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.

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Read 200 Opendoor Customer Reviews and Complaints

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Average Consumer Rating: 3.7
Rating Snapshot:
5 star: 125 4 star: 11 3 star: 2 2 star: 11 1 star:  51
Bottom Line: 69% would recommend it to a friend
Showing 1-11 of 200
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  • Opendoor was a Godsend!

    • Austin, TX,
    • Sep 12, 2019
    • Verified Reviewer

    I was very nervous about selling my home of thirteen years but Opendoor has perfected a smooth process.

    Everything went as Opendoor promised starting with a fair market value offer. The repair estimates were also fair and not overblown.

    When I had a question or issue I always received a quick response. The title company was also very responsive and helpful to me with an issue in my heirship papers.

    All in all, I would definitely recommend Opendoor to anyone wanting to sell their home quickly or not wanting the pressure of staging their home for sale.

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

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    • Sep 14, 2019

      Company Response from Opendoor

      That's wonderful feedback to hear, Dawn! We always strive to provide a great customer experience with Opendoor and your feedback is incredibly valuable to us. Thanks for taking the time to share!


  • Impressed professional couple

    • Florida,
    • Sep 12, 2019
    • Verified Reviewer

    We were delightfully surprised and impressed with how efficient this process went. As with most transactions, there were some negotiations, but in the end, we came to an agreement and the transaction was flawless and expeditious. We would recommend Opendoor too many of our friends who will be putting their houses on the market.

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

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    • Sep 14, 2019

      Company Response from Opendoor

      So glad to hear this Kenneth. Thanks for letting us know! We're so glad you were able to benefit from the ease and certainty the Opendoor experience provides!


  • Home sale

    • San Antonio, TX,
    • Sep 9, 2019
    • Verified Reviewer

    Opendoor was such a pleasure to work with. They made selling our home as simple a process as possible. From the moment we requested an offer to needing late checkout. They were flexible, knowledgeable and happy to help. They gave us a great offer on our home and made the closing process so easy. Opendoor will be who we choose for any future moves.

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

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    • Sep 11, 2019

      Company Response from Opendoor

      Crystal, This is great to hear! Thank you for supporting what we do and happy to hear you've had a great experience with us.


  • What a pleasure to work with Opendoor

    This was a very pleasurable experience to work with Opendoor on the sale of our home. Everyone was very professional! I would definitely use them again in the future.

    No-hassle, quick, and stress-free.

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

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    • Sep 11, 2019

      Company Response from Opendoor

      Thank you for sharing this review, Shirley and Robert! We're glad to hear your experience with us was a good one!


  • Wonderful experience

    • San Antonio, TX,
    • Sep 9, 2019
    • Verified Reviewer

    From start to finish we had nothing but wonderful customer service from everyone that was involved in our process. There was no stress for myself or family. Smooth transaction from start to closing. This is not my first home sale, but a first using Opendoor, would be happy to use them again without hesitation. We closed in 24 days. Thank you all.

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

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    • Sep 11, 2019

      Company Response from Opendoor

      So glad to hear this Janet. Thanks for letting us know! We're so glad you were able to benefit from the ease and certainty the Opendoor experience provides!


  • Fast and fair

    • Clearwater, FL,
    • Sep 4, 2019
    • Verified Reviewer

    I wanted to sell my house fast due to divorce and wanted the process to be as low stress as possible. It was about a month from first contact to close. They stuck to the necessary timeline I picked exactly. Everything was coordinated seamlessly. They gave a better offer than OfferPad. Liz and Milo were great and answered all my questions. I received credit for the repairs I completed after the initial assessment. The offer was about $10,000 below the Zillow estimate but still $22,000 more than I bought it for 2 years ago. After everything, I was able to pay off the mortgage and got about $10,000 cash in my account. I would recommend them to anyone who needs a house sold fast and doesn't mind getting a little under market value. The process was chaotic but I think that's just selling a house in the middle of a divorce and finding somewhere to rent. I would hire them again if needed.

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

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    • Sep 7, 2019

      Company Response from Opendoor

      Lauren, thanks for the positive feedback and it is great to hear you've had a positive experience with Opendoor! Thank you for choosing Opendoor for such an important transaction.


  • Opendoor was just what I needed!

    • Buda, TX,
    • Sep 3, 2019
    • Verified Reviewer

    I wanted to sell my home but did not want to go through the hassle of showing it on a moment's notice. I received a flyer in the mail from Opendoor and called them. There was no pressure at all.

