Those looking for alternative ways to sell houses may have stumbled across the Offerpad website. Offerpad may be a viable alternative for those who need to sell their home quickly, or also someone who does not need to get the most money on the real estate transaction. Learn the answers to seven frequently asked questions about selling with Offerpad.
What is Offerpad?
Offerpad is in the business of buying and selling houses. They streamline the buying process by giving homeowners an offer within 24 hours of receiving information about the property. If the homeowner accepts the offer, they can move within a couple of weeks.
The obvious benefit of selling your home to Offerpad is that you don’t have to keep your home tidy for endless showings and open houses. You also don’t have to do a ton of repairs and go through stressful negotiations.
The downfall of selling your home to Offerpad is that you may not receive top dollar for your house. Even if you wanted to accept a lesser amount for your house through Offerpad, the company might not be interested in purchasing in your area. In fact, they only work in seven states.
Does Offerpad pay closing costs?
No, Offerpad does not pay for closing costs. Offerpad’s website says that some closing costs and fees that sellers may be responsible for may include title insurance, escrow fees, HOA transfer fees, taxes, document transfers, and other customary fees. The fees can range from 1% to 3% of the price of the house.
Their website also says that their average service fee (which differs from the closing costs) is typically 7%.
If you care about making the most money from the sale of your home, selling your house to Offerpad is not the way to do it. Instead of paying closing costs and a 7% selling fee, most homeowners would turn instead to an agent who will work for a discounted fee.
Does Offerpad offer good prices?
Offerpad never promises to make you a top-notch offer for your home. The benefit of working through Offerpad is speed. If you sell your home to them, you can choose your own closing date and be out of the house within a few weeks.
You want a good price for your home, so you need to work with a full-service agent who understands the nuances of your local area’s real estate market. If you want to sell your house within a few weeks without having to clean the bathtub, contact Offerpad.
How can I view a house without an agent?
Offerpad allows home buyers to view homes through their instant access system. Search for homes that have this system in place on their website, and you can look at the house on your own from 6 a.m. to 11 p.m. local time. Just show up to the door of one of Offerpad’s homes and look for instructions that will allow you access to the house.
Choosing a house can be a stressful decision. It is always a good idea to have another set of eyes on the house you are interested in putting an offer on a piece of property.
Where is Offerpad buying homes?
Offerpad buys and sells homes in 770 cities in the U.S. While this sounds like a lot of cities, those cities all reside in 13 different metropolitan areas in just 7 different states.
Offerpad is a viable option for homeowners who meet the following qualifications:
1. The homeowner wants to hurry.
2. The homeowner doesn’t care about making top dollar for their home.
3. The homeowner lives in one of 13 cities in the U.S.
If you don’t meet all three qualifications, contact a Clever Partner Agent. We have agents working in every city in every state.
Does Offerpad buy all houses?
The short answer is “no.” Offerpad purchases houses in 13 metropolitan areas in the U.S., but only considers single-family homes built after 1960. The homes cannot have a value of more than $500,000, and the houses cannot be on lots larger than one acre.
While Offerpad is working to expand their territory, they are very limited. If you live outside an Offerpad area and wish to sell your home, you will need to contact a traditional agent.
Does Offerpad negotiate on their offer price?
If you feel as if Offerpad has overlooked a feature or upgrade of your home, you can contact the company to see if they will increase the amount of your offer.
If you’re concerned about making the most from your real estate transaction, contact a full-service Clever Partner Agent working in your area. Our agents will negotiate with your buyer, so you receive the most significant profit possible from the sale of your home.