Clever Offers: Get Competing Cash Offers on Your Home

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By Katy Byrom Updated March 23, 2024

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When to consider Clever Offers | What types of offers can I expect? | How much will I get for my house? | Benefits | Drawbacks | How it works | FAQ

What is Clever Offers?

Clever Offers is a free service that matches you with fully vetted cash buyers who place competing bids on your home.

Powered by Clever Real Estate (the top-rated real estate company on Trustpilot), the platform helps you compare fair cash offers from a variety of local, regional, and national investors — making it especially helpful for when you want to sell fast but don't have the time (or desire) to track down offers on your own.

The Clever Offers team can also connect you with a top local realtor for an estimate of your home's market value. That way, you know you're making an informed decision before selling your house for cash.

⚡️Compare fair cash offers to the sale price you'd get with an agent!

When to consider Clever Offers

Clever Offers can be used by home sellers nationwide in a variety of situations, but it might be a particularly good fit if you:

  • Need to sell quickly due to relocation or a change in circumstances
  • Are behind on your monthly mortgage payments
  • Have a home that needs a lot of repairs
  • Have a rental property you'd like to be rid of
  • Have inherited an unwanted property
  • Want to avoid the hassle of a traditional sale (showings, staging, etc.)
  • Want to save money when you sell

Buyers in Clever's network purchase homes in any condition, and Clever does the work of making sure they have the track record and cash to close.

Unlike other cash buyers, Clever Offers gives you the option of getting a second opinion from a trusted local agent. You can choose between selling with an agent (which might net you more money in the end, even if it takes a bit longer), and accepting a competitive cash offer with a fast closing.

You also get exposure to alternative offer types like novation agreements and seller financing, which can potentially net you more than a traditional cash offer.

Get competing cash offers — no strings attached

Compare multiple offers from trusted cash buyers in your area against the sale price you'd get with an agent. Clever Offers is free, and there's no obligation to accept an offer from our investors. Simply tell us about your property, and we'll do everything we can to get you the best possible price for your home.

Get Cash Offers

What types of offers can I expect?

One of the main benefits of Clever Offers is that it can expose your property to multiple investors employing a variety of offer strategies — some of which can get you a higher price than a traditional cash offer.

Straight cash offer

  • Best for: Sellers who need fast cash
  • Earning potential: 60-75% of market value
  • Closing timeline: As little as 7 days

Accepting a cash offer from an investor is the fastest way to sell your house

Sellers who opt for this route can generally close in 1–2 weeks, but should expect to receive about 60–75% of their home's after-repair value (its estimated market value after factoring in repairs and renovations).

Cash buyers will usually purchase homes in any condition and pay for all closing costs, allowing you to walk away without investing much time or money into the home sale.

Novation agreement

  • Best for: Sellers who want to maximize their home value without the hassle of making repairs
  • Earning potential: 80–90% of market value, paid out at closing
  • Closing timeline: 45–60 days, depending on the extent of the renovations

With a novation agreement, instead of buying your property as is, an investor will fix it up on your behalf and sell it on the open market. You'll get paid an agreed-upon amount at closing, while the seller will pocket any additional proceeds. 

A novation agreement lowers an investor's upfront costs (since they only need to pay for repairs and not for the property itself) and allows you to sell your home for a higher, post-renovation price.

"A novation is best for folks who have extra time to sell but want the convenience of a cash sale," says Mike Bennett, General Manager of Clever Offers. "They don't want to deal with agents. They don't want to do showings. They don't want to deal with negotiations."

"Novations are also great for folks who have too many repairs and want to maximize their profit from the sale," says Bennett.

If you're willing to delay selling until after those repairs have been made by the investor — 40–60 is the typical closing timeline — you can pocket as much as 80–90% of your home's potential market value. This is compared to the 70% an investor might pay for your home in as-is condition.

Seller financing

  • Best for: Sellers who don't need a lump sum and would prefer consistent monthly payments in exchange for a higher price
  • Earning potential: 110–120% of market value
  • Closing timeline: 30–60 days, with additional monthly payments made over a set period of time

"Seller financing is best for folks who own the property outright and would like to cash flow over time," says Bennett. "So perfect for people who want to rent out their property for the cash flow and tax benefits but don't want to become a landlord.

With this type of solution, the buyer will make a down payment directly to the home seller and pay off the remaining balance in monthly installments — usually over a period of 3–10 years, as agreed on in the contract. 

At the end of the contract term, the buyer will deliver a final "balloon payment" for the remaining amount owed.

Because the seller is free to charge the buyer interest, you can usually make as much as 110–120% of your property value over time. 

Another benefit of seller financing is that home sellers can usually avoid paying capital gains taxes, since the payout happens in increments rather than in one lump sum.

Subject-to agreement/mortgage assumption

  • Best for: Sellers who are behind on their mortgage payments
  • Earning potential: Whatever equity you have in the home, minus back payments
  • Closing timeline:  30–60 days, with additional monthly payments made over 3–5 years.

