Homeward Real Estate - Program Details

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With the mission to transform the traditional home selling process, the Homeward program was launched, which was designed for fast and easy home selling. Homeward Cash Offers are also available to help you buy a new home and sell your current one.

How It Works

  • Homeward Real Estate is a compelling option for many home buyers and sellers. Through Homeward, home buyers are able to receive a cash offer for their current home as they seek out a new home, enabling them to enjoy a greater degree of flexibility throughout the buying and selling process.

    This can be particularly helpful, especially to homeowners who are looking to move quickly and wish to avoid an overcomplicated buying and selling process.

  • Through a traditional process, it may be necessary to first sell the old house in order to secure funding sufficient to begin buying a new home. However, through Homeward, buyer-sellers may be able to enjoy a greater degree of freedom in the approach they take to both buying and selling.

    Homeward will make them an initial cash offer, after which point, the home buyer-seller and Homeward can collaborate on selling the old home.

  • For some home buyers or sellers, this may be an ideal option — potentially enabling them to seek out a home closer to their intended price range but without the lengthy selling process.

    Through Homeward, customers can instead make a cash offer on a new home, move in, and continue with the process of selling their old home.

  • How is Homeward able to do this? In short, it’s due to their buying and selling process. After you’ve made an offer for the new home, which you collaborate with Homeward on, Homeward buys the new property on your behalf. Once you’ve sold your old home — which, again, you’ll collaborate with Homeward on — you can use that funding to purchase the new home from Homeward.

    Where this can prove particularly advantageous is you’ll already be living in the new home at this point. Let’s explore the process to get a better understanding.

Homeward Real Estate Markets

Homeward Real Estate is currently buying and selling homes in:

See what an iBuyer would pay for your home

The Process

So how does it work in application? Let’s explore.

  1. Approval Process

    First, it’s important to seek approval through Homeward. This is the very first step in the process, and once you’ve been approved, you’ll be able to start making an offer for the new home that you’re seeking. The reason why the approval step is so important is that this is the process through which Homeward is able to confidently make a cash offer on your behalf. This will also determine the amount you’re able to make in a cash offer, and it may inform Homeward how much you’re willing or financially able to put toward the new home.

    During this process, you’ll first complete and submit your application. You’ll collaborate closely with a Loan Officer Assistant, through whom you’ll work to provide the necessary information and documentation for the approval process. Should there be additional information that you need to provide to move forward, they may reach out to you via email or phone. For this part of the process, Homeward recommends frequently checking your email and promptly returning calls.

    During the approval step, you’ll also be connected with a customer experience manager, who is tasked with acting as your point of contact as you navigate the process. This may also be the period during which you work with your agent to locate a suitable home. During this time, the Homeward team will ensure that the home you’re seeking to sell is suitable and meets Homeward’s criteria.

  2. Making an Offer

    Once you’ve achieved approval through Homeward, you’re now able to make a cash offer to a potential seller. You’ll work with your real estate agent, who will make the required offer request through Homeward’s platform, and then work with your assigned customer experience manager to write an offer to submit to the potential seller. This will be when you select a lender. Homeward also offers its own lending service, so you may be able to secure a mortgage through them.

    Additionally, this is the period during which Homeward will ensure that the home you’re interested in making an offer on fits their required criteria for making an offer. If so, your real estate agent will then be able to submit a Homeward offer to the potential buyer.

  3. Finalizing

    Should the seller accept your Homeward offer, it will now be time to close the deal. At this point, you may need to pay your earnest money deposit and work to finalize your loan. Next, you’ll sign the necessary paperwork, including a Customer Purchase contract and residential lease. After you've signed these documents, you’ll essentially be renting your home from Homeward until you’re able to buy it from them.

  4. Moving In

    Since you’ve signed a lease agreement with Homeward, you’ll now be able to move into your new home, regardless of whether or not the sale of your old one has been finalized. You’ll now have a period of six months in which you’re able to rent the new home from Homeward. You’ll have a period of two weeks to list your old home on the market at this point.

  5. Selling The Old Home

    Now, you’ll have six months to sell your old home, during which time you’re able to rent the new one from Homeward. Once you’ve sold the old home, the next step will be to take on a mortgage for your new home.

  6. Buying From Homeward

    After selling your old home, it’ll be time to buy your new home from Homeward, establishing your mortgage. Now you’ll be the owner of your new home, which you’ve already been living in.

Additional Considerations

So, how does Homeward make money through all this? Fortunately, Homeward has a highly transparent pricing model. They even offer a pricing page that you can consult to get a better idea of what costs and fees you may need to pay, including those which Homeward does not profit from — such as property taxes, HOA fees, inspection costs, and brokerage commissions.

