Offerpad: What to Know

Offerpad provides streamlined options for buying and selling homes in 11 states. It charges sellers a 5% service fee.
Kate Wood
By Kate Wood 
Updated
Edited by Beth Buczynski

Some or all of the mortgage lenders featured on our site are advertising partners of NerdWallet, but this does not influence our evaluations, lender star ratings or the order in which lenders are listed on the page. Our opinions are our own. Here is a list of our partners.

Offerpad is an iBuyer that launched in 2015, and currently buys and sells homes in metro areas within 11 states, primarily in the southern half of the United States. In the second quarter of 2021, Offerpad purchased 2,025 homes — a new record for the company — and sold 1,259 homes.

What is Offerpad?

As an iBuyer, Offerpad provides three core services to home buyers and sellers within its markets.

  • Selling your home to Offerpad: With Offerpad Express, the company makes you a cash offer and buys your home directly from you. This fairly standard iBuyer offering includes perks like free local moving services and the ability to rent back your home for up to 90 days after closing.

  • Listing your home with Offerpad: If you want to see what offers you can get from home buyers on the open market in addition to Offerpad's cash offer, you can work with one of Offerpad's partner agents to list your home with Offerpad Flex. In most cases, you’ll have up to 90 days to take your home off the market and go with Offerpad's cash offer instead.

  • Buying a home from Offerpad: Properties that Offerpad has purchased are listed on real estate websites, though the iBuyer offers perks to home buyers who work with one of its partner real estate agents.

If you are selling your home to Offerpad, the iBuyer requires you to sign a binding purchase agreement based on its initial offer. With most iBuyers, you don't make a firm commitment until you receive their final offer, which accounts for adjustments due to condition and repairs. Once you've signed with Offerpad, you'll pay a cancellation fee equal to 1% of the offer amount if you decide not to go through with the sale for any reason other than the repair adjustment. If Offerpad elects not to go through with the transaction, no money is owed on either end.

Mortgage loans from our partners

NBKC - PURCHASE logo
Check Rate

on NBKC

NBKC

5.0

NerdWallet rating 
NBKC - PURCHASE logo

5.0

NerdWallet rating 
Min. credit score 
620

Min. down payment 
0%

Check Rate

on NBKC

New American Funding - PURCHASE logo
Check Rate

on New American Funding

New American Funding

4.5

NerdWallet rating 
New American Funding - PURCHASE logo

4.5

NerdWallet rating 
Min. credit score 
500

Min. down payment 
3.5%

Check Rate

on New American Funding

Rocket Mortgage - PURCHASE logo
Check Rate

on Rocket Mortgage

Rocket Mortgage

5.0

NerdWallet rating 
Rocket Mortgage - PURCHASE logo

5.0

NerdWallet rating 
Min. credit score 
580

Min. down payment 
3.5%

Check Rate

on Rocket Mortgage

Veterans United - PURCHASE logo
Check Rate

on Veterans United

Veterans United

4.5

NerdWallet rating 
Veterans United - PURCHASE logo

4.5

NerdWallet rating 
Min. credit score 
620

Min. down payment 
0%

Check Rate

on Veterans United

Guaranteed Rate - PURCHASE logo
Check Rate

on Guaranteed Rate

Guaranteed Rate

5.0

NerdWallet rating 
Guaranteed Rate - PURCHASE logo

5.0

NerdWallet rating 
Min. credit score 
620

Min. down payment 
3%

Check Rate

on Guaranteed Rate

Mortgage loans from our partners

NBKC - PURCHASE logo
Check Rate

on NBKC

NBKC

5.0

NerdWallet rating 
NBKC - PURCHASE logo

5.0

NerdWallet rating 
Min. credit score 
620

Min. down payment 
0%

Check Rate

on NBKC

New American Funding - PURCHASE logo
Check Rate

on New American Funding

New American Funding

4.5

NerdWallet rating 
New American Funding - PURCHASE logo

4.5

NerdWallet rating 
Min. credit score 
500

Min. down payment 
3.5%

Check Rate

on New American Funding

Rocket Mortgage - PURCHASE logo
Check Rate

on Rocket Mortgage

Rocket Mortgage

5.0

NerdWallet rating 
Rocket Mortgage - PURCHASE logo

5.0

NerdWallet rating 
Min. credit score 
580

Min. down payment 
3.5%

Check Rate

on Rocket Mortgage