Opendoor Reviews

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  Written by Katy Byrom

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  Edited by Jessica Johansen

Should you use Opendoor? | How much does it pay? | Opendoor fees | Opendoor reviews | How Opendoor works | Buying with Opendoor | Opendoor vs. competitors | Eligibility | Locations | FAQs

If you’re looking for a hassle-free home sale, Opendoor — the nation’s leading iBuyer — offers a convenient solution. With Opendoor, you can get an offer within 48 hours of submitting some basic property information. Its service fee of 5% is about what you’d pay in realtor commissions, but your sale price will likely be lower and you’ll also be charged for repairs identified during the company’s inspection. 

Before accepting an offer, we recommend comparing it with offers from a few other reputable cash buyers. You can also use a company like Clever Offers — all you need to do is fill out this form and they’ll find the best cash buyers in your area.

Opendoor at a glance

Should you use Opendoor?

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 sell for 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.

Jesse Zappia, who sold his home with Opendoor, was on a tight selling timeline and wanted an efficient, convenient sale. Via Zoom, he told us that he sold for less than what he could have gotten using a real estate agent, but having a quick sale was worth it for him.

“If you’re in the situation where you need to have a sale that you can get a quick fire on, and that you can move without having to make those repairs or worry about inspections and appraisals, [Opendoor’s] process really works,” says Zappia. “But you definitely have to be cognizant of the fact that there is a loss associated with that.”

Sometimes the loss can be cushioned simply by shopping around. For example, home seller Bradley Carpenter, whom we also spoke to by Zoom, was able to save $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 Reddit user claimed their Opendoor offer was a full 15% below market value. They ultimately decided to go the traditional route toward selling.

By contrast, some past customers have gotten a better price from Opendoor than what the market actually supported: “In my case, says this Reddit user, “Opendoor paid me about 20% more than what they eventually resold my house for a few months later.”

Our own analysis of 150 homes bought and sold by Opendoor between 2023 and 2024 shows similar inconsistencies among offer prices — 27% of the homes sold for less than Opendoor bought them for and 73% broke even or sold for a profit.

For example, Opendoor recently bought this home in Sterling, VA for $759,300. At the time, Zillow’s Zestimate showed the home to be worth right around $820,000. However, after re-listing the property for $821,000 only three days later, Opendoor ended up selling it for just $755,000 — $4,700 less than they paid for it — nearly four months later.

In nearby Falls Church, VA, however, Opendoor was able to purchase this home for $888,400 and flip it for $920,000 only three weeks later (a gain of $31,600). 

Opendoor fees

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.

But others paid much more for repairs. Another seller we spoke to, Bradley Carpenter, was quoted around $7,000 for repairs on a $230,000 sale. That’s equivalent to about 3%.

We also encountered several Opendoor reviews that claimed repair costs ran even higher, sometimes over $30,000. These expenses could lower your final proceeds significantly more than you expected.

Opendoor vs. competitors

Opendoor competitors include other iBuyers and “we buy houses” companies. 

Both options can give you a cash offer within days. But 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 70–85% of what they think they’ll net after flipping the home.

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 of the top cash buyers to consider while you evaluate your options.

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 5–6% in agent commissions, 1–2% for seller concessions, and another 1–2% for closing costs. That’s a total of 7–10% 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. If you work with a reputable discount broker, you can also save significantly on listing fees.

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.

“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

Opendoor reviews from customers are generally positive, with an average rating of 4.2/5 across 3,800+ reviews.

But not all reviews for Opendoor are positive. In fact, the company has 139 complaints on its Better Business Bureau page and poor-to-average ratings on both Google and Trustpilot.

Here are some common themes among Opendoor customers.

✅ Efficient, stress-free process

“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

✅ Flexible closing timelines

“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

✅ Quality customer service

“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 Williams, Reviews.io

❌ Final offers are a lot lower than initial offers

“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

❌ High repair costs

“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

❌ Substandard or incomplete repairs on homes sold by Opendoor

“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

❌ Delayed closings for buyers

“We have been in the process to close on this home owned by Opendoor. We’ve been waiting for a certificate of repairs for over a week and have been extended twice on our closing date. … We are now 10 days past our original closing.” 

— Anonymous BBB reviewer

❌ High listing prices and little room for negotiation

“Purchased a house from OpenDoor. After refusing to negotiate on price and not disclosing any issues on the house, we paid near the top of the appraised value for a house from the 70’s and so far it’s ended up having extensive severe termite damage, live termites, leaky pipes, and poorly installed new flooring that isn’t level and is breaking apart. We’re going to go bankrupt on it just to make it livable. We’re on a fixed income, this has ruined our lives.” — Traci T., Trustpilot

How does Opendoor work?

Sell to Opendoor | Offer Lock | Buy from Opendoor | Buy & Sell

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.

You can also buy a home directly from Opendoor, buy a home on the open market with one of its agents, or trade in your home for a new one using Opendoor Buy & Sell (a service similar to Knock’s Bridge Loan).

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 five 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 60 days. Usually, Opendoor offers expire after five days.

During those 60 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 60 days, you can fall back on Opendoor’s offer.

If your home sells on the open market, you’ll pay the standard realtor commission, which is typically 5–6%. The buyer may request that you pay for repairs, and you’ll also cover 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:

• Use the Opendoor app or website to find a home to buy directly from Opendoor
• Hire an Opendoor agent to buy a home on the open market

Homes bought directly from Opendoor cost slightly less, since there won’t be a buyer’s agent fee factored into the price. The company partners with the mortgage provider Lower, but you’re free to use your own lender to purchase an Opendoor home.

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 also offers a 90-day buyback guarantee, so if you’re unsatisfied with your purchase, you can back out within three months. There’s a 3% fee associated with the program and terms and restrictions apply. For example, you must provide an inspection report showing there and no material defects with the home, and there cannot have been a than 5% in the general housing market.

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 more than 100 properties bought and sold by Opendoor in 2023, we found that homes sold by Opendoor sat on the market for an average of 64 days and sold for an average of 6% (or ~$35,000) less than their original list price. 

For comparison, the typical home sold in the U.S. sold in just 27–50 days in 2023, depending on the month, and fetched 98–100% of its list price, according to Redfin data. 

Low-quality repairs tend to be the norm

Additionally, 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 getting a home warranty.

Buy & Sell

Buy & Sell, previously called Opendoor Complete, is similar to a home trade-in program. You sell your house directly to Opendoor and then buy your new home through Opendoor.

By buying and selling with the same company, you can easily coordinate your closing and move-in dates and avoid paying for two mortgages at once.

However, you may be able to coordinate your closing and move-in dates even if you buy and sell with different brokerages. And unlike other home trade-in services, like Orchard and Knock, Opendoor won’t lend you money to make home repairs or a cash offer on a home.

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.

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.

FAQ about selling to Opendoor

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.