About Opendoor

By Derek Lakin
HighYa Staff Updated on: May 10, 2019

With more than 40,000 satisfied customers, Opendoor helps you buy, sell or trade-in your home without the hassle of putting it on the market. By purchasing your home from you, Opendoor aims to eliminate the uncertainty of a traditional home sale and provide you with complete control over your moving timeline. Their selling process can be summed up in three steps:

  1. Enter your home’s details to get an offer.
  2. Schedule a free home assessment.
  3. Close and get paid.

It certainly seems like Opendoor has dramatically simplified the home selling and buying process, as claimed on their website. But does that mean they’re the right option for you? We’ll help you come to an informed conclusion, starting with how it works.

How Does the Opendoor Selling Process Work?

As we mentioned a few seconds ago, Opendoor features a three-step process.

1. Requesting an Offer

To request an offer on your home, you’ll start by entering your address on Opendoor’s home page. The company currently buys and sells homes in 20 major cities in the United States, including Atlanta, Las Vegas, Orlando, San Antonio, Portland and Los Angeles.

From there, you’ll input different details about your home (e.g., number of beds/baths, square footage, the condition of kitchen/baths/backyard, renovations, etc.), which shouldn’t take more than a few minutes.

Opendoor's team of real estate experts will then review comparable home sales in your area, market data, and the unique information you provided to send you a no-obligation offer within 24 hours.

The company isn’t a house-flipper, and they don't buy distressed homes. In fact, they’re fairly particular about what types of homes they buy. Here’s what we learned about their criteria from their website (note that criteria differ based on location):

  • Single-family homes
  • Townhomes
  • Duplexes (certain markets)
  • Condos (certain markets)
  • Homes in age-restricted and gated communities (certain markets)
  • Homes that are site-built (not pre-fabricated or mobile)
  • Homes located in our service areas
  • Homes in which the seller has clear ownership of the property (no double escrow)
  • Homes built after 1960
  • Generally, homes where their valuation is between $100K and $500K (range differs by market)
  • Homes that sit on a maximum of a half an acre of land (in some markets, limit is 1 or 1.5 acres)
  • Homes that are not in or near flood zones
  • Homes that are owner-occupied or vacant, not leased, at the time of closing
  • Homes that don’t have any un-permitted additions or significant foundation issues
  • Homes that have a solar lease that was pre-paid prior at or prior to closing
  • Homes that do not have polybutylene plumbing
  • Homes that do not have Masonite woodruff roofs

2. Accepting the Offer

If, after reviewing your offer and associated fees, you decide to accept, Opendoor will schedule a free home assessment. The company will send out a team of its own employees and independent contractors to “verify the condition of your home and identify any repairs that need to be addressed before closing,” including structural, exterior, roofing, plumbing, electrical, insulation and ventilation, and HVAC systems.

If any repair needs are identified during this step, you’ll have the option to complete them yourself, or the company can handle the work and deduct the costs from your net proceeds at closing.

3. Closing Process

After everything has been finalized with the offer and the assessment, Opendoor tells us that they’re ready to sign your contract when you are.

During this process, you’ll be able to choose your closing date (within 10 and 60 days) and Opendoor will handle the rest. You’ll need to have one final walk-through the day before closing in order to verify everything’s in the same condition, and all your belongings have been moved out.

In the meantime, Opendoor will open an escrow account with a national title company, and you’ll need to sign your closing documents. If necessary, a mobile notary can meet you where it’s most convenient.

From there, you’ll be able to get paid in a matter of days. After moving out, Opendoor handles any repairs and gets the home listed and ready for the buyer.

How Does Opendoor’s App Make the Home Buying Process Different?

If you’re looking to buy instead of sell (or perhaps even both, which we’ll talk more about next), Opendoor owns hundreds of homes for sale in the markets where they operate, including those that have yet to hit the market, which can be browsed 24 hours a day on their website and companion iOS and Android app.

Like the site, the app allows home shoppers to view for-sale homes and filter their search by the number of bedrooms and bathrooms, along with the price. App users can also view photos of the homes, save their favorite properties, and receive instant updates.

Most importantly, the app provides buyers with instant access to any of the company's listings between 6 a.m. and 9 p.m., seven days a week, without requiring an appointment. Basically, it acts as a key to your very own open house.

OpenDoor App ScreenshotsUsing a map-based approach, the Opendoor iOS and Android app allows users to search for residential real estate in different markets, view property details, and remotely schedule in-person visitsю

If you find a home you’re interested in, you can get directions through the app, and even speak with an Opendoor Home Advisor for additional information. Once you’ve decided to move forward, a dedicated team member will “work with you from offer to move-in.”

Opendoor’s Trade-In Offer and Mortgage Services

If you’d like to sell your existing home to Opendoor and also purchase any listing on the market in a single transaction, you can opt for their Trade-In service. Here, they align the closing dates of your sale and purchase, allowing you to move only once and carry only one mortgage at a time.

