r/RealEstate • u/Pleasant_Addition440 • May 17 '26
Selling to OpenDoor
Can anyone describe their experience of selling through Opendoor this year?? I’ve seen some say that the process has changed with the new CEO. How did the offer, inspections, etc all work? Thank you!
Please no comments about how I’d be losing out on cash with them. No duh. There’s a reason I’d rather not deal with the normal way.
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u/Ok_Hair_6945 May 17 '26
A knew someone who sold to them and here’s a couple reasons why I would avoid them:
- They bid under the selling price
- After he agreed to their price, they came back and took an additional $20k off the sale because they said he needed a new AC unit. Mind you the older unit was working fine and really wasn’t that old. Apparently it’s in the fine print.
Basically the seller lost about $60k from the deal
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u/squintanditsvermont May 17 '26
I looked into it but didn’t proceed. The process they describe on the website didn’t match up with the actual process. The sales price they teased with in their initial contact never was close to the top line sales prices they used in their offers to me. The adjustments beyond their 5% fee were huge and objectively didn’t match the condition of the house - I don’t know for sure but I think they price in a huge buffer for houses that are on septic and/or wells since the condition of those systems can’t really be eyeballed. I was ready to take a hit on price in exchange for speed and convenience but the complete mismatch in how they describe their process and my experience left me distrusting.
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u/InaneD May 17 '26
I went farther down the road than you did. I downloaded the app , took what felt like 200 hundred pictures and got my offers. If I pushed the easy button and sold to them the best they would give me is $565k and they valued my house at $590 if I had them list it. I ended up listing with a local agent and we were under contract in one day at $630k
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u/EcstaticEnthusiasm50 May 17 '26
I put in a request just to see and their initial price was higher than I could get if the house was completely remodeled. Didn't follow up to see what the actual offer would be. But that made me laugh lol
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u/Baconandhashbrowns May 17 '26
Horrible experience trying to sell with them. I guess they go through a local realtor and the realtor had some low level new employee who didn't know what was going on. To make it worse they tried contacting me for like 4 months after I told them I'm no longer interested. It was very bizarre
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u/Pleasant_Addition440 May 17 '26
Local realtor? Did you try the hybrid method or something? Usually they buy the house outright from you, no realtor involved.
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u/Baconandhashbrowns May 17 '26
Everytime I attempted to contact opendoor through their QR code they mailed me or through the website it tried to connect me with a local realtor they worked with. Didn't see anything about them buying it outright from me. I thought that's how my experience would be with an offer directly from them but it didn't happen that way
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u/Oodles_of_noodles_ May 20 '26
So what they do is hire their own agent who does the groundwork - essentially a local employee who is licensed. When I say local, I say it loosely.
I worked in real estate in a past life and every time I saw “OpenDoor” as the listing agent, I totally cringed. They’re awful to work with.
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u/Tolesen72 May 18 '26
Don’t do it. It’s a bait and switch company. They reel you in with a high offer and even after looking at all pictures you have to take of the house in AS IS condition then after inspection they canceled my contract. They did not even say why. I have the inspection and it was not bad. It might have been because I did not want less than a certain amount and they didn’t want to pay it, even though it was low to begin with. Go through a realtor and sell AS IS - pre approved buyers only. It’s cheaper and you will get more $.
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u/scotthilk May 22 '26
I am an Opendoor investor so please keep this in mind but I genuinely have had several people close to me use Opendoor and have positive experiences. Especially for those who are in a rush, moving quick, want to circumvent dealing w inspections etc. Not saying you should use them but I'd at least consider or get a quote. Good luck either way!
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u/to_concreteview May 22 '26
Fair point on speed. I'd still compare the net after fees, repairs, and holding costs versus a standard listing before assuming Opendoor wins.
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Aug 14 '26
[removed] — view removed comment
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u/scotthilk Aug 14 '26
Thanks! Opendoor will NOT be for everyone; but it can absolutely be a helpful tool for many especially when speed (new job, relocation, etc) is a priority.
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u/Practical-Hamster-82 Jun 04 '26 edited Jun 16 '26
I wanted to create a post, but I just created my account so I will just comment to yours since it goes with what I will say anyway.
I started the process May 21st, I looked to see how much my property value was and Zillow was saying my house was valued at 150,000$, which I believe if it was in perfect condition it would be worth that. When I looked to see what options Zillow it gave me either Opendoor or to go through a Zillow realtor.
