Homeward Review: Should You Use Them to Buy and Sell?

Homeward is a home buying company that provides non-traditional solutions for buying and selling a home:

1. Sell to Homeward. Get a fast cash offer worth up to 84% of your home value. Homeward will work with your agent to list the home and give you any additional profit from the sale, minus fees and selling costs.
2. Buy before you sell. Borrow against your home value to purchase a new house. Then, list your home with a realtor and pay Homeward back once it sells.
3. Make a cash offer. Make a cash offer on a new home, boosting your chances of winning in a competitive market. Buy the home back from Homeward with your mortgage.

Homeward's cash offer products are designed to help home buyers and sellers avoid financing contingencies, so they can win the homes they love and move on their schedules. But the company charges considerable fees, ranging from 1.9—7% of your total home purchase or sale price.[1] Depending on the program, you’ll also pay Homeward for time it takes either to sell your old house or buy back your new one. Homeward's fees are on top of the usual transaction costs, such as agent commissions, closing costs, inspections, etc.

Before signing anything with Homeward, we recommend exploring a few top-rated competitors — which include iBuyers and other buy-before-you-sell programs. Customer reviews for Homeward are somewhat mixed, and you may find an option offering lower fees or better terms.

Is Homeward right for you?

Homeward offers flexible options for home sellers and buyers. It can be great if you want to:

• Sell quickly for cash without giving up your home equity
• Sell and buy a house at the same time
• Purchase a home in a competitive market

However, Homeward’s charges service fees of up to 7% and reserves the right to charge sellers for any repairs or touchups it determines your home needs to get it sold. Sellers are also responsible for realtor fees, utilities, maintenance (e.g., lawn care), taxes, and other homeownership costs while their old house sells. Many of these costs aren't finalized until shortly before closing, leaving some sellers feeling like they're left with a lot less money than expected. 

If you buy with Homeward's cash or use its Buy Before You Sell product, you'll pay rent on your new house until you buy it back with either your mortgage financing or the funds from your home sale. If your old home doesn't sell within 90 days of closing on your new home, you'll pay 1% per month for a 90-day extension.

Other buy before you sell competitors charge lower service fees and give you a longer window to sell your home. iBuyers like Opendoor charge roughly 5% in service fees, and also make deductions for repairs, but you don't run the risk of racking up ongoing ownership fees or additional selling costs.

Homeward vs. alternatives

Homeward's main competitors include other buy-before-you-sell services, iBuyer companies, and cash offer networks, which help you explore a variety of options for getting cash offers.

The following companies are highly rated and may provide more flexibility or lower fees.

Homeward vs. Clever Offers

Homeward’s cash offer is good if you need to sell fast, and the company will give you the difference if your home sells on the market for a higher price. But the 7% program fee is high, and you only get one offer to consider.

Clever Offers provides more flexibility, with several options for selling your home — including iBuyers, buy-before-you-sell products, and cash investors. There’s also a 7-Day MLS listing that markets your house as-is, letting you see how much you could get for your home now versus selling the traditional way. You can compare options without fees or obligation, allowing you to choose the options that works best.

Homeward vs. Knock

With its buy-before-you-sell option, Homeward is convenient for those needing to access their home equity early. But you can get practically the same service from Knock at a lower price: 2.25% compared to Homeward’s 3.5% fee.

Knock also serves a broader area, covering 75 markets in 20 states. The Knock Bridge Loan also gives sellers up to $35,000 to help make minor repairs and get their home ready to list.

Homeward vs. Opendoor

Homeward typically pays more than traditional cash buyers, offering up to 84% of a home’s market value up front, plus any additional proceeds from an open market sale. But in addition to the high program fee (7%), you must also cover realtor fees and the costs of any repairs or improvements Homeward deems necessary prior to listing.

An iBuyer alternative like Opendoor will purchase your home as-is. It also charges a lower service fee of 5%, but you’ll pay traditional closing costs and for any repairs that pop up during the home inspection.

Opendoor is also more widely available, serving metro areas in 25 states.

Homeward vs. Orchard

Through Orchard’s Cash Offer option, an Orchard agent will help you explore multiple offers from iBuyers like Offerpad and Opendoor. You’ll pay Orchard’s brokerage fees (typically 3% to sell and 3% to buy) in addition to the 5–7% fees charged by the cash buyer.

Orchard also has a competing buy-before-selling program called Move First. Costs include a 2.4% program fee for the equity advance, less than what Homeward charges. If your home doesn’t sell in 120 days, Orchard will buy it (compared to 180 days with Homeward).

On the downside, Orchard requires you to work with its in-house agents, while Homeward lets you choose your own. This flexibility allows you to negotiate a lower agent commission, potentially saving you thousands of dollars.

