Opendoor

I heard good things about Opendoor. Now I realize they must be fake or paid reviews. We decided to sell my house to them. They came in smooth talking about how fair and easy going they are and how they are looking to make a good impression in Texas.

As it turns out they are just luring you in. We were hit with 10s of thousands in repair costs - one of which includes replacement of my entire HVAC system which is less than 8 years old and works just fine.

The final straw was their refusal to honor the original closing date and rejecting my survey 2 days before closing. They wanted a new survey and pushed out closing 7+ days, costing me thousands more. Their "agent" was extremely rude, to the point refusing to communicate, when we were actually able to get them to talk to us at all. We terminated the contract.

Do not use these folks, they are looking to take advantage of people.

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

Be aware of Opendoor's scandalous procedures! Especially when it comes to any so-called "needed repairs." They gave us a whole lot less than what the house was worth to begin with, but the thing I’d like everybody to know is this...they send people out to look at your house first to check for any repairs that need be done prior to close. This is how they really screw you over! I’m mentioning this as the pool contractor guy they sent out to look at our pool, he actually broke our pool heater himself accidentally, then snuck away without saying a word. Which ended up frying out the system and we could no longer run our filters or use our pool due to his mistake. And what Opendoor did, was that they then actually went and charged us $5340 for his mistake to get this repaired. I have all the pictures, receipts and documents to show how all was perfectly just fine prior to them coming to our home. Nothing at all was wrong with our pool. I had just had it all completely redone. But because of their pool guys mistake resulting in him breaking the pool heater, they turned around and charged us when we had nothing to do with that. So I had to pay over $5,000 on pool issue alone.

I only ended up using Opendoor as I already was in the middle of closing on another house in Florida already and I couldn’t bail out because I was already too far into the game at that point in time. They say they will look into issues to try to resolve them, but trust me...THEY WON'T! They take advantage of the fact knowing that on a move, people have so much going on, that we just don’t have the opportunity to pursue issues that are not being fairly dealt with.

Not only was this one repair issue charged, but they charged us for repairs that we went ahead and fixed ourselves, as they told us if we did so we would not be charged for them. That was all lies! I have receipts and pictures all to prove I had taken care of these things, such as painting the inside of medicine cabinets, that they in turn did nothing to them (for I repainted them myself already), yet they still charged me $90 for that one example alone too. So they will charge you even if you do your own repairs, although they will tell you differently to begin with. Then they charged me $400 to completely trash out the house when in reality it had indeed been trashed out completely. I had paid to have this done and have pictures to prove so, but in the end, they still charged me $400! DO NOT TRUST THEM!

I would also like to note that I had accidentally left behind my makeup bag with my expensive perfumes, makeup, and facial cleansers, etc. under the bathroom sink and called them the following day after we closed to ask if they would kindly leave that with the neighbor, but they refused to do that one simple thing for me and it was a small makeup bag (worth about $200 belongings inside) not weighing more than a pound. I had already left Las Vegas to drive to Florida so I could not turn around, but they would not do a simple thing as drop it off next door for my neighbor to ship to me. It was a small pouch that’s meaningless to them but not to me, but they DO NOT CARE! So I lost a good $200 in items there too.

So, in the end, I lost out on a good $20,000 - $40,000 on the house alone, plus another $7,500+ for false claims of repairs they said they had to do (which in reality I had fixed on my own already so they had nothing to do). So everyone be aware that even if you do your own repairs they will NOT take that into account and they WILL still charge you for them even if they do absolutely nothing after you’ve done all the work yourself. I needed the money to buy my new home so I went with it, but you do need to be aware that they WILL rip you off as much as they can.

Be aware of their so-called contractors they send to your home. If they break something, Opendoor will not accept responsibility on behalf of those people they send out to your home and in the end, you will have to pay for things that these people break. They will send out about 5 different people so you can’t watch all 5 at the same time. They are sneaky and very corruptive! Opendoor is only good if you have no other choice so be prepared to lose out at least $40,000 in the process of doing so. I regret trusting them. Don’t bother doing any repairs for you will end up paying no matter what! They should not be able to do this to people as it just is not right!

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

Opendoor will low ball you. I would stay away from them.

I tried Opendoor and it may be an alternative for desperate sellers who want to unload a house quick. From what I can see, they will apply a quick paint job and try and flip the house quickly at your loss.

