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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17 Consumer Reviews for Opendoor

Average Consumer Rating: 2.9
Rating Snapshot:
5 star: 6 4 star: 2 3 star: 0 2 star: 2 1 star:  7
Bottom Line: 47% would recommend it to a friend
Showing 1-11 of 17
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  • Wonderful experience

    After investigating many companies, Opendoor provided us with the best offer for our home, with no huge extra fees. Some companies charged an additional $1,300 for the privilege of using their service. All personnel at Opendoor were most professional providing constant communications during the process. The electronic paperwork was efficient and simple. Opendoor is the way to go when selling a house.

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

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    • Jan 19, 2018

      Mavis Huang, Community Manager

      Hi Howard and Alice,

      Thank you for sharing your Opendoor experience! We're so happy to hear that you enjoyed our fair offer and the hassle-free experience. We wish you the best in this next chapter of your life.

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  • 1 out 1 people found this review helpful

    Cheap company

    • Phoenix, AZ,
    • Jan 18, 2018
    • Verified Reviewer

    I am signing for my home tomorrow. They will scam you to the very end about things they will fix in a home, they make deals about fixing the home with only things they don't have to put any money into.

    1. They said they would match and replace a floor. Their solution was to move it from other areas that now do not have a floor.

    2. They said they would fix a cartridge in a shower. They turned up the water heater to leave sinks boiling. This they did the day before closing to try to make me feel like I did not have a choice. They would not even change a light bulb they signed to fix.

    Message to agents stays clear with your buyers. My agent paid for the repairs to get me into the house and now has to bill Opendoor.

    Buyers, plan to fix everything after the inspection, hire your own inspector, not one from Opendoor. This part will hurt you dearly.

    You will pay for everything extra, and they will try to scam you into paying for things they are supposed to cover.

    It has been a nightmare dealing with this company. If I knew what I was getting into I would never have tried to work with them. It has been such a headache.

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

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    • Jan 18, 2018

      Mavis Huang, Community Manager

      Hi S. Susser,

      Thank you for the feedback. We’re committed to delivering a sound home in good repair, and we’re sorry to hear that you're having a frustrating experience. Would you be able to email us at community@opendoor.com with a little more information, so that we can properly address the issue?

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  • 3 out 3 people found this review helpful

    Worst experience of my life

    • Goodyear, AZ,
    • Jan 15, 2018
    • Verified Reviewer

    Where do I begin? I got an offer on my house. The offer was great compared to the the other offer they gave me a year prior. This time it was actually market value. There was the 6% Opendoor "fee" off of that price. No biggie because I would be paying a total of 6% to realtors anyways.

    They came to do the inspection and did it with a fine tooth comb. ANY TINY THING they wrote down and the repair estimates were insane! They wanted $4000 credit for all that. I told them I would fix them. They wanted proof via pictures and receipts. Ok, fine. I do half of the stuff, and after sending the pictures, nobody ever sent a new addendum reflecting that the credit I had to pay them was lessened.

    THREE DAYS BEFORE CLOSING I contacted them over and over and over because, without this addendum and confirmation, I wasn't going to rent an apartment, U-Haul, lose of on first last month's rent, etc. The day of closing, still no word! Can you imagine if I would have moved out? They wouldn't even return my calls on the close date! I had to call Title and cancel because of no communication by Opendoor.

    As soon as I canceled with Title, Opendoor called me. They said my case manager Guy had been on vacation that's why he never got my pictures of my repairs. That was complete B.S. because the first like 4 times I sent him all of the pictures, he kept asking me to send them again instead of just looking back through his email and finding them, so each time I had to send them over and over and over thinking that this guy was never going to even look at them. Also, who goes on vacation when a house they are covering is about to close?

    The date of closing after I called Escrow to cancel I was asked again to send the pictures! Finally about two weeks later we were ready to close again. Because Opendoor took so long on their end, we had to extend the close date, and Opendoor said we had to have a new inspection! So after all of that time because they took so long to actually look at the pictures and make a new addendum for the credit they wanted, now I have to have a new inspection. So what? Is everything going to happen again and all these credits are going to happen again? We were absolutely furious. We fought so hard to get that credit back and now they're saying that we have to have another inspection because it took too long to close? I feel that they did this to punish us for not giving them all the credit.