Homeward reviews and complaints

Source	Average Rating	Review Count
BBB	1.0/5	4
Google	4.7/5	1,034
Trustpilot	3.2/5	329
Weighted Average:	4.3/5	1,367

Homeward reviews are primarily positive. The company has an average customer rating of 4.33 out of 5, based on 1,367 reviews.

Many reviews are from real estate agents who work with Homeward and praise it as an excellent option for their clients. Individual buyers and sellers also say they’ve had a good experience with the company.

However, some negative reviews mention poor communication, delays in closing, and being left out of negotiations. 

✅ Smooth buying and selling process

Satisfied customers appreciate Homeward’s easy, transparent process and said it reduced the stress of buying and selling a house at the same time.

✅ Ability to make a competitive cash offer on a new home

Thanks to Homeward’s buy-before-you-sell program, several reviewers said they were able to purchase their dream home.

❌ Lack of transparency around process and fees

Multiple Homeward customers have complained that their final proceeds were far less than what they were initially led to believe — either due to hidden fees or miscommunication about the process. For example, some sellers said that Homeward made major decisions without their input, which negatively impacted their bottom line.

Other sellers complained that unexpected fees were tacked on during the process, resulting in final payouts that are far less than the initial quote.

❌ Closing delays and canceled contracts

Some negative Homeward reviews focused on delays in the closing and settlement process.

While the company responded to negative reviews posted three to four years ago, it appears that no one is responding to them now.

How Homeward works

Homeward has three key offerings: Sell to Homeward, Buy Before You Sell, and Make a Cash Offer. Homeward also provides mortgage and title services through its affiliate partners.

Sell to Homeward

Sell to Homeward provides qualified home sellers with a cash offer worth up to 84% of their home value. This lets them avoid the hassles of a traditional sale so they can move quickly. Homeward closes on the house within 21 days, and sellers can choose their own real estate agent to list their house for the chance to earn additional proceeds, minus program fees and other selling costs.

Here’s what to expect:

1. Sell your house to Homeward for cash and receive the proceeds upon closing (minus fees and closing costs).  
2. You can also take advantage of a 14-day leaseback, allowing you to continue renting your home while you search for a new one. A deposit is required, but you’ll get it back after vacating the property.
3. Homeward works with your agent to list the home for sale on the market, aiming to get the highest possible offer.
4. When the house sells, Homeward will give you the upside from the sale — the difference between what it paid you for the home and what it sold it for — minus additional selling costs.

Homeward's cash offer fee is 7% of the home sale price, deducted from your sale proceeds. You’ll also be responsible for other expenses,[2] such as your agent’s commission, utilities, closing costs, and repair credits or other concessions made to the buyer. You may be able to save some by negotiating a lower realtor commission with your agent.

If you’re selling a home that needs work, you’ll also have to cover the cost of any repairs or improvements Homeward thinks your house needs to get it 'market-ready.' Some negative Homeward reviews[3] claim these fees are unreasonable.

When you sell to Homeward, Homeward determines the listing price (and any subsequent price deductions) on the second sale of your home — so you won't have control over how much additional equity you receive.

Buy Before You Sell with Homeward

Homeward's Buy Before You Sell product enables sellers to access up to 80% of their home value upfront so they can buy a new house before selling their current one. That way, they can waive their home sale contingency, take their time selling, and try to get the best offer for their old home.

Let’s break down the process:

1. Sellers receive a guaranteed offer for their current home, allowing them to qualify for a new mortgage and make a competitive, non-contingent offer on a new home.
2. Sellers can then access their equity to pay off their current mortgage and make a substantial down payment on a new house.
3. Homeowners can then sell their old home for top dollar. If the property doesn’t sell in 180 days, Homeward will buy it.

Sellers pay a 3.5% program fee at closing for this service, plus rent on their new home until their old house sells. If you need to extend your listing past 90 days, you'll pay an additional 1% per month for a 90-day extension.

Buy with a Homeward Cash Offer

First-time homebuyers can get cash from Homeward to put toward a new home, giving them an edge in a competitive market. Here’s how it works:

1. Get approved, often within minutes.
2. Make an offer and purchase your new home.
3. Close with traditional financing or let Homeward buy the property with cash on your behalf. The company will sell it back to you for the same price.

Homeward's Buy with cash product comes with a 1.9% program fee, paid at closing. When you use Homeward Mortgage, you receive a 1.9% credit, effectively bringing your program fee to 0%.

If your financing approval doesn't match the closing date and Homeward buys the home on your behalf, you'll pay daily rent until you buy it back from Homeward.

