First American and Offerpad Partner to Provide 24-hour Closing for iBuyer
May 25, 2021
Offerpad recently partnered with First American Title Insurance Co. to help a home seller close escrow on their sale in just one day.
Offerpad’s 24-Hour Close option allows home sellers more freedom, flexibility and certainty with a cash sale. 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.
“First American is committed to leading the digital transformation of the title and settlement industry. Completing a next-day closing with Offerpad and supporting the ongoing pilot program reflect our advantages in technology, the efficiency of our operations, and the commitment of our people to delivering for our customers,” said Dennis Gilmore, CEO at First American Financial Corp. “We continue to invest in new and innovative approaches to enhance the real estate closing transaction experience for all the parties involved.”
The 24-hour close option is available as a pilot program in Offerpad’s Las Vegas, Phoenix and Tucson markets.
“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."
When combined with the Offerpad’s recently announced Extended Stay options, sellers choosing a 24-hour close can use funds from the proceeds of their sale while having the ability to stay in their home for up to 90 days as they plan their next move.
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