Offerpad Review: Everything You Need to Know

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By Katy Byrom Updated May 3, 2024

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Offerpad advertises a fast and flexible home selling model that lets you choose between accepting a cash offer right away or listing your home with an Offerpad agent and receiving a cash advance for home prep and repairs. 

You can get an initial offer within 24 hours of submitting your property details and choose your own closing date within an 8–90 day window.

If you accept Offerpad's cash offer, you'll pay a 5% service fee, plus repair charges and traditional closing costs of about 1%. It's important to note that Offerpad's initial offer is subject to change. 

Our Offerpad rating

⭐️ Our Offerpad rating3.85/5 🟡
Service quality4.0/5 🟡
Offer quality4.0/5 🟡
Fees and other costs3.75/5 🟡
Customer reviews and complaints3.75/5 🟡
Credibility3.75/5 🟡
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Ratings based on 1–5 scale, with 5 being the best. Learn more about our methodology.

Is Offerpad worth it?

Pros

  • Get a fast cash offer and choose your own closing date
  • Sell as is - no need for repairs or spotless showings
  • Free local moves and a 3-day grace period if you need more time to move
  • Offerpad helps with repairs and home prep if you decide to list

Cons

  • Offers less than fair market value
  • Unpredictable repairs costs
  • Strict purchase criteria (i.e., no major repairs needed)
  • Last-minute contract cancellations are becoming more common

Offerpad is a decent option if your priorities are to sell quickly and avoid the inconvenience of repairs and showings. 

Because iBuyers like Offerpad target homes in relatively good condition that they can quickly turn around and relist, their offers also tend to be more competitive than traditional 'we buy houses' companies — but still less than market value. 

Offerpad's 5% service fee is in line with competitors and about what you'd pay in agent commissions when selling with a realtor. However, Offerpad's repair fees can lower final offer amounts by tens of thousands of dollars, whereas repairs are negotiable in a traditional home sale.

While many customers have had positive experiences with Offerpad, more recent reviews tend toward the negative, mostly due to lower-than-expected offers, a lack of transparency around repair deductions, and last-minute attempts on the part of Offerpad to lower offers or cancel contracts completely. 

It’s in your best interest to compare Offerpad's offer against those of other cash buyers before accepting and have a good idea of your home value going in. Doing so will give you more negotiating leverage and maximize your chances of getting a fair price.

Take the guesswork out of selling your house

Get competing offers from leading cash home buyers to see what your house could really sell for. Comparing offers is free, and there's no obligation to move forward. Simply tell us about your property, and we'll do everything we can to get you the best possible price for your home.

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Offerpad vs. alternatives

Opendoor | Other cash buyers | Buy-before you sell companies | Traditional listing

Offerpad vs. Opendoor

Among iBuyers, Opendoor is Offerpad's main competitor — providing home sellers with fast cash offers and the ability to close on their timeline. Both companies charge a 5% service fee, but unlike Offerpad, Opendoor doesn't charge a cancellation fee if you change your mind about accepting its offer. 

Where Offerpad stands out is in providing a more flexible closing window of 8–90 days, compared to Opendoor's 10–60 day window. Offerpad also offers perks like free local moves and a 3-day extended stay if you need extra time to move out. However, Opendoor is more widely available, operating in about twice as many locations.

According to customers we've talked to, it's a toss up whether you'll get a higher offer from Opendoor vs. Offerpad. However, Offerpad's more thorough inspection process may take a larger bite out of the initial offer price. 

Both companies have similar complaints from buyers regarding the poor quality of repairs done on the homes they have purchased.

Offerpad vs. other cash buyers

Compared to 'We Buy Houses' companies and local investors, iBuyers like Offerpad tend to pay closer to market value and could offer a better deal on your home. However, top cash buyers are typically willing to purchase homes in any condition, are more widely available, and tend to waive any service fees, realtor commissions, or closing costs.

