This review is mostly negative because Opendoor offered so far below market value it was almost insulting. The last offer I received from Opendoor would net me about $625,000. This was for a house that was 100% ready to go on the market (professionally cleaned, all repairs and touch-ups completed, landscaping and painting completed, etc.). My agent created an off-market listing and the house went under contract for $842,000 with an approximate net to me of $795,000. So by not using Opendoor, I stand to make well over $150,000.
Maybe their algorithm just didn't work in my neighborhood. I will say that the people I worked with over the phone and in person were very friendly and helpful. Other than an offer that wasn't even close to market value, the process was easy the communication was good.
A little more history. The initial offer from Opendoor was maybe 6 or 7 months ago and came in around $800,000. This was in line with the market at the time, but I just wasn't quite ready to sell. A few months later (Oct timeframe) I received another offer, but this was around $700,000. When the house was finally ready to go on the market in early January, I received another offer, but this one was close to 680,000. The day after I went under contract for $842,000, Opendoor refreshed the offer for $670,900 but after closing, 5% service charge and repairs(?) the net to me would be just under $625,000 compared to the $795,000 I am currently estimated to receive under the existing contract.
2 years ago
Opendoor has a
4.4
average rating
from
3,350
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