Offerpad vs. Opendoor vs. Knock: Which Company Is Best for You?

Opendoor and Offerpad are iBuyers, companies that buy homes for cash and resell them on the open market.

• iBuyers typically purchase homes that need only minor repairs or cosmetic updates and tend to operate in major metros with strong price appreciation.
• Because they have stricter purchase criteria, they also pay more than a traditional house flipper. However, they also charge service fees of 5%+ and make deductions for the entire estimated cost of repairs.
• You can request an initial offer from an iBuyer online and get a finalized offer following a home inspection. If you like the final offer, you can choose your own closing date.

Knock is a bridge loan (or 'buy-before-you-sell') provider.

• Whereas an iBuyer can purchase your home outright, companies like Knock front you the equity from your current home to purchase a new one before you sell.
• The funds can be used to pay down your existing mortgage, make a down payment on your new home, pay for moving expenses, and even spruce up your current house before you list it.
• Once you’ve moved into your new home, you sell your old home with your choice of real estate agent, then use the proceeds to settle up with Knock.

While any of these companies can help you move faster than a traditional home sale, customers often pay a premium for this convenience through either service fees or below-market offers. Whether Offerpad, Opendoor, Knock, or another company offering similar services is better for you depends on your priorities.

A free service like Clever Offers can save you a ton of time figuring out your best options for selling your home. With Clever's 5-star rated service, you can compare offers from iBuyers, bridge loan providers, and more. Find the best cash offers near you, and move when you're ready — no added fees or obligation to move forward.

Offerpad vs. Opendoor vs. Knock: What's the difference?

All three companies can help you sell your home quickly, but they use fundamentally different business models and serve different needs.

How they work

Offerpad: Multiple selling options, including cash

Offerpad has transformed from a pure iBuyer into a comprehensive real estate services company, providing sellers with traditional listing services alongside cash offers. While customers can still request a preliminary cash offer online, sellers must meet with a HomePro agent to go over the final offer along with other selling options available through the company. 

Current services available through Offerpad include:

• Offerpad Cash Offer. Skip the traditional listing process and sell directly to Offerpad for an 8% service fee. You can close in as little as 8 days, or stay up to 90 if needed. Service includes free local moves and a 3-day extended stay if you need more time to vacate.
• List with Offerpad: As an alternative to its cash offer, you can list with an Offerpad HomePro and use its cash offer as a backup option, good for 60 days. With this option, sellers can take advantage of Offerpad's Renovate service, wherein Offerpad handles any repairs or improvements needed to get your home 'market ready,' and you pay them back out of the proceeds at closing.
• Hybrid approach (Homeward Offer): In partnership with Homeward, Offerpad now offers a third option combining an upfront cash offer with an open market listing, giving sellers the chance to earn additional upside. However, fees for the program can quickly add up. These include 8% for the upfront cash offer, plus approximately 6% in listing fees at the close of the open market sale. Sellers also pay carrying costs (e.g., taxes, utilities, and maintenance) out of the closing proceeds from the open market sale.
• Buy with Offerpad: Buying a house with Offerpad is similar to buying a house the traditional way — except that you have the option to tour homes on your own schedule and buy directly from the company rather than working with an agent. Offerpad also provides traditional brokerage services if you're interested in touring homes outside of Offerpad's inventory. When purchasing an Offerpad-owned home, buyers are required to submit a pre-approval letter with their offer.

Opendoor: Cash offers, plus other options

Opendoor's business still largely revolves around its core iBuying service. Sellers can request a preliminary cash offer at opendoor.com, schedule a brief (~30 minute) home inspection to receive a final offer, and complete the transaction almost entirely online. However, sellers still have the option to list with an Opendoor Partner Agent if they'd prefer to test the market while "locking in" Opendoor's cash offer for up to 30 days.

