About Opendoor

By Derek Lakin
HighYa Staff Updated on: Jan 4, 2018

With more than 11,000 satisfied customers, Opendoor helps you sell your home in a matter of days without ever 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 process takes 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?

1. Requesting an Offer

To request an offer on your home, you’ll start by entering your address on Opendoor’s home page. Note: The company currently buys (and sells) homes in the Phoenix, AZ, Dallas-Fort Worth, TX, Las Vegas, NV, Atlanta, GA, Raleigh-Durham, NC, and Orlando, FL metropolitan areas, although they’re looking to expand into additional markets.

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.

Pro tip: 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 (Phoenix, Las Vegas, and Atlanta)
  • Condos (Phoenix and Las Vegas)
  • Homes in gated communities (Phoenix, Las Vegas, and Dallas–Fort Worth)
  • 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
  • Homes that are not in age-restricted communities
  • Homes where our valuation is between $100K and $500K
  • Homes that sit on a maximum of a half an acre of land (Phoenix, Las Vegas, and Orlando) or an acre of land (Dallas-Fort Worth, Atlanta and Raleigh-Durham)
  • 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 are non-distressed or Real Estate Owned
  • Homes that don’t have any un-permitted additions or significant foundation issues
  • Homes that don’t have a solar lease (even one that has been pre-paid)
  • 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 offer.

3. Moving on With Your Life

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 move-out date (within three 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 will handle any maintenance requirements while getting the home listed and ready for the next 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 viewed 24/7 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 am and 9 pm, 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.”

Buying and Selling at Once: 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. 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 contact@opendoor.com or 480-381-6622.

How Much Does Opendoor Cost?

Requesting an offer from Opendoor is completely free. And until your home is assessed and both you and the company have decided to move forward, 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, 50 Opendoor customers had given the company an average rating of 4.6 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 Zillow, as well as Google My Business for their Dallas and Phoenix offices. Since writing our original article, 11 HighYa readers had given Opendoor an average rating of 2.5 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.

From a company perspective, Opendoor is based out of San Francisco, CA and was co-founded in 2014 by Keith Rabois, CEO Eric Wu, JD Ross, and Ian Wong.

Previously, Keith worked as a senior executive at PayPal and Slide and COO of Square, Eric was founder and CEO of Movity.com, JD was VP of Product at Addepar, and Ian built machine learning applications at Square and Prismatic.

The company held an A+ rating with the Better Business Bureau, based on eight customer reviews and two closed complaints, as of 12/27/17.

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. In fact, there isn’t another service exactly like this in operation.

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 six metropolitan regions (Phoenix, Dallas-Fort Worth, Las Vegas, Atlanta, Orlando, and Raleigh-Durham). 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.

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110 Consumer Reviews for Opendoor

Average Consumer Rating: 2.9
Rating Snapshot:
5 star: 46 4 star: 5 3 star: 2 2 star: 10 1 star:  47
Bottom Line: 47% would recommend it to a friend
Showing 1-11 of 110
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  • Low ball

    • Fountain Hills, AZ,
    • Mar 11, 2019
    • Verified Reviewer

    Opendoor will low ball you. I would stay away from them.

    I tried Opendoor and it may be an alternative for desperate sellers who want to unload a house quick. From what I can see, they will apply a quick paint job and try and flip the house quickly at your loss.

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

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  • 8 out 8 people found this review helpful

    Be aware of so called repairs! Scandalous to say the least! Even with proof you won’t save money!

    • Las Vegas, NV,
    • Mar 6, 2019
    • Verified Reviewer

    Be aware of Opendoor's scandalous procedures! Especially when it comes to any so-called "needed repairs." They gave us a whole lot less than what the house was worth to begin with, but the thing I’d like everybody to know is this...they send people out to look at your house first to check for any repairs that need be done prior to close. This is how they really screw you over! I’m mentioning this as the pool contractor guy they sent out to look at our pool, he actually broke our pool heater himself accidentally, then snuck away without saying a word. Which ended up frying out the system and we could no longer run our filters or use our pool due to his mistake. And what Opendoor did, was that they then actually went and charged us $5340 for his mistake to get this repaired. I have all the pictures, receipts and documents to show how all was perfectly just fine prior to them coming to our home. Nothing at all was wrong with our pool. I had just had it all completely redone. But because of their pool guys mistake resulting in him breaking the pool heater, they turned around and charged us when we had nothing to do with that. So I had to pay over $5,000 on pool issue alone.

