If you’ve been looking for companies that can buy your home, Offerpad may have appeared in your search.
Offerpad has been in business for a decade. The company also has locations in hundreds of cities across the country (including Tucson and Phoenix), with licenses in over a dozen major states.
Having a 91% customer satisfaction rating published on its site, Offerpad may seem like a wise choice for any prospective buyer.
However, despite its accolades on BBB and its 64% Net Promoter Score, numerous Offerpad reviews in places like TrustPilot tell a different story.
Learn more about Offerpad and why you’re better off selling your home to a different buyer.
By the end of this article, you’ll be thankful you haven’t chosen this company.
You’ll also find a better cash home buyer who can give you great value for your home.
Offerpad Explained
Offerpad is a real estate company founded in 2015. The company caters to two types of clients — home sellers and buyers. Among the company’s services are fast cash offers and listing services.
In 2023, Offerpad garnered numerous accolades. One was an A+ rating from the Better Business Bureau, and the other was a Net Promoter Score of 64.
Offerpad markets itself as a company that cares about the seller and is a profitable alternative to the traditional home-selling process. Another one of the company’s selling propositions is its use of technology and local agents to streamline the home-selling process.
www.OfferPad.com Website
Common Complaints and Reviews
Despite the company’s selling propositions and positive reviews, complaints about the company’s services abound elsewhere.
Lowball Offers
On TrustPilot, Offerpad has a 2.5-star rating, which is a poor grade for any company on the platform.
What led to the poor rating was a slew of complaints about how the company appraises homes. According to several unsatisfied customers, they received lowball cash offers for their homes. Many of these offers were also $40,000 below average market values.
Cancellation Fees
Offerpad has also earned low ratings on Yelp because of its “pressure-selling” tactics, specifically its 1% cancellation fee.
Based on numerous complaints, the company hooks sellers into selling their homes after they’ve accepted a cash offer. Any attempt to cancel would incur a 1% cancellation fee.
Service and Repair Issues
It’s not only home-sellers who are disappointed in Offerpad’s service. In the BBB’s complaint section, many buyers mentioned the failures of the company in addressing flooring, plumbing, and sewage problems.
These complaints are signs that Offerpad buys homes at low values and sells them for a profit without making the necessary repairs for buyers.
Offerpad Fees, Commissions, and Hidden Costs
Selling your home or listing it with Offerpad comes with several costs.
Home-Selling Costs and Hidden Repair Fee
Let’s start with selling costs. First, there’s a service fee for selling your home to Offerpad. When you accept an offer from Offerpad, the company will deduct 5% from the offer value to recover a service fee.
Besides the service fee, you’ll also have to pay 1% in closing costs. On top of this, there may be additional charges for repairs depending on what the company finds during the two-hour inspection.
Listing Costs: Commission Fee and Home Improvement Advances
Expect to run into several fees when you list with Offerpad. One of the listing fees is a 6% commission fee. Besides this, you’ll have to pay a 1% service fee on top of a 1% seller concession fee.
When you list your home with Offerpad, there are home improvement advances you’ll have to pay. These costs can vary depending on what the Offerpad inspector finds.
Common Offerpad Scams
Based on numerous complaints, Offerpad ( much like 72Sold) seems to profit from engaging in the following scams:
- Lowball Offers: Offerpad issues cash offers to sellers that are well below their homes’ market values, taking advantage of the sense of urgency experienced by sellers.
- Manipulation of Inspection Findings: Some on Reddit have remarked upon the company’s manipulation of inspections to scam sellers for additional expenses.
- Unreasonable Repair Demands: In addition to manipulating findings, Offerpad may request numerous additional repairs before they buy a home. Otherwise, the purchase may be completed but with significant deductions from the seller’s payout.
- Unfair Fees: From commission fees to hidden repair fees, numerous hidden costs can devalue a home and result in reduced profits for sellers.
- Inconsistent Selling Terms: A sale isn’t always a guarantee with Offerpad. The company can withdraw for market-related reasons.
Is Offerpad Legit?
With an online and brick-and-mortar presence, a decade of experience, and recognition from the BBB, Offerpad may be a legitimate real estate company.
With that said, the company has a proven history of treating sellers unfairly. This is shown in the number of complaints about the company’s lowball offers and unfair fees.
In short, Offerpad may be legit, but the complaints against it should be a sign for you to sell your Arizona home elsewhere.
Andrew the Home Buyer Is the Better Option
When you’re looking for a safer alternative to platforms like Offerpad, you’ll need a cash home buyer who’s looked into other home-buying scams, doesn’t resort to pressure sales, and gives an accurate assessment of your home’s value.
At Andrew the Home Buyer, we tick all the boxes and more.
We’re your legit, no-pressure solution to home-selling, giving you fast and free, no-obligation cash offers.
We even let you find out how much your home is worth with our accurate home value calculator.
Get a fast, free, and fair cash offer today and experience the Andrew the Home Buyer difference.
Get Cash for Your House
You can look forward to the following benefits when you sell your home to a cash home buyer like us:
- The Most Money for Your Arizona Property: Say goodbye to realtors, closing costs, hidden commissions, and scams. When you sell your home to us for cash, you’ll get the best value for your home.
- Fast and Fair Home-Selling Process: We’ll buy your home fast regardless of the condition it’s in (even without an inspection)
- No Hassles: All you need to do is reach out or get a cash offer. If you’re happy with our offer, we can push through with the sale.
Sell your home quickly to our team.
Get a fast, fair, and free cash offer from us today.
Andrew The Cash Home Buyer
Read About Us
At Andrew the Home Buyer, we’ve helped countless home sellers with our no-obligation, fast, fair, and free cash offers — and we’re prepared to do the same for you.
Read about us to learn more about our team and how we can help you.