For home sellers who value a quick and easy home sale, Opendoor offers an appealing solution: Sell your home for cash in as little as 14 days — no repairs, showings, or appraisals required.
However, if you’re considering selling to Opendoor, it’s essential to weigh the convenience against the potential financial downside.
Our team's analysis of more than 200 recent Opendoor purchases revealed that the company typically resold homes for about $23,000 more than it paid. Sellers also faced additional service fees and repair deductions.
Whether selling to Opendoor is worth it depends on your priorities: speed and flexibility vs. maximum profit. If you’re considering selling to Opendoor, we recommend requesting a comparative market analysis from a realtor and reaching out to a few other cash buyers to see what they'd pay. That way, you'll know exactly how much money you'd be leaving on the table with Opendoor.
A free service like Clever Offers can save you a ton of time assessing your current home value and gathering competing offers — which is why it's our top-rated iBuying competitor. Compare cash offers worth up 100% of market value and sell in as little as 7 days.
Are Opendoor offers good?
During the pandemic, when real estate prices were rising rapidly, Opendoor gained a reputation for offering close to or even more than fair market value for homes.
However, an analysis of more than 200 homes bought and sold by Opendoor within the past two years shows that the company is now paying significantly less. From January to September 2024, for example, Opendoor paid home sellers an average of 93% of their home's eventual resale value, down from 95% in 2023.
Average Opendoor purchase price vs. resale price
| 2024 | 2023 | |
| Avg. Opendoor purchase price | $536,922 | $539,801 |
| Avg. resale price | $567,307 | $558,901 |
| Avg. price difference | $25,235 | $19,100 |
| Avg. % market value paid by Opendoor | 93% | 95% |
Customer testimonials show mixed sentiments regarding Opendoor's offers.
For example, a recent home seller on Reddit claims the company offered 15% below market value for their home, even though it was in turnkey condition and in a prime location.
However, others mentioned offers that were even better than what the market supported. "In my case," said another Reddit user, "Opendoor paid me about 20% more than what they eventually resold my house for a few months later."
Our own analysis revealed that, while a majority of home sellers take a financial hit when selling to Opendoor, approximately 15% of sellers got MORE for their homes than Opendoor later resold them for in 2024. So if you're curious what Opendoor would offer for your house, it doesn't hurt to test the waters.
You can usually have a preliminary offer in hand within 24–48 hours of requesting one on Opendoor's website — with no obligation to accept it. Just keep in mind that you'll also pay service fees and repair costs.
Before accepting an offer, your best bet is to compare it with offers from Opendoor's competitors, which is the only way to be sure you're getting a fair price.
How Opendoor offers work
Opendoor’s offers are based on a variety of data points, including what similar homes are selling for in your area. They also consider how much risk a property presents based on current market conditions. For example, if prices are rising, the company may be more willing to make a higher offer.
Details about your home that you submit during your offer application are also taken into account. Special features and upgrades, such as renovated kitchens and bathrooms, can make a difference. Opendoor recommends sending photos with your offer request to show these upgrades, which can help push your offer higher.
When you request an offer on opendoor.com, Opendoor will send you a preliminary offer within 24–48 hours. If you decide to move forward, Opendoor will conduct and inspection and deduct its estimated repair and selling costs to come up with a final offer amount.
Your final offer will reflect Opendoor’s offer price minus its service fee (5%), repair deductions (amount varies), and standard seller closing costs (usually about 1%).
For Bradley Carpenter, who sold his house to Opendoor in 2022 for $230,000, Opendoor's charges added up to $11,500 in service fees, $7,000 in repair costs, and closing costs of about $1,800.
Example Opendoor offer
| Estimated home value | $420,000 |
| Opendoor purchase price | $399,000 |
| Service fee (5%) | $20,000 |
| Repair deductions (2.5%) | $10,000 |
| Closing costs (1%) | $4,000 |
| Net proceeds | $365,000 |
Because market conditions can change dramatically, so can Opendoor’s offers. For example, one Opendoor customer, who left a review on Trustpilot, got an offer she considered "fair" but had to delay selling. When she went back to Opendoor a month later, she said, "their other offer to my shock was $100,000 less and their excuse [was] market conditions."
“The highest I have seen an offer come in is about 88 to 90% of market value. And then they're typically looking for a 5% selling fee," San Diego-based realtor Dave Goodman told our team by phone. "Then they usually hit the seller up for about 2% in repairs — and that's even if there's even if there's not really 2% worth of repairs — so it ends up being 7%."
Is it a good idea to sell to Opendoor?
Benefits of Opendoor
- Flexible closing window of 14–60 days
- No need for repairs or showings
- Available in more markets than other iBuyers
Drawbacks of Opendoor
- Sell for less than market value
- Limited ability to negotiate
- Service fees and repair costs
- Strict purchase criteria
✅ Choose your own closing date
By selling to Opendoor, you get to choose your own closing date, which can be as quick as 14 days or as far out as 60. This flexibility is great if you need to sell fast or you’re concerned about lining up your closing with moving into a new home.
