Offerpad is the nation's second largest iBuyer, behind competitor Opendoor. As a home seller with Offerpad, you can decide between two primary options: A direct cash offer or a traditional listing with a backup cash offer.
The company is known for offering unique perks with its cash offers — including flexible closing dates, free local moves within 50 miles, and up to three extra days in your home if you need more time to move.
However, Offerpad offers typically fall short of market value. The company also deducts the full cost of any repairs or improvements it thinks your home needs, which many customers complain are unreasonable. Offerpad also isn't as highly rated as competitors offering similar services.
If you want to avoid the traditional listing process, and don't mind sacrificing some potential profit to do it, Offerpad is worth considering. Requesting an offer is free, and you're under no obligation to accept it. However, most sellers go a different route. Offerpad bought just 1,210 homes in 2025 — less than a 5th of what it bought at its peak in 2022.[1]
Before signing anything, check out offers from a few Offerpad competitors. To save time, you can start with a free service like Clever Offers, which helps you find the most competitive offers for your home. They can also give you a professional opinion of your home's market value without repairs. You might find that Offerpad's offer is in the ballpark or that another option gives you a better solution. Compare cash offers with no obligation and sell in as little as 7 days.
Offerpad at a glance
- ⭐️ Avg. customer rating: 3.88/5 (2,607 reviews)
- 🧰 Selling options: Cash offer, traditional listing
- 💰 Cash offer range: Somewhat competitive
- 💵 Service fee: 5%[2]
- 🚩 Active since: 2015
- 🤝 Annual home purchases: 1,210[1]
- 🌎 Locations: Select markets in AZ, FL, GA, IN, NV, NC, OH, SC, TX
Why Offerpad might work for you:
- ✅ You pick your closing date — anywhere from 8 –60 days. Super helpful if you need flexibility.
- ✅ No repairs or showings — they’ll buy your home as-is, so you skip the hassle and expense of fixing stuff up to make it show better to buyers.
- ✅ Free local move — they'll cover a move within 50 miles, which is a nice bonus and saves you money.
- ✅ Built-in backup plan — you can try listing your home with their agent and keep their cash offer as a safety net.
Why Offerpad might not be your best option:
- ⚠️ Below-market offers — Like other iBuyers, Offerpad usually offer less than what you'd get on the open market. Think 85-90% of market value, minus fees.
- ⚠️ Big repair deductions — Even though they buy as-is, they may still hit you with steep repair costs after their inspection — sometimes costing tens of thousands of dollars.
- ⚠️ 5% service fee — comparable to a standard realtor commission, but sellers still typically net less than on the open market due to below-market offers and repair deductions.[2]
- ⚠️ Agent consultation required — While Offerpad used to provide a mostly digital experience, you now must meet with an Offerpad HomePro (i.e., a licensed real estate agent from their partner network) during the inspection period to learn about your selling options and the associated costs.[3]
“Unless a seller is in major distress—like probate or an inherited property—I rarely see them take an iBuyer deal,” says Andrew Velez of Re/MAX Advisors in South Florida.
Given the tradeoffs, most sellers end up selling the traditional way. In fact, as of 2025, iBuyers (including leading competitors like Opendoor) account for less than 0.5% of home sales nationwide.[4]
How much does Offerpad pay?
| Offerpad price | Market value | Money left on the table |
|---|---|---|
| $293,436 | $324,925 | $29,346 |
Offerpad's cash offers can be unpredictable, but you're almost guaranteed to receive less than market value, especially when factoring in their service fees and repair costs.
"I have had a few sellers want cash offers, and so I've gotten quotes from some of these buyers," realtor Melissa Young told us by phone. "They are typically about 85–90% of actual retail value and their fees are typically higher than what I would even charge to sell it conventionally. I have never once had a seller actually take them up on their offer."
Our own analysis of 123 homes bought and sold by Offerpad since May 2023 found that Offerpad buys homes for an average of 13.89% less than it resells them for — meaning sellers lose out on about $69,450 in equity on a $500,000 home.
That's on top of service fees and repair deductions Offerpad already charges.