    I only ended up using Opendoor as I already was in the middle of closing on another house in Florida already and I couldn’t bail out because I was already too far into the game at that point in time. They say they will look into issues to try to resolve them, but trust me...THEY WON'T! They take advantage of the fact knowing that on a move, people have so much going on, that we just don’t have the opportunity to pursue issues that are not being fairly dealt with.

    Not only was this one repair issue charged, but they charged us for repairs that we went ahead and fixed ourselves, as they told us if we did so we would not be charged for them. That was all lies! I have receipts and pictures all to prove I had taken care of these things, such as painting the inside of medicine cabinets, that they in turn did nothing to them (for I repainted them myself already), yet they still charged me $90 for that one example alone too. So they will charge you even if you do your own repairs, although they will tell you differently to begin with. Then they charged me $400 to completely trash out the house when in reality it had indeed been trashed out completely. I had paid to have this done and have pictures to prove so, but in the end, they still charged me $400! DO NOT TRUST THEM!

    I would also like to note that I had accidentally left behind my makeup bag with my expensive perfumes, makeup, and facial cleansers, etc. under the bathroom sink and called them the following day after we closed to ask if they would kindly leave that with the neighbor, but they refused to do that one simple thing for me and it was a small makeup bag (worth about $200 belongings inside) not weighing more than a pound. I had already left Las Vegas to drive to Florida so I could not turn around, but they would not do a simple thing as drop it off next door for my neighbor to ship to me. It was a small pouch that’s meaningless to them but not to me, but they DO NOT CARE! So I lost a good $200 in items there too.

    So, in the end, I lost out on a good $20,000 - $40,000 on the house alone, plus another $7,500+ for false claims of repairs they said they had to do (which in reality I had fixed on my own already so they had nothing to do). So everyone be aware that even if you do your own repairs they will NOT take that into account and they WILL still charge you for them even if they do absolutely nothing after you’ve done all the work yourself. I needed the money to buy my new home so I went with it, but you do need to be aware that they WILL rip you off as much as they can.

    Be aware of their so-called contractors they send to your home. If they break something, Opendoor will not accept responsibility on behalf of those people they send out to your home and in the end, you will have to pay for things that these people break. They will send out about 5 different people so you can’t watch all 5 at the same time. They are sneaky and very corruptive! Opendoor is only good if you have no other choice so be prepared to lose out at least $40,000 in the process of doing so. I regret trusting them. Don’t bother doing any repairs for you will end up paying no matter what! They should not be able to do this to people as it just is not right!

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

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    • Mar 15, 2019

      Tirza D., Community Manager

      Hi Angie,

      We apologize for what sounds like a frustrating experience. Can you send an email to community@opendoor.com with the address of the property so our team can take a look at this? This seems like a very unusual experience so we would like to escalate this with our internal teams.

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  • 5 out 5 people found this review helpful

    Smooth talkers looking to rob you

    • Texas,
    • Mar 5, 2019
    • Verified Reviewer

    I heard good things about Opendoor. Now I realize they must be fake or paid reviews. We decided to sell my house to them. They came in smooth talking about how fair and easy going they are and how they are looking to make a good impression in Texas.

    As it turns out they are just luring you in. We were hit with 10s of thousands in repair costs - one of which includes replacement of my entire HVAC system which is less than 8 years old and works just fine.

    The final straw was their refusal to honor the original closing date and rejecting my survey 2 days before closing. They wanted a new survey and pushed out closing 7+ days, costing me thousands more. Their "agent" was extremely rude, to the point refusing to communicate, when we were actually able to get them to talk to us at all. We terminated the contract.

    Do not use these folks, they are looking to take advantage of people.

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

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    • Mar 7, 2019

      Tirza D., Community Manager

      Hi Sean,

      We apologize for what sounds like a frustrating experience. We rely on feedback like yours to continue to optimize the experience for both buyers and sellers. Please feel free to email community@opendoor.com with any additional insights you would like to share.

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  • 3 out 3 people found this review helpful

    Extremely low offers

    • Rancho Cucamonga, CA,
    • Mar 5, 2019
    • Verified Reviewer

    Only sellers who are desperate will use this company. Just for fun, I had Opendoor give me an "offer" on my home. They said it would be "under $600,000." After I stopped laughing, I listed my home with a conventional real estate company. One month later I sold my home for $750,000. Obviously Opendoor is going to give very low offers hoping to attract the desperate seller. They say their offers are "competitive." Absolutely BS. DO NOT sell to these people if you want to maximize your profits.

