Opendoor

I'm an investor in the Atlanta area and decided to test the Opendoor process. I submitted a completely renovated 2660 sq. ft. ranch on a basement single-family home. Comps in the area for this type of home were going for $400K+. The advantage I had was this was a true ranch. All other comps were two-story or split level homes. I submitted all the information, pictures and updated records. The offer...$367K minus $30K in Opendoor fees for a total offer of $337K. I listed the home for over $100K more and made a profit of $70K, whereas if I foolishly accepted Opendoor's offer I would have been in the red.

Long story short, I do not see this replacing traditional real estate sales processes any time soon. Real estate agents, maybe, but not the process. This will only work for people who are still upside down in their mortgage, or need cash fast and will sell their home for below market.

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

I decided to go with Opendoor since we have to close on our other home in 45 days. I knew there was no way to sell our home by then. I figured I would give Opendoor a chance since I saw the same home bought by Opendoor a couple of months ago. We got an offer I was happy with, and everything was going smoothly until the assessment came back. I got a call from Opendoor saying that they couldn't buy our home because of cracks in the stucco.

I thought that it's a deduction from the amount offered would fix any issues they found. The stucco cracks are hairline cracks and were surprised at this. My home is a Virginia home which is a very strict inspection that I had done just over two years ago, and everything was fine. The home identical to mines that I mentioned earlier has fewer upgrades and with my new roof being only two months ago except for few stucco cracks I have. Just a warning, don't get your hopes up to high on just the offer. Wait until the assessment even to think they are really going to buy your home. Also, my home was built in 2005. I talked to them about an offer pad and their working with me to see if the stucco cracks are indeed bad. They will just deduct from the amount, something Opendoor could have done.

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

This is the second home I’ve sold, and the process with Opendoor could not have been easier. With three kids and a dog, having a home ready to show would be a nightmare and Opendoor's offer came in at the amount we wanted to sell for with no hassle. My wife and I kept waiting for something to unravel with the deal, but it never did, the process was smooth and easy.

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

I received a quote from them to buy my home after they came out to inspect the property and gave me the final contract, where they charged 17K in fees, more than the cost of using a realtor. They wanted me to pay closing cost on top of that.

I rejected the offer and you would think that would be the end of it. But it was not the end of it, they had all of my utilities switched over to their name. When I realized what they had done and changed them back, I was then required to put deposits back on all my utilities because Opendoor discounted my services and put them in their name when we had no signed contract, just a quote.

Do not use this company, the hassle-free quote cost me $2000 in utility deposits and they never responded to any of my calls asking them to fix the problem. Big time scam. I'm warning everyone because of the many hidden fees.

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

We purchased our home a year ago, but we are moving for a job relocation. I submitted my home to Opendoor, just to see if the reviews were true. Our home has a market value of $298k and their offer was $271k, and after the fees, we would walk away with $254k max. We paid $280k a year ago. We put in $15k to the home over the past year and the home was completely renovated right before we moved in. I can't imagine how much they would knock the price down with "repair credits." This company is clearly trying to take advantage of sellers who need to sell as soon as possible. Fortunately, that wasn't the case for us, and we can choose to decline a pitiful offer from Opendoor. DO NOT USE.

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

We had our house on the market and found a house to buy fairly quickly. Our realtor suggested OpenDoor, so we can try and get a quick buyer for our home. Their offer was low but decent, so we accepted and moved forward. OpenDoor sent an inspector to our house and demanded repairs or an additional $11,000 in lieu of the repairs.

The repairs they are demanding are ridiculous:

* Complete carpet replacement; we offered to clean the carpet.

* Complete house repaint; we have patched holes from pictures and repainted those areas.

* Repair linoleum floor in a closet; it has scuff marks on it, and we offered to clean.

* Replace unstable deck and railings; our deck is not unstable, we use it daily.

* Replace upstairs AC unit; we recently replaced the downstairs unit and the upstairs unit is older, but it works. I would understand wanting a home warranty or a letter from our AC company, but to replace a unit that currently works is not reasonable.

Our final straw was after when we made the repairs, they refused to remove the wording from the contract that said the buyer has the right to refuse the repairs and the seller will be required to pay. This company is trying to nickel and dime us everywhere they can. We are trying to get the equity out of our home while they are trying to take as much money from us as possible. Thanks but no thanks, I like to deal with people that are reasonable. This has been a horrible and incredibly annoying experience for us.

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

We bought a home from Opendoor last December, the home warranty they provided me with OneGuard Home Warranty is a scam, they will not cover anything. I would ask for a home warranty from a different company other than OneGuard.

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

With a messy teen, the thought of showings was intimidating. When I received a mailer from Opendoor, I hesitantly investigated. The process was much simpler from start to finish. Along the way, I kept waiting for the other shoe to drop, but it never did. Perhaps, I could have gone the traditional route and made a bit more money but maybe not. For me, less stress and headache was totally worth any potential shortfall. I highly recommend this company.

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

Opendoor stepped in and saved me a year of my life. I was looking to sell my home in Nashville, Tennessee as the real estate market heated up to prices I wanted to sell at. I tried listing with a real estate agent but the volume of showings and the low offers was too much to deal with day after day. I really needed to spend months with contractors fixing some issues outside with a retaining wall having to be rebuilt, trees that needed to be trimmed, a front porch that needed work, and a very small structural problem. I called Opendoor and received a quick offer at the marker price. I had a quick inspection and their quotes to fix the issues in my house were all cheaper than the prices I had quoted! They also deducted the fixing costs from my offer price so I had no out of pocket costs.

My Opendoor experience was of excellent responsive customer service, quick turn around, and I think they are the future of real estate acting as the buyer, seller, and fixer leaving the home seller to avoid the hassles of selling a home and leaves you to live your life.

I would recommend anyone using Opendoor and have already done so with friends in Nashville. I think Opendoor is the Uber of Real Estate, making the complex simple and the hard work easy.

Thanks to Opendoor for making my house sale easy and allowing me to retire to my dream home in the country and live happily ever after.

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

Opendoor made an offer the same day I filled out the questionnaire. That offer turned out to be more than what traditional real estate companies said they could sell the house for, so we went with Opendoor. The process was fast, three weeks from offer to check received. The inspectors were thorough, and the repairs they wanted were very minor and fair. The online staff was attentive and easy to work with - we closed long distance, and the check was overnighted. It could not have gone better.

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

I was SO very skeptical when this started. I closed today at 8 am, just two weeks after I started this process, and the deposit hit by 3 pm.

The offer was slightly lower than I had hoped but not having to pay another (or six) months mortgage payments, and utilities, and lawn service, etc.

The inspection process was very easy and they asked for zero, yes zero, fixes. I am very happy and the wife and I went out to celebrate how well this went. I will be interested in how much they list it for and how long it takes to sell. I would absolutely recommend using this service and if the offer is even in the ballpark, especially if you live in a tough market.

I have watched homes in my neighborhood stay on market for months at $200k a month they could have accepted an offer $12k lower and still been in the same place and be out of the showing and stress business.

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