That convenience makes up for Opendoor’s lower offers for some sellers. For example, one Opendoor seller says, "You have to go in knowing you are taking a bit of a haircut off the top. For us it was worth it as we were able to get into our dream home."
✅ Skip the repairs and showings
Opendoor takes care of any repairs your house needs after you move out, so there’s no need for you to worry about them. Plus, you won’t have to worry about showings or staging your home, which can be highly disruptive during a traditional sale.
You will need to complete an in-person inspection, but our research shows that this is usually quick and may only include an exterior walkaround of your property. Depending on the inspection, your offer may also be reduced to account for any repairs Opendoor will have to complete after your sale.
✅ Available in many major cities
Opendoor is available in over 50 major metro areas, which is about twice as many as its leading competitor, Offerpad. This coverage makes Opendoor the most widely available iBuyer in the country.
This broad availability also ensures that you can usually compare Opendoor’s offer to Offerpad or other cash buyers. By comparing offers, you increase your chances of selling for a fair price and for the best terms.
❌ You’ll likely get less than market value
During the pandemic housing boom, Opendoor earned a reputation for paying incredibly high prices for homes. During the 2nd quarter of 2021, for example, real estate analyst Mike DelPrete revealed that Opendoor was paying an median purchase price of 107% of the estimated market value, since the rapid rise in home price appreciation usually meant they could sell them for additional upside.
However, more recent data tells a different story. Our team's analysis of more than 200 homes bought and sold by Opendoor since December 2022 revealed that the company has paid sellers an average of 5-7% less than their home's eventual resale price. That loss is on top of Opendoor's 5% service fee and variable repair costs, which are deducted at closing.
That said, offers from Opendoor tend to be higher than traditional "we buy houses" companies, which are usually around 70% of fair market value.
❌ Opendoor rarely negotiates
According to most sellers we've talked, Opendoor's offer is usually "take it or leave it."
That said, Opendoor may adjust its offer if you can prove that they missed something important during their home inspection. In rare cases, it may also be willing to match an offer from a competing iBuyer.
For example, Bradley Carpenter, a seller from Kansas City, told us that he was able to get Opendoor to increase their offer by $3,000 after showing them Offerpad’s initially higher offer.
❌ Service fees and repair costs can add up
Opendoor’s service fee is 5%, which is comparable to the realtor commission you’d pay in a traditional home sale. However, repair costs can be a significant expense and may lead to a significantly lower offer.
Repair estimates are difficult to predict. While some sellers have been quoted repair estimates as low as 1%, others have been charged tens of thousands of dollars for Opendoor. We have noticed that repair estimates have gone up over the past year or so, which is unsurprising given that Opendoor is more selective about the houses it buys now.
❌ Only certain houses are eligible
Opendoor is different from traditional cash buyers in that it will only buy homes in fairly good condition and in select markets. Homes will generally have to be newer, have no major foundational or structural issues, and be easy to resell. This means that the home can’t have tenants, flood zone risk, or title problems.
If you’re trying to sell a home in poor condition or you live outside of a major metropolitan area, Opendoor is unlikely to make you an offer. However, you could consider other cash buyers, many of which buy properties as-is, even those facing foreclosure or in need of major repairs.
How much are Opendoor fees?
Opendoor’s service fee is 5%, which is on par with other iBuyers. It's also on par with average real estate commissions — but more than you'd pay with a low-commission brokerage.
On top of service fees, you’ll also pay standard closing costs and variable repair costs. If you want to stay in your house past the closing date, you’ll need to pay a daily fee to do so, which is based on your home’s value.
There's no cancellation fee if you decide to back out before closing.
Here’s how the Opendoor's fees break down:
- Service fee: 5%
- Closing costs: ~1%
- Repair credits: Vary
- Late checkout: $100+ per day, varies
- Total: ~6%, plus repair and late checkout fees
How much does Opendoor charge for repairs?
Opendoor's repair estimates vary widely. Home sellers we've talked to have been charged as little as $7,000 in repairs while others have been quoted tens of thousands of dollars.
Issues with a home’s roofing, foundation, and HVAC system can lead to big repair charges. Opendoor will also consider issues with the exterior, such as trees/shrubbery touching the home, damaged eaves, or broken windows.
Interior issues like faulty kitchen appliances, leaky faucets, and damaged floors and walls can lead to additional repair deductions, as can older water heaters or circuit breakers and inadequate attic insulation, which can drive up utility costs. Finally, Opendoor lists pests and excessive debris as factors that can affect your repair charges.
While this criteria seems reasonable, in practice we’ve found repair estimates can vary a lot. Another problem is that sellers don’t always get an itemized list of repairs, which can make it difficult to judge if the estimates are fair.
Even when sellers are charged for repairs, those repairs aren’t always carried out. For example, one seller was charged $20,000 in repairs, most of which was for foundation issues. However, after selling to Opendoor, she says, "the house was relisted 10 days later with fresh paint and new carpet. [...] They didn't repair the foundation."
