Redfin Now Reviews: Is this iBuyer worth a shot in 2022?

💰 Redfin Now Service Fees	5% – 13%
💰 Repairs	0 – 3%
💰 Listing Fee	NA
💰 Closing Costs	1%
⚡Closing time	10 – 90 days
⚡Home prep criteria	Sell as is
💲 Double Mortgage	NA
💲 Seller Discounts	NA

Is Redfin Now Legit?

Yes, Redfin Now is a legitimate iBuyer that makes an instant cash offer for your home. As of today, Redfin Now is quickly gaining momentum like its counterparts Offerpad and Opendoor, having a presence in over 20 markets.

» READ: Want to learn more about Redfin? Check out our guide!

Are You Eligible?

The most significant advantage that iBuyers have over traditional sales is the speed with which you can sell your home. It eliminates the hassle of home preparation with the highest level of reliability. However, your home must meet the stringent purchase criteria.

✅ You are eligible if:

• If your lot size is under half an acre
• Mentions a clear title
• If house is valued between $150,000 – 1.5 Million
• Is in good condition with minimum to no repairs
• Is owner occupied or vacant
• In case of tenant occupied properties, it must be vacant before escrow

❌You are not eligible if:

• It is a mobile home
• The property has an outstanding mortgage higher than the market value
• If it has significant damage
• If it has multiple structural issues
• The total lot size is more than an acre
• If it has unpermitted conditions

You can additionally check your eligibility by entering your home address on the Redfin Now website directly.

Redfin Now Locations

They have expanded to multiple cities and over 10 states. Redfin Now actively buys eligible homes for cash in:

State	City
Arizona	Phoenix
California	Inland Empire Los Angeles Orange County Palm Springs Sacramento San Diego San Francisco
Colorado	Denver
Maryland	–
Massachusetts	Boston
Nevada	Las Vegas
Oregon	Portland
Texas	Austin Dallas Houston San Antonio
Virginia	–
Washington	Seattle
Washington D.C.	–

How Does Redfin Now Cash Offer Work?

Selling you house on Redfin Now takes anywhere between 10 – 90 days. Their selling process is fairly simple and straightforward.

Request » Cash offer » Inspection » Final offer

Lets break it down further:

Enter property details on the website

Enter your complete address on Redfin Now’s main page to check your general criteria. Upload photos that detail the property. Answer questions to prove eligibility. If it passes the eligibility criteria, you will receive a preliminary offer from representatives within few days. This also includes your service fee.

Inspection

Once the initial offer has been accepted, Redfin Now can organize an inspection. They pay for the inspection, which is completed within a week of the offer being accepted. A full report on the house’s issues will be sent to you. Before making you a final cash offer, it analyses the cost of repairs and the market value of your home. If you disagree with the estimate, you can also cancel the sale.

Redfin Now final cash offer

This final offer comprises a comprehensive market study, the service fee of 5 – 13%, and the cost of repairs anywhere between 0-3%, all of which have been deducted from the original offer. Bear in mind, you will also be responsible for paying the closing costs of 1%.

Closing

After your property ownership is confirmed you will be presented with Redfin Now’s final cash offer. Once you accept, you can sign the sale documents, and pick your closing date between 10 – 90 days. In case of emergencies, Redfin Now offers the flexibility of renting your house for 60 days after successfully closing.

Redfin Now Pricing

Pricing will always be determined by the market and the condition of your home.

Total Fee Breakdown

Service fee	5- 13%
Repair estimate	0 – 3%
Closing cost estimate	1%
Total	6 – 17%

💡 QUICK TIP: Most listings on the MLS are cash offers. So why not save thousands and list on the MLS instead?

Can You Negotiate With Redfin Now?

No, you cannot negotiate. If you find an error in their estimate, you can request an updated offer. You will get five days to finalize and proceed.

Redfin Now Reviews

Pros

Simplicity	Many Redfin Now reviews expressly mention how simple the selling process is, from requesting and offer to closing.
Reliability	Once you agree with the estimate, you will instantly receive a reliable cash offer
Quick closing	You can pick your closing days and successfully close the sale within 2 weeks.

Positive Customer Redfin Now Reviews

Cons

Strict criteria	The eligibility criteria for Redfin Now is strict does not approve houses easily.
Unreliable Cash Offer Estimate	Redfin Now is not upfront about the service fee of the market. There is no way of knowing if you are paying higher or lower
Negative Consumer Redfin Now Reviews	Many Redfin Now reviews online mention the lack of promptness at receiving a preliminary offer and payments unless personally contacted or an involvement of an outside party.

Negative Customer Redfin Now Reviews

There you go! Redfin Now has had a consistent reputation for adding unnecessary service fees that defeat the purpose of the cash offer completely.

Redfin Now Alternatives: How Do They Compare?

Redfin Now vs Opendoor vs Offerpad

Parameters	Redfin Now	Opendoor	Offerpad
Average rating on Trustpilot	2.8	3.6	4.6
Service Fee	6 – 12%	5%	5%
Closing Fee	1%	1%	1%
Markets serviced	31	45	22
Repair costs	0 – 3%	Varies	Varies
Closing days	Flexible	Flexible	Flexible
Cancellation charges	None	None	1% (4 days after inspection report)

Finding cash buyers on the MLS

Listing on the MLS is cost-effective, quick, and reaches all licensed agents in the state. Although Redfin Now provides a quick closing, you will incur thousands of dollars in service and repair costs. The MLS, like the real estate market, is competitive. As a seller, you will frequently receive multiple bids in the form of instant cash offers. So why not opt for the option with a one-time flat fee?

Houzeo vs Redfin Now

Let’s have a look at some of their features:

Redfin Now vs Opendoor

The services they are offering are similar but the way they function is completely different. Both have a strict criteria with Opendoor having a lower acceptance rate. Redfin Now also charges a high service fee percentage and lacks in reliability. In terms of markets serviced, Opendoor serves a wider audience as compared to Redfin Now.

Redfin Now vs Offerpad

Offerpad, like Redfin Now, is a newcomer to the market. However, they serve a smaller number of locations than Redfin Now, which has a 31-market reach. However, Offerpad charges a significantly lower service fee and provides seller concessions, whereas Redfin Now does not. They are also both free of cancellation fees.