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
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.