If you’re looking for a hassle-free home sale, Opendoor — the nation's largest iBuyer — offers a convenient solution. With Opendoor, you can get an offer in just 24–48 hours and close in as little as 14 days. Its service fee of 5% is on par with realtor commissions, but your sale price will likely be lower than with an agent. You'll also be charged for repairs noted during the company's home inspection.
While many sellers find that Opendoor provides a convenient way to sell fast, others find the offer price doesn't justify the convenience. An internal analysis of more than 200 homes bought and sold by Opendoor since 2023 found that selling to Opendoor typically cost sellers about $23,000 in lost profit potential, on top of the service fees and variable repair costs.
If you’re considering selling to Opendoor, we recommend requesting a comparative market analysis from a realtor and reaching out to a couple of Opendoor's competitors to see what they'd pay. That way, you'll know exactly how much money you'd be leaving on the table with Opendoor.
An offers marketplace like Clever Offers can save you a lot 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 — with no added fees or obligation to move forward.
Opendoor at a glance
| ⭐ Customer rating | 4.2/5 (4,215 reviews) |
| 💲 Offer range | Well above average* (Likely 85%+ of potential market value) |
| 🤝 How it works | Submit your property information online and receive a preliminary cash offer within 48 hours. Sellers have the option to accept a cash offer or list with an Opendoor partner agent, using the cash offer as a backup. Final offer is contingent on an inspection, which can be done in-person or by phone/video. If you accept, you can choose your own closing window of 14–60 days. |
| 💰 Fees & other costs | 5% + repair concessions and closing costs |
| 🚦 Purchase criteria | Single-family homes, townhomes, and certain condos built after 1930, valued up to $600,000 ($1.4M in higher priced markets), maximum 1 acre lot (2 acres in some areas). Must be owner-occupied without any serious issues. |
| 📍 Availability | 50+ major markets in 25 states, including AL, AZ, CA, CO, FL, GA, ID, IN, KS, MA, MI, MN, MO, NV, NJ, NM, NY, NC, OH, OK, OR, SC, TN, TX, UT, VA, WA, and Washington, DC. |
*Based on an internal analysis of 217 homes bought and sold by Opendoor between December 2022 and September 2024
Who Opendoor works best for
Opendoor could work well for you if you:
- Need a fast home sale or flexible closing timeline
- Have a home in relatively good condition but want to avoid repairs and showings
- Are willing to take less than fair market value in exchange for selling your house as is
If you meet Opendoor’s purchase criteria, you can get a higher offer than investors typically pay and choose a closing date anywhere from 14–60 days from signing the contract. Just be prepared to accept less than market value for your house.
"If you’re in the situation where you need to have a sale that you can get a quick fire on, or need to move without having to make those repairs or worry about inspections and appraisals, [Opendoor’s] process really works," homeowner Jesse Zappia told us vi Zoom after selling his house to Opendoor. "But you definitely have to be cognizant of the fact that there is a loss associated with that."
Sometimes the loss in profit can be cushioned simply by shopping around for other offers. For example, another home seller, Bradley Carpenter, told us he was able to trim $3,000 in repair costs from Opendoor by showing them an alternative offer from its main competitor Offerpad.
How much does Opendoor pay?
"One of the clear disadvantages post-2020/2021 is you can expect [Opendoor] to give you a lower price than a traditional MLS listing," says a Reddit user who sold his home to the company in early 2024 for about $8,000 less than a realtor’s suggested price.
Another recent home seller said of Opendoor, "I didn’t expect anything ridiculous from them like last year, but they were almost 18% lower [than market value] with their cash offer."
Our own analysis of more than 200 homes bought and sold by Opendoor since 2022 also found that Opendoor pays less than market value — buying homes for an average of 6% less than it resells them for.
On a home purchased at $538,832 (the average paid by Opendoor among the homes we analyzed), that represents a loss of about $22,896 in potential profit for the home seller. That's on top of the 5% service fee and repair deductions already charged by Opendoor.
Average purchase price vs. resale price for recent Opendoor listings
| Avg. Opendoor purchase price | $538,832 |
| Avg. resale price | $561,729 |
| Avg. price difference (bought-to-resold) | $22,896 |
| Avg. lost profit potential | 6%* (not including service fees or repair costs) |
Opendoor fees and other costs
| 💰 Service fee | 5% |
| 🤝 Closing costs | ~1% |
| 🛠 Repair costs | Vary |
| Total | 7–10% |
Opendoor’s service fee is 5% of your home’s sale price (on par with the average real estate commission), but the total cost ranges from 7–10%+ when you include repair deductions and closing costs.