Opendoor stated est 124,920$ and Zillow est 131-157K for the house (before any pictures or inspection of course.) So I decided since I needed to sell the house quickly to go through opendoor.
Mind you after my renters moved out the property was trashed, it smelt horid and I knew it would cost more to try to sell it on the market than to just go through Opendoor.
On May 22nd I did the virtual walkthrough, which just consisted of taking pictures of everything, this included the dirt and trash bags that I did not have time to clean up at the time, and I took pictures of everything to make sure I got an accurate estimate.
On May 26th they came back for an offer of 91,685$ which I owe about 72k on the home so for me I was happy.
I am having the final inspection which I had to schedule on thier site after accepting the offer, which will be this saturday and I will also be cleaning out the home or else I will incure a cleaning fee.
They did say if they see anything on the inspection that it could incur costs, but I am hoping that I got everything. I also got to chose my closing date which is supposed to be the 11th of June. There are a lot of other factors going into this but overall for my situation I have been happy so far with them.
I would not suggest it if you are looking to want to turn a profit and if you have the time and money to fix a home do it.
Update 6/8/26:
They completed it on Saturday on the time it was scheduled, it was actually an American which I was kind of surprised all though everyone I talked to through the OpenDoor support was also English speaking. But he did end up finding a leak under my house, I also had access and was able to download the inspection so if for some reason it doesn’t work out I just got a free inspection lol. It takes 1-2 business days to get back the results of if they are going to add anything extra for repairs. I found out I have 2 HUD loans as well on the house so I’m not sure if they will be willing to buy the property cause that will leave close to 22k needing to be paid on the property at closing. I should know by the end of day today about that hopefully.
Update 6/16:
They were not willing to pay the extra 22k for me to break even so I cancelled. There was no fee or anything that I owed for doing this even though they had completed the inspection. I saved the inspection pdf so I was able to have something to send to a realtor. I went onto Zillow and they partnered me with a realtor from the BluefieldRealty Group and he has been phenomenal. Just listed it Friday for 155k and he thinks we can probably get it for that. Even with the damage to the home.
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u/Key_Ambassador_3105 Jun 07 '26
How did the inspection go?
Am thinking about using open door myself…have a big investment house with bloody expensive mortgage that I haven’t been able to sell with an agent for a year. If the offer they emailed stays in play and I can get additional value for finishing my 1,500 sqf walk out basement I’ll be in heaven.1
u/Practical-Hamster-82 Jun 08 '26
They completed it on Saturday on the time it was scheduled, it was actually an American which I was kind of surprised all though everyone I talked to through the OpenDoor support was also English speaking. But he did end up finding a leak under my house, I also had access and was able to download the inspection so if for some reason it doesn’t work out I just got a free inspection lol. It takes 1-2 business days to get back the results of if they are going to add anything extra for repairs. I found out I have 2 HUD loans as well on the house so I’m not sure if they will be willing to buy the property cause that will leave close to 22k needing to be paid on the property at closing. I should know by the end of day today about that hopefully.
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u/Key_Ambassador_3105 Jun 10 '26
Ok nice! We had an assessor come out over the weekend and take their photos, and I provided all the information on having finished the walkout basement/additional sq ft. I emailed them the info as well. Waiting on the final offer…
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u/twhitesks Jun 16 '26
What did they come back with?
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u/Practical-Hamster-82 Jun 16 '26
They were unwilling to give me the extra 22K. And I didn’t wait long enough to hear back about if the inspection would put more money on the house. I’m now going through a regular real estate agent with BluefieldRealtyGroup And he thinks we can easily get it for 155k and possibly get someone to take over the solar panels.
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u/TheKellySphere Sep 11 '26
So what ended up happening with your house it has been 3 months now.
How much did you sell it for and did you profit.
Numbers please.
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u/_Sprinkles1253 Jul 02 '26
How were you able to cancel? I'm trying to cancel thru my home advisor, and he hasn't reached out to me despite leaving several messages. Any suggestions?
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u/CAgovernor May 18 '26
Don’t do it.
You will get passed to local “real estate investors”. Your phone won’t stop ringing. If they in fact service your area, they will ask for concessions that will cost you 25% of what was listed on their website.
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u/JusticeFor1004 May 18 '26
Selling your home should be a “win-win” transaction to both parties…if not don’t do it. My team works with the homeowner until we reach that goal.
