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Offerpad reviews in 2022: Is this a legit way to sell a house for cash?

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There are many reasons you may choose to sell your home for cash, though in general, the person who benefits most from a cash deal is a seller who has few other options, says Erik Wright, owner of New Horizon Home Buyers, based in Huntsville, Ala.

“Typically, the person who benefits by selling to a cash buyer is someone that is referred to in the industry as a ‘distressed seller,' which means the seller is encountering some sort of hardship that makes it difficult to sell the house with a realtor on the MLS (multiple listing service),” Wright says.

Offerpad is one of the companies that buys houses for cash. Here is our Offerpad review:

What is Offerpad?

Offerpad was started in 2015 as an iBuyer, or “instant” buyer, a company that buys homes from sellers in cash. Today, the company still makes instant cash offers (Offerpad Express) but also facilitates agent-assisted home sales (Offerpad Flex). 

The company claims to have bought 30,000 homes in 16 markets, totaling $7 billion in revenue. Offerpad is also a brokerage and has its own real estate listings, as well as title and mortgage services. 

Unlike traditional real estate brokers, Offerpad provides a cash offer guarantee to all of its sellers, whether they choose to accept it or decide to list their homes with an Offerpad agent. They also offer additional perks like renovation advances, listing services, and free moving assistance.

Offerpad reviews in 2022

Offerpad reviews are mostly positive for home sellers, though people who have tried to buy an Offerpad property cite high prices and a difficult communication process. 

Offerpad reviews on the BBB:

Offerpad is accredited with the Better Business Bureau and boasts an A+ rating. It has 4.14/5 stars based on 180+ reviews. Offerpad's own user surveys report a 93% satisfaction rating, and many positive customer reviews.

Offerpad reviews on Trustpilot: 

Offerpad has 4.6/5 stars on Trustpilot based on 160+ reviews, with numerous reviewers citing money and time saved in the home sale process. Most negative reviews are from people whose home didn’t qualify to sell with Offerpad.

Offerpad reviews on Reddit:

There are both good and bad Offerpad reviews on Reddit. Most posters say the offers they received are higher than they expected, though people do warn that Offerpad inspections often lead to expensive required repairs.

Here are a couple Reddit threads that show first-hand experiences: 

What types of properties does Offerpad buy?

Offerpad buys the following properties: 

  • Single family homes
  • Condos and townhomes
  • Homes built after 1960
  • Homes valued at less than $1 million (varies by market)
  • Homes on one acre or less of land

What kinds of properties will Offerpad not buy?

Offerpad will not buy the following properties: 

  • Homes outside of designated service areas
  • Manufactured, pre-fabricated, or mobile homes
  • Double escrow properties
  • Homes that are still occupied at the closing date (unless the sellers have agreed to an extended stay). 
  • Homes with significant foundation, structural or other condition issues

Can I negotiate with Offerpad?

If you don’t believe Offerpad’s initial offer is fair, you can discuss with your Offerpad advisor why you think your home is worth more and try to negotiate a higher price. That doesn’t necessarily mean you will get it, but Offerpad will re-evaluate your property based on the information you provide.

How Offerpad’s selling process works

Offerpad offers two selling options, Express and Flex. This is how each process works. 

Offerpad Express: 

  1. Go to offerpad.com.
  2. Input all the info about your home — videos and photos are a plus. Offerpad recommends providing a video walkthrough of your home to point out specific features and get a more competitive offer. 
  3. Get a cash offer from Offerpad’s experts within 24 hours.
  4. If you are happy with the initial offer, you can accept it and set a closing date for your home. You can also ask Offerpad to reevaluate your home if you don’t feel the offer is fair.
  5. Choose a closing date between 24 hours and 90 days from the time you accept your offer. Offerpad offers extended stay up to three days beyond the closing date if you have to stay in your home and provides free local moving services. 

Here's a video that explains the Offerpad Express process:

Offerpad Flex: 

  1. Go to offerpad.com/flex and enter details about your home.
  2. Offerpad will provide a suggested listing price for your home and an Offerpad Express cash offer. 
  3. Offerpad Flex is similar to a typical home sale in that you work with an agent (Offerpad calls them Solutions Experts) to prepare your home for sale and list it on the Multiple Listing Service (MLS). 
  4. Offerpad offers advance funds for home repairs (with no interest or cash upfront) and free services to prepare your home for sale, including carpet cleaning, deep house cleaning, handyman  services, landscape cleanup, and pool services.
  5. If your home doesn’t sell or you decide you no longer want to sell on the market, you have up to 60 days to accept Offerpad’s cash offer instead.

Here’s a video that explains the Offerpad Flex selling process: 

What if I am listed with an agent, can I still sell to Offerpad?

While you don’t need an agent to sell your home to Offerpad, they will work with your agent directly if your home is currently listed. Your agent can submit an offer request on your behalf and work with Offerpad to close on your home at a price you accept.

How long is an Offerpad offer valid?

