4.2
Editor's Rating (4,323 Reviews)1.1
User Rating (17 Reviews)Opendoor is the biggest iBuyer. They provide homeowners with quick cash offers for their properties. They focus on speed and convenience, letting you choose when to close. This way, you get more control but might have to accept a lower property value.
Pros
Cons
Opendoor is the largest iBuyer in the U.S. They make fast cash offers on homes. You get a quick home sale with flexible closing dates. Many Opendoor reviews highlight that there is no obligation to accept the offer. But they follow strict criteria for the homes they buy.
Additionally, Opendoor’s cash offer is usually between 70% to 80% of your home’s Fair Market Value. They charge a 5% service fee and a 1% closing cost. This can reduce the amount you receive when you sell your home to Opendoor.
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✍️ Editor’s Take: We recommend you opt for cash buyer marketplaces. They connect you with nationwide investors and buyers, increasing your chances of getting multiple cash offers. This way, you can choose the best offer and close the deal faster.
Key Takeaways
- Opendoor is an iBuyer that gives near-instant cash offers with closing timelines from about 14 to 60 days.
- Sellers usually receive 70% to 80% of the home’s fair market value after a 5% service fee and other costs.
- Repair costs and closing charges often reduce the final offer, and many sellers see the amount drop below the initial quote.
- They disclose their fees upfront with no hidden charges, but repair deductions can further cut into your payout.
- Opendoor reviews highlight their biggest strength as convenience. You can sell quickly with flexible close dates and no showings.
- The main drawbacks are low offers and limited negotiation. Unless there is a valuation error, there is little room to increase the offer.
Is Opendoor Legit?
Yes, Opendoor is a legitimate company headquartered in San Francisco, California. Eric Wu and Keith Rabois founded Opendoor in 2014. The company went through major leadership changes recently.
The co-founders Keith Rabois and Eric Wu rejoined the board. Rabois came back as Chairman. Additionally, Kaz Nejatian took over as CEO to lead the company into its next phase of growth.
Opendoor.com captures over 67% of the iBuying market in the United States. Apart from their iBuying business, Opendoor offers other services such as refinancing, listing homes, buying homes, and buying & selling.
- Homeowners who need to close fast due to relocation, job changes, or financial pressure.
- Sellers with homes in good condition or those willing to make minor repairs before sale.
- Those who want to avoid agents, showings, and lengthy negotiations.
- Owners who prefer certainty and immediate cash rather than waiting for traditional buyers.
- Sellers of single-family homes and some common property types that Opendoor accepts.
- Sellers who want to get full market price and are willing to wait for traditional buyers.
- Homeowners who prefer negotiating with buyers to improve their offers.
- Those with homes in excellent condition that could attract higher offers through listing.
- Sellers who are comfortable working with agents and managing showings.
- Homeowners who can afford repairs or upgrades to boost their sale price.
How Does Opendoor Work?
Here’s how you can sell your home to Opendoor:
- Request an Offer: You need to provide important details about your home on opendoor.com. After this, you’ll receive a free estimate of your home’s value.
- Schedule a Virtual Home Tour: If you accept their offer, Opendoor will arrange a virtual home tour. You can choose a video call or submit property photos and videos for verification.
- Complete the Home Inspection: Opendoor sends a home inspector to examine your property. The home inspection covers the foundation, roof, plumbing, electrical system, etc.
- Receive the Final Cash Offer: Opendoor makes a final offer on your house within a few days of the assessment. This includes their 5% service fee, repair expenses, and the 1% closing cost.
- Close on the Sale: If you accept Opendoor’s cash offer, you can select a closing date that extends from 14 to 60 days.
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👉 Important Note: You will need to move out of your house by 11.59 pm on the day before escrow closes. The cash sale will go through a few days after closing.
What Types of Homes Does Opendoor Buy?
Opendoor reviews reveal that they have strict eligibility criteria for the homes they purchase. If your property doesn’t meet them, the company will not extend an offer.
To qualify for an Opendoor offer, your property needs to fulfill these conditions:
| Parameters | Criteria |
|---|---|
| Ownership and Occupancy | Clear and marketable title. The property must be occupied by the owner. Furthermore, it must also be vacant at the time of closing. |
| Home Type | Single-family homes, townhouses. Duplexes and condos in certain areas. |
| Valuation | $100K to $600K. They can also buy homes valued up to $1.4 million. |
| Year Built | Houses built after 1930. |
| Maximum Lot Size | 1 to 2 acres of land. |
| Home Location | House needs to be within Opendoor’s coverage area. |
Other Opendoor Services
Here are some additional services Opendoor provides, depending on your location:
- Opendoor Brokerage: You can work with an Opendoor agent if you wish to list your home on the MLS. Similar to a traditional brokerage, you will receive all the assistance you need with Opendoor realty.