A cash offer platform like Clever Offers can help you find the most competitive price from various cash buyers, ranging from iBuyers like Offerpad to local investors. The service is free to home sellers, so it's worth seeing what kinds of deals their team can help you find.

Offerpad vs. buy-before-you-sell companies

Buy-before-you sell platforms like Orchard and Knock offer a cross between a traditional listing and a cash offer.

When you need the proceeds from your current home to buy a new one, they'll front you a portion of your current home equity to make a non-contingent offer — making it much more attractive to the seller.

Once you've closed on your new home, they'll work with you to list your current property at full market value and guarantee the sale with a backup cash offer if you don't find a buyer within the listing period.

With a buy-before-you-sell service, you can skip the stress of trying to line up closing dates or find temporary housing if there's a gap between your move dates. You also avoid having to show your home while you're still occupying it.

The downside of using a home trade-in service is that they charge service fees (usually 2–2.5% of your home sale price) on top of typical realtor commissions and closing costs, which makes your buying/selling costs more expensive. Their backup offers are also worth less than fair market value — usually in the ballpark of 80–85%.

Offerpad vs. traditional agent listing

Working with a conventional realtor won’t be as fast as working with an iBuyer, but getting an agent is often the best way to maximize your home’s selling potential — simply because they have the tools to expose your house to a larger pool of buyers.

While the typical real estate agent charges a 2.5–3% listing fee, many realtors will list and sell your house for a discounted rate. The best low-cost realtors offer the same service as a full-commission realtor for as little as 1.5%, saving you thousands on real estate fees. Often, realtors offer lower commissions as a way to gain new clients or earn repeat business.

We recommend interviewing a couple of agents to see what they can do for you before accepting a lower offer from Offerpad. Depending on your priorities, an agent may suggest listing your home as is, so you can avoid repairs while still getting a better value for your house.

Our in-depth Offerpad review

Service quality

📊 Our rating: 4/5
  • Good perks for home sellers, including fast offers, flexible closing dates, and free local moves
  • Last-minute contract cancellations have left some sellers in the lurch
  • Home sellers who choose to list with Offerpad generally have positive things to say about the process
  • Buyers report delayed closings and lack of repairs promised during negotiations

Among iBuyers, Offerpad stands out for its perks, which include a flexible closing window of 8-90 days, free local moves, and free home prep services for those who opt to list with an Offerpad agent.

Past Offerpad customers have praised the company’s dependability — saying that Offerpad worked just as advertised, allowing them to sell fast and without any unwanted surprises. However, more recent reviews point to service quality issues, including a number of last-minute cancellations on Offerpad's part. 

"The day before closing they casually called me up to inform me that they were canceling our contract, said this Offerpad reviewer in April 2024. "We had moved out of our house and were waiting on the proceeds from our house to wire to our new home...I asked them why [and] they said they thought our condo was a three bedroom not a two bedroom. We did not misinform them of that. In addition, they did an inspection."

Offerpad home buyers complain of unfilled contractual obligations and a lack of responsiveness in addressing complaints: "Horrible experience with Offerpad! They failed to deliver a house on the closing date…They promised multiple repairs would be completed on time but they were not and their workmanship was shoddy…When you call their corporate office all you get is a recording and no one returns your calls."

Those who opt to list with Offerpad generally have positive things to say about the service provided by their agents, but customer satisfaction by location. For example, while Offerpad's Tampa location has a 4.4/5 customer rating, its Atlanta location has an average rating of just 3.4.

Offer quality: Does Offerpad make good offers?

📊 Our rating: 4/5
  • Offers are above what an investor would pay, but typically fall below market value
  • Offers can decrease drastically after inspection or due to changing market conditions

While some home sellers claim to have received fair cash offers from Offerpad, customers increasingly complain of offers well below market value.

Home seller Cameron T. shared this about Offerpad's offer: “Though the process is fairly easy to get an offer, their offer is rather insulting. On my house, which is in great shape and needs no work, they offered less than we paid 2 years ago. And, on top of this, the offer was almost 12k less than their competitor's preliminary offer. My advice is just go to market.”