Trade-Ins customers can finance with one of Opendoor’s preferred lending partners, or work with Opendoor Mortgage, an affiliated mortgage brokerage available in certain markets. According to Opendoor Mortgage, customers can get pre-qualified in less than 30 minutes, and can also save one percent off their closing costs.

To learn more about trading in a home with Opendoor, a representative can be reached at tradein@opendoor.com or (888)856-2243.

How Much Does Opendoor Cost?

Requesting an offer from Opendoor is completely free. Even after your home is assessed, you can walk away without penalty or charge.

According to Opendoor’s pricing comparison page, the average seller will pay a 6.7% fee for the transaction. That said, Opendoor’s service charge could fall anywhere between six and 12 percent, which could cancel out some, or all, of these potential savings.

The company offers a 30-day satisfaction guarantee, which stipulates, “If you don't love your home for any reason, [they’ll] buy it back.”

What Can We Learn From Online Customer Feedback for Opendoor?

On their website, more than 50 Opendoor customers had given the company an average rating of 4.8 stars at the time of our research, with many referencing ease of use, speed, fair pricing, and strong customer support.

We found similar ratings and feedback on sites like Google My Business for their Dallas and Phoenix offices.

More than 120 HighYa readers had given Opendoor an average rating of 3.5 stars, and the company had responded directly to complaints.

Between iTunes and Google Play, we encountered well over 100 reviews for Opendoor’s apps, with an average rating of about four stars. Many seemed to appreciate how it allows instant access to any of the company’ listings, as well as its ease of use.

On the other hand, frequent complaints referenced glitches, along with limited market availability. Again, in many instances, a company representative responded to these in an effort to find a resolution.

The company held an A+ rating with the Better Business Bureau, based on more than 125 customer reviews and two closed complaints at the time of publishing.

Our Final Thoughts About Opendoor

It’s clear that Opendoor has a lot to offer customers, including unique buying and selling services, a mobile app that provides customers with personal open houses, lending partnerships and financing options, competitive pricing, and a 30-day buy-back guarantee on every home they sell.

If you’re on the fence about using their services, obtaining an offer online and/or downloading the Opendoor app are both completely free. So, whether you’re thinking about selling your home or purchasing a new one, you might not have more to lose than a few minutes of your time for giving them a try.

Just keep in mind that Opendoor’s services are currently only available in 20 metropolitan regions. And, even if you live in one of these areas, remember the company has some fairly stringent eligibility criteria, so not every home will qualify.

Sign Up for HighYa Newsletter

Sign up for HighYa newsletter and get our best content delivered in your inbox as well as 3 free eBooks to help you save money and shop smarter. Enter your email below to get started!


Read 134 Opendoor Customer Reviews and Complaints

Write a Review
Average Consumer Rating: 3.2
Rating Snapshot:
5 star: 65 4 star: 7 3 star: 2 2 star: 11 1 star:  49
Bottom Line: 54% would recommend it to a friend
Showing 1-11 of 134
Sort reviews by:

  • The sale of my home

    • Denver, CO,
    • May 17, 2019
    • Verified Reviewer

    My wife and I were a bit nervous about selling the home. We considered using a realtor but we felt the convenience of using Opendoor was the best for our experience. No home showings and the predictability of the closing date made it so much easier for us. In this technology-driven age, I would definitely use them again.

    Bottom Line: Yes, I would recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no

  • Awesome, thank you Opendoor!

    • San Tan Valley, AZ,
    • May 17, 2019
    • Verified Reviewer

    I am so glad I went with Opendoor, they are the real deal! Sold my home effortlessly in a month and got more for it then a reputable real estate company wanted to list it for. After all said and done I got $12000.00 more for my home then if I would have gone with the local real estate company in my neighborhood. Thank you so much, Opendoor, you guys are the best!

    Bottom Line: Yes, I would recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no

  • Highly recommend!

    • New Port Richey, FL,
    • May 16, 2019
    • Verified Reviewer

    This is the company we sold our home to before buying our new home! It was the best experience we've ever had selling a home. Hassle-free smooth sailing. If you're looking to sell your home and you're not in the mood to having your home shown to potential buyers, Opendoor is the way to go!

    The only issue I had was that the title company 2 days before closing told me upon lean searching they found my home had an expired AC license. However, after phone calls made I found out it wasn't true. There was never any expired license. Also, they charge you for doing the title search and other fees I was never made aware about until the day of closing, which is why I have a 4-star review. Otherwise, I had a great experience.

    Bottom Line: Yes, I would recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no

  • Really impressed!

    • Aurora, CO,
    • May 15, 2019
    • Verified Reviewer

    I'm a little confused by some other reviews about high fees, but maybe it's different in different markets - I actually just completed the sale of my condo to Opendoor and the fees I paid were only 5% (not including closing costs and repairs, which were both minimal). So both the fees and the offer itself were extremely competitive with a traditional sale. I might have made slightly more going the traditional route, but being able to close basically whenever I wanted, not having to do any showings (honestly the best stress reliever of the whole process), and having the option of taking a few extra days to move with their "late checkout" rent back option made it WELL WORTH IT.

