Opendoor Reviews

Who it's for | What it pays | Fees | Reviews | How it works | Competitors | Criteria | Locations | FAQ

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 in just 24–48 hours and close in as little as 14 days. Its service fee of 5% is on par with realtor commissions — although 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, better options may be out there. Before accepting Opendoor's offer, we recommend checking out offers from a few other top cash home buying companies.

To save some time, you can start with a free service like Clever Offers, which helps you find the most competitive offers from leading cash buyers — including iBuyers like Opendoor. That way, you can easily narrow down your options and sell in as little as 7 days. Simply fill in a few details about your property, and they'll send you the best offers — with no added fees or obligation.

Opendoor at a glance

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," says Jesse Zappia, who recently sold his home with 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 save $3,000 in repair costs from Opendoor by showing them an alternative offer from its main competitor Offerpad.

Here are a few alternative cash buyers to consider while you evaluate your options.

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-to-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. % market value paid by Opendoor	94%*

Opendoor fees and other costs

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. 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 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.

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

Opendoor reviews from customers are generally positive, with an average rating of 4.2/5 across 4,154 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.

✅ 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

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

❌ 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 bought from 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

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:

• 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

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 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 55 days on the market and sells for 12.7% greater than than the listing price.

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.

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.

Albuquerque Atlanta Austin Birmingham Boise Boston Charlotte Charleston Chattanooga Cincinnati Cleveland Colorado Springs Columbia Columbus Corpus Christi Dallas–Fort Worth Denver Detroit

Greensboro Greenville–Spartanburg Houston Indianapolis Jacksonville Kansas City Killeen Knoxville Las Vegas Los Angeles Miami Minneapolis–St. Paul Nashville New York / New Jersey Northern Colorado Oklahoma City Orlando

Phoenix Portland Prescott Raleigh–Durham Reno Richmond Riverside Sacramento Saint Louis Salt Lake City San Antonio San Diego San Francisco Bay Area Southwest Florida Tampa Tucson Vancouver Washington, DC

FAQ about selling to Opendoor

Related links

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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.