Even if you're happy with Offerpad's initial offer, the difference between the preliminary and final offer is often substantial. For example, one recent seller said that Offerpad “went from [a] $189,000 offer to $148,000 after [an] inspection.”

The company also reserves the right to adjust its offer price anytime before closing. Jeni W. from Waxahachie, TX, stated that her cash offer dropped $20,000 before the inspection was even performed due to changing prices in her market.

Because Offerpad's initial offer can drop so dramatically, we recommend seeking offers from competing cash buyers in your area and seeking a realtor's pricing opinion before making a decision.

Get competing offers from leading cash home buyers

Compare offers from trusted local investors, iBuyers, and more. Plus, get an expert realtor's opinion on what your house could sell for as is. Weigh your best options with no added fees or obligation to move forward.

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Offerpad fees and other costs

📊 Our rating: 3.75/5
  • 5% service fee is on par with competitors and average realtor commissions
  • 1% cancellation fee if the customer backs out of the deal
  • Repair costs can be shockingly high

When you use Offerpad, you'll spend about 5% of your home's selling price on service fees, comparable to average realtor commissions and on par with competitor Opendoor. You'll also pay typically closing costs of about 1%.

However, repair costs can easily be the highest of Offerpad's fees — and the company's repair estimates vary widely, so it’s hard to predict what they will cost you.

One Offerpad customer, Bradley Carpenter, whom we spoke to via Zoom, initially accepted the company’s cash offer but turned it down after he received a $40,000 repair quote. He ended up selling to Opendoor, which quoted him only $7,000 for the same repairs.

Some reviewers, such as Mark M. in Dallas, TX, also claim the company’s repair quotes come without an itemized repair list, making it challenging to price match with other contractors or negotiate if their home needs work. This is despite the fact that most professional inspectors provide a detailed list of issues uncovered during an inspection.

The lack of transparency over just how much repairs can lower final offer amounts may put sellers in a bind as they weigh whether to keep moving forward or cancel the deal and start over after waiting up to 10 days to receive their final offer amount.

If you choose to cancel your contract with Offerpad more than four days after the home inspection, you’ll typically pay a 1% cancellation fee — something they're not upfront about on their website.

Offerpad fees

Offerpad Cash offer
Service fee5%
Repair costsVary
Closing costs1–3%
Cancellation fee1%
List with Offerpad
Brokerage fee*5–6%, depending on market commission rates
Closing costs 1-3%
Seller concessionsVary, but typically 1–3%
Home improvement advance**Varies according to repairs and improvements made
*Takes the place of the service fee if you opt to list with Offerpad instead of accepting their cash offer **Applies only if you take advantage of Offerpad's home improvement

Offerpad reviews and complaints

📊 Our rating: 3.75/5
  • Customers who opt to list with Offerpad seem to enjoy the process
  • Customers have been disappointed with Offerpad's cash offer and high repair costs
  • Buyers complain of incomplete and poorly executed repairs

Offerpad holds an average customer rating of 4.0/5 across more than 2,700 reviews on sites like Better Business Bureau, Reviews.io, Trustpilot, and Google

While Offerpad reviews used to be mostly positive, they have been trending lower since 2023 — and complaints about Offerpad are becoming increasingly common.

The most satisfied customers praise Offerpad's easy selling process and the level of service provided by its agents. Those who were dissatisfied found problems with the company’s offers and lack of transparency over repair costs. Buyers also complain of poor quality work done on Offerpad homes they have purchased.

Positive Offerpad reviews

✅ Helpful listing agents for sellers

Offerpad provides two options for sellers: taking a cash offer or listing with an approved Offerpad agent. Sellers who choose to sell through an Offerpad agent seem pleased with their overall experience, citing a smooth process and helpful perks like home prep services.

Here’s how Alexandra G. from Las Vegas felt about the process: “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.”

