Xome is a legitimate real estate company offering a wide range of services for both buyers and sellers of real estate.  Founded in 2012 and based in Lewisville, Texas, Xome operates as a subsidiary of WMIH Corp. Xome is a provider of a complete online real estate marketplace which includes both traditional MLS listings and auction properties. It is accredited by the Better Business Bureau (BBB) and has an A+ rating. The BBB gives Xome an average customer review rating of 1 out of 5 stars based on one customer review. It has closed eight customer complaints over the past three years, two of which were responded to in the last twelve months. 

What Types of Properties Do They Buy?

Xome deals in a wide array of property sales, including: 

• Residential Properties: Single-family homes, condos, and townhouses.
• Foreclosures: Properties that have been repossessed after the homeowner’s failure to make payments. 
• Short Sales: Sold for less than the unpaid mortgage balance.
• Bank-Owned Property (REO): A property owned by a lender after going through foreclosure.
• Commercial properties: include office buildings, retail outlets, and industrial buildings.

This variety caters to end buyers and investors.

Coverage area

Xome operates nationwide throughout the United States, covering both urban, suburban, and rural markets. You can search properties for sale in pretty much any state or city through the platform, offering accessibility to a wide range of buyers. That said, property availability can vary depending on your location so you should check listings in your particular area of interest.

Selling process

Selling a property through Xome involves several key steps:

• Property Evaluation: Sellers provide details about their property, and Xome conducts an assessment to determine the home’s condition and market value.
• Listing Agreement: Once the seller agrees, the property is listed on Xome’s platform, allowing it to be seen by a wide array of potential buyers.
• Marketing Campaign: Xome launches marketing campaigns to draw potential buyers, such as targeted online advertising and email marketing.
• Auction Process: Properties may be sold through an auction whereby competitive bidding amongst those in attendance, by phone or through online interactivity, can help achieve the best price for a vendor.
• Closing: Once a bid is accepted, Xome facilitates the closing process, ensuring all legal and financial aspects are handled efficiently.

This one-step process is designed to make selling as convenient as possible. It works particularly well for people who want to sell quickly.

Xome Payout

The payout a seller receives from Xome will depend on multiple factors:

• Final Sale Price: The highest bid in the auction or the agreed-upon offer.
• Fees and Commissions: Xome charges fees for their services, which are deducted from the sale proceeds.
• Outstanding Liens or Mortgages: The sale proceeds will be used to pay off any existing debts (e.g., mortgages) secured by the home.

Sellers get the net proceeds after all such deductions. Check with a Xome representative for all terms and fees to know what you will get.

Xome Reviews

Customer reviews of Xome are mixed across various review platforms: 

• Google Reviews: Xome has an average of 4.3 stars out of 102 reviews.
• Yelp: The profile is unclaimed, indicating little interest in maintaining presence on the platform.
• Better Business Bureau (BBB): Xome has an A+ accreditation, an average customer review rating of 1 out of 5 stars based on 1 review, 8 complaints have been closed in the last 3 years, 2 complaints have been closed in the last 12 months. 

While many users are happy with the comprehensive services that Xome provides and the user-friendly nature of the Xome platform, some concerns have been raised. 

Pros & Cons: 

Pros:

• Diverse Property Listings: Offers a wide range of properties, including distressed and traditional homes.
• Nationwide Coverage: Accessible to buyers and sellers across the U.S.
• Streamlined Process: Combines multiple services into a single platform, simplifying transactions.

Cons:

• Mixed Customer Reviews: While many users report positive experiences, some have raised concerns about contract terms and title issues.
• Limited Yelp Presence: An unclaimed profile may indicate less focus on this review platform.
• Potential Title Complications: Some users have reported issues with title clarity, necessitating careful review.

Competitors

Xome is part of a competitive real estate landscape that includes the following competitors:

Redfin: A technology-powered real estate brokerage that helps people buy and sell homes.

Realtor.com: related comprehensive real estate listing platform connecting buyers and sellers.

Zillow: A prominent online real estate platform offering property listings and market data.

Auction.com: Specializes in real estate auctions, particularly foreclosure and bank-owned residential properties.

Hubzu: Online real estate marketing platform for residential and commercial properties.

Competitors Analysis

Compared to other home buying websites, Xome is a hybrid of a traditional listing with an auction site. This means that it has something for everyone. Xome is a great site for investors or individuals looking for auction houses or foreclosures. Redfin and Zillow focus more on the traditional approach to buying and selling real estate. But the Xome auction is a neat feature if you’re into auctions! However, Xome’s competitors all have better customer reviews and are more user-friendly.

Other Alternatives to Consider

Depending on what you’re looking for, consider these alternatives: 

• Opendoor: Get an instant cash offer on your home.
• Hubzu: Much like Xome, Hubzu focuses on online real estate auctions, with a healthy supply of properties.
• Offerpad: Makes fast offers and lets sellers choose closing dates, a good option for sellers who want convenience.

Xome Reviews: Should You Sell To Xome?

Whether or not you should sell your home with Xome depends on your unique situation and objectives. If you have a distressed property or need a quick sale, selling through Xome’s auction platform could be a good option. Just make sure to do your due diligence around any title issues and keep the mix of good and bad customer reviews for Xome’s service in mind.  Compare your options to list your house with Xome or other platforms with the associated fees and processes so you can make the best decision for your real estate needs.

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