Offerpad has been the subject of several lawsuits in recent years, alleging various forms of misconduct, including:
- Unfair and deceptive trade practices: Plaintiffs have alleged that Offerpad has engaged in unfair and deceptive trade practices, such as misleading consumers about the terms and conditions of its offers, failing to disclose important information about its services, and pressuring consumers into selling their homes quickly.
- Violation of state and federal consumer protection laws: Plaintiffs have alleged that Offerpad has violated state and federal consumer protection laws.
- Negligent real estate brokerage: Plaintiffs have alleged that Offerpad has been negligent in its real estate brokerage duties, which has caused them to suffer financial losses.
In one notable case, a group of sellers filed a class-action lawsuit against Offerpad in 2023, alleging that the company had engaged in unfair and deceptive trade practices. The plaintiffs alleged that Offerpad had misled them about the terms and conditions of its offers, and that they had suffered financial losses as a result.
The class-action lawsuit is still ongoing.
In another case, a seller filed a lawsuit against Offerpad in 2022, alleging that the company had been negligent in its real estate brokerage duties. The seller alleged that Offerpad had failed to properly market her home and had failed to negotiate a fair purchase price. The seller also alleged that Offerpad had failed to disclose important information about the buyer’s finances, which had caused her to sell her home for less than she could have gotten.
The case is still ongoing.
Offerpad has denied any wrongdoing in all of the lawsuits that have been filed against it.
The recent lawsuits against Offerpad have raised concerns about the company’s business practices and its commitment to consumer protection. Some consumer advocates have called for stricter regulation of the iBuyer industry.
If you have had a negative experience with Offerpad, you may want to contact a lawyer to discuss your legal options.
Here are some specific allegations in Offerpad lawsuits:
- Sellers have alleged that Offerpad has made low-ball offers on their homes without adequately inspecting the properties.
- Sellers have alleged that Offerpad has pressured them to sell their homes quickly, even if they are not ready to do so.
- Sellers have alleged that Offerpad has failed to disclose important information about its services, such as its fees and its cancellation policy.
- Buyers have alleged that Offerpad has failed to properly inspect the homes it sells, and that it has sold homes with undisclosed defects.
- Buyers have alleged that Offerpad has failed to disclose important information about the sellers, such as their financial problems.
If you have been affected by Offerpad’s business practices, you may be able to file a lawsuit to recover compensation for your damages. You should contact a lawyer to discuss your options.