Emily B. from Phoenix was also pleased with selling through an Offerpad agent, “OfferPad made my selling process so much easier with their landscape/handyman services and awesome photography team. My realtor Mike Burk was so friendly, knowledgeable and very responsive in all communications, he really made the experience feel hassle-free and I highly recommend working with him and OfferPad!”

✅ Smooth selling process

A fairly consistent theme in Offerpad’s positive reviews is the professionalism demonstrated by the team. Customers were especially impressed with how accessible the company reps were, which helped create an easy sale process.

As one customer on Trustpilot said, “The communication was stellar! Extremely friendly and kind team that guided me and never missed an email or a question I had.”

Another customer, noted, "Everything that was scheduled was done in a timely manner. This process went faster than selling the home with a realtor. There fees were about the same as regular closing fees. Why go thru the hassle of having people go thru your house, keeping the home spotless for showings and leaving your home, when Offerpad takes away the stress. Loved the process and the Atlanta employees were awesome!!"

Offerpad complaints

❌ Low offers

iBuyers like Offerpad offer the convenience of a fast cash sale in exchange for a lower offer. But even with that in mind, some potential sellers still felt like the company's cash offers were too low.

Trustpilot reviewer Kaleb recently had this to say about Offerpad's offer: "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."

Cameron T. from Denver had similar feelings about his experience with Offerpad, “Though the process is fairly easy to get an offer their offer is rather insulting. On my house, which is in great shape and needs no work, they offered less than we paid 2 years ago. And, on top of this the offer was almost 12k less than their competitor's preliminary offer. My advice is just go to market.”

 ❌ Unreasonable repair costs

While some Offerpad customers are satisfied with the company’s cash deals even after adjusting for potential repairs, many home sellers feel that the steep repair costs are unjustified. 

For example, one seller said, “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.“

JW from Las Vegas said this about the deal process: “They give you an offer, everyone agrees, signs the documents, then the inspectors come. The actual inspector told us we only needed to replace a couple [spigots] that had corroded and trim trees...Offerpad sends their list of "repairs" AKA remodels of $19,000!

❌ Last-minute price adjustments and contract cancellations

While part of the appeal of selling to Offerpad is the promise of a guaranteed cash sale, complaints about last-minute contract cancellations have increased in frequency since 2022. Several customers also mentioned that Offerpad tried to lower their offers before closing due to "changing market conditions."

"They made us an offer on our house on a Friday," explains this Offerpad reviewer on Trustpilot. "All weekend, they pressured us to sign, waived the 1% cancellation fee, etc. The next Tuesday, spoke to their rep to answer a few questions we had and we signed the purchase agreement minutes after our call with their rep. One hour later, they call us back saying they wouldn't be continuing further. Their reason, the market conditions had changed. They'd be happy to provide us with an adjusted offer. No thanks."

Past sellers have even accused the company of using bait-and-switch tactics to rope sellers in with a high initial offer only to lower it once they are too far into the process to cancel without hassle.

"They WILL lower your offer by $25,000!!" said Trustpilot review John Paul. "They make good sounding promises in the beginning and when you are close to closing they will start finding many reasons to cut the price by more than half!! Terrible terrible terrible service."

❌ Buyers complain about the quality of repairs

Among the complaints, we found a common thread of dissatisfaction with Offerpad's repairs. Several Offerpad reviews report that the company promised multiple repairs that were either subpar or left incomplete.

For instance, this home buyer said, “I wish I could leave photos here to show just how bad some of the work was done. New cracked tiles on the countertops and floor, raw unpainted wood on eave replacement, paint on the skylight from roofing work.”

Buyers especially thought that the repair contractors provided low-quality repairs, which led to unexpected expenses for the new homeowners.

For example, one buyer complained, “The brand new AC unit that Offerpad said [they] put in was so badly damaged due to poor installation that it does not work at all. So I have to pay to have an entire brand new unit installed because of either Offerpad's dishonesty with the repair or poor choice of contractors.”