Current solutions available through Opendoor include:

• Sell to Opendoor: Get a cash offer and pick your closing date within a 10–60 day window. After a home inspection, you'll receive an adjusted offer accounting for your current home condition, local market factors, repairs, and closing costs. Services fees are 5%.
• List with Opendoor: Sell your home the traditional way, using Opendoor's offer as a backup, good for 30 days. Sellers pay typical listing fees, which are generally 3%, plus any concession you choose to offer for the buyer's agent fee. 
• Cash Plus: In 2025, Opendoor announced the launch of its own hybrid option, Cash Plus. Much like Offerpad's Homeward Offer, Cash Plus gives sellers an upfront cash offer for their home. Opendoor's team then renovates and resells their property on the open market. If the renovated home sells for more than Opendoor's all-in costs, sellers receive the additional proceeds, minus Opendoor's fees and expenses. 
• Buy with Opendoor: Homebuyers can purchase an Opendoor owned home with an agent or directly through the Opendoor app at the "sticker price" amount. Buyers can also work with an Opendoor Partner Agent to buy a non-Opendoor owned home.

Knock: Buy-before-you-sell service

Rather than purchasing homes directly, Knock operates as a bridge loan provider.

When you qualify for the Knock Bridge Loan (based on your current home value and remaining mortgage balance), Knock will front you a portion of your home equity to buy a new house before you sell. The short-term loan can be used to pay down your existing debts (helping you qualify for more on your next home loan), make a down payment on your next home, cover closing costs and moving expenses, and more.

The funding is interest free for up to 6 months, and Knock provides a guaranteed backup offer in case your home doesn’t sell in that time. Knock's Bridge Loan also provides up to $35,000 to help you make minor repairs and get your current home ready to list. 

Knock's bridge loan costs 2.25% of the estimated sale price, plus about $1,850 in loan origination fees. Rather than charging these fees upfront, Knock deducts its expenses after your house sells. According to Knock, 92% of customers sell their home on the market in less than 90 days for full asking price or above.[1]

Offers

Offerpad and Opendoor buy homes directly, typically for less than market value

During the early 2020s, iBuyers like Offerpad and Opendoor gained a reputation for buying homes at full market value. But since the market has cooled, offers from both companies appear to have become less competitive.

"Before 2022, iBuyers' offers were competitive," explains Christopher Trumbach of Florida Prestigious Homes. "They were coming in close to market value, or at least what the sellers were looking for. But when the market changed, they started slashing the numbers. So now, the way the market is here, I've not really had anybody motivated to go with the iBuyers."

Our team recently analyzed more than 400 homes purchased by Opendoor and 123 homes purchased by Offerpad over the past two years. The data from these properties shows that, on average, Opendoor pays closer to market value, as measured by the difference in the original purchase price vs. resale price.

However, Offerpad sells a greater percentage of homes at a loss, indicating more variability in its offers.

	Opendoor	Offerpad
Avg. purchase price	$338,560	$293,436
Avg. resale price	$366,844	$324,925
Avg. loss to seller	$26,376 (8.79%)	$29,346 (13.89%)

Source: Internal analysis of 409 Opendoor homes and 123 Offerpad homes bought and sold between May 2023 and June 2025. Data sourced from House Canary and public property records.

Knock's offer can only be used as backup after 180 days on the market

Knock's business model focuses on helping sellers achieve full market value by listing on the open market with their own agent. The guaranteed backup offer serves as insurance rather than a competitive purchase option.

Since 92% of Knock customers sell within 90 days through traditional listing, most achieve market value or close to it. The backup offer is only available after 180 days and is based on mortgage payoff amounts rather than market value.

Fees

Offerpad now charges a higher fees than Opendoor

While Offerpad and Opendoor both used to deduct a 5% service fee, Offerpad recently changed its cash offer fee to 8%. Sellers who choose to list with Offerpad can expect to pay about 6% in listing fees. 

Opendoor's cash offer fee remains fixed at 5% and charges a standard brokerage commission for its listing services.

