OfferPad is a real estate platform to help homeowners sell their homes; investors include private funds managed by LL Funds, LLC and an investment management firm in Philadelphia; company plans to expand to additional markets; similar to competitor Opendoor, OfferPad buys homes from homeowners; current markets include Phoenix, Las Vegas, Salt Lake City, Tampa and Orlando; the company has 100 employees and will launch in Los Angeles soon. Source
loanDepot is the second largest non-bank consumer lender; OfferPad purchases homes from homeowners, allowing them to sell their house easily; the JV called OfferPad Home Loans is a stand-alone mortgage broker where loanDepot will act as the wholesale lender; OfferPad will be using loanDepot’s platform called Mello to provide the bridge financing. Source
iBuying quickly became one of the hottest terms in digital real estate over the last few years with firms like...
Buying and selling a home is a process that is full of friction. For some buyers financing is a roadblock due...
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