ranking
- Geographic limitations
Offerpad Overview
Offerpad is an online real estate brokerage that began in 2015. Simply put, Offerpad buys and sells homes, a process commonly known as iBuying. Other services stretch to home loans, home improvement, professional advice and closing. By conducting the majority of each deal digitally, Offerpad has become a quick and easy-to-use alternative to traditional real estate brokerage firms. It also has a mobile app.
Some of the perks customers will get with Offerpad include:
- Offers within a 24-hour window
- Purchase agreements completed digitally
- Deals can be closed within eight business days in most jurisdictions
- Easy-to-schedule virtual and in-person home tours
There isn’t much certainty as to where home prices will be in the next few years. But, even when deciding to wait out a hot housing market, it’s a good idea to be prepared.
Key Features
Offerpad has several features that might be especially beneficial to first-time homebuyers, homeowners looking for an upgrade or investors. Here’s a closer look at each one.
Service Fees
Fees are typically one of the most important things to consider in home buying or selling. Sure, online cash offers at the click of a button sound great, but how much of the pie does Offerpad take? The fee breakdown for buyers and sellers are detailed below.
Buyers on Offerpad don’t have to pay any fees. As long as they have preapproval for financing, a home can be purchased. Other related costs may apply to buyers, though, including financing, appraisal, inspections and closing.
Comparatively, sellers are faced with higher fees. Offerpad has two options for sellers:
- <…….