Offerpad fees and other costs
| Fee | Cash offer option | Listing option |
|---|---|---|
| 💰 Service fee | ~5% | 6%** |
| 🤝 Closing costs | 1–3% | 1–3% |
| 🛠 Repair costs | Varies based on inspection | Negotiated with buyer |
**Based on industry standards; actual listing commission is set by Offerpad partner agent. Includes an estimated 3% concessions paid by the seller to cover the buyer's agent commission, which typically ranges from 2.5–3% of the sale price.[5]
After briefly raising its cash offer service fee to approximately 8% following the launch of its HomePro model in mid-2025, Offerpad has returned to a flat 5% service fee — now matching its main competitor, Opendoor.[2]
However, the fee doesn't include repair charges, which are frequently cited in customer reviews as costing tens of thousands of dollars.[6][7][8] Repair fees are also relatively non-negotiable, since Offerpad reserves the right to cancel the contract if you don't agree to its requests. By contrast, research from Clever Real Estate shows that fewer than a third of recent home sellers made repair concessions to buyers — likely as a result of market conditions favoring sellers.[9]
When you get into these kinds of figures, it's worth comparing Offerpad's offer to some local companies that buy houses for cash. While investors typically only offer 60–80% of a home's after repair value, they won't charge you service fees or closing costs. Plus, you'll know the final offer upfront instead of having to wait for an inspection.
Sellers who opt for a traditional listing will pay the prevailing commission rate set by their listing agent, although Offerpad indicates that sellers typically pay 6% — with 3% going to their listing agent, and 3% offered as a concession to the buyer's agent.
Top Offerpad alternatives
📍Find the best cash offer near you
When looking for a cash offer on a house, your best option may be local.
We researched hundreds of companies and compiled lists of the best local cash home buyers for all 50 states and Washington, DC.
Offerpad reviews: What customers have to say
| Source | Average Rating | Review Count |
|---|---|---|
| BBB | 1.9 | 29 |
| 4.1 | 2,207 | |
| Reviews.io | 2.2 | 66 |
| Trustpilot | 3.1 | 211 |
| Yelp | 1.6 | 70 |
| Zillow | 4.6 | 24 |
| Weighted Average: | 3.9 | 2,607 |
Offerpad’s reviews have been historically positive, but more negative reviews have started to appear since 2023. The company has an average customer rating of 2,607 online reviews — which is slightly lower than other cash buyers we recommend.
Most positive reviews praise Offerpad for a smooth home-selling process and helpful real estate agents — particularly among customers who opt to list with Offerpad rather than accept their cash offer.
Negative reviews highlight low offers, costly home repair credits, and Offerpad’s tendency to cancel contracts without warning.
We also found that Offerpad has higher ratings in the Charlotte, NC, Orlando, FL, and Tampa, FL metros. In contrast, customers in St. Louis, MO, Dallas, TX, and Kansas City, KS have fewer positive reviews.
Here are some of the common themes we see from Offerpad’s customer reviews:
Positive themes from Offerpad reviews
✅ Helpful selling agents
Customers who opt for Offerpad’s listing service over accepting a cash offer tend to be happier with the company — many praise Offerpad’s partner listing agents for their communication and empathy.
Selling your house is stressful. We decided in February to put our house on the market, we were skeptical, as 3 homes in our neighborhood were on the market and sitting there. Sonja Haltiwanger came through, told us what she wanted to list it for and it was pending in 3 weeks. It was a smooth transaction and she made it smoother.
I am extremely satisfied with the service Laura Bastien provided me in the sale of my home at 1215 E Kaler Dr. Her expertise, professionalism, determination, and dedication were so important to this successful sale, and I truly valued everything she brought to the experience.
✅ Hassle-free selling experience
When customers are happy with the overall experience at Offerpad, they have great things to say about the overall experience.
I didnt want to list my home on the *** but preferred a quick sale. I got quotes from competitors but chose Offerpad. *******, the attorneys, and all employees were professional, closing within 30 days. I selected my close date, and despite minor delays with documents from other agencies, I give them five stars. Id hire them again if I didnt want to sell my house myself.
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.
Offerpad complaints
❌ Unreasonably high deductions for repairs
Offerpad requires customers to sign a purchase agreement for a cash offer before a third-party inspection. However, the iBuyer often lowers the offer after the inspection, leaving many customers upset.
