CHANDLER, Ariz., Sept. 12, 2019 /PRNewswire/ -- Known for transforming the way consumers sell a home, Offerpad will soon be altering the way homes in the future are purchased. Offerpad Greenhouse, the research and development arm of real estate and technology leader Offerpad, today announced the ideation of two new industry solutions that are focused on helping the buyer move freely.
Offerpad Instant Own
2018 data shows that once a homebuyer enters into a purchase contract, they had to wait 43 days on average to close on the home. Offerpad Instant Own can dramatically shorten that timeline. The company's Instant Own program is set to provide interested buyers the option to move into an Offerpad home in as quickly as 24 hours and close within days.
"Buyers no longer need to be on any timeframe but their own. If someone tours an Offerpad home on Monday, decides they want to buy it on Tuesday and then move in on Wednesday – done. Instant Own will be their solution," says Brian Bair, Offerpad founder and CEO. "Buy a car in a day, purchase a boat on the spot, now we can help you own a home within days."
This first-of-its-kind program is expected to launch in all Offerpad cities in Q1 2020 and is currently in beta mode in select markets.
Offerpad Buyer Boost
With a pilot phase forecasted for Q4 2019, Offerpad Buyer Boost provides consumers more convenience and certainty in obtaining their desired home. The company will use its buying power to secure the property with a cash offer on behalf of the buyer.
In addition to giving them the keys to their dream home, the program will eliminate many other common barriers to purchasing a property. With Offerpad Buyer Boost, there is no need for a contingent offer or moving more than once. Overlapping mortgage payments are completely eliminated from the equation for buyers, potentially saving them thousands of dollars long term.
Offerpad Instant Own and Offerpad Buyer Boost are currently in development and fine-tuning; both offerings are estimated to launch as early as Q4 2019 through Offerpad. More program details will be revealed over the coming months. For more information on Offerpad announcements visit the press room and follow @Offerpad on Twitter, Facebook, and Instagram.
About Offerpad Greenhouse
Offerpad Greenhouse is the home for Offerpad's industry-defining technology, a fertile ground of ingenuity where the most consumer-driven solutions in real estate are cultivated and brought to fruition. Serving as the research and development arm for the company, Offerpad Greenhouse is backed by some of the brightest, forward-thinking minds in the industry. The thought leadership incubator is carrying out a progressive vision to empower all real estate consumers through innovation.
Offerpad is a leading technology and real estate company with a mission to provide the best way to buy and sell a home. Leading with firsthand real estate experience and utilizing powerful technology developed in-house, Offerpad provides direct home offers to provide modern, consumer-centric home buying and selling solutions to help more people move freely. On average, Offerpad receives new offer requests from homeowners every 30 seconds and acquires a home every 20 minutes throughout regular business hours. Offerpad is a privately held company headquartered in Chandler, Arizona, operating across the country in 700 cities and counting. Visit Offerpad.com for more information.
SOURCE Offerpad Greenhouse