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

I put my information about my property in Opendoor online because I fell for their false representations also on their website. Then I was informed after I had given them the address and location and other confidential information about my plans to sell that they weren't interested in buying condos in gated communities. Well, in the location I live in there are only gate condo communities because it is the top-rated county in the State of Florida for quality of living, income, and schools. Then I am told if I give them more confidential information they will reach out to their partners to see if they are interested. Then I get an email that no one wants to buy my condo when these condos in my complex are listed as the top condo community by Folio Weekly as rated by their viewers in Jacksonville, Florida and are very easy to find sellers. So my point is, this is just a scam website to get people to enter their confidential information by them promising to make the selling process simpler and you will not get anything for following for this scam like I did.

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

I have spent hours dealing with Opendoor just trying to find out if a home is even available. Now I've written an offer and can't even send it to their email address. Maybe I will hear back from them to find a way to submit my buyer's offer.

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

Opendoor has its benefits. Sure and hassle-free sale, flexible closing date, easy, relatively paper-free process.

However, DO NOT take the estimate on your closing statement too seriously. What they estimated as additional closing costs and what was actually our closing costs were worlds away. We understood that the estimate, was just that...an estimate. However, we expected the difference to be a few hundred dollars maybe. They missed their estimate by over $3000. This was money we had earmarked to complete the down payment for our next house that we were closing that same day.

We finally got the closing statement two days before closing after asking for it, for several days. Movers were already scheduled, and we were closing on it in two days and on a new house right afterwards and suddenly found ourselves thousands short.

In the end, we made it work, but my advice is don’t trust the estimate, and press hard for the final closing statement. You would think that since they are in this business they would be able to give you a more solid estimate of final closing costs. But do not make that assumption, they can’t be thousands off so be warned.

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

They give you a fair offer at first. Then beware, it’s 8.5% service (very high) fee. You also pay the closing cost and then they tell you that they’re not gonna ask for you to replace anything that isn’t broken, but when they come out and do the inspection, they want new this, new that, or you can pay for it. It’s not what it seems, when you asked to negotiate the price for the repairs they give you a peanut. If you’re not in such a great hurry but you got another month or two, look elsewhere, there are so much better deals out there. This may have been one of the best options at one time, but they have changed everything so it’s no longer what it seems. Might as well just sell the ugly homes.

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

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

Opendoor came back with an offer $62k below fair market value for our home. Within 24 hours of listing our house, we had an above-asking price offer in hand.

They lowball offers, despite saying they're competitive. Not renovated, half the size, half the lot sized homes in our neighborhood sold for more than they offered...even our county tax assessment is $27k more than they offered.

Huge waste of time. I do not suggest using them.

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

DO NOT let their work crew do any work - gutters installed wrong, flat paint over gloss paint, paint drops on floor and carpet, among other things. Sale of the house went fine, they replaced the hot water heater (under supervision), rehung shower door correctly.

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

Part of their proprietary algorithm seems to be a penalty for not accepting their offer.

The initial offer I requested out of curiosity, and the number price was actually fair, but I disagreed with their market risk percentage (4.5%).

So I talked to the agent, forwarded a dozen pictures to show the house was ready (actually planning to list in the next few days) to see if the offer would increase, or the market risk would go down. The second offer came back, $6k less on the offer and market risk raised to 5% (this was inside of 2 days).

Fast forward, my house has been on the market a few weeks, and I noticed that my estimated value on Zillow had gone up by about $20k from when we had listed based on comps. Since Opendoor's offer was pretty close to what Zillow had estimated initially, I figured if their offer scaled with Zillow, then even with their 'market risk' percentage, it was actually within the range of what I'd consider an acceptable offer. So I submitted for an offer again. (This was a Saturday). I waited and hadn't heard anything by Monday morning, so I submitted again.

Finally, today, I received two offers, 6 hours apart. Each was about $6k less than the one before, and each had about .5% increase in market risk, so despite the market value improving, their offer decreased by about $18k, and market risk went from a high 4.5% to 6%. Dropping $6k in value and 0.5% increase in Market Risk within 6 hours.

So if you get an offer, and are on the fence at first, just know that if you come back later, they're going to take advantage of your desperation.

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