I used ODHL due to the buyer incentive, and greatly regretted that choice. There was a complete lack of communication with ODHL from the beginning. There were dozens of times where I would leave a voicemail, text, or email my point of contact at ODHL and never hear back. I was completely in the dark for most of the escrow period (44 day COE). As an agent, I knew I could navigate the process, but if I was not an agent and not familiar with the process, this would have been even more of a nightmare to go through.
Since reaching out to get pre-qualified, we were told that it would take a week to hear back (normally lenders can get you pre-qualified in a day). After that, it took 22 days to get the Loan Status Update (which is required to be sent out within 10 days of contract acceptance). From there, ODHL never maintained communication with my insurance provider, prompting my insurance provider to reach out to me saying that they were unable to get a response from ODHL. Then, the day before the close of escrow, I ended up on a conference call with the insurance provider and ODHL because ODHL had still not worked with the insurance agency to approve the policy.
Then, on the close of escrow, I was sent a vague email stating that there was a delay in the process, and would have to push COE out one whole week. After talking with ODHL, I was then told that they could make things happen and still close on time. Then, closing docs were not sent to title until the afternoon, but I still was told by ODHL that we were closing that day. The close of escrow was ultimately pushed three days (which caused major issues for us since we were already packed up and loading up a truck with movers scheduled). We finally closed escrow, and it is safe to say that I will not be using ODHL in the future, and will inform my clients and colleagues of my experience when ODHL is mentioned.
Also, in the listing info on the MLS, it was advertised that there is a $100/day guarantee when using ODHL. I asked them about this in an email, and I was told that it would be handled. It is now three weeks after the close of escrow and I have still not heard back from ODHL as to how I will receive my $300 ($100/day COE was pushed). They have failed to respond, and the agent with Opendoor said that is has nothing to do with him. They are not standing by their advertised “guarantee”.
I understand that not everything goes smoothly, but this whole transaction was a total nightmare, and Opendoor has shown that they don’t care to make things right.