With a subject-to agreement (also known as a mortgage assumption or wraparound mortgage), a buyer will take over the existing mortgage from the seller — freeing them from future obligation. 

"A mortgage assumption is best for folks that are upside-down on their mortgage and will not have the time to sell the property on the open market," says Mike Bennett. "These are usually folks that are going into foreclosure. And so they have very limited options, especially when they have little-to-no equity."

The way a mortgage assumption works is that an investor will put a down payment on the property — usually around 10–20% — and sign a promissory note with the seller that essentially wraps around the existing mortgage. 

The seller remains on the original mortgage, but the buyer becomes the primary borrower — agreeing to pay off the mortgage in a shorter time frame, typically 3–5 years, but sometimes up to 10 depending on how much the seller owes on the property.

With an agreement in place between the buyer, seller, and lender, the investor will usually set up a rent-to-own contract with a new tenant-buyer (typically someone who has the money to buy a house but not the credit to secure a mortgage). The tenant-buyer will make a down payment to the investor and continue to make monthly payments until they are able to secure a traditional mortgage to buy the home outright.

As the original seller, you get paid regardless of the agreement the investor sets up with a new tenant-buyer. You also get the benefit of saving your credit, since your name remains on the original mortgage until the note is paid in full.

Discounted MLS listing

  • Best for: Sellers with a flexible timeline who want the best possible price for their home while saving on listing fees
  • Earning potential: 100% market value
  • Closing timeline:  30–90 days, depending on your market

If you're curious what an agent thinks you can get for your house selling as is, you can also request a proposal from a top local realtor (or several) within Clever's network. 

That way, you can compare cash offers against your home's potential list price — with no pressure to commit to a listing. If time is a factor, a realtor can also help you gauge how quickly your home might sell for at various price points.

If you do decide to sell the traditional way, you get the added benefit of saving about 50% on listing fees through Clever's pre-negotiated commission rates. If you decide to accept a cash offer, you can proceed knowing you've thoroughly explored your options.

How much will I get for my house with Clever Offers?

Most cash buyers, including investors in Clever's network, are looking to pay less than fair market value for your house.

"Generally speaking," says Ryan David, owner of We Buy Houses In Pennsylvania, "investors offer about 70% of the value of the house, minus cost of repairs/updates, minus buying costs, minus holding costs, minus the estimated cost of utilities."

However, there are plenty of exceptions to the 70% rule, depending on the home, the market, and the buyer's exit plan.

When an investor lands a deal, they usually employ of several investment strategies:

  • Fix and flip the house for resale
  • Turn the house into a rental property
  • Wholesale the property to another investor
  • Set up a rent-to-own agreement with a tenant-buyer

Each of these approaches come with varying degrees of risk and short- versus long-term costs for the buyer — and therefore influences the price they'll pay for your home.

Rental property investors may offer as much as 85% of market value for your property, while those who employ rent-to-own agreements can often get you full market value or above for your house — although the payoff will happen in monthly payments made over time, instead of right away.

Key benefits of Clever Offers

Greater competition

With Clever Offers, you can get as many as 10 legitimate cash buyers competing for your home. When you request a cash offer, the Clever team sends your property information to qualified buyers in their network, who respond with their best offers. 

Clever Offers' buying partners include investors who operate on a local, regional, or national scale — as well as iBuyers like Opendoor and Offerpad, who make cash offers on homes in fair-to-good condition.

With an initial round of offers, you can usually expect to hear from 2–5 buyers. However, the team is happy to source additional offers if you'd like to see more options. 

Clever can also match you with local realtors who may be able to net you more by putting your home on the market for a discounted listing fee. 

Legitimate buyers

One of the greatest benefits of working with Clever Offers is that you can trust that their buyers are legit. 

"We make sure they have proof of funds, and a successful track record of closing on property — at least 10 transactions in the last 12 months," says Clever Offers General Manager Mike Bennett.

Rather than having to track down buyers and verify their credentials yourself, Clever does the work for you. However, once connected to a buyer, you're free to look them up online, check out reviews from past customers, and ask them any questions you'd like before moving forward with an offer. 

Clever also recommends getting contracts reviewed by a personal representative such as an attorney or realtor before signing for added peace of mind.

Flexible options 

In addition to traditional cash offers, Clever can help you explore alternative offer types such as novation agreements, subject-to agreements, and seller financing — all of which have the potential to net you a higher price for your home than a traditional cash offer.

You can also request a comparative market analysis (CMA) from a local realtor or two within Clever's network to compare offers against your home's estimated market value. .

With all your options laid out, you can accept a cash offer, or change your mind and put your home on the market. If you opt to list with a Clever partner agent, you get the added benefit of discounted commission rates — which are about half the typical cost through Clever's network.

