Offerpad, the tech-enabled Real Estate Solutions Center and a leading iBuyer, in partnership with First American Title Insurance Company, a leading provider of title insurance and settlement services and the largest subsidiary of First American Financial Corporation (NYSE: FAF), recently helped an Offerpad home seller close escrow on their sale in just one day.
Currently available as a pilot program in Offerpad’s Las Vegas, Phoenix and Tucson markets under the company’s research and development department, Offerpad Greenhouse, the 24-Hour Close option significantly reduces the typical home closing timeframe for sellers. First American Title’s automated processes, including its proprietary Ignite transaction platform and Secure Portal, technology integrations, and dedicated Proptech team all helped streamline a process that typically takes 30-45 days.
Offerpad’s 24-Hour Close option allows home sellers more freedom, flexibility and certainty with a cash sale and expertly engineered home closing processes that provide a true on-demand selling experience. First American Title’s close cooperation with Offerpad made the companies’ first next-day close of escrow a reality for a Nevada customer who wanted to quickly qualify for his next home purchase.
“Our passion for solving customers’ pain points is what drives Offerpad’s innovation in providing the right solutions for their real estate needs,” said Brian Bair, Offerpad’s founder and CEO. “Empowering sellers with 24-hour cash offers and the option to close escrow in 24 hours allows them to design a solution that fits their individual situation, giving both our customers and Offerpad a unique advantage when it comes to buying and selling a home.”