    We had a new inspection with an old guy who wrote down even more stuff than the first time and who actually damaged my house and created a leak in the backyard. I had two faucets outside, one which I never used since being in the house because it was right next to the AC unit. Well, he turned that on and apparently when he tried to turn it off, it was leaking, so instead of being a great guy and letting us know, he just left it and we didn't even discover it until days later, and at that point it had gone underneath the AC unit and flooded a little portion of the yard.

    It was only several days before closing again, and we were still waiting to hear about the inspection results of the second inspection it was getting down to the wire, and we were nervous to find a new place because for all we knew Opendoor was not going to pull through again. All of it started to sound like a sham for more credit, and finally, I wrote to him and told him that I thought it was a sham for more credit. After stating that, finally everything came through and they did not ask for more credit. Thank God.

    Three days before close the Title company they chose tells me that they do not have my payoff statement. While I'm supposed to be packing and boxing up things in a rush, and I had to get the U-Haul at 10 that morning, I'm getting calls from Title saying they don't have my payoff statement!? This is something they were supposed to get an order from my mortgage company right off the bat, not three days before close. I gave them my mortgage information as soon as we opened Title back up a month prior.

    I called my mortgage company, and they would not allow me to have my payoff statement, it had to be requested from Title and given straight to Title, which is the law, and they should know because that is what their business is. My mortgage company told me it usually takes about a week for them to get my payoff statement to the Title company. Opendoor chose this crap Title company, and now I'm two days before closing and I have the U-Haul in my front yard half full. I'm sitting here packing like crazy getting everything out of my house, and I'm still wondering if I'm actually moving out.

    I called Title and spoke to the agent who was working on my case's boss and complained about her incompetence because of this and with my efforts alone I was finally able to get this deal done. By a miracle of God, it pulled through. I gave them half of the credit they originally wanted and they took possession of the house with me rushing out of the house because of all the crap I had to deal with I was struggling to get out on time.

    All in all I'm happy with the results of what they paid me, but the entire process was the hardest process I've ever gone through in my ENTIRE life and the most unprofessional one. The level of stress my family and I went through was ridiculous. The only solace I have is that they still have my house on the market and it has not sold for them at what they want. When they listed that house, it was barely above what they paid me and they've been lowering the price. I feel justified and will always tell people not to deal with Opendoor.

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

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    • Jan 16, 2018

      Mavis Huang, Community Manager

      Hi Sam,

      Thank you for taking your time to share your feedback with us. We'd like to better understand your situation and concerns. Can you please email us your contact information and the address of the home you sold to us at community@opendoor.com, and we'll have someone on our team reach out to you as soon as possible?

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  • 0 out 2 people found this review helpful

    Pleasantly surprised.

    The wife and I were starting to downsize before retirement and were looking into selling our home. We decided to give Opendoor a chance. I didn't know anyone personally that had used Opendoor, so I was somewhat skeptical of the company.

    We had an acceptable offer within the hour after requesting an offer online. We accepted this offer, but after 24 hours, we received another offer via email from another Opendoor representative that was substantially lower than the first offer. We obviously ignored the second offer but it kind of reinforced my skepticism.

    A word of advice, be ready to clear your house out. We were not ready and had to scramble and work very hard to get the house empty and ready for the final walkthrough.

    Once you accept their offer, things move really fast. From the home inspection team to closing. I was still uneasy about using Opendoor and thought they might try to lower their offer with high-cost repairs after the home inspection. The home inspection went very well, and I happily agreed to pay for the requested repairs.

    The final walkthrough was quick and easy with no issues. No problems at closing, but I did have a couple of issues with the title company. After accepting the offer, the title company seemed to be pushing me to hurry up and close. The wife and I had a lot to move out of the home, and it just felt like the title company was breathing down our neck. The other issue I had with them was that after the final walkthrough, they slowed down and were hard to communicate with during closing. The title company is why I'm rating Opendoor a 4 instead of a 5.

    Overall a good experience and I will highly recommend!

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

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    • Jan 16, 2018

      Mavis Huang, Community Manager

      Hi Jeffrey,

      Thank you for sharing your Opendoor experience with us. We'll definitely relay your comment about the title company to our team. We appreciate you taking the time to share it with us, as honest customer feedback helps us improve our business. We wish you the best in this next chapter of your life.

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  • 0 out 1 people found this review helpful

    Exactly what I hoped for.

