Search results
What is the 5% charge for working with Opendoor in my final offer? When you sell a house the traditional way, there’s a lot of unanticipated costs and stress. You typically have to make some updates and repair things, paint, landscape, stage the home, and more.
- How Much Are Opendoor Fees?
- Opendoor vs. Realtor Fees
- Opendoor Fees vs. Competitors
- Does Opendoor Charge Hidden Fees?
- Bottom Line: Are Opendoor's Fees Worth paying?
When you sell to Opendoor, you pay a 5% service fee, plus the typical 1% in closing costs. Closing costsinclude title fees, transfer taxes, and prorated property taxes. You also pay for any repairs that Opendoor thinks are necessary after its home inspection. Repair costs can vary widely from seller to seller. We talked to Opendoor customers who pa...
Opendoor's 5% service fee is comparable to the 5–6% realtor commission you’d pay in a traditional home sale — although you can generally save a lot on realtor fees with a reputable low-commission brokerage. However, the most important factor isn’t fees, but the overall profit you’ll get from your home sale. You’ll usually make more money selling wi...
Opendoor’s main competitor is Offerpad. Offerpad charges a 5% service fee in line with Opendoor's 5%. But whether you'd sell for more with Offerpad or Opendoordepends on your situation, including repair costs. We talked to Bradley Carpenter, a seller in Kansas City, who got offers from both companies. He told us, “Offerpad's initial offer was highe...
Opendoor doesn't have hidden fees. The company prides itself on transparent pricing. However, repair costs might be significantly higher than you anticipated — and Opendoor's final offer could be much lower than your original estimate. This situation is mentioned in several Opendoor BBB customer complaints. For example, Jesse Zappia told us that Op...
Whether Opendoor's fees are worth it depends on how much profit you're willing to sacrifice in order to avoid the traditional listing process. Jesse Zappia, who sold his home to Opendoor in 2022, said this about the trade-off: "We were in a position where taking ... less money was worth it for us. If you go in with that mindset, it's great. But if ...
Jan 12, 2024 · Opendoor fees vs. competitors’ Opendoor’s fees are similar to what competitors, such as Offerpad, charge. Both Offerpad and Opendoor have a service fee of 5%. However, while Opendoor charges a daily fee if you want to stay in your home after closing, Offerpad does not. On the other hand, Offerpad charges a 1% cancellation fee, while ...
Oct 2, 2024 · Your final offer will reflect Opendoor’s offer price minus its service fee (5%), variable repair cost deductions, and standard seller closing costs (usually about 1%). For example, Bradley Carpenter, who sold his house to Opendoor in 2022 for $230,000 was charged a $11,500 service fee, $7,000 in repair costs, and standard closing costs (a little less than 1%) assessed by the title company.
- (2.3K)
- Yes, Opendoor offers are legitimate. It's the largest iBuyer in the U.S., operating in more than 50 cities. Opendoor provides quick, all-cash offer...
- Opendoor says it is willing to negotiate by phone or email until an agreement is reached, but you'd need to show that the company made a significan...
- Selling to Opendoor is worth it if you’re comfortable handling everything online in exchange for a quick sale. You'd likely pocket more money by wo...
Our experts can walk you through how Opendoor is different and help you decide if it’s right for you. Call 888-352-7075 or email at support@opendoor.com. Call us.
- 1 Post St, Fl 11, San Francisco, 94104
Sep 22, 2024 · Factoring in Opendoor's 5% service fee, sellers paid an average premium of more than 10% for the convenience of selling to Opendoor. That's on top of repair deductions and closing costs. However, we also found evidence that Opendoor paid more than market value for certain homes. Roughly 1 in 5 properties (22%) we analyzed sold for less than ...
People also ask
How much does Opendoor cost?
Does Opendoor charge a service fee?
Do you have to pay closing costs if you sell to Opendoor?
Does Opendoor charge a commission?
How much does it cost to sell a house to Opendoor?
How much did Opendoor charge for repairs?
Here’s what’s inside: Simple Sale charge (5%): For the premium service of selling your home with no staging, showings, or open houses. You’re paid in cash and choose your closing date. We charge 5% for every home we buy. Condition adjustment: These costs vary depending on the condition of the home. We deduct costs for anticipated repairs ...