Was told a quote of 431k. Then after inspection, in which the guy who did the inspection said he found nothing, they offered 368k. We said that was way too low (market value is 472k) and they came back with 370 to 375 with manager approval. So we asked for 375k and they came back with 368k!!! Absolutely no integrity.
Absolutely dishonest company!! Nothing but click bait… Got and initial offer from the range of 506k to 613k and then they came back with 505k. It’s a three year old house. It was clear they were looking for any reason to devalue my home, even though it was in great condition. I would never recommend Offerpad to anyone looking to sell their home.
❌ Lower-than-expected offers
Offerpad makes money by investing in properties and turning them for a profit, but many customers find their pricing to be well below their home’s value.
Their final offer was 50k less than their estimated pre offer. And that was 80k less than comparable comps, appraisals, and 15k less than other companies offered
I would advise against collaborating with individuals who may potentially be scammers. It seems unreasonable for someone to offer 500k on a property valued at over 650k, and charging a 5% fee appears excessive. It may be wise to explore other options that offer more reasonable terms and ensure a fair deal.
❌ Contracts canceled without warning
The fine print in Offerpad’s contract gives the iBuyer the right to cancel contracts at any time, but multiple customers have warned that the company often drops contracts after they are ready to move. One seller had this to say about the process:
Beware! I received an offer and accepted it reluctantly, but it gave me a chance for a quick closing. The company stated that they had viewed the townhome twice, once for an inspection and once for a final walkthrough and there was nothing else to be done to close. Fast forward to closing day and they called to say they didn’t know it was a townhome and canceled the sale. If you deal with them, ask for at least $5k in earnest money. They want take your property off the market and then lie to you.
We completed a contract with them. Had an inspection. They asked for their credits based on the fact we have a subdivision across the street thats been in process for over a year. We agreed because at that point we just needed this to finish because we were moving out of state and needed this done quickly. They offered for us to sign papers early and hold til closing which was 1 week early. Everything still all good. Then 4 days prior to closing we get a phone call that they are backing out of the purchase because the subdivision across the street is too much competition. 4 DAYS BEFORE CLOSING. We had already sold all our stuff. Quit our jobs. Put money down on a home that we were supposed to close on a week after this sale.
Is Offerpad legitimate?
Yes, Offerpad operates as the second-largest iBuyer behind Opendoor. Founded in 2015, the company is led by CEO Brian Bair and is publicly traded on the New York Stock Exchange.
There are no current lawsuits or controversies surrounding Offerpad. However, customer reviews reflect mixed satisfaction with Offerpad's business model. The company has also seen a steep decline in marketshare. It generated approximately $568 million in revenue in 2025, down significantly from its 2022 peak of $3.95 billion, as it has scaled back home acquisitions dramatically.[10][11]
Source: Offerpad Q4 2025 Investor Presentation
To prop up their numbers, Offerpad has begun offering a 3% commission to real estate agents whose clients choose to sell to Offerpad for cash. In 2025, real estate agents accounted for about a third of offers requested from Offerpad.[12]
How does Offerpad make money?
The majority of Offerpad's revenue comes from its core iBuying service, wherein it buys, renovates, and sells homes for a profit. According to Offerpad's financials, it averaged $25,200 in gross profit per home sold in 2025.[1]
The remainder of Offerpad's revenue (less than 10%) comes from supplemental services including:
- Offerpad Renovate: Renovation services for partners that purchas homes through Offerpad Direct
- HomePro: Offerpad's agent parnership program, connecting agents to motivated sellers to present Offerpad's listing option alongside its cash offer
- Offerpad Direct: Sales of Offerpad-acquired homes to other institutional buyers and house flippers
How does Offerpad work?
Unlike its previous model where sellers could get instant cash offers online, Offerpad now requires sellers to meet with a HomePro (i.e., an Offerpad certified agent) to receive their final offer. With its new HomePro model, Offerpad agents "present both cash and listing options" to home sellers.[13]
The company positions itself as offering more comprehensive real estate services beyond just iBuying. In some cases, Offerpad partners with other service providers, such as regional investors or institutional buyers, to provide cash offer solutions.
Options available through Offerpad
💰 Cash Offer: Offerpad's core iBuying service where they purchase your home directly for cash. You'll work with a HomePro agent to review your offer, which includes an 5% service fee plus repair deductions. The process includes an inspection that can significantly lower the final offer. Benefits include flexible closing dates (8-60 days), free local moves within 50 miles, and up to three days of free occupancy after closing.
