As an iBuyer, Opendoor makes quick, all-cash offers on homes and gives sellers the flexibility to choose their own closing date.
However, Opendoor's convenience comes with financial trade-offs that may not make sense for all sellers.
- Opendoor charges sellers a 5% service fee for cash offers, plus typical closing costs of about 1%.
- Opendoor also deducts the full amount for any repairs or touchups it thinks your home needs — meaning your final payout could be significantly lower than your initial offer.
Perhaps the biggest expense to consider when selling to Opendoor is the lost profit potential that comes from selling to an iBuyer vs. putting your house on the market.
- While Opendoor once had a reputation for full market value or more, a more recent analysis of 400+ Opendoor listings found that Opendoor paid sellers an average of 9% less than the resale value of their homes — equaling a loss of about $45,000 on a $500,000 house, not including repairs or service fees.
Most sellers who request an offer opt not to sell to Opendoor. Despite receiving an offer request every 60 seconds (525,600 per year), Opendoor purchased just 14,684 homes in all of 2024.
- Before accepting Opendoor's offer, be sure to have an accurate idea of your home value. That way, you'll know exactly how much money you're leaving on the table. You should also look at offers from a few iBuying competitors to make sure you're getting the best possible terms.
- To save yourself some time, we recommend starting with a free offers marketplace like Clever Offers. With Clever, you can compare cash offers from iBuyers and investors. You can also test the waters with a no-obligation 7-day MLS listing — allowing you to see what a wider range of buyers would pay for your house as is, without the commitment of a lengthy listing agreement. Answer a few quick questions to start comparing offers.
What fees does Opendoor charge?
Opendoor's fees depend on the path you take to sell your home: A straight cash offer or a traditional listing using Opendoor's offer as a backup.
💰 Service / listing fees
Opendoor charges a flat 5% service fee for its cash offer program — comparable to a standard realtor commission, albeit with less negotiating power.
For sellers who opt for traditional listing with Offer Lock, you'll pay the commission rate set by your listing agent. By industry standards, sellers typically pay 6% — with 3% going to their listing agent, and 3% offered as a concession to the buyer's agent. However, realtor fees are negotiable.
🛠 Repair costs
Opendoor's repair costs can be a significant expense and, unfortunately, they vary a lot. While it’s difficult to predict exactly how much Opendoor will charge you for repairs, sellers we've talked to have been charged anywhere from 1-3% in repair fees. Some past customer reviews note repair deductions of $30,000 or more.
Repair costs are taken as a closing cost deduction, so they won't be reflected in the sale price. And some sellers complain that Opendoor doesn't actually make the repairs it charges you for.[1]
🏦 Closing costs
Closing costs vary by transaction but are typically 1-3% of the home sale price — the same as you'd pay in a traditional home sale.
Standard closing costs include attorney fees, title insurance, transfer taxes, HOA transfer fees, and prorated property taxes.
⏳ Late checkout
If you need to stay in your house past the close date, you pay a daily "late checkout" fee of about $100-400 per day based on your home's market rental value. Opendoor also withholds a $2,000 security deposit from your sale proceeds until you move out.
💯 Total fees
Opendoor’s total cash offer fees add up to around 6–8% ($30,000–40,000 on a $500,000 house), plus variable repair costs. You'll also pay late checkout fees of $100–400 per day if needed.
Listing with Opendoor costs an estimated 7–9% of the home sale price ($35,000-45,000 on a $500,000 house, not including any repair credits or closing cost concessions you negotiate with the buyer.
Opendoor fees on a $500,000 house
Here's how Opendoor's fees break down on a $500,000 house:
| Opendoor cash offer | List with Opendoor | |
|---|---|---|
| Service / listing fee | $25,000 (5%) | $30,000 (6%)* |
| Closing costs | $5,000-15,000 (1-3%) | $5,000-15,000 (1-3%) |
| Repairs | Vary (mandatory based on inspection) | Vary (negotiated with buyer) |
| Late checkout (optional) | $100–400/day + $2,000 security deposit | N/A |
| Total estimated costs | $30,000-40,000 (6-8%) + mandatory repair costs | $35,000-45,000 (7-9%) + negotiable repair costs |
Are there hidden costs when selling to Opendoor?
Opendoor doesn’t charge hidden fees. The company discloses them publicly on its website and documents its process for determining offer amounts and assessing repairs. However, its final offers can be dramatically lower than its preliminary offers.
As one reviewer who got a quote from Opendoor in July 2023 explains, “Initial offer $750k. Did video walkthrough and physical walkthrough. Final offer $640k, and $30k in repairs on top of that.”
These lower offers can be upsetting for sellers who expect the final offer to be close to the preliminary one. In fact, some sellers may have even taken steps to move based on their preliminary offer, such as arranging a move-in date for their new home.
One Reddit user put it this way: “iBuyers will make you a nice offer, so you put plans in motion. Then they'll come back and ask for significant discounts.” By the time you get to the inspection and your final offer, it may feel harder to walk away.
That said, you're free to cancel your transaction with Opendoor at any time for no cost. If Opendoor doesn’t meet your expectations, get offers from competing iBuyers. Or you can choose to list with a realtor instead, which will likely get you the most money for your sale.
Compare fair cash offers from iBuyers and investors to the sale price you'd get with an agent.
Opendoor fees vs. typical realtor costs
Opendoor fees vs. realtor commission
Opendoor’s fees are similar to the realtor fees you'd pay in a typical home sale, although working with a discount broker can typically lower your listing costs by as much as half.
Even so, you're likely to net a lot less selling to Opendoor due to a combination of repair costs layered onto an already below-market offer.
