FAQ
Got a Question? We Have Answers.
What are you looking for?
General Questions about OfferPad
Pricing Information
Requesting and Accepting Your Offer
Inspection Process
Closing and Moving
What is OfferPad?
OfferPad is the easiest and smartest way to sell your home. We allow you to bypass the traditionally stressful, multi-month home-selling journey altogether. Because you sell your home directly to us, we can provide you an easy and painless full-cash sale the moment you are ready. The best part is, we do all the legwork and paperwork, so you can focus on moving onto your next big adventure!
Why was OfferPad created?
The OfferPad team is made up of real estate professionals who have decades of experience in the industry. We know the pain of selling a home. We know the ups and downs, the uncertainties and stress the journey can cause. From our desire to create a simple and stress-free alternative to home-selling, OfferPad was born.
Where is OfferPad currently buying homes?
OfferPad is currently buying homes in the Phoenix, Las Vegas, Salt Lake City, Los Angeles, Tampa and Orlando metro areas. OfferPad is only available in the markets we know best. Our decades of street-level experience, in these cities, that makes it possible for us to provide homeowners our top purchase price, and an elevated level of service throughout the entire process.
What types of homes does OfferPad buy?
Today we're purchasing homes that fit the following criteria:
- • Family residential homes, including condos and townhomes
- • Homes in age-restricted communities (max purchase price up to $325,000)
- • Homes in gated communities
- • Homes that are site-built (not manufactured, pre-fabricated, or mobile)
- • Homes located in our service areas
- • When the seller has clear ownership of the property (no double escrow)
- • Homes built after 1960
- • Homes where our valuation is up to $500K
- • Homes that sit on at maximum of one acre of land
- • Homes that are owner-occupied or vacant, not leased, at the time of closing (no lease backs after closing)
- • Homes that don't have any significant foundation issues
- • Homes located in the metro areas of: Phoenix, Tampa, Las Vegas, Orlando, Salt Lake City
How quickly can we close and move?
With our Flex Close option you can move on, up to 3 days after closing. To qualify for the OfferPad Flex Close, the seller must complete a Post-Possession Addendum.
How long do I have to move out after closing?
The real question is - when do you want to move? You get to pick the day! We can close in as little as 5 days or let you wait up to 90 days from the day you accepted your purchase offer. You make the call! No, this is not a typo, we’re just that good.
What if I have a listing agent?
Although you do not need a real estate agent to sell your home to OfferPad, if you have an existing listing agreement with an agent, we’re required to communicate our offer directly to your agent. The real estate commission will be deducted by the title company from your net proceeds at closing. You should refer to the terms of your listing agreement to confirm what those amounts are. OfferPad’s brokerage affiliate will receive the agreed upon buyer broker commissions. Please be sure to note in your request that you have a real estate agent. In the online request form, select “Yes” that you agree and understand that we will send your offer directly to your agent, and then input your agent’s contact information inside the noted area.
What do you do with my house after I move?
The simple answer - we sell it. We buy your home from you, so you can move forward without having to go through all the typical selling headaches.
How do you keep my information secure?
For all document signings, we use DocuSign, an approved third-party application. All escrow payments and paperwork are handled by a trusted title company, securing all financial management and payments. The security of your information throughout the entire process is part of our promise of a simple, painless experience with OfferPad.
How does OfferPad determine my home’s purchase price?
Our goal is to provide you our top offer from the start, so you are free to move on with confidence whenever you are ready. We calculate your home's value by analyzing all possible data sources, and evaluating and considering the specifics you provided in your offer request. From that, we create a marketability score that drives our strong offer price.
What we do: Offer the most we can possibly pay, providing transparent pricing and communication, while ensuring we treat every homeowner with respect and openness.
What we don't do: Try to undercut your home's value, or take advantage of desperate sellers.
How much of the purchase price do I need to credit back to OfferPad at closing?
It's our goal to keep our credits as close to the same percentages you would typically pay at closing during a traditional real estate transaction.
Our Credits consist of:
- Similar to Traditional sale: 6% of the purchase price, at closing, to cover upcoming selling costs and ownership risks (the same amount you would typically pay a real estate agent if you sold traditionally) and an approximate additional 3% for closing and processing costs.
OfferPad works hard to ensure our process and pricing provides a transparent, streamlined selling experience, so your move can be stress-free and you can go on to your next great adventure.
Who pays for my Title & Escrow in an OfferPad transaction?
OfferPad pays! Your title and escrow is included in our purchase price. Any additional closing costs or taxes will be paid by the seller, similar to a traditional transaction.
How will I receive my offer?
After you submit your request, we will email you your offer within 24 hours. The email has a link to your online offer, as well as customer support contact information in case you have any questions.
How long is my offer valid?
You will find your expiration date at the bottom of the price section within the offer. In general, offers are valid for 48 hours after first receiving them.
What happens after I accept my offer?
After you accept your OfferPad offer, a web page will open asking you to select the day you would like to close and move. Your close date can be anywhere within 5 – 90 days. This date will then be indicated in the final contract you will receive via email the same day.
When do I select what day I want to close?
Immediately after accepting the online purchase offer. Once you click "accept" a new web page will open asking you to select your close and move date. Your close date can be anywhere within 5 – 90 days. This date will then be indicated in the final contract you will receive via email the same day. And, if something changes and you need to make a slight change to your close date, no problem! Let us know, and we'll do our best to make the change.
Is the transaction final after I accept my online offer, or is there something else I need to do?
To finalize your offer, you must sign the final purchase contract. This 'DocuSign' contract will be emailed to you immediately after you select your close date. The contract will come from DocuSign on behalf of OfferPad. Digitally sign the contract, and you're sold! Don't hesitate to call us if you have any questions - 844-388-4539
What happens after I sign the purchase contract?
