Why does Opendoor buy your home?
Opendoor is a company that buys properties below market value, then completes repairs to sell for a profit.
How does it work when you sell to Opendoor?
Step 1. Opendoor sends you an offer and from the offer Opendoor deducts their fee. Their fee is usually 7.5-8.5% of the purchase price.
Step 2. You coordinate a home inspection with Opendoor. They send out one of their home inspectors to review your home’s condition and find needed repairs. If you made a mistake on the condition questions you were originally asked prior to getting the offer, an adjustment will be made.
Step 3. Several days after the home inspections are completed, Opendoor will put together a report of the repairs they require to sell the home again. You have the option of making the repairs they have asked or they will deduct the cost of the repairs from the offer so you don’t have to do the work yourself.
Step 4. At this point you either cancel the agreement with Opendoor if you are not satisfied with the repair cost, or if you agree-> you move forward towards selling the home to Opendoor.
Francesca Hamilton, an experienced agent working with Opendoor, gives free advice to sell your home in its current condition, but please be sure you do not contact Opendoor without speaking to her first.
Fill out the form below or call (480) 382 – 8514 and leave a voicemail. This is the first step in selling your home for the most money possible and there is no obligation.
The best part, if you don’t get a good price from Opendoor or other companies she provides you, Francesca will sell your home on the MLS, in AS IS condition without repairs. You have options!
Francesca makes the process stress-free and easy for her clients while getting them the best deal out there.
Does Opendoor pay closing costs?
No, Opendoor does not pay for closing costs. You pay for both sides of the closings costs. In a traditional sale on the MLS, usually the buyer pays for their own closing costs.
What types of properties does Opendoor buy?
Opendoor will buy homes that are valued at $500,000 or less. Opendoor buys condos, townhomes and single family homes. If your home is valued at more than $500,000 there are other companies that will buy it quickly, just call Francesca at (480) 382 – 8514.
Does Opendoor have an inspection or ask for home repairs?
Yes, after you have accepted the Opendoor offer and review the Opendoor fee (which is deducted from the sales price), a home inspection will be scheduled that is exactly like a regular home inspection and can include additional inspections of the pool if you have one, roof system, HVAC, etc.
Does Opendoor pay a fair price?
Yes, the purchase price they offer is usually a decent price however they charge a 7.5-8.5% service fee deducted from the offer, then they complete a home inspection and deduct money towards repairs.
The reason to use Opendoor is if you need to sell quickly, and you do not want to hassle with showing your home. But, there are ways to get more money from Opendoor for your home.
What should I do to get my home ready for Opendoor?
Call (480) 382 – 8514 to learn about what you need to do before you contact Opendoor.
How long does it take for Opendoor to buy my home?
The good thing about Opendoor is they are qualified buyers who have the money to purchase your home. If you approve of their offer, service fee and repair cost, you can close with Opendoor in as little as 21-30 days. Once you close, the money you made goes into your bank account or you can pick up a check.
How much does it cost to sell to Opendoor?
Total cost to sell to Opendoor is the service fee of 7.5-8.5%, the repair costs and closing costs. The repair costs are calculated after the home inspections are completed by Opendoor. You do not have to pay for the home inspections, Opendoor staff and vendors complete the inspections.
Which company will pay the most for my home?
All of the companies are different but they use the same data: homes recently sold and current homes for sale in your neighborhood. Some companies pay more and are willing to take more risk. Prices and fees are similar between the companies you see on TV and online. (Beware of “cash buyers” or your neighbor who may pay much less than what your home is worth.)
Will Opendoor pay more than a flipper?
In many cases, because of the way Opendoor is organized they will pay more than flippers, however, after they deduct their fees and repair costs it can sometimes be the same as what a flipper would pay you.
Is Opendoor like Zillow, Redfin, Knock, We Buy Ugly
Houses and Offerpad?
Yes, Opendoor is similar to those other companies you see on TV and online.
Can I cancel selling my home to Opendoor after I start the process?
Opendoor wants you to have a good experience and if you do not want to move forward with the sale, Opendoor has very lenient cancellation policies. If you do something to your home without Opendoor’s knowledge like post it online for sale, they may cancel the contract on you as well.
Should I have an agent when working with Opendoor?
Absolutely! Without an agent you do not know if the price Opendoor is paying is fair market value. Do not use Zillow or Redfin as your evaluation for your property value as they are inaccurate. Think about it: how does a computer know what your home is actually worth?
By the time Opendoor takes out their 7.5-8.5% fee and deducts money for repairs the money you make can be less (up to $100,000) than what you would make if you sold it regularly. Do not contact Opendoor without talking to a Francesca first as she is experienced working with Opendoor and similar companies.
I guarantee, you will have more money in your bank account after you sell your home if we work together.
– Francesca Hamilton | 50 States Realty | Experienced with Opendoor
Cell: (480) 382 – 8514 E-mail: [email protected]
Areas we serve: Avondale, Buckeye, Carefree, Cave Creek, Chandler, El Mirage, Fountain Hills, Gilbert, Glendale, Goodyear, Guadalupe, Litchfield Park, Mesa, Paradise Valley, Peoria, Phoenix, Queen Creek, Scottsdale, Surprise, Sun City, Tempe, Tolleson, Wickenburg and Youngtown.
Francesca Hamilton does not work for Opendoor.