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

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  • 6 out 6 people found this review helpful

    Close your door to Opendoor

    • Georgia,
    • Feb 25, 2019
    • Verified Reviewer

    Do not attempt to sell your homes to them unless a foreclosure is imminent. Extremely low ball offers. After reading a bunch of positive reviews that were very generic, I can see that Opendoor is putting up fake reviews to promote themselves.

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

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  • 11 out 12 people found this review helpful

    They low ball you on the offer to buy your house

    • Las Vegas, NV,
    • Feb 14, 2019
    • Verified Reviewer

    I contacted Opendoor online to sell my house in Vegas. I live in California so I talked to them like 10 times before I wasted time flying to Vegas. So a few other investors came to my house the same day before Opendoor and did their inspections. My tenant had forgotten to leave me the key to open garage so I told these other investors to do their inspection and they I could email them pics of the garage later that day (or they could come back tomorrow to look at the garage), and all these other investors said no problem.

    But then Opendoor showed up and was rude and told me "you knew the rules before you flew to Vegas, and if you can't open garage then we are leaving now." I asked the guy why don't you inspect the entire house now since I'm here and come back tomorrow to look at the garage or I'll email you pics (common sense). But no, the guy from Opendoor told me he called his boss and his boss said "no we won't accommodate you and basically too bad." So, sure enough, they left after I basically begged them to stay and do the inspection minus garage. I told them that selling a house is a big deal and that I'm not just a number, I'm a person and they need to treat their customers better. They didn't care about me in any way, they just want to buy a house below market value and sell it for a profit.

    I would never use them again. Selling a home isn't easy, and any real buyer would be willing to inspect the garage another day. Anybody who has bought or sold a house knows how stressful and complex it can be, and sometimes you need to be flexible to get a deal done. Opendoor had zero flexibility.

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

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    • Mar 18, 2019

      Tirza D., Community Manager

      Hi Pat,

      We do apologize for this frustrating experience. We escalated this issue with our internal and executive teams. Our teams are spending some time reviewing your experience and the feedback you shared to ensure we do not provide any future customers with this type of experience. Please feel free to share any additional insights with community@opendoor.com.

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  • 14 out 14 people found this review helpful

    Do not buy a house from Opendoor!

    • Texas,
    • Jan 27, 2019
    • Verified Reviewer

    I was interested in a house in Savannah, Texas. I did a home inspection and the man told me that I should get a roof inspection. I researched for a 5-star roofing company to inspect it and found out there was severe hail damage. When we did an addendum for Opendoor to get an inspection done on the roof and fix as needed, they came back saying the roof was in great shape and their pictures from the inspection were all from a side point of view. When my realtor showed them ours with VERY detailed pictures they were in shock.

    They came back three days later saying they were going to do another roof inspection. My realtor said we would too. I pick ANOTHER 5-star rating roofing company and he said it's a no-brainer that the roof was damaged. Opendoor came back saying only $500 needs to be repaired. When my realtor said, "are you kidding me?" They came back and said, "Did we say $500, we meant $100."

    My insurance and mortgage lender wrote a lengthy letter to them that they will not allow me to purchase the home. My father even told them to drop $10,000 so we can personally fix the roof. Opendoor said no. They are a used car salesperson trying to sell you a broken car. They are shady company. OH! I found a coworker that purchased a home and found out that Opendoor replaced the carpet but no the padding.

    Opendoor cuts corners and steals from you. BEWARE!

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

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  • 23 out 24 people found this review helpful

    Horrible experience

    • Temecula, CA,
    • Jan 21, 2019
    • Verified Reviewer

    I was very happy to go into contract with Opendoor based on the reviews and advertising, however, I was severely blindsided by the assessment. The team of 10 descended on my home as if they had already owned the property. The roofer "expert" removed tiles from my roof and took pictures and did not replace the tiles removed. So, I had to call my homeowners insurance and file a claim. We had several days of rain. They were in my home for over three hours and moved and processed it as if it was a crime scene. Then on top of the 26 thousand upfront fee, they tried to charge me 21 thousand dollars for "repairs." They refused to negotiate anything, and now I have to pay for an attorney for the "assessment" process. They are criminals. Please save yourself and go with a realtor and reputable company. They're not reputable or honest.

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

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    • Jan 22, 2019

      Tirza D., Community Manager

      Hi Nancy,

      We apologize for what sounds like a frustrating experience. Would you be able to send an email to community@opendoor.com with more information so we can take a look at what happened here? Thank you!