    We had considered selling our house a few times and originally planned on selling the traditional way. After speaking with a few realtors, we decided we weren't open to showing our home any time a possible buyer wanted to stop by.

    I contacted Opendoor after receiving a flyer in the mail and requested an offer. Within a day or two, I received an offer that I felt was very fair. I was a little nervous since I didn't have any friends or family members who had used Opendoor before, but as I interacted with the team, my worries subsided. I enjoyed how well Opendoor broke down the offer and the ease of scheduling the inspection, closing, etc. on my own time. Anytime I had a question, and I had quite a few, I'd just shoot an email to a member of the Opendoor team and I'd get a response immediately.

    I'm thankful to the Opendoor members for their transparency, customer service, and organization throughout this process.

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

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    • Jan 10, 2018

      Mavis Huang, Community Manager

      Hi Kayleigh,

      We're so happy to hear that you enjoyed the Opendoor experience. We wish you the best in this next chapter of your life!

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  • Good offer with a ridiculously smooth process

    • Buckeye, AZ,
    • Jan 7, 2018
    • Verified Reviewer

    We had just gone under contract on our new house, which we could only get if we didn't rely on selling our current house, when I decided to look at Opendoor and OfferPad on a whim. I had seen their signs popping up all over our neighborhood and had heard they paid cash for a super quick close.

    After getting a joke of an offer from the other guys, Opendoor had offered us what I thought at the time was actually higher than the market offer. We decided to move forward, knowing we could cancel the contract at any time (which they explicitly put in the real estate purchase agreement - something I was concerned about). We kept waiting for the moment when they would try and "get us" with something - we'd read stories of Opendoor charging thousands of dollars for repainting, or ridiculous repair requests, etc., so we kind of figured after the inspection that we would walk away.

    Well, the inspection team came in, took a look at our house (which had custom paint throughout, to include very custom boy and girl rooms), and they sent us a request for a repair credit of, $650. Completely below what we expected! It was extremely reasonable things that would need to have been repaired anyways. AND, they didn't even ask us to repair things I fully expected to have to repair! So, we moved forward and just closed today.

    Looking around now, I believe we MAY have been able to sell our house for more the traditional way, but the looming threat of carrying two mortgages and associated bills, we decided it wasn't worth it. Especially considering our neighbors' homes have been on the market for months, with their prices dropping.

    I give Opendoor a 5-star review based on their very fair offer, their RIDICULOUSLY easy process (I seriously didn't even talk to anyone on the phone until the day before we were closing just to confirm our appointment time and their office location, not because they avoided me, it was because of how smooth everything is), and how quickly they can close.

    Keep in mind, for the reviews talking about being "low balled," they are effectively flipping your house, and you are paying a bit of a fee for the quick close and easy process. If you come in with that in mind, you will NOT be disappointed!

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

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    • Jan 8, 2018

      Mavis Huang, Community Manager

      Hi K Frauenthal,

      We're glad to hear that you enjoyed our fair offer and hassle-free experience! We wish you the best in this next chapter of your life.

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  • 2 out 2 people found this review helpful
    Updated review

    They made it right

    • Mesa, AZ,
    • Dec 1, 2017
    • Verified Reviewer

    Opendoor reached out to us, and after several days of them getting numbers together, they are sending us a check for an appropriate amount. They were very apologetic, which makes me believe it was an honest mistake. But I still encourage you to do your research before selling your house so this doesn’t happen to you.

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

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    • Nov 30, 2017

      Michael

      Why would you sell it to Open Door without doing some research on the proper value of your home first? This is completely your fault!

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    • Previous review
    • Nov 9, 2017

    We've been duped

    Do your homework because they will take full advantage of a young family trying to sell their house to move out of state.

    We did all high-end upgrades to our house and just had a brand new roof done. The only thing they needed to do was put a new AC unit in and paint the interior walls. Other than that, our house was top notch. They made nearly $40k from all our hard work and hard earned money that we put into that house. They offered us $220k, and less than a month later, they put it up on the market for $255k and sold it for $257k.

    These people don't have a conscience, and they will lowball you with an offer and rip your heart out and laugh as they take nearly $40k that should've been yours if you had gone through a realtor. If there is anything positive I can say about this company, it would be that the process was fast and easy.

    (read moreread less...)

  • 3 out 3 people found this review helpful

    From a homebuyer's perspective

    We had a horrible time locating a home within our price range in a suitable neighborhood. My wife, ever-growing frustrated with the search, downloaded their phone app.