Homeward also explains that you’ll need to pay a program fee, which will be 5% of the sale price of the home. This is often the primary means through which Homeward makes money. Additionally, Homeward may earn money through their title or through their mortgage service, should you opt to use one of them.

Additionally, it’ll be important to ensure that the homes you’re interested in buying and selling are located within markets that Homeward services. They may have additional criteria upon which they base their decision to approve or not approve an application.

Homeward Reviews

Homeward reviews may offer some insight into this service. As such, it can be helpful to explore some of the things that users have said about Homeward’s services. Let’s explore some reviews to gain a better understanding of Homeward’s services and whether they might be right for you.

"The process from loan approval to being a cash buyer to having time to sell my home was so easy. I would not have been able to do with … "

"Using Homeward helped us in a number of ways throughout the process. For one, we had a stronger negotiating position when … "

"The process from start to finish was less stressful than if we had done a traditional contingent offer. Even though we end … "

"Overall, we were pleased with the experience. The convenience fee - for us - was just that....it made the purchase possible … "

"Overall we were satisfied with how everything went. Yes, there were a few hiccups, and fee's for their services, but with … "

"The concept of enabling a buyer to increase the likelihood of winning a bidding war on an excellent home by placing a cash … "

Pros and Cons

So, what are some potential pros and cons of Homeward’s programs? Let’s explore.

  • Pro

    Transparent Pricing

    One standout potential benefit of Homeward’s services is that they offer highly transparent pricing. This enables potential customers to accurately understand what costs they might face in buying and selling through Homeward.

  • Con

    Not Available in All Markets

    While Homeward’s services have been commended by many reviewers, it’s worth noting that they don’t offer service in all markets in the United States.

  • Pro

    Potentially Quick Process

    Another potential benefit of Homeward is that they seem to often be able to offer home buyers/sellers a very fast process, which, compared to traditional buying and selling methods, can be particularly impressive.

  • Con

    Some Fees Involved

    A potential con of using Homeward is that there are some fees involved. However, they’re very upfront about what fees you’ll face and offer a solid service in exchange that many individuals will likely find well worth the cost.

  • Pro

    Live in Your New Home While You Sell The Old One

    One major potential pro is that through the Homeward process, you can move into your new home before you’ve sold your own home.

  • Con

    Not All Homes Eligible

    A potential drawback of Homeward is that not all homes may meet their eligibility requirements. As such, in some cases, it may not be possible to sell the home you want or buy the home you want through Homeward.

  • Pro

    Use Your Own Agent / Financing Solutions

    Another potential benefit of Homeward is that through their process, you’ll be able to use your own real estate agent and, if you so desire, work with your own lender.

  • Con

    May Not Be For Everyone

    Finally, one potential drawback is that this service may not be the optimal solution for everyone. Those who are interested in taking on the process of selling and buying independently in order to avoid associated fees, for example, may find it isn’t the ideal choice for them.

FAQs About Homeward Real Estate

Homeward is an iBuyer program that allows you to purchase your new home before you sell your current home. By offering an instant Homeward cash offer, you’ll be empowered to make lower cash offers on your next home because you’re paying cash.

When you choose to list your home with them, Homeward bound real estate will find you the highest qualified buyers and negotiate for a better price. They are devoted to giving the best prices so you can sell your home at the fairest price possible.

Homeward’s charges depend on the specific program. If you’re looking to buy a home with cash, then you will pay a convenience fee, which is a percentage of the purchase price — specifically 1.9%. If you would prefer not to pay this fee, you can get a mortgage through Homeward Mortgage, your fee will effectively be reimbursed. Homeward Mortgage will contribute 1.9% of the purchase price to your closing costs. For the buy before you sell program, Homeward charges 1.9% as well, but offers a 0.5% credit at closing through Homeward Mortgage, effectively making the rate 1.4%.

Homeward is a platform that enables homeowners to sell their homes hassle-free or benefit from Homeward buy with cash for their next home. They are devoted to giving you lower upfront costs to increase the amount of cash that you receive on your home. They will buy a home in any condition without the need to pay for repairs. Then, they set a closing date for the sale of your home that suits your schedule. After that, they will pay you cash immediately after the sale closes.

There are many ways to get the best out of Homeward home buying. For example, you can use Homeward lending or sign up for a Homeward mortgage if you need to buy a new home without having to sell your existing home.

Homeward buy with cash enables you to buy your next home, make instant cash offers, and negotiate a deal using Homeward’s funds. Meanwhile, buy before you sell allows you to make instant cash offers for your next home before you get funds from selling your current home. Buy with cash is typically ideal for first-time homeowners, while buy before you sell is ideal for those who are transitioning between homes.