    I later went online and requested an offer. I was pleasantly surprised at how competitive it was. After discussing it with the representative named on the offer, I decided to proceed.

    From that point, the process was seamless and very low stress. I interacted with a half dozen representatives as my sale moved through the stages. They were all very friendly and professional and answered questions to my satisfaction. What impressed me is that they all answer their phone or call back very quickly. Emails were answered very promptly as well.

    The online process of setting your inspection date and closing date is very easy to use and keeps you up to date at all times.

    I rate my experience selling my home to Opendoor a 10 plus! I honestly don't think it could have gone any better.

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

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    • Sep 7, 2019

      Company Response from Opendoor

      We're delighted to hear you've had a good experience with Opendoor, Cheryll. We appreciate you spreading the word about Opendoor! :)


  • 1 out 1 people found this review helpful

    Legitimate process

    • McDonough, GA,
    • Aug 23, 2019
    • Verified Reviewer

    Initially, I was very skeptical about selling my house online. Surprisingly the process was very simple and allowed me to have control. With the housing market value increasing it felt like a good time to sell my home. I'm glad I used to Opendoor.

    The offer for my home allowed me to pay off the existing mortgage and still come out with money in my pocket. I was dinged on providing incorrect information during my initial assessment, so make sure you are as clear as possible. My mistake cost me a $2,000 offer adjustment because I stated I had a certain type of countertops when it was really Formica. Personally, I think they had some preset options that were not giving me the option I needed. The other "repairs" was replacing the carpet and repainting the whole house.

    But overall if you own a property especially if you're out of state, Opendoor is one of the easiest ways to sell your property without the hassles of being physically there.

    Thank you to Jessica P. Kelsey W, and Grace K. who kept me informed the whole time.

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

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    • Sep 7, 2019

      Company Response from Opendoor

      Derrick, thanks for the positive feedback and we appreciate you spreading the word about Opendoor!


  • 0 out 1 people found this review helpful

    Good option

    • Torrance, CA,
    • Aug 23, 2019
    • Verified Reviewer

    I wanted to sell the house my dad was living in after he passed away. I didn't want to take long because of the mortgage I was paying. The only hesitation I had was the fee charged by Opendoor but it's true that removing the anxiety and possible time spent on the market equaled the extra fee, in my mind. Everything else about the transaction was fair and smooth. All the people I talked with were friendly and helpful. Not having to make repairs or hire someone to throw out the garbage was very nice. I would consider using them again if I need to sell a house in a hurry.

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

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    • Sep 7, 2019

      Company Response from Opendoor

      Jeff, great to hear you've had a positive experience with Opendoor! Thank you for choosing Opendoor for such an important transaction.


  • 1 out 1 people found this review helpful

    As advertised

    • Surprise, AZ,
    • Aug 22, 2019
    • Verified Reviewer

    From start to finish, the process is as described on the website. Had to move the close date, which was not a big deal. No big surprises during the assessment appointment. I had my concerns as one of their competitors came in with an offer considerably less than Opendoor. I thought perhaps at the assessment they would come back with some ridiculous amount. All items were valid items and the cost was in line with paying someone to have it done. I took care of one of the items myself, took a picture and that amount was credited back at closing. By going with a traditional agent I may have been able to get more for my home, however, that's not a guarantee. And with getting a new home built, it worked out perfectly to where we didn't have to do 2 moves. All in all very pleased with Opendoor.

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

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    • Sep 7, 2019

      Company Response from Opendoor

      That's amazing to hear! We strive to provide a great customer experience with Opendoor and your feedback is incredibly valuable to us. Thanks for taking the time to share this, Derrick.


  • 1 out 1 people found this review helpful

    Opendoor was a simple process and everyone was so helpful.

    • Las Vegas, NV,
    • Aug 21, 2019
    • Verified Reviewer

    Opendoor was a great company to work with and the only way to sell your house. I loved this process because you didn't have to show your house and have people walking through your house every day. The process is simple and easy. I was informed through the entire process. Everyone I dealt with was very helpful and a pleasure to deal with. I received immediate responses and had all my questions answered and explained thoroughly. I highly recommend Opendoor to sell your house.

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

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    • Sep 7, 2019

      Company Response from Opendoor

      Sally, great to hear you've had a positive experience with Opendoor! Thank you for choosing Opendoor for such an important transaction.


Showing 1-11 of 200

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