Repairs are typically one of the biggest costs associated with selling to Opendoor, but they can be especially difficult to predict.
For example, Jesse Zappia, who sold to Opendoor, paid 5% for the service charge, 1% for repairs, and about 1% for closing costs. He also paid a daily late checkout fee that allowed him to stay in his house after the closing date while waiting for his new home to close.
Another seller we spoke to, Bradley Carpenter, was quoted around $7,000 for repairs on a $230,000 home sale. That’s equivalent to about 3%.
We also encountered several Opendoor reviews that claimed repair costs ran even higher, sometimes over $30,000.
When comparing the costs of selling to Opendoor vs. traditional home sale costs, less than a third of recent home sellers made repair concessions to buyers — likely as a result of market conditions favoring sellers.[1]
Opendoor vs. competitors
Opendoor competitors include other iBuyers and "we buy houses" companies.
Both options can give you a cash offer within days. However, iBuyers only buy homes in good condition, and they offer closer to market value. "We buy houses" companies are more willing to take on homes in poor condition, but they rarely pay more than 60–80% of the home's post-renovation value.
Cash offer networks like Clever Offers help you gather offers from multiple competing buyers, while home trade-in services like Knock help you tap into your home's equity to purchase a new house before you sell — eliminating a lot of the headaches associated with timing a home sale and purchase.
Here are a few alternative cash buyers to consider while you evaluate your options.
» MORE: Looking for more cash buyers near you? Check out the best companies that buy houses for cash.
Opendoor vs. a realtor
Another option is to list on the multiple listing service (MLS) with a realtor using a cash offer as backup.
When you use a traditional real estate agent to sell your home, you usually pay 2–3% in listing agent commissions, 1–2% for repair credits and other buyer incentives, and another 1–2% for closing costs. You also may need to offer a concession for the buyer’s agent commission of around 2–3%. That’s a total of 7–11% to sell with an agent — right around what you would spend with Opendoor.
However, on the open market, you could sell your home for more than Opendoor offers, especially if multiple buyers make competing offers and drive up the purchase price. You’ll also have more control over negotiations than when dealing with a company like Opendoor — which can result in more money in your pocket. And if you work with a reputable discount broker, you can save significantly on listing fees.
"You’re going to get the most money when you have people competing with each other, and that’s going to happen when you list on the MLS," says Nashville realtor Barry Richards. "But you can use that iBuyer’s offer as a baseline."
» LEARN: Which companies offer the lowest real estate commissions?
Opendoor reviews and complaints
| Source | Average Rating | Review Count |
|---|---|---|
| BBB | 1.1 | 215 |
| 1.3 | 63 | |
| Reviews.io | 4.4 | 3,371 |
| Trustpilot | 4.5 | 492 |
| Zillow | 4.6 | 74 |
| Weighted Average: | 4.2 | 4,215 |
Opendoor reviews from customers are generally positive, with an average rating of opendoor/5 across 4,215 reviews.
But not all reviews for Opendoor are positive. In fact, the company has mostly negative reviews on the Better Business Bureau and poor-to-average ratings on both Google and Trustpilot.
Here are some common themes among Opendoor customers.
What customers like about Opendoor
✅ Smooth, hassle-free process (45% of reviews)
The most common positive theme found in Opendoor reviews is praise for smooth, hassle-free home sale process it facilitates. Home sellers also appreciate the flexibility provided by Opendoor, allowing them to choose their own closing data and even modify it if needed.
I did not have time for … showings, and all the things that go into that. Opendoor made it very easy to show my home, proceed through closing, and sell my home with minimal effort. … I was very pleased with the overall process, their professionalism, and the outcome.
— Brady, Reviews.io
I needed to move fast on a home purchase and the ability to pick a closing date and get paid to move into my next home was awesome.
— David Johns, Reviews.io
✅ Good communication and customer service (22% of reviews)
Customers also appreciate the support and communication provided by Opendoor's customer service team, which is described as professional and responsive.
My experience was pleasant from beginning to end. … They were professional and proficient. It took me one month to start the process and close. I would definitely recommend Opendoor.
— Michelle W., Reviews.io
✅ Competitive offers (22% of reviews)
The third most common theme among Opendoor sellers is competitive offers, which is mentioned in 22% of reviews. While home sellers often acknowledge that they could get more on the open market, they feel the offer is reasonable given the convenience and flexibility provided by Opendoor.
Opendoor made a respectable offer on our home which was the same price as what our house was appraised at by a professional the year prior. They deducted $23,000 from the offer for repairs, which for our 22-year old home without any updating, seemed like a fair price given that it would have cost much more had we actually paid for the upgrades ourselves. They keep a 5% fee which is standard for commissions on a sale. The Opendoor agent we worked with, *******, was very helpful and prompt in her responses. Also, the convenience of selling a home without showings was huge for us. They let us choose our closing date and allowed up to three days late checkout to move out after closing.