We get to work! OfferPad will open escrow at a title company and deposit the earnest money. At that point, the title company will send you an earnest money receipt confirming the deposit. You will be contacted by your OfferPad Homeowner Consultant to schedule the date of our home inspection and walk you through additional next steps. We're excited to work with you, and promise to make the entire process easy and smooth!
When does my home go into escrow?
Your home will go into escrow as soon as the agreement has been signed between you and OfferPad.
When does the inspection period begin?
The inspection period begins the day after the contract has been signed by both parties. If OfferPad signed the contract on a Monday and you signed and returned the contract on that Tuesday, the first day of the inspection period would be Wednesday.
Do I need to set up my own home inspection?
Nope! We’ll handle all of that for you. Your OfferPad Homeowner Consultant will contact you shortly after signing the purchase contract to schedule the date of our home inspection. All you need to do is be home during the inspection, which typically takes less than 2 hours.
Why do you do an inspection?
Just like the traditional experience, we have a third-party inspector check out the home to make sure everything is up to code, ensuring everything is as described in the initial offer request form. We will review the inspection and make sure there are no issues with your home which would need repair.
Who does the inspection?
OfferPad uses unaffiliated third-party home inspectors to perform the formal inspection.
What is the inspector looking for?
The inspector will look closely to make sure everything is up to code, ensuring no issues that any seller would have to get repaired if selling traditionally. Some of the items may include A/C, electrical, foundation, roof, termite issues, broken or damaged flooring, windows, cabinets, appliances, plumbing issues, water damage, large drywall repairs, damaged exterior paint and pool & spa issues.
Please note that non-standard colored walls, materials, and carpet may require adjustments on the Credit & Repair Addendum. Examples of non-standard colors are (but not limited to) bright colors, blacks, neon colors, rooms that are entirely one color other than white, beige, light grey, tan, or similar color palettes. Examples of non-standard materials are (but not limited to) wall paper, stickers, wall borders, and faux finishes. Examples of non-standard carpet are (but not limited to) outdoor carpet used indoors, bright colors, neon colors, irregular patterns, and visual wear patterns.
How do I find out about the inspection results?
Shortly after the inspection, your OfferPad Homeowner Consultant will inform you of any issues or concerns discovered.
What happens if the inspector finds something?
If the inspector determines repairs are required, we will provide you a complete list of repairs, and ask for a credit to cover the difference after inspection. We will ask you to sign an addendum to the contract that will explain any required repairs or credits needed before closing.
What are my choices if repair credits are required after the inspection?
You have 3 options if the inspector determines repairs are required:
The easiest option is to let OfferPad take on the repairs by agreeing to credit the repair expenses to OfferPad at closing. In most cases, due to our volume and in-house resources, we're able to keep required repair credits to a low and reasonable price point. We simply ask for exactly what is needed to get the home ready for acquisition.
To move forward with this option, you would sign an addendum to the contract that defines the required repairs and costs. This solution means no money out of pocket, or work done by you!
You can pay to have a licensed contractor make all the required repairs. OfferPad will provide the list of required repairs, and it would be up to you to ensure all are completed to current building codes. OfferPad will need proof of the work being completed, contractor name and license number, before and after pictures, receipts, and visible approval by OfferPad during the final walk through.
We hope this doesn't happen, but if you aren’t willing to agree to the required repairs (if there are any), you are always free to cancel the purchase contract with no obligation. Keep in mind, these repairs will most likely have to be addressed regardless if you sell to us or try to sell traditionally. A traditional buyer will typically want these same issues fixed (or credited) before they agree to purchase your home.
When is the final walk through of my home?
Your OfferPad Homeowner Consultant will contact you several days before your close date to schedule the final walk through. The walk through typically happens one to two days before closing. The purpose of the walk through is to verify the home is still in the same condition, and to check on agreed repairs if you decided to handle them independently.
When do we sign closing documents?
A few days before your agreed-upon closing date, an escrow agent from the Title company will contact you to finalize the day and time you will sign the final closing documents. You will receive your final purchase payout check at this time.
When do I get my mortgage payoff?
Right after we open escrow, the title company will be contacting you to assist with the mortgage payoff for your home.
Who pays for my Title & Escrow in an OfferPad transaction?
OfferPad pays! We will pay all of the seller’s title and escrow fees. Any additional closing costs or taxes will be paid by the seller, similar to a traditional transaction.
What do I need to leave in my home when I move?
As a general rule, you need to leave any built-in appliances. This includes, but is not limited to: your dishwasher, built-in microwave, stove, oven, cooktops, ice machines, trash compactors, water softeners, built-in refrigerator, R/O systems, window treatments, central vacuum and central vacuum hoses, garage door openers and remotes, pool equipment, built-in BBQs, built-in fire pits, ceiling fans and light fixtures, pool fencing, pool cleaning systems, exterior landscape lighting and surround sound speakers.
What can I take from my home when I move?
In most cases you can take anything that isn’t built into your home. Appliances that you can take vary by state. See below for appliances you can take by state:
Arizona: washer, dryer, and the refrigerator
California: washer, dryer, and the refrigerator
Florida: washer and dryer
Nevada: washer, dryer, and the refrigerator
Utah: washer, dryer, and the refrigerator
How do I qualify for the OfferPad Free Local Move?
OfferPad's Free Local Move is only valid for customers who have closed escrow and transferred ownership of a home to OfferPad.
Didn't find an answer to your question?
Feel free to give us a call at 844-388-4539, or submit your question below and we'll get back to you very soon. We look forward to working with you!