New direct home buying business promises sellers offers within 24 hours

New direct home buying business promises sellers offers within 24 hours

CHARLOTTE, NC (WBTV) - Need to sell a house in the next 24 hours? A company that recently expanded its operations to Charlotte claims they can make that happen.

OfferPad is a direct home buying business that promises to make home buying and selling easy.

Potential clients can go to the OfferPad website, provide the company with information about their home and upload pictures. Within 24 hours, OfferPad guarantees an offer.

While some are praising OfferPad's convenience, others are worried it's too good to be true.

Realtor Theautry "TX" Green said some of his clients began the OfferPad home selling process, but soon questioned the quality of OfferPad's quick quotes.

"Once they had the initial contact and actually got a quote, it was far lower than what they anticipated," said Green.

Green said OfferPad also doesn't require a realtor to be included in the process, which concerns him. But he says OfferPad's immediacy may be ideal for some sellers.

"For someone who, let's just say, inherited property and they're in another state and want to get rid of it," Green said.

Lauren Eason of Giving Tree Realty demonstrated what OfferPad offered her for one her investment properties.

"OfferPad offered $159,960 and I had it listed at $250,000 - basically it was $90,000 less that what I would list it," Eason said. However, she said OfferPad may be an option for a seller who's property needs major repairs.

OfferPad CEO Brian Bair sent WBTV this statement:

"OfferPad is a real estate technology company providing a next generation experience for buyers and sellers. We've combined our years of real estate expertise with technology and data to provide buyers and sellers with a step-by-step guided service throughout the entire real estate process. The way people buy and sell real estate is changing as more educated consumers want better ways to transact. OfferPad is at the intersection of technology and real estate…"

OfferPad said it offers an Agent-on-Demand program, similar to Uber, for buyers wanting to view homes and for those who are interested in the service but want a local agents help.

According to OfferPad's website, the company also works with local realtors who have homes listed.

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