What OfferIQ is
OfferIQ, LLC is a Texas company that buys houses directly from the people who own them, in Dallas, Tarrant, Collin and Denton counties. We are the buyer, not a middleman looking for one, and we close at a title company like any other purchaser.
We built the site because the ordinary version of this business runs on a phone call, a walk through and a number nobody explains. Every part of that is avoidable. The county already publishes what your house is, what the lot is worth and what comparable homes carry. Your own answers about condition supply the rest.
How we make money
We buy at a number set by formula, we fix what needs fixing, and we sell. What we earn is the difference between those two, less what the work and the holding cost.
That is the whole model, and it is why the number is 75 percent of the after repair value less repairs rather than the full value. Anyone paying full retail for a house that needs work, without a commission, without an inspection period and without showings, is not a buyer. They are a story.
We would rather tell you that plainly than pretend the number is a favour. When a listing would leave you better off, your page says so with your own figures.
What we put in writing
- $2,500 of earnest money at the title company within one business day of signing, with the confirmation sent to you.
- An option fee of $1,000 paid to you within three days. You keep it whether or not we close.
- 10 days for us to inspect. If we walk away in that window, you keep the option fee.
- Closing within 21 days, or on a later date you choose.
- $1,000 paid to you if we miss the closing date for any reason other than your default or a title problem.
- No commission, no repairs, no closing costs, no owner’s title policy. We pay all of it.
Where our numbers come from
The county appraisal districts publish a record for every parcel: the lot, the building, the year, the value and the assessing neighbourhood they put it in. We read those services directly, which is why your page can show what your house is worth before you have typed anything but an address.
Texas does not publish sale prices, so nobody in this state can honestly show you comparable sales from public data. What we show instead is what the district values comparable homes at, how many of them, and at what rate per square foot. It is an estimate from public records, and the page says so in those words.
When we are the wrong answer
If you have several months and the money to prepare a house for the market, a listing will usually put more in your hands. If you owe more than the house is worth, a cash sale does not work at all, and the route is a short sale through your lender with an agent.
Both of those are on your page when they are true, because a company that never says no is a company that is selling you something.
What we are not
We are not a real estate brokerage, we are not license holders, and we do not represent you or anybody else in a transaction. We give no legal, tax or financial advice.
We buy as a principal and may assign the contract to another buyer before closing. When we do, we hold an equitable interest under the contract and not title, and we disclose that whenever the property is shown or marketed.
Where to find us
OfferIQ, LLC, 5606 SMU Blvd #600715, Dallas, TX 75206. A person is reachable from every screen on this site, and we do not call you unless you ask us to.
If you work with homeowners professionally, there is a page for agents, attorneys and fiduciaries.