❌ Disappointment with final offers (19% of reviews)
One of the primary complaints among Opendoor reviewers is the significant price drop that tends to take place between Opendoor's preliminary offer and its final offer, which follows a home inspection.
Like many others on the site, I was given an initial quote that was around market value. Went through all the steps and when the final offer came in it was over $100,000 less than the initial amount. In my opinion, the company is participating in deceptive business practices. After doing some more research, apparently the company has already been sanctioned by the FTC for its practices.
— William Fife, Trustpilot
Final offer came in 30% lower then the preliminary offer. I told the guy to not waste my time if the final number was going to come in lower than the lowest number in the range they give you. He said that was very rare and most likely wouldnt happen. In the end, came in 30% below and was a total bait and switch.
— Chris H, BBB reviewer
❌ Excessive fees and repair costs (14% of reviews)
Home sellers also take issue with Opendoor's repair fees, which can subtract tens of thousands of dollars from the official sale price.
Not only was the final offer $10,000 lower than the initial, they added $50,000 in repairs and cited 'market conditions' as to why it was lower. I have been in real estate for 19 years, and I know what my property is worth. There are some repairs needed, but I could remodel my house to pristine condition for $50,000!!
— Robert B., Trustpilot
I have been working with OpenDoor to potentially sell my home to them. The initial "potential" offer was good, then they came back with an offer that was $40,000 lower, subtract the 5% surcharge,and the bogus $18,000 in repairs, and they wouild make over $120,000 on selling my home. My home is only 11 years old! We are the original owners. They told us we need a new roof, no one even got up on the roof and the roof still has about 20 years left on it. Most of the supposed "repairs" are bogus.
❌ Substandard flips on homes purchased from Opendoor (14% of reviews)
Positive Opendoor reviews from homebuyers are rare. Despite the fact that home buyers represent less than 20% of Opendoor reviewers, a full 14% of Opendoor reviews mention issues having to do with shoddy workmanship or undisclosed issues on homes purchased form Opendoor. Buyers also note Opendoor's unwillingness to negotiate repair costs or correct issues even after agreeing to do so in the purchase contract
We found issues with the home and sent a list to [Opendoor] of what needed to be completed prior to close, and they agreed. They still have not repaired the hole in the vent despite agreeing to this in writing and showing video proof and other items have not been done. We cannot get a hold of anyone including the sellers agent.
— Anonymous BBB reviewer
Buying from opendoor was the worst mistake I have ever made. The home is a money pit. After a year living in it, the walls in the showers have all caved in and there is rotting wood behind the tile. They used the cheapest contractors available to prepare the house before we purchased. Well those contractors filled the pipes with latex paint that was used on the bathtub, to cover rusted out spots. They took the cheapest route to trick me into thinking the home was in decent shape. I now have no place to shower and the repairs will entail a full remodel down to the studs. The main water line busted 6 months in, cost over 2 grand to fix.
— Amber Tonry, Trustpilot
How does Opendoor work?
Sell to Opendoor | Offer Lock | Buy from Opendoor
You can sell your home to Opendoor using the company's iBuying service, or you can list with an Opendoor agent and use its cash offer as a backup. Its cash offers are guaranteed for 30 days.
You can also buy a home directly from Opendoor or buy a home on the open market with one of its agents.
If you sell to Opendoor, the entire process (from getting an offer to closing) can take just 14–60 days. If you buy from Opendoor, you can close in 14–45 days.
Selling to Opendoor
Getting an offer from Opendoor
To request an offer, fill out the form on Opendoor’s website. You provide your address, a photo of your home, and some basic information about your property’s size, condition, and features.
Opendoor then evaluates your home. If your property qualifies, it provides an offer within 48 hours. After it completes an inspection, you receive a final offer that includes deductions for repairs.
You can try to negotiate your offer with Opendoor. But the company isn't likely to change the offer unless it missed a big selling point or made an error in the local real estate market valuation.
Opendoor’s inspection
If you accept Opendoor’s initial offer, then you move to the inspection process. Opendoor asks you to provide a virtual walk-through of your home’s interior. The company sends an Opendoor Estimator to evaluate your home’s exterior.
The in-person inspection takes around 30 minutes. Opendoor says it looks for things that are broken, in poor condition, or safety issues — not for areas to upgrade.
