We were originally offer $555k for our home. When I had to update the offer to schedule the virtual walk through, it dropped the offer to $533k (8 days after the first offer). Was told that offers usually go back up after the walkthrough. After the walk through - they dropped the offer to 530k and had over 6k in “repairs” required. When I inquired about the repairs, they said the A/C will need to be replaced (it doesn’t) along with paint. The home was just repainted. When I pressed them on their offer and asked why they were not using a comp 2 houses down from ours that just sold for $589k, they stated that they purposedly excluded that due to the other home having superior lot location and “upgrades”. All if this was fodder and completely inaccurate. Our home has nicer furnishings and a far superior lot. When I asked them what they would list our home for after they purchase and make the “repairs” to the home, they refused to answer. Their 530k minus “fees” was essentially a 495k offer for a house that will list and sell around 590k - 600k in the open market. Highly disappointed around the process, lack of transparency and clearly trying to take advantage of uneducated home owners to allow Opendoor to come in and reap massive profits and not provide any real answers to their ridiculous low offers. Either be transparent, real or not. There is not a single appraiser who wouldn’t use the house 2 doors down to use as a comp…. Unless they work for Opendoor…. - Avoid like the plague if you want a real offer and to maximize your returns and equity in your home.
3 years ago
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