    They were extremely reasonable about repairs. As long as things were safe, functional, and not in horrible shape, they weren't worried about it. Unlike some other similar programs I looked into, Opendoor also gives you the option to either have repairs done yourself or leave it for them if they do flag anything. Because one of the repairs was just a mistake by an electrician who had recently done work, this turned out to be an important consideration since we were able to have him return at no cost to fix it rather than having to automatically pay a fee to Opendoor to do it.

    They also do a really great job holding your hand through the whole process to make everything fast and easy. They even had a notary come to me to sign everything prior to closing, and the funds came through very quickly during crunch time when we were trying to close on our new home the same day.

    Bottom Line: Yes, I would recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no

  • Fantastic experience

    • North Carolina,
    • May 15, 2019
    • Verified Reviewer

    The last time I sold a house, it was a disaster - we spent thousands on pre-emptive repairs, then 3 deals fell through before an epically delayed closing with the 3rd buyer, crazy demands for repairs - horrible, stressful, expensive, awful.

    This time, I knew that I wanted things to be different. Enter Opendoor. I reached out, they made a reasonable offer, asked for repairs that any buyer would have, and worked with my schedule. When I was supposed to close on Monday and Sunday night at 5, the movers still hadn't shown up, Lisa worked with me to reschedule walk through and closing and didn't bat an eyelash returning my tearful voicemail after hours on a Sunday to assure me that we'd get it done. On final walkthrough, the cleaners were still there and they just asked that I send pictures of the empty house. I am so glad that I worked with Opendoor this time!

    Bottom Line: Yes, I would recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no

  • Super frustrated with Opendoor

    • Georgia,
    • May 13, 2019
    • Verified Reviewer

    I have spent hours dealing with Opendoor just trying to find out if a home is even available. Now I've written an offer and can't even send it to their email address. Maybe I will hear back from them to find a way to submit my buyer's offer.

    Bottom Line: No, I would not recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no

  • Opendoor experience

    • Phoenix, AZ,
    • May 11, 2019
    • Verified Reviewer

    From start to finish, this is a company on the cutting edge of a business model that should transform the way we buy and sell homes. Our process was smooth and simple with no surprises. We were constantly updated and never in the dark. Offer was fair, repairs were fair and from the date of inspection to the day we had our money wired to our account was 2 weeks. A solid 10! Thank you!

    Bottom Line: Yes, I would recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no

  • Hassle free experience

    • Katy, TX,
    • May 10, 2019
    • Verified Reviewer

    I sold my home to Opendoor and they executed everything perfectly and on time. Very reliable, fast and excellent service from them. I highly recommend Opendoor to any sellers who look out for selling their home.

    Bottom Line: Yes, I would recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no

  • Very pleased with the sale of my house.

    • Colorado,
    • May 6, 2019
    • Verified Reviewer

    I was very apprehensive about contacting Opendoor. I figure they'd give me a lowball estimate on my house as well as nit pick every little repair. I was wrong on both counts. The quote they gave me was very competitive. Their commission was a little high, but I was alright with that. I don't have to deal with a real estate agent, show the house, or handle any of the repairs.

    The quote for the repairs on the house were a few thousand less than what i was expecting. The assessment and closing were done at my convenience and they came to me!

    All in all, I would use them again. The whole process was quick and done professionally.

    Bottom Line: Yes, I would recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no

  • The real deal

    • North Carolina,
    • May 2, 2019
    • Verified Reviewer

    I have nothing but good things to say about Opendoor and the process of selling my house from beginning to end. I received a very competitive offer from Opendoor for a house that was my primary residence in Atlanta, Georgia but became a rental property. Communication with Opendoor was never delayed. Calls and emails were promptly returned. Specifically, to Alex C., Jessica P., and Adrianne W. in the Atlanta office, and Michael M. And Adam E. at O'kelley and Sorohan, Attorneys at Law. These rock stars did not miss a beat. My closing was out of state. The mobile notary met me at work in North Carolina around 4:30 pm Monday to sign closing documentation. I am writing this review on a Wednesday night and my disbursement has already been wired to my checking account. The efficiency and ease of selling through Opendoor is unnerving. But, trust and believe, it is the real deal.

    Bottom Line: Yes, I would recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no

  • 3 out 3 people found this review helpful

    Really under priced offer compared to market data, extremely high fees.

    • Nevada,
    • Apr 30, 2019
    • Verified Reviewer

    After all of the positive stuff I've heard/read, I was extremely disappointed in the offer. $20,000 - $30,000 less than expected (well under $50,000 less than recent comp sales), and very high fees - approximately 8.5% in fees plus the 3% buyer broker commission offered in the MLS because my home is currently listed. So, that brings their fees to 11.5%.

    Bottom Line: No, I would not recommend this to a friend

    Help others find the most helpful reviews

    Was this review helpful?

    yes no

Showing 1-11 of 134

Write a Review for Opendoor!

Share your experience to help others shop smarter & discover great products.

Write a Review