Homeward provides a platform that allows homebuyers to make all-cash offers on new properties while deferring the sale of their existing homes. This approach eliminates the need for contingent offers, enabling buyers to secure their desired homes quickly and sell their previous properties at market value on their own timeline.
Funding
$562.4M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
NVFounders
Product
Problem
In competitive real estate markets, buyers often struggle to secure their desired homes due to the need for mortgage contingencies and the complexities of coordinating the sale of their existing property with the purchase of a new one. Traditional financing options can make offers less attractive to sellers, and the timing mismatch between buying and selling can lead to stress and uncertainty for homebuyers.
Solution
Homeward provides a service that empowers homebuyers to make all-cash offers, giving them a competitive edge in the market. Homeward purchases the desired home on behalf of the buyer, who then has the flexibility to move in and sell their existing home at market value on their own timeline. This eliminates the need for a home sale contingency and allows buyers to avoid the stress of managing two transactions simultaneously. Once the original homebuyer secures financing, they can then repurchase the home from Homeward.
Target Audience
Homeward primarily targets homebuyers in competitive markets who need a financial solution to make stronger offers and avoid the complexities of coordinating the sale and purchase of properties, as well as real estate agents seeking to provide their clients with a competitive advantage.
Features
- Cash offer service to increase the competitiveness of buyer's offers
- Bridge financing to purchase a new home before selling the existing one
- Flexible move-in timeline, allowing buyers to settle into their new home before listing their previous one
- Elimination of home sale contingency, making offers more appealing to sellers
- Option to sell the existing home on the open market to maximize value
- Repurchase option, allowing the buyer to obtain traditional financing and buy the home back from Homeward