Offerpad Expands Footprint in Colorado to Give Residents in Colorado Springs and Fort Collins More Real Estate Options

Rhea-AI Summary

Offerpad (NYSE: OPAD) has expanded its services in Northern and Southern Colorado, launching in Colorado Springs and Fort Collins. This expansion increases Offerpad's reach to over 170 ZIP codes across Colorado, enhancing home buying and selling options. Customers can receive cash offers within 24 hours and enjoy flexible closing dates, eliminating the stress of traditional real estate processes. With services available in 27 U.S. markets and nearly 1,800 cities, Offerpad continues to grow its innovative real estate solutions.

Positive

• Expansion into Colorado Springs and Fort Collins increases market coverage to over 170 ZIP codes.
• Competitive cash offers within 24 hours enhance customer appeal.
• Flexible closing dates help customers avoid costly conflicts.

Negative

• None.

Company’s one-stop real estate solutions now available in more than 170 ZIP codes across the state

CHANDLER, Ariz.--(BUSINESS WIRE)-- Offerpad (NYSE: OPAD), a leading tech-enabled platform for buying and selling residential real estate, today announced its expansion in Northern and Southern Colorado with the launch of its newest markets, Colorado Springs and Fort Collins. From competitive 24-hour cash offers and flexible listing options to mortgage services that let buyers lock in interest rates for up to 90 days, Offerpad is transforming the home buying and selling process to give Colorado residents more control in an ever-changing housing market.

“Since opening in the Denver market early last year, we’ve seen strong interest from the community and high customer satisfaction¹ with our real estate solutions,” said Offerpad Chief Real Estate Officer Vaughn Bair, a 20-year real estate veteran. “We are excited to now help Coloradans in Fort Collins and Colorado Springs buy and sell homes with simpler alternatives that empower them to ‘real estate’ on their own terms.”

Offerpad’s real estate solutions help eliminate uncertainty for buyers and sellers in Colorado by giving them the freedom to choose the options that best meet their needs, including:

• Competitive cash offers within 24 hours
• Flexible closing dates to help avoid costly conflicts like multiple moves or double mortgage payments
• No open houses or showings
• Complimentary extended stay options so sellers may remain in their current home for up to three days after Offerpad buys it
• Free local moves (up to 50 miles) when they sell direct to Offerpad²

Sellers also have the option to list their home on the open market with a local Offerpad agent. Offerpad takes care of almost everything for sellers, including house cleaning and yardwork, to help prep their home for sale. Some customers may even be eligible to keep Offerpad’s cash offer as a backup³.

As saving money remains top of mind for all Americans, bundling buy, sell and finance services through Offerpad’s Bundle Rewards program could offer thousands in savings⁴. For home seekers worried about rising interest rates, buyers using Offerpad Home Loans can lock in their rate for up to 90 days while looking for a home for even more peace of mind in an often-uncertain market.

Offerpad continues Southwest expansion

Offerpad’s real estate solutions are now available in more than 170 ZIP codes across Colorado. Sellers can visit Offerpad.com today to submit a free cash offer request or talk to a real estate expert in their local area about selling their home on the open market. With the addition of Offerpad’s two new Colorado markets, the company’s real estate solutions are now available in 27 U.S. markets and nearly 1,800 cities and towns across the country. Offerpad will focus on growing its footprint around regional hubs in the Midwest, Southeast and Southwest through the remainder of 2022 with plans to expand to Cincinnati, Ohio and Fort Wayne, Ind. later this year.

¹ Based on a survey of more than 1,000 customers.

² Terms and conditions apply. Learn more here https://www.offerpad.com/move-for-free/.

³ Terms and conditions apply. Not every home or customer will qualify for the back-up cash offer, please discuss eligibility with your Offerpad representative. Learn more here https://www.offerpad.com/flex.

⁴ Offerpad Bundle Rewards are not available in all states or situations. Terms and conditions available at https://www.offerpad.com/sell-and-buy.

About Offerpad

Offerpad’s mission is to deliver the best home buying and selling experience so you can spend less time ‘real estat-ing’ and more time living. From cash offers and flexible listing options to mortgages and buyer services, Offerpad has been helping homeowners since 2015. We pair our local expertise in residential real estate with proprietary technology to put you in control of the process and help find the right solution that fits your needs. Offerpad’s real estate solutions are available in 27 U.S. markets and nearly 1,800 cities and towns across the country. Visit Offerpad.com for more information.

Forward Looking Statements

Certain statements in this press release may be considered forward-looking statements. Forward-looking statements generally relate to future events or Offerpad’s future financial or operating performance. For example, statements regarding Offerpad’s market expansion plans, are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “pro forma,” “may,” “should,” “could,” “might,” “plan,” “possible,” “project,” “strive,” “budget,” “forecast,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “potential” or “continue,” or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Offerpad and its management, are inherently uncertain. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Offerpad does not undertake any duty to update these forward-looking statements.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20220630005264/en/

Laura Collins

Press@Offerpad.com

(480) 220 - 0021

Source: Offerpad

FAQ

What is Offerpad's recent expansion news related to stock symbol OPAD?

Offerpad has expanded its services into Colorado Springs and Fort Collins, reaching over 170 ZIP codes in Colorado.

How does Offerpad help buyers and sellers in Colorado?

Offerpad provides competitive cash offers, flexible closing dates, and various home selling options to simplify the real estate process.

What markets does Offerpad currently serve?

Offerpad's solutions are available in 27 U.S. markets and nearly 1,800 cities and towns.

What benefits does Offerpad offer to customers using its services?

Customers can receive cash offers in 24 hours, enjoy complimentary local moves, and access flexible listing options.