Since writing my initial review about two months ago, I have been in communication with the Opendoor team regarding the sale of our previous property. After reviewing our case, Opendoor reached out to us with a resolution. We have received a fair settlement amount from the company. The company proved itself to be a company of integrity. Their goal was to simplify the home selling process and make us a fair offer; and in the end, we feel that this goal was ultimately accomplished. Because of this, I am updating my review to 5/5.
I would also like to mention that I am updating my review simply because I decided to so. The company did not, in any form or fashion, ask me to update my review. There was no persuasion, coercion, or harassment. I just feel that if Opendoor did what they could do to rectify this situation, then the least I could do is make readers aware that the company did make things right for us. And we truly appreciate it. If I owned a business, I would hope for the same.
So I hope that this updated review gives you some reassurance if you are indecisive about selling to the company. Overall, we had a hassle-free and great experience. Given the opportunity to do it all over again, the one thing I would do differently is to make sure that I'm satisfied with my offer prior to closing. Just know that if you are in question and do not think your offer is fair (based on market value and comps), you are able to request a reassessment or appeal the offer prior to accepting and closing.
Bottom Line: Yes, I would recommend this to a friend
20 people found it helpful
Link to this ReviewWe took an offer from Opendoor. The offer was low, but out of desperation for funds to close on another home, we accepted. When we initially filled out the online survey, one of the questions asked, “How much do you think your home is worth?” Our home was in exceptional condition. We had recently spent over $3,000 in upgrades to the flooring, HVAC, the roof was new, etc. The offer they gave us was well below what we thought our home was worth. They offered us $205,000, which was $10,000 less than we felt our home was worth.
A realtor was certain they could sell our house for much more than the $205k they offered us, but we did not want to risk not having the funds to close on our new house in time. We moved forward with the process. Everyone was courteous and professional, I can honestly say that.
So after an inspection, they ended up deducting over $2,500 in repairs from us even though when the inspectors did their walk-thrus, they told us our home was in excellent condition, aside from needing some new paint and a few tiles (which we had stocked) in areas. We did not argue with the fees since they told us there was no room for negotiation. We accepted the $205,000 and closed.
So, then Opendoor turned around and marketed/sold the house for $230,000. They marketed it for $25,000 more than they offered us. And with all of their deductions, repair fees, title fees, “Opendoor experience” fees, etc., that they’d already pocketed, there was about $35,000-$40,000 (or more than they profited overall), considering the payoff amount of the house.
I was in disbelief. I did not expect the difference to be so drastic. I knew we weren’t getting a fair offer, but I didn’t think we were getting ripped off at the time, not until I saw the home listed and sale pending on the market. I feel like they did everything in their power to pocket our profits. If they had even offered us $210,000, I probably would’ve been able to sleep better and brush this off. But sadly, I feel like we were extremely low-balled and ripped off, which is why I’m expressing my opinion here.
Once again, I will say that the team was very professional and nice, and the process itself was smooth, but that sort of all goes out the window when you’ve gotten cheated out of your well-deserved money.
Company Response from Opendoor
Hi Courtney,
Thank you for providing this feedback. Our aim is to provide competitive, market value offers to every seller. We’re reaching out to you via email to dig into this a little further and try to understand why this might have happened.