Offerpad is an iBuyer that makes all-cash offers on homes and can close in two weeks or less.
Offerpad reviews from real customers are generally positive. The company has a 4/5 rating across 2,758 reviews. Many customers have good things to say about its customer service and quick, easy process.
However, like all iBuyers, Offerpad is buying fewer homes than it did in the past and making offers below market value.Based on online reviews, it appears its repair estimates have also increased, which could eat into your sale proceeds.
Is Offerpad right for you?
- You don’t need to clean, declutter, paint, or renovate your home before selling.
- You receive an initial cash offer within 24 hours.
- You can close in as little as 8 days or up to 90 days.
- You can get a free moving service within 50 miles.
- You pay a 5% service fee.
- Your final offer will likely be less than fair market value.
- Repair deductions can reduce your sale proceeds by thousands.
- There’s little to no room to negotiate the sale price or repair costs.
If you want to avoid showings and repairs, Offerpad’s convenience could be a great fit. Offerpad promises a fast, frictionless sale — and eligible sellers can close in as little as eight days.
However, its final offer may be a lot lower than your initial quote. For example, one online reviewer said, “They offer you a good price for your house, make you think that everything is good. … They then tell me they need to take 62k off the purchase price for ‘repairs.’”
Offerpad’s 1% cancellation fee and limited locations also make it less competitive than other leading iBuyers, like Opendoor. But it has free local moves and offers the ability to stay in your home for free three days after closing. Those perks may give it an edge for you, depending on your timeline and where you’re moving.
If you’re considering an offer from Offerpad, you should compare it with what other iBuyers and cash buyers are willing to pay for your home. By shopping around, you’re more likely to get the best offer on the timeline that works for you.
What is Offerpad?
Offerpad is the second largest iBuyer in the US, after Opendoor,and operates in 21 markets across 14 states.
Like Opendoor, Offerpad uses market data to make fast cash offers on homes. This allows you to close quickly and avoid traditional home sale hassles like showings and negotiations. But only certain homes qualify, and you’ll have to settle for a sale price that’s below fair market value.
Offerpad’s 5% service fee is the same as Opendoor’s and similar to what traditional realtors charge. But Offerpad offers perks that Opendoor doesn’t, like free local moves and the option to stay for free up to three days after closing.
You can also list your home with Offerpad for a more traditional sale process. If your home doesn’t sell on the open market, you can use Offerpad’s cash offer as a backup. This option might have a longer timeline, but it maximizes your chances of selling for more money.
Buyers can purchase an Offerpad home and get financing through Offerpad Mortgage.
|⭐ Offerpad reviews
|🤝 Service fee
|⏱️ Time to close
|As soon as 8 days*
|21 markets in 14 states
|🏡 Eligible homes
|🔎 Best for
|People who want to sell fast and don’t mind making less than what they’d get with a realtor
How does Offerpad work?
Offerpad has two services for selling your home: Offerpad Express and Offerpad Flex. It also sells homes to buyers and offers home financing through Offerpad Mortgage. You can also bundle these services with its Sell + Buy + Loan program.
Get a fast cash offer with Offerpad Express
Offerpad Express is the company’s main iBuying service. The company gives you a quick cash offer and asks you to choose a closing date between 8 and 90 days out.
Offerpad’s cash offer costs 5% in service fees, plus variable repair costs and 1–2% in traditional closing costs, like title, escrow, and attorney fees. The company also charges a 1% cancellation fee if you back out after accepting its final offer.
Offerpad Express may be worth it if:
- Selling fast is more important than getting top dollar for your home
- Your home is in relatively good condition and won’t need major repairs
- You want to avoid the hassle of preparing your home for showings
Test the market with Offerpad Flex
Offerpad Flex allows you to list your home with Offerpad while having a backup cash offer locked in for 60 days. If your home doesn’t sell within 60 days, you can accept the company’s cash offer.
The 6% charge for Offerpad Flex covers the commission for both the listing agent and the buyer’s agent. That cost is comparable to selling with a traditional agent. You’ll also need to pay for closing costs and repairs. And unlike with Offerpad Express, you may have to offer seller concessions, which are typically around 1%.
An Offerpad agent will help clean and stage the home to get it ready for showings. If you need to make improvements (e.g., new paint, flooring, or appliances), Offerpad will give you an interest-free loan that you can pay back at closing.