🏡 Traditional Listing: Traditional real estate listing with Offerpad partner agents, backed by a 60-day cash offer guarantee. This service includes home staging and cleaning support, plus access to interest-free renovation loans to improve your home's market appeal. You'll pay standard realtor commissions (typically 6%, split between the listing agent and buyer's agent), but you have the security of the backup cash offer if your home doesn't sell on the open market.
🤝 Buy with Offerpad: Buying a house with Offerpad is similar to buying a home 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 requires buyers to submit a pre-qualification letter with their purchase offer. Offerpad also provides traditional brokerage services if you're interested in touring homes outside of Offerpad's inventory.
Steps to selling a home with Offerpad
1. Fill out the online form
Offerpad’s cash offer process starts with a self-guided assessment of your home.The online form will prompt you to answer questions about your desired timeline and home features, including:
- Anticipated closing date
- Date the home was built
- Square footage
- Floorplan details
- Permitted and unpermitted additions
- Countertops and flooring
- Appliances
- Landscaping
Most of the information will be auto-filled by Offerpad’s database, but only you will know the answers to some questions. The process is pretty straightforward and should take just a few minutes.
2. Review offer with your HomePro
After reviewing your information, the Offerpad team will connect you with a local HomePro to go over your options, including:
- Offerpad's cash offer
- A traditional listing, with a backup cash offer from Offerpad
The HomePro will present each option — including the offer amount, associated fees, and closing terms — and you can choose to either accept a cash offer or list traditionally.
3. Complete the inspection
If you decide to move forward with a cash offer, Offerpad will send a third-party home inspector your way within fifteen days of signing your purchase agreement. As the homeowner, you will need to be present for the inspection.
We recommend following along with the inspector and asking questions to see what home improvements are necessary. This may also prevent sticker shock after you receive the repair estimate.
4. Get an updated offer
After the inspection, Offerpad will send you a final offer reflecting its repair estimate and other fees it intends to deduct from your net home sale proceeds. The company will adjust its cash offer to match this repair estimate and could back out of the deal entirely if the information you provided differs from the inspector’s assessment.
If you can move forward in the process, there are three typical options to choose from. You can:
- Agree to a repair credit. The first option is to give Offerpad a credit for the entire repair estimate at closing. There are no out-of-pocket expenses — simply an adjusted offer — but there's also little room for price negotiation. Offerpad claims that this is the most popular, hassle-free option.
- Complete the repairs before closing. Alternately, you can hire a licensed contractor to complete the requested repairs before closing. However, this option may be unrealistic given the closing deadline and Offerpad's requirements for approving the contractor, negotiating the scope of work, and signing off on finished product. Additionally, Offerpad may also tell you that hiring a contractor isn’t a possibility if your home has too many major repairs.
- Cancel the purchase agreement. If you feel the repair requests are unreasonable, you can decline and walk away from the contract without penalty.
5. Close the sale
You can pick a closing date anytime within a window of up to 60 days, with extensions possible on a case-by-case basis. You also have the option to extend your stay for up to 3 days at no charge if you need more time to move. However, Offerpad will retain a $10,000 deposit, refundable at move-out.[14] Sellers relocating within a 50-mile radius of their current home can also take advantage of Offerpad's free local move.
Steps to buying a home through Offerpad
1. Qualify for financing
Offerpad requires potential homebuyers to prequalify for a mortgage before using its platform. You’ll self-report your financial information, including financial history, credit score, and current debt. From there, a lender will review your information and recommend potential home loans you may qualify for.
2. Browse homes on Offerpad’s platform
Offerpad’s online portal, similar to Zillow or Redfin, allows you to browse its available homes. The platform lets you filter home options by square footage, number of bedrooms/bathrooms, lot size, etc.
3. Use the app for showings
To see homes in person, Offerpad requires you to verify your personal information via its mobile app. Once you confirm your info, the app will send you instructions for accessing the home’s keys via a Bluetooth lockbox.
Home showings are available seven days a week from 6 a.m. to 8 p.m.
4. Make an offer
You can make an offer on a home with or without an agent when you find the right home on the Offerpad platform. If you choose to work with an agent, you’ll be responsible for all fees.