Because home values are always changing, Offerpad offers typically expire within four days. You can renew your offer once it’s expired, though the price may be higher or lower depending on the current market conditions. In rare cases, Offerpad may no longer be able to provide an offer on your home.

Are Offerpad’s offers legit?

Yes, Offerpad presents a legitimate offer for your home based on the information you provide and its current market value. 

What are the benefits of selling to Offerpad?

Offerpad promises these benefits:

  • No showings! When you sell with Offerpad, you don’t have to prepare your home for sale. 
  • Closing dates from 8 to 90 days (depending on your state). Once you’ve been presented with an offer, you can choose to accept it or ask Offerpad to reevaluate your home if you don’t think your offer is fair. 
  • You can stay in your home up to 3 days after closing so you don’t have to close and move on the same day.
  • Free local move within 50 miles if you choose Offerpad Express.
  • Listing services through Offerpad Flex. If your home doesn’t sell or you change your mind, you can take advantage of Offerpad’s cash offer. 

What are the cons of Offerpad?

Like some local investors, Offerpad may request repairs or lower the offer price on your home before the sale is finalized based on its inspection. Offerpad has a reputation for only being interested in homes that require minimal repairs.

Offerpad alternative: Mortgage refi

What are Offerpad’s fees?

Offerpad’s service fees range from 4-7% vs. the usual 6% realtor fee. Offerpad has to pay closing costs when they eventually sell your home on the market, including buyer’s agent fees, holding costs, maintenance fees, taxes and marketing costs.

However, Offerpad's proposition suggests their model will actually cost less than 2% when compared with selling on the market — as well as time and headache:

Offerpad review comparison chart.

Get a quote from Offerpad now >>

Where does Offerpad buy homes?

Offerpad works in 17 metro areas at this time:

  • Phoenix, AZ
  • Tucson, AZ
  • Birmingham, AL
  • Jacksonville, FL
  • Orlando, FL
  • Tampa, FL
  • Atlanta, GA
  • Las Vegas, NV
  • Charlotte, NC (including neighboring parts of South Carolina)
  • Raleigh, NC
  • Austin, TX
  • Dallas-Fort Worth, TX
  • Houston, TX
  • San Antonio, TX
  • Denver, CO
  • Nashville, TN
  • Indianapolis, IN

Bottom line: Is Offerpad a good way to sell a house for cash?

Most homes benefit from being sold on the market with the help of a Realtor. However, there are some houses, and some sellers, who should consider a cash sale to a quality buyer or investor. Offerpad is a good option if: 

  • Your house is in need of major repairs, and you have few interested buyers.
  • You are behind on mortgage payments, are facing a tax lien or are already in foreclosure.
  • You are going through a divorce, and selling your house for cash makes the divorce settlement fast and easy.
  • You need the money quickly.
  • You don't have the time, inclination or patience for showings, negotiations or contingencies.
  • You are eager to buy another property, and without a fast cash sale of your current house, you may miss out on your dream home.

Offerpad is a quick and easy way to sell your house for cash. We recommend Offerpad because of its A+ BBB score and hundreds of positive online reviews. We also like that Offerpad provides multiple options for selling your home, as well as mortgage financing and interest-free repair advances.

Get a quick quote from Offerpad now >>

Check out these other helpful financial resources:

What is Offerpad?

Offerpad was started in 2015 as an iBuyer, or “instant” buyer, a company that buys homes from sellers in cash. The company claims to have bought 30,000 homes in 16 markets, totaling $7 billion in revenue. Offerpad is also a brokerage and has its own real estate listings, as well as title and mortgage services.

What types of properties does Offerpad buy?

Offerpad buys the following properties: single family homes and condos built after 1960.

Can I negotiate with Offerpad?

If you don’t believe Offerpad’s initial offer is fair, you can discuss with your Offerpad advisor why you think your home is worth more and try to negotiate a higher price.

What if I am listed with an agent, can I still sell to Offerpad?

While you don’t need an agent to sell your home to Offerpad, they will work with your agent directly if your home is currently listed. Your agent can submit an offer request on your behalf and work with Offerpad to close on your home at a price you accept.

How long is an Offerpad offer valid?

Because home values are always changing, Offerpad offers typically expire within four days.

Are Offerpad’s offers legit?

Yes, Offerpad presents a legitimate offer for your home based on the information you provide and its current market value.

What are Offerpad’s fees?

Offerpad’s service fees range from 4-7% vs. the usual 6% realtor fee.

Wealthysinglemommy.com founder Emma Johnson is an award-winning business journalist, activist, author and expert. A former Associated Press reporter and MSN Money columnist, Emma has appeared on CNBC, New York Times, Wall Street Journal, NPR, TIME, The Doctors, Elle, O, The Oprah Magazine. Winner of Parents magazine’s “Best of the Web” and a New York Observer “Most Eligible New Yorker," her #1 bestseller, The Kickass Single Mom (Penguin), was a New York Post Must Read. As an expert on divorce and gender, Emma presented at the United Nations Summit for Gender Equality and multiple state legislature hearings. More about Emma's credentials.

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