Repairs credits vs. seller concessions
Redfin data shows that less than half of home sellers currently offer repair and other closing cost concessions to a buyer.[2] Instead, the onus is on the buyer to submit a repair request based on their home inspection, and sellers can either negotiate or reject the request completely. With Opendoor, a deduction for the entire repair amount is automatically built in to your final offer, and it's up to you to prove anything that seems off in their assessment.
Missing hardware on cabinets, chipped countertops, and bold accent walls that might need to be repainted are all examples of items Opendoor would charge a repair credit for[3] — whereas traditional buyers would most likely let these items slide.
Opendoor price vs. market value
The other major difference is that while listing with a realtor will likely net you fair market value, Opendoor’s offer will be less.
- Our analysis of 409 recent Opendoor transactions found that sellers were paid an average of 8.79% less than Opendoor eventually resold their homes for — with approximately 18% of sellers losing out on potential profits of 15% or more.
Research by real estate analyst Mike DelPrete also shows that Opendoor has significantly scaled back the competitiveness of its offers in recent years. One example is a home estimated to be worth $587,242 on Zillow that received a preliminary offer of just $538,300 from Opendoor.
Opendoor fees vs. realtor fees on a $500,000 house
Here’s how the fees and estimated net profit on a $500,000 house breaks with Opendoor vs. selling the traditional way:
| Opendoor cash offer | Traditional realtor | Low commission realtor | |
|---|---|---|---|
| Estimated sale price | $459,600* (91.2% of market value) | $500,000 (market value) | $500,000 (market value) |
| Service fee / commission | $22,980 (5%) | $12,500-15,000 (2.5–3%) | $5,000–10,000 (1–2%) |
| Repair costs / concessions* | Based on Opendoor's inspection | Negotiable | Negotiable |
| Closing costs | $5,000-15,000 (1-3%) | $5,000-15,000 (1-3%) | $5,000-15,000 (1-3%) |
| Estimated net proceeds | $421,620–436,620 (before repair charges) | $455,000–470,000 (before concessions) | $475,000–490,000 (before concessions) |
Opendoor fees vs. competitors'
Opendoor vs. Offerpad: Opendoor's main competitor, Offerpad, charges an estimated 8% service fee for its cash offer, compared to Opendoor's 5%. Additionally, an internal analysis of more than 500 Opendoor and Offerpad listings showed that Offerpad typically paid less for homes and earned higher profit margins than Opendoor (14% vs. 9%). However, Offerpad was also more than twice as likely to sell homes at a loss (20% vs. 9%), indicating greater pricing variability.
Opendoor vs. local investors: Local 'we buy houses' companies typically don’t charge service fees or closing costs. However, they often pay 20–40% below market value, so they’re not necessarily a better deal than Opendoor. However, they're more open to buying homes that need a lot of work. Local cash buyers can also provide more tailored solutions when you're in a financial jam. For example, if you're under water on your mortgage, some investors may be able to offer creative financing solutions that give you a higher payout over time.
Opendoor vs. discount brokerages: Low commission brokerages can list your home for as little as 1-2% of the sale price while still providing a full-service listing experience. There's no need to work with a specific agent to request an offer from an iBuyer, so this can be a great option for testing the market while keeping an iBuyer's offer in your back pocket.
Opendoor vs. Clever Offers: Rather than one take-it-or-leave-it cash offer, Clever Offers lets you compare multiple offers from local investors, iBuyers, and more. Clever can also pair you with a top local listing agent to explore a short-term MLS listing without long-term commitment.
Bottom line: Are Opendoor fees worth it?
Opendoor fees may be worth it if you’re willing to sacrifice a higher selling price in order to sell quickly and with fewer hassles than a traditional home sale.
As one homeowner who was considering using Opendoor put it, “I’m looking to close 3 weeks from now and am okay losing a little bit of equity in the process.” If you’re likewise pressed for time or don’t want to deal with showings, Opendoor may be a good option.
Before making a decision, compare your options, including selling with a low-commission realtor. The best companies offer the same service as you'd expect from a top brokerage but at a much more competitive rate. You can even negotiate a shorter listing period with a realtor to see how quickly your house could sell, and then use Opendoor's offer as a backup.
Even if you decide that a cash buyer is right for you, Opendoor isn’t always the best option. You should see what other cash offer companies and investors are available in your area to make sure you get the best deal possible.
A simple way to compare offers is with a free service like Clever Offers. Clever gathers competing offers on your behalf from reputable iBuyers and investors. You also get a professional estimate of your home value — so you can weigh offers against your potential listing price. Clever won't sell your information or charge you hidden fees. You can start here to compare offers without obligation.
FAQs
Does Opendoor charge hidden fees?
Opendoor doesn't charge hidden fees. However, its final offer may be substantially lower than its preliminary offer. Repair costs can also be very difficult to predict and can end up taking a large chunk out of your final sale proceeds.
Does Opendoor pay closing costs?
No, when you sell to Opendoor, you'll still need to pay standard closing costs, such as title insurance, transfer taxes, and prorated property taxes. Closing costs are usually around 1%, but may be as high as 3%.
Is Opendoor's price negotiable?
Opendoor's price is usually non-negotiable. However, if you believe they've missed something important in their assessment of your property value or you've found another iBuyer willing to offer more, Opendoor may be open to adjusting their offer.
Why would you sell to Opendoor?
Opendoor offers a flexible closing window of 14–60 days and allows you to skip the hassles of a traditional sale, like home prep and showings. The fees are also comparable to what you'd pay by listing with a realtor, although youll sell for less overall with Opendoor. Many people feel the convenience of selling to Opendoor is worth the lower sale price.
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