Offerpad Flex may be worth it if:
- You have time to see how your home does on the open market
- You want to maximize your selling price
- You’re willing to stage your home and make minor repairs to get it ready for market
- You want the security of a backup cash offer
Bundle services with Sell + Buy + Loan
Sell + Buy + Loan is Offerpad’s bundled service. You can use it if you want to sell with Offerpad using either Offerpad Express or Offerpad Flex and buy your new house with an Offerpad agent. You can also use Offerpad Mortgage to finance your new home purchase.
Bundling Offerpad’s services may make you eligible for discounts, but we recommend shopping around for mortgages to see what other lenders can provide.
Buy from Offerpad
You can buy a home directly from Offerpad through its website. The process is similar to buying a house the traditional way. There’s no inherent advantage to buying from Offerpad compared to buying from a typical homeowner.
Some customers report that Offerpad doesn’t always do a great job repairing homes. 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 touring it in person with a real estate agent and getting an inspection before making an offer. That way, you have the best chance of spotting issues early on.
Where does Offerpad operate?
Offerpad is available in the following locations:
- Arizona: Phoenix
- Colorado: Colorado Springs, Denver, Fort Collins
- Florida: Jacksonville, Orlando, Tampa
- Georgia: Atlanta
- Indiana: Indianapolis
- Kansas: Kansas City
- Missouri: St. Louis
- Nevada: Las Vegas
- North Carolina: Charlotte, Raleigh
- Ohio: Columbus
- South Carolina: Columbia
- Tennessee: Nashville
- Texas: Austin, Dallas–Fort Worth, Houston, San Antonio
Since Offerpad’s service areas are limited, your home may not qualify for a cash offer. If that’s the case, other iBuyers may be operating near you. For example, Opendoor is currently available in 53 cities nationwide.
What types of homes does Offerpad buy?
Offerpad won’t purchase your home unless it meets the following purchase criteria.
|Within one of the 21 markets Offerpad serves
|🏠 Home types
|Single-family residential homes, including condos, townhomes, and homes in gated and age-restricted communities
|Worth less than $1 million (depending on market)
|🌳 Lot size
|On less than 1 acre of land
|📆 Year built
|Built after 1950
If your home has problems with the title or significant structural issues like foundation problems, Offerpad won’t purchase it.
How much does Offerpad pay?
Offerpad pays less than what you’d get on the open market with a real estate agent but more than what traditional cash buyers pay. Like other iBuyers, Offerpad used to offer closer to fair market value, but it has tightened its spending on home purchases since 2022.
While your initial offer may seem attractive, some customers say Offerpad significantly reduced its offer after inspecting their home.
For example, this Reddit user claimed that Offerpad “had their inspection and made up … issues to lower their offer price by like 20%.” Another reviewer said that Offerpad “went from $189,000 offer to $148,000 after inspection.”
In fact, in a survey of 1,000 home sellers by Clever Real Estate, 41% of people who sold to iBuyers said they paid more in closing credits and repair costs than they anticipated, which reduced their sale proceeds.
If you think Offerpad’s final offer is too low, you can reject it and walk away.
Using Offerpad Express costs you about 7–10% of the home’s sale price in service fees and closing costs. This is pretty close to the 6–11% you’d pay with a traditional real estate agent.
Offerpad also charges a 1% cancellation fee if you back out after accepting its final offer. Other iBuyers, like Opendoor, don’t charge a cancellation fee.
Offerpad’s fees may be slightly lower than what a real estate agent would charge, but your overall sale price may be lower, too. Repair deductions can significantly lower your final offer.
That said, you’ll have more control over your closing date with Offerpad Express, and you won’t have to deal with showings and repairs. You may find that the extra convenience justifies a lower sale price.
Offerpad fees vs. real estate agent commission
|What you pay with Offerpad
|What you pay with a realtor
|5% service fee
|📎 Closing costs
|🔨 Repair credits
How much does Offerpad charge for repairs?
It’s difficult to predict how much Offerpad will deduct for repairs. The company has estimated repairs of less than 1% for some sellers, while it has charged others over 5%.
For example, one customer said that he had “a newer home and Offerpad did not request any additional repairs.” But another seller, Bradley Carpenter of Kansas City, told us that Offerpad’s repair estimate for his home was $40,000 (around 9%). In contrast, Opendoor quoted Carpenter just $7,000 for repairs.
Because repair deductions are so variable and could significantly lower your final offer, we recommend comparing Offerpad to other cash buyers. That way, you can avoid a repair bill that’s unnecessarily high.
Offerpad reviews and complaints
Most Offerpad reviews from customers are positive, with an average rating of 4 out of 5 stars across 2,758 reviews.
|Better Business Bureau
We didn’t include Offerpad reviews from Sitejabber because many are from realtors and customers who didn’t complete a transaction.