Credibility

📊 Our rating: 3.75/5
  • Surprise repair costs, which can significantly lower offers
  • Several home buyers complain of incomplete or low-quality repair work
  • 1% cancellation fee isn't disclosed upfront

Launched in mid-2015, Offerpad was the second-ever iBuyer after Opendoor, and it's still the second-largest iBuyer in the country. It has more than 2,700 verified customers reviews and is traded on the New York stock exchange.

However, a primary complaint among Offerpad customers is its lack of transparency over repair costs. In several cases, customers have agreed to what sounds like a decent offer only to find it lowered by tends of thousands of dollars following Offerpad's home inspection — with no clear justification at how they arrived at their final amount. 

For example, Google user Charlene Toelle had this to say about working with Offerpad: "They give you a fair offer, & charge a 5% service fee. Then they send a building inspector that nit picks every little thing. They charged $29,000 in repairs & didn't complete anywhere near that amount in repairs. They don't negotiate much & run the clock with their final offer, putting your purchase in a timing crunch."

Other customers have complained that Offerpad is not upfront about its 1% cancellation fee, which puts them in a bind if they want to cancel their contract after receiving a low final offer.

"When you sign an agreement, have a provision to be able to back out after inspection, since they put a hidden clause in the contract that you pay them 1% of the contract price," cautioned these home sellers on Trustpilot, who had their initial Offerpad offer lowered significantly after a 10-day inspection period. "This is status quo for them to provide a high offer, then wait till last minute for pressure and give you a $50,000 dollar less offer."

How Offerpad works

Sell to Offerpad | List with Offerpad | Buy from Offerpad | Additional services

Selling via Offerpad's Express Cash Offer

Offerpad’s main service is an iBuying program called Offerpad Express, where you sell your house directly to Offerpad for cash. The company gives you a quick cash offer and lets choose a closing date between 8 and 90 days out.

Accepting Offerpad’s cash offer costs 5% in service fees, plus 1–3% in traditional closing costs (like escrow and attorney fees). You'll also need to cover any repairs Offerpad identifies during its home inspection.

Here's how the program works.

Step 1: Submit your information

To receive an initial cash offer, submit your address and contact info online.

The website will guide you through the process, prompting you to provide your desired closing date and the following information about your house:

  • Desired closing date
  • Year the home was built
  • Square footage
  • Layout
  • Permitted and unpermitted additions
  • Countertops and flooring
  • Appliances
  • Landscaping

Offerpad’s database will autofill most of the information for you. Still, there are some questions only you will know the answers to — including questions about your home's specific features and the type of community it's located in.

The process is pretty simple and should only take a few minutes.

Step 2: Accept the offer

After you complete the online form, the Offerpad team will review your submission and send you the initial cash offer — contingent on home inspection. You’ll have 48 hours to accept or decline the offer. (You can renew your offer if it expires, but the price may change may change.)

Once you accept the offer, you will need to sign a legally binding contract through DocuSign or HelloSign on behalf of Offerpad.

If you aren’t happy with Offerpad’s original offer, you can contact the company’s customer service team for more information about its evaluation criteria or to point out anything that was overlooked during the process. But there’s no guarantee that the offer will increase.

Step 3: Complete the inspection

Offerpad will send a third-party home inspection service to your property within 15 days of receiving your initial offer.

This inspection process is the same as a traditional home sale. The inspector will investigate every part of your home to determine if there are any issues like water damage, foundation problems, or general wear and tear.

Offerpad requires the homeowner to be present for inspections, so it’s a good idea to follow along with the inspector and ask questions about how he is evaluating your property. This information can prepare you for potential repairs that may need to happen before closing.

Step 4: Receive an updated offer

After the inspection, Offerpad will provide an estimated cost of any necessary repairs.

At this point, Offerpad might adjust its cash offer — or back out entirely if the inspection reveals that your home doesn’t meet its criteria.