    • Jan 23, 2019

      Nancy C.

      Talk to your employees and inspection team. Cliff Tubbs was the representative that I spoke with.

    • Jan 29, 2019

      Tirza D., Community Manager

      Hi Nancy,

      We've been able to connect with the team that completed the assessment. Our assessments are intended to be thorough but we do apologize if at any point you felt that our team was working outside of what made you feel comfortable. Please know that your feedback was circulated internally and prioritized as we continue to optimize the experience for buyers and sellers.

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  • 2 out 9 people found this review helpful

    Sold through Opendoor, then bought also!

    • Matthews, NC,
    • Jan 19, 2019
    • Verified Reviewer

    When I first heard about Opendoor, I was super skeptical - could we really sell for a fair price without the hassle of showing? The answer was, and is, YES! Opendoor gave us a very fair price for our home (Tampa area) and scheduled an inspection very quickly. They were not too picky (our house was fairly new so there were few necessary repairs) and ended up asking for very little off the initial offer for inspection repairs. Here is a necessary notation - Opendoor has to anticipate future buyer's hesitations when negotiating the inspection repair cost. A lot of reviews complain that Opendoor performs the inspection and requests money off of the offer price to repair certain things, yet those repairs are never performed. This is the company being smart and assuming that future buyers will request money off their sale price during THEIR (the future buyers while Opendoor sells) inspection.

    While the representatives were present performing our inspection on our house in Tampa, they mentioned that there were homes for sale via Opendoor in the Charlotte area (where we were moving). We did some research and ended up falling in love with a home being sold by them as well. They had repainted the entire home and also installed brand new, upgraded carpet throughout the upstairs and basement. We were able to coordinate our move-out/move-in dates, and everything could not have gone smoother! This is the future of real estate.

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

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    • Feb 7, 2019

      Brian J.

      Sounds like an Opendoor employee wrote this. Nothing like my experiences with Opendoor.

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  • 17 out 17 people found this review helpful

    Pretty floors, shady electrical and plumbing

    • Nevada,
    • Jan 17, 2019
    • Verified Reviewer

    We bought a house in Las Vegas from Opendoor. They did not properly fix everything on the request to repair. When we moved in, we found out that there was a leak under the kitchen sink, none of the outlets in any of our three bathrooms worked and the washing machine valves BOTH leaked. Opendoor makes the house look pretty but falls EXTREMELY SHORT on anything else that really matters to make the house "function-able." If you can avoid buying from Opendoor, I suggest doing so, or have an experienced and licensed electrician and plumber come in to examine the house before you buy it.

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

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  • 28 out 28 people found this review helpful

    Complete waste of time! Fraudulent inspections!

    • Las Vegas, NV,
    • Dec 31, 2018
    • Verified Reviewer

    I scheduled a number of home inspections but was told that I would not need to be home during this process. Then, I learned that this requirement does not apply to my state. The inspectors spent less than two minutes on my roof, five minutes in my garage and two hours inside a condo that is less than 1,000 square feet. The lead inspector claimed he could not complete the inspection because of boxes blocking him, but he never mentioned it to me, and I was right there and eager to help! I was never informed of this problem until it was time for him to leave. He spent more time smoking on my patio and on his phone than in my place. I was told that a reinspection would need to be scheduled and that all contents would need to be removed, and that their original offer would be reduced by $10,000. In the meantime, I received two more offers by their competition, with moving assistance and additional perks. We are closing on a lovely OfferPad home today! The OfferPad staff was so kind, professional, and willing to negotiate a fair price without the lies, drama of Opendoor. Max, Mallory, and Sam from Opendoor - you are liars and crooks! God have mercy on you all!

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

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    • Jan 3, 2019

      Tirza D., Community Manager

      Hi Didi,

      We are sorry for what sounds like a frustrating experience. Our team would like to take a look at what happened and make sure all issues are escalated and addressed by the proper teams. Please email community@opendoor.com with the address of the property and any additional feedback you would like to share.

    • Feb 6, 2019

      Pat V.

      This is not surprising. They were gonna look at buying my home in Vegas, but they were completely disorganized and didn't care about the homeowner at all. They just want to lowball sellers on a price and sell the house for as much profit as possible. I would never recommend them to anybody. Selling a house is a big deal and emotional, they make it out to be like you are just selling a car or a pair of tennis shoes.

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