However, there's no pressure to commit to an offer or listing, so if you decide Clever Offers isn't for you, you can walk away without complications.

Full support 

The Clever Offers team stays involved in the process from start to finish. 

They'll explain exactly what you can expect from the process, connect you directly with cash buyers, and answer any questions you have about the various offers you receive.

They're also available to track down additional buyers or connect you with a realtor if you want to explore more options after getting an initial round of offers.

While Clever doesn't technically represent you or the seller during the transaction, they're there to ensure that everything goes smoothly.

If you're concerned with the way things are progressing or the transaction hits a snag, the team will troubleshoot any issues and follow up with the buyer on your behalf. 

Downsides of Clever Offers

Potential for below-market offers

Even with multiple cash buyers making bids on your property, selling to an investor usually means accepting less than your home's potential value.

Many investors — including some of the cash buyers in Clever's network — base their offers on what's called the 70% rule, meaning they'll offer no more than 70% of the home's potential market value after repairs. 

However, Clever does take measures to ensure you get the most competitive offers, including exposing you to multiple competing bids and alternative investment strategies such as novation agreements and seller financing. 

You'll still need to do your due diligence

While Clever thoroughly screens its buyers and is available to address any questions or issues that come up during the process, it doesn't technically represent you or the buyer during the sale. 

Its team can't technically offer you advice about which offer to accept or how to negotiate. Therefore, the company still recommends having your offer contract reviewed by an attorney or advisor before signing. 

That said, Clever's team will do what it can to get you the most competitive offers to choose from and ensure the buyer follows through. 

How Clever Offers works

1. Request an offer.

You can call the Clever Offers team directly or fill out an online form with your contact info and basic information about your home. Clever usually responds within 1–2 hours.

2. Look for a call from Clever's team.  

Before reaching buyers on your behalf, a member of the Clever Offers team will give you a call (or contact you buy text or email, if you prefer) to let you know what to expect from the process and gather any remaining info, including:

  • Why you're looking to sell
  • Your time frame for selling
  • A rough idea of your home value
  • Your home's condition, including any major repair work needed or recent renovations
  • Any issues with the property, such as problem tenants or financial complications
  • The types of offers you'd be interested in pursuing (cash offers, novation agreements, seller financing, open market listing, etc.)
  • Any questions you have about the offer process

Once you give Clever the green light, its Offers team will start reaching out to its buying partners on your behalf. 

3. Connect with cash buyers

As buyers respond that they're interested in your property, Clever will introduce you via text or email so you can set up a time to connect. 

The introduction will include the name of the prospective buyer, their contact info, the company they work with, and your property address for buyer's reference. 

Most buyers will follow up to ask when and how you'd like to connect to discuss their offer. You can respond right away or look them up online to check out their website and past customer reviews before agreeing to a call.

4. Review your offers. 

Once you've had a chance to connect with the buyers and see what they'll offer for your house, you have a few options:

  • Accept the best offer and move forward with a contract
  • Ask the team to introduce you to additional buyers
  • Pursue other options outside of Clever

If you're on the fence about accepting a cash offer, you can also ask Clever to connect you with a local realtor or two to see what they think your home can sell for on the open market. 

Just like with your cash offers, there's no obligation to move forward with a listing. It's simply another avenue to explore. 

However, if you do decide to list with an agent from Clever's network, you get the added benefit of saving on realtor fees — about 50% over what agents traditionally charge. 

5. Sell your home. 

At this point you'll have all the information you need to either (1) accept a cash offer, (2) list your home on the open market, OR 3) pursue options outside of Clever.

If you accept a cash offer, the closing date will likely be up to you and you may be able to close in as little as one week. If you list on the open market, your listing agent will negotiate the sale price and closing date directly with the buyer.

Compare selling as is vs. listing with an agent

With Clever Offers, you can compare multiple offers from trusted cash buyers in your area against the sale price you'd get with an agent. Clever Offers is free, and there's no obligation to move forward with an offer or listing. Simply tell us about your property, and we'll do everything we can to help you weigh your options and get the best possible price for your home.

Get Cash Offers

FAQ

Where is Clever Offers available?

Clever Offers is available in all 50 states and Washington, DC.

Are there any fees for using Clever Offers?

You won't pay any fees when you accept a cash offer. Instead, the buyer will pay Clever a small referral fee once they successfully close on your home. Buyers within the Clever network also typically cover closing costs like title fees and transfer taxes.

If you decide to list your home with a Clever partner agent instead, you'll pay your agent a discounted listing fee of just 1.5% — about half the typical commission rate.

What if I change my mind and decide to list my home?

If you're not interested in any of the cash offers that Clever presents to you, there's no obligation to proceed. Clever can connect you to a top local agent through their extensive partner network, or you can pursue other options on your own. 

What companies will I get cash offers from?

Clever Offers works with cash buyers across the country, including local and regional investors and larger companies that operate nationwide.

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