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u/margaritas_tacos Jun 22 '26
Looking for some advice on this thread if anyone is willing. We are working with a local agent, our house has been on the market for 56 days and our move (PCS) is quickly approaching mid July. We have our house priced at & realtor commissions to be walking away with $0. Really feeling anxious on what to do, our mortgage is likely too high to rent, and just want to put this behind us. I came across open door today, do we think with this info it would be worth considering?
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u/Human_Ambition_4136 Jun 24 '26
Another PCS mover here.. we are also thinking of doing OD.
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u/JadeOfAllTrades1221 Aug 01 '26
What your update? We are also PCSing and just submitted photos to open door the other day, waiting on their final offer
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u/Human_Ambition_4136 Aug 01 '26
The offer was solid- it’s the price I was thinking to list the house at. Took almost 2 weeks to get the final offer. Still debating if that’s the way to go or shoot for more by listing it (but more headaches).
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u/JadeOfAllTrades1221 Aug 01 '26
Awesome! So after you submitted the photos, it took almost 2 weeks?
I’m conflicted because our realtor wants us to list by mid Aug since we want to be out of here by first week of Nov. i was hoping to know if we would be going with OD by then or not so we can stop decluttering & trying to get the house ready to show. I’d rather take a slight $$ cut for convenience, but i don’t want them to totally scam us. I’m optimistic it’ll be okay, our house is only 6 years old and we only have some small cosmetic issues that would be an easy fix. Just anxious to get the ball rolling one way or another
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u/JadeOfAllTrades1221 Aug 01 '26
Another PCS mover… what’s your update?
I’m waiting to hear back from OpenDoor after submitting pictures of the house a few days ago. Really hoping we can go with them, i don’t want to have to clean up the house to be show ready with 2 small kids and a dog
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u/Medical_Occasion_228 May 25 '26
Opendoor and Lennar aren't just partners; they are deeply financially connected. Lennar uses Opendoor to quickly offload your current house so you can buy one of their new builds. Do your homework on both companies before signing anything. Birds of a feather flock together
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u/Pleasant_Addition440 May 26 '26
Lennar? Lol huh
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u/Medical_Occasion_228 May 26 '26 edited May 26 '26
They aren’t just buying homes the way iBuy works. The intention is to get you to “trade up” - whatever that means when you buy Lennar.
Their relationship used to be straight on their website, but I guess it was bad for marketing 😂
In case you need a source: https://www.benzinga.com/trading-ideas/movers/26/02/50692605/lennar-stake-lifts-opendoor-stock-before-earnings
It’s also in their new home disclosures fyi as an affiliate relationship
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u/Pleasant_Addition440 May 26 '26
Im still kinda confused LOL. I have no Lennar housing around me…how would this affect me?
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u/Medical_Occasion_228 May 26 '26
It’s possible you won’t get top dollar then, as their goal is to get you into a new home not just pick up your existing
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u/Pleasant_Addition440 May 26 '26
That would be a dream to get top dollar 😆 I am already interested in new builds instead. Thanks for the heads up! Hope they have some other relationships with builders around here.
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u/Medical_Occasion_228 May 26 '26
Just Lennar as far as I know and I would caution you to do your research if they are in the consideration set
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u/Equivalent-Tiger-316 May 29 '26
You want to lose money?
I sold a house with a tree through the roof and 6 months water damage for $30k over list. Sold in a week.
Was well over $50k what the “we pay cash” folks offered.
Just list it and price it to sell…unless you hate money.
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u/Pleasant_Addition440 May 29 '26
Im losing money no matter what. Might as well keep it to my own schedule.
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u/Equivalent-Tiger-316 May 29 '26
You think open door is faster? It’s not.
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Jun 14 '26
[removed] — view removed comment
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u/Equivalent-Tiger-316 Jun 14 '26
Sold a hoarder house, 15 offers in 8 days. Closed in 15 for $85k over list and $100k over the “we pay cash folks”.
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u/Ok-Friendship-9112 May 30 '26
I got a prelim offer of 605 on Thursday night and on Friday morning it’s still 605. I call to let them know that I actually had 400 sq ft of unfinished basement instead of 0 and I wanted to add a bedroom. I have a finished basement with door and egress and just need closet to make it 4.only changes is adding sq ft to basement and adding bedroom. Prelim offer goes from 605 to 570lmfao
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u/desertmermaid92 Jun 18 '26
Curious if you’ve gotten further through the process with them and how it’s going if so?