Sellers like Offerpad’s customer service
We found many positive comments from sellers about the company’s accessible reps. Reviewers mentioned they were happy to talk with an actual human and not an automated service.
As this customer said, “I recently had a transaction with Offerpad and it went so smoothly! They were easy to get a hold of and negotiate with.” Similarly, another customer said, “I always used realtors before and it was fine, but the personal customer service that Offerpad gave was exceptional!”
Customers like Offerpad’s speed
Offerpad claims it can close quickly, and reviewers’ comments indicate that the claim is true. Reviewers praised Offerpad’s fast turnarounds for the initial offer, inspection, and closing.
For example, this customer was able to close extremely fast with Offerpad. They said, “This was the easiest process from start to finish. Within 3 weeks we had the inspection and closing with no issues at all. The offer was exactly what we anticipated and we had our funds wired the same day as the closing.”
Customers like that Offerpad is honest and keeps its promises
Offerpad promises a smooth, quick sale, and many reviewers mentioned that the service works as advertised. Comments use language like “no surprises” and “great from start to finish.”
For instance, this reviewer said, “My experience selling our home to Offerpad was super easy and they did everything they advertised they would do, right down to the free move!”
Another person claimed, “Offerpad makes the home sale process simple, with outlined expectations, easy forms and knowledgeable people.”
Sellers complain about repair costs and reduced offer prices
Some customers complained about steep reductions in the offer price after Offerpad’s inspection. Other reviewers thought the repairs were overpriced, further cutting into their sale price.
For example, one customer thought Offerpad’s estimated repairs were extremely high. They said, “[Offerpad] made a good offer and then asked for 25K in repairs, which included asking for new appliances and fresh paint inside!”
In a similar case, an Indianapolis realtor said, “They gave my clients a really great offer based on photos and info on the house. I was anticipating it would be a little lower after their in person visit. They made us wait 7 days and then came back with an offer 80k less!”
We recommend researching typical repair costs and getting a second opinion from an independent inspector. These measures can help you avoid overpaying for repairs or purchasing a home with major defects.
Buyers complain about Offerpad’s poor repairs
A common complaint we found for all iBuyers, including Offerpad, is that their repairs are subpar. This includes repairs that are largely cosmetic and mask deeper issues.
For example, one person complained that after buying from Offerpad, their “kitchen is barely usable and so far $3,500 in repairs and counting just from their shoddy work.” Several other reviewers had expensive repair bills after buying an Offerpad home.
Best alternatives to using Offerpad
Sell to another cash home buyer
If your priority is to sell quickly, another cash buyer may be your best option. Other iBuyers (like Opendoor) or “we buy houses” companies (like We Buy Ugly Houses) can make you an offer in days and help you close in a couple of weeks.
While iBuyers only buy homes in good condition, “we buy houses” companies are more flexible. They specialize in purchasing hard-to-sell homes and generally don’t charge service fees. But they offer less than iBuyers — and much less than what you’d get on the open market with a real estate agent.
Comparing different cash buyers is the best way to ensure you get a good offer while still selling fast. We recommend using a free service like Clever Offers, which fields offers from reputable cash buyers so you can easily choose the best one for you.
|Time to Close
5/5 (3,050 reviews)
4.2/5 (3,801 reviews)
4.4/5 (614 reviews)
1.9% service fee + 6% brokerage fee
4.8/5 (833 reviews)
2% service fee + realtor commission
We Buy Ugly Houses
4.4/5 (1,590 reviews)
Clever Offers: Best way to compare multiple options
Comparing offers is the best way to get a fair one, which is why we recommend Clever Offers.
Unlike Offerpad, Clever Offers doesn’t buy houses directly. Instead, it gets you offers from multiple cash buyers and iBuyers in your area. That way, you can compare legit offers and choose the best one for your financial goals and timeline.
You also get the option to talk to a real estate agent, who gives you an estimate of your home’s worth. This information can help you know which offer is best and give you more leverage when negotiating with cash buyers.
Opendoor: Best alternative iBuyer
Opendoor is the largest iBuyer in the country. It operates in 53 markets, about twice as many as Offerpad.
Opendoor and Offerpad make similar offers, and both charge a 5% service fee. But there are some key differences between the companies:
- Opendoor’s extended-stay program is longer (14 days vs. 3 days), but it costs extra.
- It doesn’t offer as many perks as Offerpad, like free local moves and cash advances for renovations.
- There’s no option to fund your next home purchase with Opendoor.