    We found several homes that fit what we were looking for. The next step was a great experience; no waiting for an agent, hassle-free walking through with information on the kitchen counter!

    Simply open the app and, if the home is available, you unlock the door from the app! We did visit a couple of listings that were already under contract by the time we arrived to walk through. No problem, move on to the next.

    We finally found our home. Opendoor accepted our offer and, as it turned out, was $5K higher than the appraisal. No problem, they dropped the price to meet the appraised value.

    They supplied us with their inspection report (we also did our own) along with work/repair orders. We discovered their contractor did about half of what they said they repaired. Upon bringing it to their attention, all the necessary work was completed before the closing, which was a week later! They repaired everything that required attention!

    Here's what really blew us away. It's an 18-year-old house with the original roof. We asked for the damaged shingles and flashing be replaced. They replaced the entire roof! New architectural shingles, felt underlayment, drip edge, flashing, everything, including the back porch roof. While there are some personal touches we plan to make like replacing the laminate flooring with ceramic tile, this is move-in ready!

    No hassle walkthrough, the full disclosure of the condition, repairs done before closing and no bickering back and forth about who pays, repairs or attends to anything. What could be easier? Even our agent, who's dealt with Opendoor on several other transactions, was very impressed with how easy they are to work with!

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

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    • Dec 19, 2017

      Mavis Huang, Community Manager

      Hi Rhett,

      Thank you for sharing your Opendoor story! We're glad to hear that you enjoyed the Opendoor experience and we wish you the best in this next chapter of your life.

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  • 9 out 14 people found this review helpful

    Waste of time

    • Irving, TX,
    • Sep 20, 2017
    • Verified Reviewer

    Pretty disappointing experience (if you can even call it that). My husband and I were curious after hearing ads on the radio what they would offer us for our 3-year-old house in the DFW area. I admit the allure of skipping all the prep, not having to have the house show-ready all the time and having a fast close was enticing.

    It started off promising. Within minutes someone called and said an offer was being generated and we would have a follow-up with an agent to discuss things the next evening (great, for about 5 minutes), until we get a follow-up email saying due to the homes in our area being on the market for varying times at varying prices, they could not provide us with an offer. Seriously? Pretty sure that is the entire basis of your services, but advertise away! Apparently, the "instant" offers are made only to those homes on a select basis with optimal selling conditions. Misleading, to say the least.

    This will never replace a realtor or the human element of home selling. Our house is practically brand new, beautiful and I have no doubt they missed out on an opportunity. Stick with your realtor.

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

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    • Dec 19, 2017

      Mavis Huang, Community Manager

      Hi G.M.,

      Thank you for sharing this feedback. We're sorry we were unable to provide you with an offer. When someone from Opendoor first gave you a call, it was before our team of home experts had a chance to review the details of your home. Once they had a chance to understand your home and the neighborhood, we did not feel like we would be able to provide you with a solid offer on your home instead, we moved forward with the recommendation of the traditional route.

      This is not because we don't think your home is great but rather because there is higher than normal variability in the sale prices and time to sell homes similar to yours in the area. So we believe having an agent visit and price the home in person would likely result in a higher net offer for you. Our goal is to deliver the most value we can to you as a customer.

      We hope with this additional color you can see it was not, and is not our goal to mislead you. Thanks again for taking the time to share your feedback.

      Opendoor Customer Experience

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  • 12 out 13 people found this review helpful

    Overall a fair and painless experience selling our home.

    • Fort Worth, TX,
    • Sep 9, 2017
    • Verified Reviewer

    I, like many other,s had heard the radio advertisements and received offer letters in the mail.

    I feel I got an acceptable offer in the end, although not full market value.

    Also below the significant price range in their offer letter. Although most agents told me our home could get $15-30k more through traditional sale, it was not enough to risk losing out on a purchase close to work in an area where prices are rising faster than a traditional sale could support.

    You do pay a traditional 6%, minimum, 'experience" commission on top of what they make on the markup of the home. Thankfully by the 4th offer there was no longer a Market Risk percentage tacked on and we decided to proceed. There are always closing costs to consider as well. A bit higher than what my home purchase was charging, but not wildly.