After the walk-through, Opendoor gives you an estimate of repair costs in 5–7 days. The company deducts the costs from your net proceeds, then makes all the repairs after you close. You can cancel your contract after reviewing the repair costs if you feel Opendoor's offer isn't worth the tradeoffs.
Opendoor's preliminary offer vs. final offer
Opendoor's final offer can be much lower than its preliminary one, often because the final offer includes deductions for estimated repair costs.
In online reviews, some customers reported that repair costs were higher than they expected and that Opendoor sometimes didn’t make those repairs before flipping the home.
For example, one reviewer was charged $23,000 in repairs, mainly for a new AC system. Afterward, she said, "I looked at my former home on Zillow because I wanted to see what repairs were done. They did not replace the AC system or the roof which would have justified the $23,000."
Additionally, Opendoor doesn't seem to allow negotiations over repairs or let sellers make the needed repairs themselves. Jesse Zappia explained, "My understanding was it was take it or leave it."
Other competitors, like Offerpad and buyers on the open market, let you hire your own contractor to pay for repairs, allowing for a little more control and transparency.
Accepting the offer and closing
Opendoor's final offer typically expires after seven days, although if you schedule a call they’ll extend it to 14 days. To accept the offer, you sign the purchase agreement and pick a closing date within 14–60 days. Or, you can reject the offer and walk away without penalty.
On closing day, Opendoor will transfer the funds to your mortgage lender to pay off your existing mortgage. Any remaining funds are then wired to you within a few days — sometimes hours.
You have the option of staying in your house for up to 17 days after closing. But unlike other iBuyers, Opendoor charges a daily fee for that privilege, equivalent to the market rental rate. Therefore, the fee will vary depending on your home’s value.
Offer Lock
Offer Lock combines Opendoor’s iBuyer service with a traditional home sale. You get a cash offer from Opendoor, just like you would with its main iBuying service, but you can then "lock in" this offer for 30 days. Usually, Opendoor offers expire after seven days.
During those 30 days, you list your house on the open market with either an Opendoor Brokerage agent or one of Opendoor’s partner agents. You can't use your own agent — which means you won't be able to shop around for lower commission rates.
By listing on the open market, you could end up with a higher sale price than Opendoor's cash offer. But if your house doesn’t sell after 30 days, you can fall back on Opendoor’s offer.
If your home sells on the open market, you'll pay the standard listing agent commission, which is typically 2–3%. The buyer may also request that you pay a concession to cover their buyer agent's commission and any repair costs negotiated during the inspection period. You'll also pay standard closing costs.
Offer Lock is available only in select markets.
Buying from Opendoor
If you're a buyer and want to work with Opendoor, you can:
- Buy directly from Opendoor via the Opendoor app
- Work with an agent to buy an Opendoor listing
In select locations, the company offers Opendoor Exclusives, where you can buy off-market homes at lower prices before they go public. This advantage lets you avoid bidding wars with other buyers in hot housing markets. The exclusive price is available for 14 days.
Opendoor used to offer a 90-day buyback guarantee, but has since changed its terms and conditions to specify that buyers agree to purchase Opendoor homes as is, without any warranties as to its condition.
If you buy a home directly from Opendoor, be aware that the list price may be higher than you expect for your area, a common complaint among buyers who have toured Opendoor homes. Moreover, Opendoor may be reluctant to negotiate.
"We see a lot of [Opendoor homes] that seem to be really overpriced," Nashville-based realtor Barry Richards told us during an interview. "And they seem to just have a system of systematically dropping the price until they hit the sweet spot. They don’t tend to negotiate much on whatever current price they have."
In our own analysis of Opendoor properties, we found that homes sold by Opendoor in 2023 sat on the market for an average of 70 days after a price drop of $39,003 (6.41%) from their original list price. However, in 2024, Opendoor's average price cut has dwindled to just $21,786 (3.76%) after an average 43 days on market.
For comparison, the typical home sold in the U.S. spends about 57 days on the market and sells for 6.9% greater than than the listing price.
Low-quality repairs tend to be the norm
In many online Opendoor reviews, buyers state that Opendoor didn’t make promised repairs or made low-quality repairs, leaving buyers to redo them.
On Trustpilot, reviewer Alyson Elizabeth concisely sums up this common complaint among Opendoor buyers:
"Very cheap fixing of a house, covering up foundation problems. Cheap flooring, half ass fixtures put on backwards, carpet flooring with no padding underneath, just half-ass work done. Won't ever buy again from Opendoor."
If you buy from Opendoor, hire a thorough home inspector and consider purchasing a home warranty.
What kinds of homes does Opendoor buy?