Buyers must also make an earnest money deposit (EMD). Homeward applies these funds toward your down payment at closing. The EMD amount varies based on whether you close with your own financing or Homeward's cash:

• Closing with traditional financing: 1% EMD
• Homeward purchasing your home priced below $1 million: 2% EMD
• Homeward purchasing your home priced at $1 million or more: 4% EMD

Buyers are also responsible for typical real estate transaction fees, such as closing costs and realtor commissions.

Homeward Mortgage

Through Homeward Mortgage,[4] you can get approved for a conventional, VA, jumbo, or FHA loan to finance your new home. Buyers who use this option get a 1% credit toward their program fee.

There’s only one application to get approved for a Homeward cash loan and a mortgage, streamlining the process. The company reviews your financial documents in advance to catch any potential problems.

Homeward Title

If Homeward buys the home for you for cash, and then you buy it back with your mortgage, there are two real estate contracts and two closings. Using Homeward Title[5] helps buyers avoid duplicate fees.

When both transactions close with Homeward Title, they cover the extra title insurance — an average of 0.42% of the home’s purchase price.[6]

Homeward fees and other costs

When you buy a home through Homeward, you must also pay an earnest money deposit of 1–4% of the sale price. You’ll also owe carrying costs, such as property taxes and insurance, if Homeward buys the house on your behalf and resells it to you.

The fees are slightly more than those of competitors. Orchard, for instance, charges a 1.9–2.4% buy-before-you-sell fee, plus 3–6% in brokerage fees. Knock’s fee is a flat 2.25%.

Both sellers and buyers will owe closing costs and other expenses typically associated with a home sale or purchase.

Sellers and buyers must also pay their real estate commission fees, which average 2.5–3% for the listing agent and 2.5–3% for the buyer’s agent. But because you can choose your own realtor, you may be able to negotiate a lower rate.

Sellers may also need to make repairs or offer a concession at closing to cover the costs. Average repair expenses are $18,386–$36,771, or 5–10% of your home’s value.

Eligibility criteria

Homeward accepts most single-family homes and townhomes valued between $200,000 and $1.7 million. Homes should be built after 1950 or renovated and on lots of five acres or less.

Generally, your home may not be eligible for Homeward’s programs if it:

• Is in poor condition or needs significant work
• Has unpermitted additions
• Has outdated plumbing or electrical
• Has an active or coming-soon listing on the MLS
• Is occupied by tenants with a lease in place
• Is under renovation
• Has solar that is leased or financed
• Is a multi-family dwelling, condo, mobile or manufactured home, land leases, lot purchase, or commercial building

If you’re using Homeward’s cash advance program to buy a new home, it will need to qualify based on specifications, price, proposed completion date, and construction progress.

📍Homeward locations

Homeward is currently available in the following markets. Select your local market to find additional cash offer products available near you.

Is Homeward legitimate?

Yes, Homeward is a legitimate company that aims to make buying and selling a home less stressful. It was founded in 2018 by real estate agent Tim Heyl,[7] whose brokerage was recognized five times as an Inc. 5,000 business and as a top 25 agent team by The Wall Street Journal Top 1,000.

Homeward has garnered more than 1,367 reviews, but many of them are from partnering real estate agents. Heyl was named Inman News Innovator of the Year in 2019.

Since its founding, Homeward has grown from 20 to 200+ employees.[8] The company's headquarters are in Austin, TX, and it has been previously been recognized as a top workplace by Forbes, BuiltIn, and Inc.

FAQs

Recommended reading

Methodology 

We evaluate each buy-before-you-sell company based on five core criteria and create a weighted score:

• Customer reviews
• Service quality
• Fees and other costs
• Credibility

Customer reviews

Review analysis. We perform an in-depth analysis of all the available customer reviews to determine trends. We break down the reviews by theme and sentiment, and filter out spam reviews to determine our rating.

Company responsiveness. Negative reviews are part of doing business; however, we note whether a company is actively involved in resolving customer complaints.

Service quality

We rely on secret shopping and fact-checking interviews with company representatives to look for indicators that the company is professional, communicative, customer-focused, and ethical in its dealings with customers. We verify this information against customer reviews and interviews with past customers or professionals (realtors, former employees) who have had direct experience working with the brand. 

Fees and other costs

Competitiveness. We look at how the company's fees and other costs compare to competitors.

Value. We consider whether the fees are justified by the value offered.

Credibility

Trust signals. We look at how long the company has been in business, the number of verified customer reviews it has, how willing the company was to answer questions about their business model when we contacted them, and how easy it is to find detailed information on their website — including the names and contact details of specific team members. We also look at customer reviews indicating whether the company acts with honesty and integrity in their business dealings.