    Then comes the army of inspectors. This is where the negative reviews and horror stories of others really started to sink in. I was worried about how bad were they going to nit pick and fleece me out of my equity. I was frightful of the idea that I may have to abandon my hope to move to my new home as every dollar of the deal had a purpose toward making my purchase and move happen. However, it ultimately turned out well.

    Most of the items were small and inexpensive in the grand scheme. However, I did about drop dead from the request to pay to paint the inside of the house to the tune of nearly $4,000. Especially after had just spent the prior 2 days repainting and touching up the whole house.

    It turned out this was due to one inspector noting they smelled smoke in the house. My response was to the tune of, “No kidding, they are going to smell smoke when all of them leave the doors open and someone is on the front porch smoking.”

    After explaining no one has ever smoked in the house and inviting the local OD rep to give the house a sniff-test, they agreed to remove all but $500 of the paint charge.

    However, I still felt even that amount should have been removed. Even with that still in, all-in-all, the total repair requests came out to less than $2k. Everything else in that figure was fairly expected, except for the garage door opener that decided it was a good day to die after the first inspector tested it and was fine, then the second inspector tested and the motor froze. Not OD's fault, just dumb luck.

    The only other surprise that I had to pay for a new land survey, even though I had provided the original and nothing had changed. Thanks again to all the gloom and doomers out there, I was still extremely nervous all the way until closing and through my lease-back that some last minute whammy was going to hit and leave me in a bad situation.

    Thankfully it was all smooth sailing, my reps were very considerate and responsive and even made the final walk through a breeze. So much so that I almost felt disappointed when they refunded my lease-back deposit and didn't need me to meet them for final.

    This was after a spent a whole day of my lease-back time being very thorough about fixing every nick and scuff on the walls and anything else I could find that may be discounted.

    All too easy and nearly nothing like the negative experiences that have been reported. I think one of my favorite parts of the process was that from the beginning we were told not to worry about cleaning the place, no need to fix nail holes, and that they pay to replace carpet without question. Only wish they provided the movers as part of their deal, that part was nowhere near as smooth, but at least we didn't need to clean!

    The ultimate thing to remember about using them is that the offer they give you is based on the home being in best possible condition. If your house has not been maintained, has unrepaired systems or damages, contains appliances in poor condition, or is your yard and landscaping is torn up or dead, etc., you have to expect they will deduct for the cost to make the house presentable and sellable.

    The money you saved by not doing things over the years will haunt you when it comes to inspection time. This is not just an Opendoor thing, this is a selling your home thing as many buyers are going to request credits or completed repairs during the buying process unless you are selling your home far enough below market to accommodate the repair/remodel expense.

    Some things are unavoidable at any sale price such as a house must have flooring, working smoke detectors, major structural and safety defects must be resolved for the majority of buyers using a mortgage to finance their purchase.

    FHA borrows have even stricter condition requirements. Before getting upset that your selling price or offer is being chiseled away, step back and take a good hard look at your home and truthfully ask yourself if it is in the best possible condition to command full market value. If you are uncertain, take the time to invest in your own inspector ahead of time to do a thorough check of your home and point out the things that may be deficient about your house.

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

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  • 7 out 7 people found this review helpful

    High fees but don't wait

    • Dallas, TX,
    • Sep 5, 2017
    • Verified Reviewer

    I was simply looking for a comp for my house to compare it to the Door estimate I had received. I submitted my request and received an email immediately saying that I would have an offer with in 24 hours with a request to upload pictures. I never received the offer, just another request to upload pictures. I attempted to do this, but there is no way to do this from their website after you submit your first request. I had to actually call the broker I guess, Chris Mason, and he told me just to email the pictures to him and he would send them on.

    I received an offer, which was actually fair except for the fees for brokerage, holding and fees to get the house ready for sale which totaled 12%. In my case, $43,000. I waited a few days to ask questions about the offer. I talked with Chris and resubmitted a request for an offer, the only way to get your offer information.

    I received an email from Opendoor at 5:30 pm on 8/30 that stated they were excited to make an offer. I pulled it up, and it was the original offer and then less than at 5:59 pm on 8/30 I received another email from them stating that they could not make me an offer at this time. Confused, I emailed Chris asking what was going on. He did not call me to explain; he sent an email stating that the in reevaluating the DFW area that in this case my fees went up to 18% so they could not make an offer at this time. Keep in mind it took them 29 minutes to make this decision after sending me the original offer. What is going on?!

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

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