Introducing Orchard iBuyer program information
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The Orchard iBuyer company launched in 2017, with a goal of eliminating the stress and uncertainty involved with selling a home and buying a new one. Orchard's approach is an instant home trade-in model.
How It Works
Orchard Real Estate simplifies the home selling process, allowing homeowners to trade in their existing property for a new one. The process is designed to eliminate the complexities and uncertainties associated with traditional home sales. Like a traditional process, you will work with an experienced local real estate agent. However, Orchard guarantees the sale; if your home doesn’t sell, they will buy it. They also take care of the prep work for you, including professional photos, a 3D home tour, and listing and marketing services.
Selling your home with Orchard incurs a brokerage fee. This is similar to listing with a traditional agent and is usually between 5.5% and 6% of the home’s selling price, depending on the market.
For many interested buyers/sellers, Orchard’s buy-and-sell option can be highly compelling. In a traditional contingency model, a would-be seller and buyer create an agreement in which, should they be unable to sell their home, they are not obligated to buy the home they’re interested in.
However, sellers are not always amenable to signing a contingency agreement for a number of reasons. Among these, one of the most notable is the fact that this can often be perceived as a risky move. After all, should the buyer fail to sell their old home, the seller may feel as though they’ve essentially wasted their time.
This is where online solutions, such as Orchard’s buy-and-sell option, come in. Through this process, Orchard essentially takes on some of the risks in exchange for a program fee and assists along the way in selling your old home. With their Move First service, home buyers/sellers will be able to move into their new home before they’ve sold their old one. This can be highly advantageous, especially to those who have additional circumstances necessitating a quick move with minimum hassle.
Additionally, Orchard takes on much of the selling process when it comes time to sell your old home. They take care of listings and showings and offer additional services such as repairs and renovations that — instead of paying for upfront — you can pay for with the proceeds of the sale once your old home has sold.
Orchard will provide you with a local real estate agent who can help you navigate the process — and can provide you with offers for your old home without the need to show it in person. Instead, you’ll provide them detailed documentation of your home’s condition through photographs, after which — if it meets their criteria — they can begin providing you with commitment-free offers.
Depending on how much independence you seek or how much assistance you wish for, Orchard offers a flexible range of additional services that are completely optional — including renovation and repair services, lending services, and even the Move First service.
Beyond the core home selling service, Orchard provides various additional services to make the transition smoother for homeowners. These may include assistance with finding a new home, moving, and real estate financing, as well as their Orchard Concierge cleaning and listing services. With Concierge, you don’t have to worry about getting your home showroom ready; the company does it for you. This includes cleaning, repairs, and staging.
Orchard Real Estate Markets
Orchard is currently buying and selling homes in the following markets:
See what an iBuyer would pay for your home
"What an amazing experience. From start to finish a flawless organized team of professionals who took care of our every home … "
"We did the entire process start to finish, house evaluation, pre approval, house search, cash offer, moving, old home listing … "
"We decided to use Orchard to sell our current home and purchase a new (old) home. This has honestly been such a breeze to … "
"Really helped to have the money up front to purchase our home - process was trouble-free. Selling our home was more difficult … "
"I'm a real estate investor and recently I bought a house listed by Orchard. The process during option period until closing was … "
"The experience was OK. There was not a whole lot of communication from several of the Orchard parties and departments … "
Pros and Cons
Here's a concise overview of the top pros and cons of working with Orchard Real Estate:
Orchard simplifies the home selling and buying process, saving you time and effort.
Limited Service Area
Orchard primarily operates in Austin, Dallas, San Antonio, Houston, Denver and Atlanta.
Quick Cash Offer
Receive a cash offer for your home, allowing you to make swift decisions.
While convenient, Orchard's services may come at a cost that's higher than traditional real estate agents.
Orchard can help with moving and listing your old home.
Some customers have reported communication issues with Orchard's various departments.
Orchard is an iBuyer program that enables you to buy a new home before you've sold your current home. Orchard's goal is to remove the stress and uncertainty that typically comes with buying and selling a home, enabling you to buy a new home without worrying about the contingencies of selling your current home first.
Similar to Knock, the Orchard iBuyer program is essentially a home trade-in model. You find your dream home and Orchard buys it for you in cash, offering you an advantage in a competitive market, and then sells your old home for you.
That will be specific to your location, your home size, your home condition, and current market conditions. Orchard homes takes into account the information you provide about your home, the outcome of your complimentary home inspection, and recent sales in your area to provide a fair home value estimate.
To see what an iBuyer like Orchard homes would likely offer for your home, enter your address in our iValuation tool.
Orchard home buying and selling services are currently available in the following cities: Atlanta, GA, Austin, TX, Dallas-Fort Worth, TX, Denver, CO, and San Antonio, TX.
The Orchard iBuyer service charges a fee equal to 6% of the price that your home sells for, which is roughly equivalent to traditional real estate agent fees.
Like most iBuyers, Orchard primarily purchases single family homes built after 1960, that range in price from $125,000 to about $600,000.
Orchard homes requires a complimentary home inspection prior to giving you an estimate and a cash offer to buy your home. Because of this qualification step, the process isn't quite as instant as other iBuyer programs, but you can still expect to receive an offer much faster than you would typically receive one if you chose to list your house with a real estate agent.
No, as with almost all real estate transactions, you are responsible for closing costs and taxes.
Since Orchard does send an inspector to see your home prior to making you a cash offer, there is little room to move in negotiating your price. However, as with any iBuyer, if you feel they missed something that would increase your home's value, let them know and see if they are willing to recalculate what your home is worth.
Orchard offers fairly quick closings and you can typically close on the sale within 30 to 45 days. So, although the Orchard iBuyer model isn't quite as fast as many other iBuyer programs, it's still much faster than you could typically expect if you sold your home via a traditional real estate agent.