If you decide to move forward, you’ll have options for how to proceed:

  • Agree to pay a repair credit equivalent to Offerpad's estimated repair costs
  • Agree to hire a contractor to make the repairs to Offerpad’s specifications
  • Cancel the purchase agreement without penalty

Note that for especially pricey repairs, you may be required to agree to Offerpad’s repair credit to proceed with the transaction.

Our conversations with Offerpad employees revealed something important to consider. If you want to reject Offerpad’s updated offer, you only have four days to do so — after which you’ll be charged a cancellation fee equivalent to 1% of the offer price.

The fee is not disclosed on Offerpad’s website or in its terms of use.

This is a tight window that will make it difficult to conduct your own inspection, receive estimates from contractors, or negotiate with Offerpad.

Step 5: Close

One of Offerpad’s key benefits is a flexible closing date. You can schedule your closing date 8–90 days after accepting Offerpad’s cash offer.

You can also arrange to stay in your home up to three days after closing through the company’s Extended Stay program.

Two days before closing, Offerpad will schedule a walk-through to ensure all repairs have been completed. Unfinished or inadequate repairs could delay closing.

If everything looks good, you can proceed to the closing table. You’ll be responsible for paying closing costs (typically 1–3% of the purchase price).

At closing, you’ll receive a check for your net proceeds — the cash offer price, minus Offerpad’s service fee, closing costs, and any repair credits.

What kinds of homes does Offerpad buy?

Offerpad buys properties that are:

  • In relatively good condition
  • Constructed after 1950
  • Single-family residential homes, including townhomes, condos, and homes in gated communities
  • Valued under $1 million (depending on the market)
  • On a lot up to 1 acre
  • Under clear ownership (no double escrow)
  • Vacant on the close date

Offerpad also purchases homes in age-restricted communities that cost up to $350,000.

Properties that don't qualify for Offerpad's cash offer include:

  • Homes outside of the company’s service area
  • Manufactured, prefabricated, or mobile homes
  • Homes with significant foundation, structural, or other conditional issues
  • Homes not vacant on the closing date

Offerpad's cancellation policy

Offerpad charges a 1% cancellation fee if you back out of the purchase agreement. This 1% penalty could cost hundreds or even thousands of dollars. Offerpad’s main competitor, Opendoor, doesn't charge a cancellation fee.

If Offerpad changes your offer or requires you to cover repair costs, then you can cancel without paying a fee. An Offerpad representative told us that the window for canceling penalty-free is four days. Some sellers have been able to work with Offerpad’s customer service to have the fee waived.

Listing your home via Offerpad Flex

Offerpad's Flex program allows you to list your home for up to 60 days on the open market with an Offerpad real estate agent. If your house doesn’t sell, you have the guarantee of a cash offer in your back pocket.

Listing through Offerpad comes with a 6% brokerage fee, which covers both the listing fee and buyer's agent commission — both are typically paid by the seller.

Offerpad will provide staging and cleaning services to get the house in market-ready condition. You can also take out an interest-free loan from Offerpad for improvements like painting, flooring, and new appliances. You'll pay back the loan at closing.

Step 1: Request an offer

The first step is to answer questions about your home online, just as you would with the Offerpad Express program. You have the chance to submit photos of your home to help Offerpad produce an accurate price estimate.

Step 2: Get the home ready for showings

Offerpad will pair you with a listing agent to help you prepare your home for sale. You'll also get help with cleaning, landscaping, and handyman services so your home looks its best. You also have the option of taking out an interest-free loan for repairs.

Step 3: Find a buyer (or take the cash offer)

If you find a buyer during your listing period, you’ll close on your home like a traditional sale.

However, you can take Offerpad’s initial offer anytime during those 60 days. You will sign the purchase agreement, deduct the total of your repair loan, and have your home inspected. Offerpad may adjust the offer after the inspection or require additional repairs.

Buying a house from Offerpad

Buying a house from 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 doesn't charge buyers any fees, but you'll be responsible for the down payment, inspection fee, appraisal fee, and closing costs. If you're using an agent, you may also be responsible for paying their commission.

