Imagine ordering your favorite dish at a restaurant. You’re eagerly waiting for it to arrive, and when it finally does, you notice something strange on the bill — a hidden fee you weren’t expecting. It’s frustrating. Unfortunately, hidden fees and costs are not just limited to restaurants, but they can also occur when selling your home, especially when using services like OfferPad.
At OfferPad, their goal is to simplify the home selling process by buying homes directly from the owners, but as with any service, there are costs involved. While OfferPad may seem like a convenient option, it’s essential to understand the fees and expenses associated with their service to make an informed decision when selling your home. We will discuss what you need to know about OfferPad to make an informed decision when selling your property.
What Is OfferPad?
OfferPad is a real estate service that buys homes directly from owners, offering a convenient and speedy process. The service is designed to help homeowners sell their homes without going through the traditional home-selling process, which can be stressful and time-consuming.
The increase of 11% in the national median home price for active listings is a positive development for property sellers. However, it highlights the importance of transparency in the fees associated with selling a property, particularly with OfferPad’s hidden costs. Property sellers must know exactly what they will be paying to avoid unnecessary expenses and ensure they get the most market value for their property.
Setting the correct selling price for homeowners is one of the most difficult tasks when selling their homes, and this is a challenge experienced by 16% of them. The difficulty in pricing a home correctly is mainly because homeowners need access to the same resources and tools as real estate agents. As a result, homeowners may turn to companies like Offerpad, which claims to offer a simple and convenient way to sell a home quickly.
Nevertheless, it is important to note that OfferPad — like many other companies in the real estate industry — may have hidden fees and costs that homeowners need to be aware of before choosing to work with them. These fees can include home inspection costs, repair costs, and other fees that can add up and eat into the profit that a homeowner can make from the sale of their home.
Typical Fees
OfferPad offers two main selling options: OfferPad Express and OfferPad Flex. With OfferPad Express, sellers pay a 6% service fee on the sale of their home. This option is ideal for those who want a quick, hassle-free sale.
On the other hand, OfferPad Flex charges a 6% commission fee (based on the industry average) and a 1% seller concession fee for monetary credits. While this option allows for more flexibility in the selling process, it’s important to note that the fees can add up quickly, especially if the sale price is high.
Costs Explained
When selling your property through OpenDoor or OfferPad, it’s important to remember that as the seller, you will be responsible for the closing costs associated with the transaction. Additionally, if any issues are discovered during the home inspection process, you may be required to provide repair credits or consider lowering the asking price.
These factors can significantly impact the final amount of money you receive from selling your property, so it’s important to carefully consider all associated costs before deciding to work with OfferPad or any other real estate service provider.
I Buy SD Offers the Most for Your Property
While OfferPad may seem like a convenient option, it’s essential to understand the fees and costs associated with their service to make an informed decision when selling your home.
Most recent buyers — which is 86% — still perceive realtors as a helpful source of information. I BUY SD offers a hassle-free solution to selling your home without hidden fees or costs. If you’re looking to sell your San Diego property for cash, we encourage you to request a free instant cash offer for your home to find out how much it’s worth. Contact us today to learn more about our services and how we can assist you to sell my house fast San Diego!