- It doesn’t charge a cancellation fee (Offerpad charges 1%).
» COMPARE: Offerpad vs. Opendoor
Knock: Good for potentially selling for more money
Knock isn’t an iBuyer. Instead, it’s a home trade-in service, which means it advances you a loan so you can buy a new home before you sell your old one.
Once you buy your new home, you list your old home on the open market and pay off the initial loan through the proceeds of that sale. If your house doesn’t sell after six months, Knock buys your home for cash.
These are the main differences between Knock and Offerpad:
- With Knock, you may make more money on your sale since you list on the open market.
- Knock’s realtor and service fees total around 9.5%, while Offerpad’s service fee is 5%.
- Knock allows you to quickly buy a new house, but selling with Knock may take longer than with Offerpad.
- You have to wait six months before taking Knock’s cash offer.
Knock is a good option if you want to see how much your home could get on the open market, but you also want the security of a backup cash offer. However, its high fees can really lessen your final profits.
» READ: Our full Knock review
Orchard: Decent option for testing the open market
Orchard is another home trade-in service that allows you to use your home’s equity so you can buy a new house before you sell your current one. The company helps you list your home on the open market, and if it doesn’t sell within 120 days, you can take Orchard’s cash offer.
Here’s how Orchard and Offerpad compare:
- You’re more likely to get more money for your house with Orchard.
- Orchard’s total fees can add up to 9–16% vs. Offerpad’s 5% service fee.
- Offerpad gives you a fast cash offer, but Orchard gives you one only after you list for 120 days.
Orchard can help you maximize your sale price by listing on the open market, and it gives you the security of a backup cash offer. But its high fees reduce how much you’ll make overall, and its final cash offer will likely be much less than fair market value.
» READ: Our full Orchard review
We Buy Ugly Houses: Worth considering if your home is hard to sell
We Buy Ugly Houses makes fast cash offers on homes in almost any condition. Like Offerpad, it can close quickly, often within weeks of the initial offer.
But We Buy Ugly Houses differs from Offerpad in these ways:
- It makes significantly lower cash offers.
- It doesn’t charge any service fees, while Offerpad charges 5%.
- It buys properties as is, including distressed homes, while Offerpad only buys homes in good condition.
We Buy Ugly Houses is a decent option if you need to sell quickly and your home isn’t in good enough condition to sell to an iBuyer. But you should compare its offer to other cash buyers to make sure you get the best deal for your situation.
List with a realtor and use a cash offer as a backup
If you want to maximize your profits, often your best bet is selling on the open market with an agent.
In a recent survey by Clever Real Estate, 63% of iBuyer sellers said they wished they had used an agent when selling their property. For some of them, the convenience of an iBuyer wasn’t worth the lower sale price.
Even though an agent can’t guarantee a fast sale, a good realtor can help you create a strategy for selling on your timeline. For greater peace of mind, you can use a cash offer from Offerpad or another iBuyer as a backup.
As Barry Richards, Principal Broker at EXIT Realty Garden Gate Team in Springfield, Tennessee, says, “You’re going to get the most money when you have people compete with each other, and that’s going to happen when you list … [with a realtor]. But you can use that iBuyer’s offer as a baseline.”
Frequently asked questions
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 as of 2023.
How much does Offerpad pay for homes?
When selling to Offerpad or any iBuyer, you'll receive a lower offer than you likely would when selling on the open market. Your final proceeds depend on two factors: the repairs you'll need to make and Offerpad's risk assessment of your local housing market. Keep in mind that you'll also have to pay service fees of 5%. Learn more about Offerpad fees.
How does Offerpad work?
Offerpad's simple home-buying process involves an online application, an initial cash offer, and an on-site inspection. However, sellers have only a narrow window to back out after receiving the final offer before facing a 1% cancellation fee. Learn more about how Offerpad works.
Can I negotiate with Offerpad?
No, Offerpad’s offers are non-negotiable. However, if you feel that Offerpad made a mistake in determining the price for your home, you can contact their solutions advisor and request a free price re-evaluation.
Does Offerpad have hidden fees?
Offerpad is transparent about most of its fees. However, it does have a hidden fee of 1% for sellers who cancel after four days of receiving a final cash offer. Learn more about Offerpad’s fees.
Is Offerpad legit?
Yes, Offerpad is a legitimate business that buys homes for cash. Offerpad started in 2015 and grew quickly until 2022. Since then, its growth has slowed, which has resulted in lower offers and high repair deductions that can drain your profits. If you want to sell quickly while still getting the best possible price, a low commission real estate company may be the best choice.
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