Neither company charges a cancellation fee, but both make deductions for repairs — which can significantly lower final offer amounts.

Here’s how Offerpad's and Opendoor's fees break down on a $500,000 home sale:

Knock charges lower service fees than either iBuyer

Knock's Bridge Loan program comes with a fixed 2.25% service fee, plus approximately $1,850 in additional loan costs. However, since you'll be listing your home with a real estate agent, you'll also pay their fees. Realtor commissions average 5–6% of a home's sale price, but you can save significantly by working with a brokerage charging a lower commission rate.

Additionally, Knock customers tend to sell for full market value, potentially earning tens of thousands more than iBuyers would offer, making the net proceeds significantly higher despite commission costs.

Knock costs on a $500,000 home:

Customer reviews

Offerpad: Lowest average customer rating (3.92/5)

Offerpad has the lowest ratings among the three companies, although plenty of past customers have been pleased with the cash offer process. Customers who opt for a traditional listing also seem to rate the company higher based on their agent's performance. 

✅ "I have worked with Offerpad three times. Two homes were a cash offer, and one was a traditional sale. I feel it's the way to go when selling a home. No hassles, and the staff are first rate. Highly recommend using Offerpad." Phillip L., Google

✅ “We sold our home through Offerpad and Zina was our real estate agent. We were under contract within 48 hours. Zina handled everything for us. She was always available and made it such a smooth process.” — Alexandra G., Google

Common complaints about Offerpad mention low offers, excessive repair costs, and last-minute contract changes.

❌ "Offerpad claims on their website that they aren’t 'flippers.' However, their cash offers are lower than most cash home buyers. They offered me almost $100,000 less than what I bought my home for 2 years ago. The home is only 2 years old and needs no repairs." — Kaleb, Trustpilot

❌ "They offer you a good price for your house, make you think that everything is good. They do an inspection and fill it with items that do not cost very much, like light bulb needs replaced or lock on bathroom door doesn't latch. They then tell me they need to take 62k off the purchase price for 'repairs' but do not offer an itemized list with prices for each item." — Anonymous reviewer, BBB

Read: Our full Offerpad review

Opendoor: Good customer satisfaction overall (4.26/5)

Opendoor has solid reviews, with customers appreciating the smooth, hassle-free selling process as well as the professionalism and communication of the customer support team. Several customers also note that Opendoor's offers seem fair given the convenience factor (no showings, repairs, etc.). 

✅ “I did not have time for a real estate company and dealing with an agent, showings, and all the things that goes into that. Opendoor made it very easy to show my home, proceed through closing, and sell my home with minimal effort.” — Brady, Tustpilot

✅ "For me, the cut they take off of the price of your home is well worth the hassle they remove from the process. I was able to set the date that we closed, not have to worry about preparing for showings, I didn't have to worry about how long it would be on the market before sale, and I was able to put that time and energy into planning the rest of my move." — Brian, Trustpilot

Common Opendoor complaints include final offers that are significantly lower than initial estimates and poor quality repairs on flipped homes.

❌ "Opendoor gave me a preliminary offer of $493,000 for my home. The actual offer came in $80,000 less at $413,000 less 5% service charge, 0.5% estimated closing costs, repair costs of $14,998, for a final offer of $375,627. This is in a neighborhood where recent homes sold for $450,000 and $470,000." — Scott E., Trustpilot

❌ "This company is pathetic and ridiculous! I bought in march of 24 and soon got sick. They covered up black mold which I am highly allergic to. I have neighbors who verified they were covering the walls and flooring up with the black mold still present. They left me with over $100k in hospital and doctor bills. Run, don’t walk!" — Liv C., Trustpilot

Read: Our full Opendoor review

Knock: Highest overall customer rating  (4.79/5)

Knock maintains an excellent overall customer rating, with reviews consistently mentioning Knock's excellent customer service, as well as the convenience and peace of mind offered by the "buy before you sell" program.