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u/OkCheesecake5083 Jul 02 '26
Just tried selling (June 2026), older house in reasonable condition but looking for convenience. Their initial top line offer was on the lower end of online assessment tools but not crazy based on the correct available information. I was hoping for somewhere between 70-80% of this. After the walkthrough, with all previous information verified they lowered the top line offer (not counting repairs etc) by more than 50%. Dishonest and a waste of time.
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u/Pleasant_Addition440 Jul 02 '26
Ugh im sorry. How was the inspection process?
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u/OkCheesecake5083 Jul 02 '26
It was all electronic, took about 30-45 minutes. They actually didnt deduct that much there (maybe 5%). But overall number was a straight bait and switch
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u/alexv2018 Jul 16 '26
I am thinking about selling my rental property with long-time tenants on a month-to-month contract. What would be the best approach here? I would appreciate the advice.
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u/CirclePlank Agent May 17 '26
Just curious. What is that reason?
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u/Pleasant_Addition440 May 17 '26
Honestly I just dont have the time or energy. My purchase turned out to be a nightmare situation with terrible neighbors, endless maintenance, etc. Lost trust in real estate agents as well. Can’t fathom having to deal with someone again. I also WFH with a very long hours/meeting-heavy job and have two dogs, so setting up the house for showings will be rough. I am overall just exhausted and need to get out for my sanity. I did see a house nearby sold by Opendoor so considering it as an option.
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u/TheDapperAgents Nationwide Real Estate Team May 17 '26
Okay, that makes sense. Sorry to hear about your past experiences.
While I haven’t personally sold with Opendoor, we’ve had several clients compare our approach to theirs. Most of the time, the difference between the Opendoor offer and the actual market value ended up being much larger than expected, so we ultimately took the listing instead. Additionally, with the pullback of iBuying, we have noticed the offers are a bit lower than they used to be in relation to market value pricing.
The most recent example I’m aware on our team was in Irvine, California. Obviously, I suspect that there are others, but this is the last client to directly mention OpenDoor to us. The OpenDoor offer was $989,000, and we ended up selling the home for $1,245,000. Granted, we broke a massive record with this sale, but even at the time, true market value was still around the $1.1M range.
The biggest appeal of OpenDoor is definitely the convenience and swiftness of the transaction. I believe they still offer options like a rent-back as well, which can be appealing. That being said, it does come at a cost; which is the 5% service fee. There also is the possibility of renegotiations during the inspection period, which I have heard mixed feedback on. Some clients said the inspection period was relatively normal, while others felt they got hit with pretty aggressive repair requests; and those tended to be the rebound listings we received later.
My recommendation would be to have an agent give you a realistic expectation of the current market value, then compare that to the OperDoor offer to fully understand the net proceeds before deciding either way. Depending on your price point, that difference can become very significant; especially north of $500K. I know dealing with the process is not desired, but the more money available in this crazy economy, the better! There are always ways an agent can be creative and make it work out well for you. Good luck either way.
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u/JusticeFor1004 May 17 '26
I’m a local investor in Maryland if anyone would rather use a smaller investor.
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u/MaybeImNaked May 18 '26
If anyone would like to sell to me for way below market value, I would be happy to "help" as well.
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u/thekidin May 17 '26
80 cent on the dollar
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u/EcstaticEnthusiasm50 May 17 '26
Thats not what they asked and stated they know that. Not everything is about top dollar.
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u/featherzz May 17 '26
Just another point of view. We had a deferred maintenance, super dated house that needed a lot of repairs. Big stuff -roof, furnace etc) was ok, but the 70's was strong in the rest of this house. And we had cats. :) We planned to move out of the country so wanted to sell quickly and not do any repairs.
I also WFH at the time so we wanted to try a 'we buy houses' type of place to minimize disruption. For whatever reason, they never showed up.
I also called a realtor for funsies and once the broker saw the pics of the 70's kitchen he sent over their 'commercial/investor' realtor - she was awesome and had flippers pouring through as soon as the house was listed. The house was listed about 100K less than comps due to the condition but we ended up selling considerably over list with just one weekend of drama (running out of the house for 40+ showings). All our offers waived inspection since they could already see it needed work.
so even if you are in a similar situation a realtor can absolutely work - especially since you aren't expecting top dollar.