Opendoor doesn't make an offer on every home. The company is typically only interested in buying homes that meet specific criteria.
| 🏠 Home types | Single-family homes, townhouses, duplexes (select markets), condos (select markets) |
| 💰 Value | Between $100,000 and $600,000 (or as high as $1.4 million in select markets) |
| 🌳 Lot size | Maximum lot size of 1–2 acres, depending on market |
| 📆 Year built | After 1930 |
| 🔑 Occupancy | Owner-occupied |
Opendoor doesn't make offers on homes that are mobile, prefabricated, or located in a flood zone.
Where is Opendoor available?
Opendoor is available in over 50 metro areas — far more than any other iBuyer. However, the company doesn’t offer all its services (such as Opendoor Exclusives) in every market.
You can see a complete list of markets and available services here.
Is Opendoor legitimate?
Yes, Opendoor is legit. It's a real estate company that buys homes for cash and it’s available in 50+ markets across the US.
The Opendoor business model relies on charging sellers service fees of approximately 5% and reselling homes for a profit. The fees it charges are used to cover its carrying and resale costs. Every day Opendoor owns a home while it looks for a buyer costs money in taxes, marketing, utilities, and other expenses. Some buyers suspect that Opendoor takes shortcuts with repairs to keep costs low.
The company has also had issues in the past. For example, the Federal Trade Commission required Opendoor to pay $62 million for misleading sellers to believe they would earn more with Opendoor than selling on the open market. [2]
Opendoor responded by saying the claims were from 2017 to 2019, and it has since modified its marketing messages. [3]
FAQ about selling to Opendoor
Is selling to Opendoor worth it?
Opendoor could be worth it if selling fast is your top priority. Opendoor can close on your home in as little as 14 days. However, if you want to earn as much money as possible, your best bet is to work with a discount real estate agent who can help you save on commission and sell your home for top dollar on the open market.
Does Opendoor have hidden fees?
No, Opendoor is upfront about its pricing structure and doesn't charge hidden fees. Selling to Opendoor typically costs 710% of your home's sale price, which includes a 5% service fee, closing costs, and repair deductions. Compare Opendoor to other iBuyer companies.
What's the difference between an Opendoor preliminary offer vs. a final offer?
Opendoor's preliminary offer is automatically generated, and the company will make it within 48 hours. Opendoor's final offer is based on a virtual home inspection, deductions for repairs, and its 5% service fee. Because of this, the final offer you receive from Opendoor may not be the same as the company's initial offer.
Does Opendoor negotiate on price?
As a seller, you can try to negotiate your Opendoor offer. However, the company doesn't usually adjust its offer unless it made a significant error in your home assessment. As a buyer, you can also attempt to negotiate the price on an Opendoor home, but many buyers complain about Opendoor's refusal to budge on price.
Can I cancel my contract with Opendoor?
Yes, you can cancel your Opendoor contract at any time before closing, with no cost. This is one of the perks of selling your home to Opendoor as opposed to other iBuyers, most of which charge a cancellation fee. Learn more about how Opendoor stacks up against its competitors.
What is Opendoor?
Opendoor is the nations largest iBuyer. iBuyers are companies that use automated valuation models to make quick cash offers on homes and flip them for a profit. iBuyers like Opendoor typically pay less than market value and charge services fees of about 5% of the sale price. However, many sellers find the convenience of selling to Opendoor worth the cost.
Related links
Offerpad Reviews: How Does It Compare to Other iBuyers? Offerpad is an iBuyer that offers a flexible closing date to home sellers. In this complete guide, you'll learn how the company works, how real customers feel about the company, and the pros and cons of selling your home to Offerpad.
Offerpad vs. Opendoor vs. Knock: Which Should You Choose? Offerpad and Opendoor are two leading iBuyers, while Knock is a trade-in service that allows you to make a guaranteed offer on a home before you sell your old one. Learn the differences between these companies and how to choose the best fit for you.
Companies That Buy Houses for Cash: If you need to sell your home fast, a cash buyer can be a good option. Cash buyers will buy your home quickly and can provide a flexible closing. Here's our in-depth guide to the best cash buyers.
What Companies Offer the Lowest Real Estate Commission Fees? For home sellers who want to sell their homes for top dollar, the best way is to list with a full-service real estate agent on the open market. Here are the top companies that help you sell your home for a lower real estate commission so you can keep more money in your pocket.
About our reviews
Our company reviews are powered by hundreds of hours of research. To evaluate and rank cash home-buying companies, we analyzed thousands of customer reviews, secret-shopped each company, and looked to publicly available data for indicators of offer quality, customer service, fees vs. value provided, trustworthiness, and more. Whenever possible, we also talked to customers, company reps, and industry professionals (such as real estate agents) who've had direct experience working with the brand.