So, my husband and I have recently begun relocation cross country to his hometown. When I got a very good job offer it put some urgency into selling our home. We only had it on the market about a month before we decided to go with Opendoor. I knew we would not make a big profit, but since I had good equity, we would be okay with the settlement. I had read all the reviews, done some research and even retained my agent for the process at my expense. The offer was very low, and the fees are very high, the cost of convenience I suppose. At this point, the repairs came out to $4,300. A bit high, as if I am paying for improvements for them to flip it, but again, perfect victim due to urgency.
This is where it gets bad, really bad, I am already losing tens of thousands versus a market sale, I am in my new hometown closing remotely. The mobile notary comes to my Airbnb on Wednesday, we sign, husband signs in Texas. Done. Nope, TWO hours after closing I am informed the math was wrong and it would be $6k less! After closing! People, I cannot stress enough the fact that this was AFTER closing! The first story was Opendoor commission, the second was taxes, nobody really knows. They just want an extra $6k and since I am even more pressured with a pending home purchase, I believe they thought I would have no choice. Wrong, I went through the settlement sheet and every department that let the error slip was forced to rebate their fees, my agent reduced hers and they made up the difference. Did I mention I am in leadership?
The story is not over though, as I sit here on the east coast on Friday afternoon, still no funds. They can’t seem to put a trace on the wire that they documented as executed on Thursday and was not executed until this morning. But, still NO funds. I call the closer and she informs me that that they accidentally sent a live check via FedEx to the property address they now own, in Texas, and the wire transfer tracking number I was provided was for my agent's funds, not mine. Please note the finance company and title company are owned by Opendoor. To conclude, it is 5:15 EST on Friday and I just got funded on a transaction from Wednesday. My closer was genuinely upset and did resolve it, but had it not been for multiple calls to the office, my bank, my mortgage company and agent it could have been weeks.
Only use Opendoor to get rid of a mortgage payment, nothing more. There are people that depend on the equity to buy a new home and with Opendoor you will not be sure even after closing.
Bottom Line: Yes, I would recommend this to a friend