Offerpad may recommend financing through Offerpad Home Loans at this stage, but you can still shop around before choosing a mortgage from the company.
5. Close on your new home
When you buy through Offerpad, you can choose the most convenient closing date for you. This feature is beneficial if you need to coordinate your timeline between selling your old home and buying a new one.
What kinds of homes does Offerpad buy?
Offerpad buys single-family residential homes, condos, and townhomes in open, gated, or age-restricted communities. To sell to Offerpad, your home must meet certain criteria:
- 🏠 Home type: Single-family home, townhouse, or condo (open, gated, or age-restricted communities allowed)
- 💰 Value: Under $1 million ($350k for age-restricted properties)
- 🌳 Lot size: Maximum lot size of 1–2 acres, depending on market
- 📆 Year built: After 1950
- 🛠 Condition: Clear title with no significant foundational, structural, or conditional damage
Manufactured, prefabricated, or mobile homes are ineligible for instant cash offers, and your home must be within Offerpad’s service area.
You must also vacate the property within 3 days after closing, or Offerpad will cancel the sales contract.
📍Where is Offerpad available?
Offerpad's footprint has shrunk from nearly 30 major U.S. markets to just 17 metros across 10 states.
The markets Offerpad currently serves include: Phoenix, AZ, Jacksonville, FL, Orlando, FL, Tampa, FL, Atlanta, GA, Indianapolis, IN, Las Vegas, NV, Charlotte, NC, Raleigh, NC, Columbus, OH, Charlotte, NC, Columbia, SC, Dallas, TX, Fort Worth, TX, Houston, TX, San Antonio, TX
Offerpad vs. a realtor
Another option is to list on the multiple listing service (MLS) with a realtor using a cash offer as backup — an option that Offerpad also offers through its brokerage services.
When you use a traditional real estate agent to sell your home, you usually pay 2.5–3% in listing agent commissions, 1–2% for repair credits and other buyer incentives, and another 1–2% for closing costs. You also may need to offer a concession for the buyer’s agent commission of around 2–3%. That’s a total of 7–11% in home selling costs.
However, on the open market, you could sell your home for a lot more than Offerpad offers, simply due to a larger, more competitive buying pool. You’ll also have more control over negotiations and repair costs than when dealing with a company like Offerpad — which can result in more money in your pocket. And if you work with a reputable discount broker, you can save significantly on listing fees.
"You’re going to get the most money when you have people competing with each other, and that’s going to happen when you list on the MLS," says Nashville realtor Barry Richards. "But you can use that iBuyer’s offer as a baseline."
» LEARN: Which companies offer the lowest real estate commissions?
Bottom line: Is Offerpad right for you?
Offerpad’s cash offer is worth considering if:
- You need to sell your home fast.
- You don’t want to invest in your own repairs before selling.
- You want to avoid the traditional listing process, such as if you work from home and don’t want to be interrupted by showings.
But if getting top dollar is your goal, or your home’s in great shape, you’ll probably do better selling with an agent — preferably from a brokerage offering better-than-average commission rates.
Before you commit, it's smart to compare cash offers from multiple buyers —either on your own or through a free service like Clever Offers.
FAQs
Who owns Offerpad?
Offerpad is a public company listed on the New York Stock Exchange. It was founded by Brian Bair, a former real estate agent, who continues to serve as its CEO.
Can I negotiate with Offerpad?
Offerpad's offers are typically take-it-or-leave-it. However, if you feel that Offerpad made a mistake in determining the price for your home, you can work with your HomePro to request a free price re-evaluation.
Does Offerpad have hidden fees?
Offerpad posts a 5% service fee for its cash offer on its FAQ page. However, the full picture — including repair deductions and closing costs — is typically only revealed during a consultation with an Offerpad HomePro.[2]
Related reading
About our reviews
Our company reviews are powered by hundreds of hours of research. To evaluate and rank cash home-buying companies, we analyzed thousands of customer reviews, secret-shopped each company, and looked to publicly available data for indicators of offer quality, customer service, fees vs. value provided, trustworthiness, and more. Whenever possible, we also talked to customers, company reps, and industry professionals (such as real estate agents) who've had direct experience working with the brand.