Opendoor alternatives
Opendoor’s cash offer can be a good option if your top priority is selling your house fast and for the least amount of hassle.
But if you’re looking to get the most possible money for your house, you should consider other options first.
Sell to another cash buyer
While Opendoor offers a convenient alternative to the traditional listing process, other cash buyers may be a better fit for your needs, especially if you:
- Have a hard-to-sell home, due to issues like deferred maintenance, problem tenants, or impending foreclosure
- Need cash from your current house to buy a new one
Like Opendoor, 'we buy houses' companies provide cash offers and a speedy closing. But unlike Opendoor, they'll purchase homes in just about any condition.
Because they target distressed homes that they can flip for a profit, they generally only pay about 70% of a property’s after repair value (ARV) However, these companies don’t charge service fees, closing costs, or repair credits. They’re also more widely available than Opendoor, which currently only operates in about 50 markets nationwide.
Local investors also purchase homes with the intention of flipping them for a profit, but are sometimes willing to offer more tailored solutions. For example, some investors may offer a novation agreement in which — instead of buying your home outright — they complete any necessary repairs before listing it on your behalf The then keep a percentage of proceeds at closing. This solution can work well if you have a home that needs updating and can’t afford the repairs upfront.
If your home is in good condition, and you're primarily concerned with cashing out your equity to purchase a new house, companies like Homeward and Knock are worth looking into. Their cash offer and bridge loan programs eliminate many of the stresses of trying to buy and sell simultaneously — all while letting you keep the upside from listing on the open market.
» FIND: The top cash buyers near you
List with a realtor
Listing your house on the MLS with a realtor is the best way to sell for the most money, with U.S. sellers currently earning an average sale price that's 5.3% greater than than the average listing price.
However, selling with a realtor can take longer than selling to Opendoor. Opendoor can close on a sale in as little as 14 days. And while an experienced realtor may also be able to help you sell your house fast, the current average time to close on a traditional listing is 85 days.
In terms of costs, listing with a realtor is similar to selling to Opendoor. Realtor commissions have historically been 5–6% for sellers, which parallels Opendoor’s 5% service fee. However, a 2024 lawsuit against the National Association of Realtors changed how real estate commissions were decided. Now buyers and sellers negotiate their fees directly with their agents.
Most buyers will still expect sellers to cover the cost of their agent through a seller concession. Sellers that don't offer a concession increase the amount of cash that a buyer needs to bring to the closing table — which may affect the number of offers you get for your house.
However, you can opt to list with a discount realtor, which could bring your listing agent commission down by as much as 50%. That allows you to save on fees while still selling your home for market value.
Closing costs and moving expenses are usually similar regardless of whether you use Opendoor or a realtor. However, repairs may be more when selling to Opendoor, given that they’re less likely to negotiate than a buyer who’s intent on purchasing the home or facing steep competition from other buyers.
Bottom line: Is Opendoor worth it?
Opendoor may be worth it if your top priority is selling quickly and not having to deal with the hassles of a traditional sale. With Opendoor you can close in as little as two weeks and you don’t have to worry about staging, repairs, or showings.
That convenience, however, comes at a cost. You won’t sell for as much as you would by listing on the open market with a realtor. If time is less of an issue for you and you want to sell for top dollar, you should consider using a real estate agent first.
If you decide to sell with a company like Opendoor, make sure you compare them with other cash buyers in your area.
To save yourself some time, we recommend using a free service like Clever Offers to compare cash offers worth up to 100% of your home value. An added benefit of working with Clever is that they provide a professional home valuation, so you can decide if taking the cash offer is worth potentially selling for less. You can request cash offers by filling out a short online form.
Opendoor offers FAQs
Can you negotiate offers with Opendoor?
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 significant error in its assessment of your home for it to adjust its offer. Learn how to compare Opendoor offers.
Does Opendoor pay closing costs?
No, when you sell to Opendoor you will still need to pay closing costs, which are usually ~1% for sellers. You will also have to pay Opendoors service fee of 5%, which is similar to the realtor commission you'd pay in a traditional home sale.
Why would you sell to Opendoor?
Opendoor may be a good option if your top priority is to sell quickly with as little hassle as possible. But that also means getting less for your house than you would by listing on the open market. If you want to sell for the best price possible or you have a home in need of significant repairs, you should compare their offer with alternatives.
How accurate is Opendoor's preliminary offer?
Opendoors preliminary offer may differ substantially from its final offer. Your final offer may be deducted to account for repair estimates, which can run into the thousands of dollars. As a result, you should expect your final offer to be lower than the preliminary offer and below market value.
Related reading
Are Opendoor Reviews Positive? Learn what Opendoor's customers are saying about the company and if its offers are fair or not.
Opendoor Preliminary Offer vs. Final Offer. Opendoor's final offer will be lower than your preliminary offer, possibly by thousands of dollars. Learn more about its process here.
What Is an iBuyer? Selling to an iBuyer like Opendoor can be convenient, but it also comes with a few drawbacks. Learn more about how iBuyers work and if you can trust one to buy your home.