Opendoor

It provides an option if you are in a crunch, need to sell quick, and are willing to lose some profit.

Pros: Fair offer, quick process.

Cons: Their service fee is more than a realtor, they use their own contractors to assess damages and come up with unnecessary repair items, which they then use to deduce the value of your home. This service would be a good option if you have high equity and your home is in perfect condition (updated home with zero damages). In my case, they offered $236K but then came up with a bid of $40K for repairs, which disqualified me.

I was content with the outcome because I got to keep the option fee money and made more profit selling my home using iList. I sold my home for $226K with no repairs and only 1% listing fee and 3% to the buyer’s agent, a tremendous savings from the $17K that Opendoor was asking for plus the cost of repairs.

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

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

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

Opendoor was very professional, and for a slightly higher cost from that of a real estate agent, we could avoid all of the painful hassles of selling. Their repair credits were reasonable, and between initial contact to closing, it was just 20 days.

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

I had another interested party to purchase my house. The offer was too good to refuse.

They too had a home inspection done. This is the third one done. This inspector found no issues with the roof. That would be two inspectors and one roofing contractor that said there were no issues.

The only inspector that said there was an issue was hired by Opendoor. He would also have been the replacement contractor. Conflict of interest much.

The reason I gave Opendoor another 2 stars is because they were true to their word. Opendoor promises the ability to cancel right up to the day of closing with no repercussions to you. We were four days to closing and the contract was canceled within 24 hours of the request to cancel. I feel the fault with the sale not going through was the fault of the roofing contractor they employ. Everyone at Opendoor was very good to work with and helpful and accommodating. They made a competitive offer and would have honored it. The devil is in the details. Do yourself a favor and have an independent inspection done if you doubt the Opendoor report.

Yes, I would recommend to a friend offering the same advice.

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

We had a wonderful experience with Opendoor until...

We now realize we were low balled with the maker value of our totally renovated home. We sold to Opendoor for $277k - fees and repairs for a net of $251k. Opendoor listed our home for $309k and it sold for $311k. Opendoor made $60k, clearly exceeding the market value they quoted to us. We are disappointed with this transaction for that reason.

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

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

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

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

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

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

We used Opendoor to sell our home in Stone Mountain, GA and it was truly hassle-free. It was just like the commercial started; we listed things about our property and then Opendoor made an offer and we went from there. I love the fact that there was only one scheduled visit by an Opendoor representative to do an assessment on our home. Of course, they found everything humanly possible that was in need of fixing and the charges for the fixes I believe was inflated, but I did not shop around to see how much it would cost to do the fixes myself. Even though I thought the amount for repairs was excessive, Opendoor had given me a great offer that allowed us to still come out on the positive side. The Opendoor representative was amazing and I was always able to communicate my concerns with her. Oh my gosh! Closing was a breeze. Everything was laid out ahead of time and Opendoor did their part and we were able to sign our documents with explanations from the closing attorney. I would recommend Opendoor.

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

We made the mistake of house shopping to kill time 6 weekends ago. We fell in love with a new house, in a new neighborhood, but there was no way we could buy it without selling our current house.

I’d seen a few ads and mailers from Opendoor and decided to give them a try. I filled out the online "request an offer" form and received an offer in less than twelve hours. I thought the offer was too low and decided to call a local realtor. The realtor came out the following evening and gave us his pitch and market analysis. I’d not mentioned anything about Opendoor, or their offer at all. When we finally got to the bottom line the realtor said he was confident he could sell our home in 60 days or less for "FIVE THOUSAND DOLLARS LESS" than our Opendoor offer! That was all we needed to hear. As soon as he left we called the Opendoor contact, who’d already followed up with us and accepted their offer. Within thirty minutes we had a contract, which we e-signed. The next morning by 10 am, we had a fully executed contract, and made the trip to the new house to get that under contract as well.

I was nervous that there was some hidden agenda or last-minute trickery to try and hit us with more fees or something, but there never was. Everything was clearly spelled out and communicated throughout the process and the people were all great.

The only reason I’m not giving 5 stars is because I still think the offer was about five grand too low. I understand that Opendoor is taking all the risk, and I expected they’d offer less than market value, but I think I probably could have gotten twelve to fifteen thousand more if I’d listed it.

This was by far the easiest home selling experience I’ve ever had...and I’ve sold many! If you’ve got enough equity to accomplish your goals moving forward and want to avoid all the work that comes with listing the traditional way, I’d highly recommend Opendoor!

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

When I first thought about selling my home, I only knew of two options. Sell the home myself or hire a realtor. Both options required a good amount of my time. I first heard of Opendoor through a billboard I saw, then again on the radio. The concept sounded great but I’m always skeptical about things that sound too good to be true. After researching and asking around, I decided to give it a shot.

My experience with Opendoor was wonderful. It required very little of my time. The customer service was amazing and friendly. Also, their online hub was clean and very user-friendly. I would recommend Opendoor to anyone who doesn’t want to deal with the hassle of selling a home.

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