Customers report that Offerpad doesn’t always do a great job repairing homes before relisting them. For example, one buyer claimed that Offerpad “promised multiple repairs would be completed on time but they were not or the workmanship was shoddy.”

If you’re considering buying a house from Offerpad, we suggest getting a detailed inspection before making an offer and having a lawyer or real estate agent on hand to review the paperwork. That way, you have the best chance of spotting issues early on and protecting yourself in case Offerpad doesn't live up to their end of the deal.

Step 1: Prequalify for an Offerpad Home Loan

To buy through Offerpad, you must prequalify for a mortgage.

During this phase, you’ll need to have your financial information ready to go, including your financial history, credit score, and current debt. A lender will review your self-reported information and recommend the home loans you may qualify for.

Step 2: Browse homes online

Screenshot of buying from Offerpad.

Similar to Zillow or Redfin, Offerpad has an online portal listing available homes in a given area.

You can filter results based on your criteria, such as the number of bedrooms or the square footage.

Step 3: Download the app

While most home sellers require buyers to tour a home with a realtor, Offerpad allows prospective buyers to see properties through self-guided showings.

Once you download the Offerpad app and verify your identity, you can use your smartphone to unlock Offerpad properties you’re interested in.

You can view homes any time between 6 a.m. and 8 p.m., seven days a week.

Step 4: Make an offer

If you find your home through Offerpad, you can make an offer with or without an agent’s representation. If you already have an agent, you may be responsible for paying their commission.

Offerpad may recommend getting a home loan through Offerpad Mortgage. However, you’re not obligated to do so, and you can shop around for the best rates.

Step 5: Close

If you’re buying a home directly from Offerpad, you can schedule the closing at your convenience — which can help you coordinate the timing if you’re also selling your home.

Offerpad uses third-party vendors for title services, depending on your location.[1]

Additional Offerpad services

Offerpad Home Loans

Offerpad offers flexible mortgage services if you want to buy a new home. Perks of the service include 10% down payments, a simplified application process, and down payment help for applicants with good credit.

You can also receive credits on your loan if you buy through Offerpad. However, it's important to shop around, since Offerpad Mortgage may not offer the best rates.

Offerpad’s home loan service is available for residents in the following states:

  • Alabama
  • Arizona
  • Colorado
  • Florida
  • Georgia
  • North Carolina
  • Tennessee
  • Texas

Offerpad Rewards

You can bundle any of Offerpad’s services for a discounted rate.

Bundling two services, like buying + selling or buying + home loan, will earn you a $2,000 credit on Offerpad’s services. If you bundle all three of their services, you’ll receive up to a $4,000 credit.

While bundling may give you a discounted rate, you aren’t obligated to do so.

Free local move

If you’re moving within a 50-mile radius, Offerpad will cover the cost of your move through a third-party moving company.[2] The estimated value is $299–1,077, depending on the size of your home.[3]

This program is only for homes up to 2,800 square feet and up to 13,000 pounds. If your home exceeds these limits, you can purchase services directly from the moving company. Note that packing services aren't included in the free local move.

You may need to notify Offerpad at least 7–21 days before the close of escrow that you intend to use the free local move.

Extended Stay

Offerpad allows sellers to stay in their old home for up to three days after closing,[4] providing some breathing room for a less stressful move.

To be eligible, you’ll first have to complete a post-possession addendum. This contract allows you to legally remain on the premises after selling your home, and it outlines the specific dates and deadlines you’ll have to abide by.

If you take advantage of this option, Offerpad will temporarily withhold a security deposit from the proceeds of your home sale. Once you vacate the home, Offerpad will inspect the property to make sure it’s in good condition and release the funds back to you.

Opendoor has a similar service called Late Checkout that allows you to stay up to 17 days, but you'll need to pay a security deposit and daily rent based on a percentage of the home's value.