✅ “As a single mother, I can’t imagine trying to sell my house without having a new one locked down, so the home swap program was essential for me. Having the peace of mind that regardless of what happens, there’s a guaranteed offer on my old house that will cover my loans has truly made the home buying experience less stressful." — Veronica C., Zillow

✅ "A Knock loan allowed our busy family to make an offer on the house we wanted before selling our then current home, move on our own timeline, and wait for the best offer on our former home. The Knock process was easy, quick and the communication and service was great!" — Angela M., Trustpilot

A few scattered complaints mention complex paperwork and documentation requirements, but most of these complaints are several years old.

Read: Our full Knock review

Availability

	Knock	Opendoor	Offerpad
Locations	AL, AZ, CA, CO, DC, FL, GA, IL, IN, KS, KY, MD, MI, MN, NE, NH, NJ, NC, OH, OK, OR, PA, SC, TN, WA, WI	AL, AZ, CA, CO, DC, FL, GA, ID, IN, KS, MA, MI, MN, MO, NV, NJ, NM, NY, NC, OH, OK, OR, SC, TN, TX, UT, VA	AZ, FL, GA, IN, NV, NC, OH, SC, TX
Purchase criteria	Most single-family homes, townhomes, and detached homes; valued up to $1.5 million	Single-family, townhomes, some condos and duplexesPost-1930s constructionLot size up to 2 acresValued under $1.4 millionOwner-occupied	Single-family, townhomes, some condos and age-restricted propertiesPost-1950s constructionLot size up to 1 acreValued under $1 million

Offerpad: Most limited availability

While Offerpad once bought homes in 25 cities across the U.S., the company now operates in just 16 metros nationwide and purchased just 2,443 homes in 2024 (compared to 9,000+ in 2022).[2]

Offerpad generally only buys homes that are:

• In fairly good condition
• Built after 1950
• Single-family homes, including townhomes, condos, and homes in gated communities
• Valued under $1 million
• On a lot no bigger than 1 acre
• Under clear ownership
• Vacant on the close date

Offerpad also purchases homes in age-restricted communities, but the maximum purchase price is usually $350,000.

The company doesn’t buy properties that are mobile, manufactured, or prefabricated or that have significant foundation or structural issues.

Opendoor: Broadest iBuyer coverage

As the nation's largest iBuyer, Opendoor is currently active in 50+ major U.S. markets spread across 26 states and Washington, DC. It purchased 14,684 homes in 2024 — six times as many as Offerpad.[3] 

Opendoor only buys homes that are:

• In good condition
• Built after 1930 (varies by area)
• Single-family homes or townhomes (condos and duplexes are eligible in some areas)
• Valued under $1.4 million (preferably $100,000–600,000)
• On a maximum 2-acre lot (1 or 1.5 acres in some areas)
• Under clear ownership
• Owner-occupied or vacant at closing

Opendoor also buys single-family homes in age-restricted and gated communities in certain areas. It can also buy homes with solar panels if the panels are owned outright.

Opendoor doesn't buy homes that:

• Are sold as a short sale or foreclosure
• Have unpermitted additions
• Are in flood zones
• Have significant foundation or structural issues
• Have septic systems or wells
• Are built with outdated materials
• Have damage from fires, floods, or other natural disasters

Knock: Provides bridge loans in 26 U.S. states

Knock operates statewide in 26 states and Washington, DC — although sellers who use its bridge loan can purchase a house anywhere in the US.

The company accepts most single-family homes, townhomes, and detached homes for its bridge loan program. Homes can be valued, or $2 million in expensive markets like California and Washington.

It doesn't accept homes that:

• Are bank-owned
• Are distressed
• Are in age-restricted communities
• Have significant foundation or water damage
• Have unpermitted additions
• Are second properties

Also, Knock won't make an offer on your home if there isn't enough recent sales data of similar homes in your area.

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