Offerpad locations

Offerpad’s services are available in 14 states and 23 metros across the US. The states Offerpad operates in include:

  • Arizona
  • Colorado
  • Florida
  • Georgia
  • Illinois
  • Indiana
  • Kansas
  • Missouri
  • Nevada
  • North Carolina
  • Ohio
  • South Carolina
  • Tennessee
  • Texas

Frequently asked questions about Offerpad

What is Offerpad?

Offerpad is an iBuyer that provides cash offers to sellers in over 20 US cities. The company also sells homes and offers an MLS listing service.

Like other iBuyers, Offerpad aims to streamline real estate transactions. Using proprietary technology and an in-house team, Offerpad promises to provide cash offers within 24 hours and allow sellers to close in as little as 8 days.

However, these perks can come at a cost. Offerpad doesn’t pay fair market value, so its customers sacrifice the opportunity to potentially net more on the open market. Learn more about Offerpad.

Is Offerpad legit?

Offerpad is a legitimate business that buys and sells homes. Founded in 2015, it is now the second-largest iBuyer in the country after its main competitor, Opendoor. Read more about what makes Offerpad a legitimate business.

Does Offerpad have good reviews?

Offerpad has historically good reviews, but ratings have been declining since 2023. While some customers praise Offerpad’s hassle-free approach to cash offers, others feel the reduction in offer price after inspections amounts to a bait and switch. Learn more about Offerpad reviews.

Where does Offerpad buy homes?

Offerpad buys homes in over 20 US cities across AZ, CO, FL, GA, IL, IN, KS, MO, NV, NC, OH, SC, TN, and TX. Learn more about Offerpad's service areas.

How does Offerpad make money?

Offerpad makes money by buying homes in areas with high buyer demand and then reselling them for a profit. It also charges sellers a 5% service fee.

Offerpad also provides home loans through Offerpad Mortgage, which allows it to make money via fees and interest.

Finally, Offerpad recently announced a partnership with Anywhere (formerly Realogy). Anywhere owns several real estate brands and brokerages, including Century 21, Coldwell Banker, and Sotheby’s International Realty. Offerpad sends Anywhere agents referrals for sellers who contact Offerpad but are outside of its iBuying markets (presumably in exchange for a fee).

What fees does Offerpad charge?

In total, you’ll spend 7–10% of your home’s purchase price on service fees and closing, plus a variable repair fee. In some cases, you may also encounter a 1% cancellation fee. Learn more about Offerpad's fees.

Does Offerpad negotiate with buyers?

Offerpad intends to make a profit on each home it purchases. You can try to negotiate a lower price if you believe Offerpad has overpriced the home you're looking at. However, you may not have much success.

Offerpad uses its own research and valuation models to price houses. The listing price reflects the cost of repairs and other expenses incurred while Offerpad held the home, plus current local real estate trends. Learn more about buying a house from Offerpad.

Methodology

We evaluate each company that buys houses for cash based on four core criteria and create a weighted score:

  • Service quality (20% of final score)
  • Offer quality (20% of final score)
  • Fees and other costs (20% of final score)
  • Customer reviews (20% of final score)
  • Credibility (20% of final score)

Service quality

Customer experience. 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. 

Offer quality

Price. While nearly all cash buyers pay less than market value for homes, we look at how competitive the company's offers are compared to similar companies.

Purchase criteria. We also look at the company's purchase criteria to see how flexible and accommodating they are in making offers. Companies that offer a fair price for homes that other buyers won't purchase can still get a high rating for offer quality.

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.

Customer experience

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 take note of whether a company is actively involved in resolving customer complaints.

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.

Article Sources

[1] Offerpad – "Questions about selling". Accessed May 4, 2022.
[2] Offerpad – "Free local move". Accessed February 10, 2021.
[3] Thumbtack – "How much do movers cost?". Updated October 6, 2020. Accessed February 10, 2021.
[4] Offerpad – "Offerpad’s extended stay". Accessed February 10, 2021.

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