- Opendoor Complete: You can use your Opendoor cash offer for your old home to purchase a new one. Instead of paying two mortgages, you just have to pay the 5% service fee once.
- 90-Day Buyback Guarantee: Opendoor offers a 90-day buyback guarantee for a 3% fee. So, if the house doesn’t live up to your dreams, you can return it in three months.
- Opendoor Home Loans: You can finance your new home with the Opendoor mortgage lending solution. You get competitive interest rates on loans and avoid any extra lender charges. In certain states, Opendoor also offers a credit of $1,000 towards closing.
- Opendoor Title: With the acquisition of OS National in 2019, you can avail of title insurance and escrow services with Opendoor Title.
How Many Markets Does Opendoor Serve?
Opendoor covers 25 states across the U.S., including key markets like California, Texas, Florida, Arizona, and Colorado, among others.
Within these states, Opendoor operates in more than 50 cities and metro areas such as Los Angeles, Dallas-Fort Worth, Miami, Phoenix, Denver, Boston, Minneapolis–Saint Paul, and Washington, DC.
Does Opendoor Make a Good Offer?
Opendoor reviews suggest that sellers usually get 70%-80% of their property’s Fair Market Value. However, if you have a turnkey home, you may receive a higher offer.
Furthermore, with the added service fee, repair costs, and closing costs, you may end up leaving a lot of cash on the table.
Opendoor Reviews: Preliminary Offer vs. Final Offer
Opendoor starts with a preliminary offer based on your home details, similar sales, and market data. But the final offer is determined after a video or live walkthrough. They may also require an in-person inspection before providing the final offer.
However, many Opendoor reviews highlight that their preliminary offer may differ from the final offer by 23% to 30%. This is because they deduct various charges, including repair costs, service fees, and closing costs.
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» What’s My Home’s Value You can know your home’s market value with the free Home Worth Estimator. It helps you estimate the amount you will get upon sale.
What Do Customers Say About Opendoor?
Opendoor reviews are mixed. Many sellers appreciate the speed and ease of the selling process. They say Opendoor makes quick cash offers and allows them to close the deal fast.
However, several customers report receiving lowball offers. Some say Opendoor applies unexpected deductions under the label of repair costs. This reduces the total amount they receive from the sale.
With 4,323 reviews across various platforms, Opendoor has an average rating of 4.2 out of 5.
| Platform | Rating | Count |
| Trustpilot | 4.4 | 694 |
| BBB | 1.1 | 161 |
| Yelp | 1.5 | 39 |
| Reviews.io | 4.4 | 3,429 |
| Weighted Average | 4.2 | 4,323 |
Opendoor Reviews: Praises
✅ Smooth and efficient process
The experience was so smooth and efficient. My agent Chloe always answered my questions quickly. I had a fair offer in just a few days after the inspector came out and we closed in less than 30 days. I highly recommend OpenDoor.
Source: Trustpilot
✅ Convenient sale with no surprises
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.
Source: BBB
✅ Staff were responsive
Staff were responsive, and the overall process was efficient. I felt less stressed knowing that I had a guaranteed option to sell my home in the timeframe that worked best for me.
Source: Trustpilot
✅ Step-by-step guidance
Opendoor takes you step by step with a checklist from beginning to closing and a fantastic agent to walk you through the entire process. You get a comparable price for your home without having to deal with the public traipsing through while you’re trying to pack and move.
Source: Trustpilot
Opendoor Bad Reviews
❌ Lowball cash offer with extra charges
Cash offer was a joke, offered me 85% percent of their original offer. Wanted a 5% commission for selling it to themselves. And wanted me to pay 25k for prep and upkeep. Prep is being done for 3k and upkeep until sale? About $500 a month. I did get other cash offers all higher with no added fees, just cash at closing. HOA transfer and taxes, very basic.
Source: Trustpilot
❌ Delayed, overcharged, and undelivered service
Horrible experience: They made an appointment and finally came after I called them several times. Then, instead of installing a new device that I had previously paid for, they just did an evaluation. They said they would call back after they sent the evaluation in. And they just killed a half day of my time. They then called back and said they had to charge an extra $250 to access my pipes which was a complete joke as I had everything cleared out for them. NEVER AGAIN. I cancelled and went elsewhere.
Source: Trustpilot
❌ Not satisfied with the service
Opendoor is a joke, me and my agent had everything complete just to have them back out of the deal last min because of a mineral rights form, there are no minerals rights in today’s real estate in develop neighborhoods, maybe in rural areas if your lucky, opendoor is already buying house way below market, best to sell your home on open market, terrible experience very sad open door never again.
Source: Yelp
❌ Undelivered service not as promised
They charge so many fees that I would end up paying them 2k for my home making absolutely nothing on it! Most ridiculous thing I heard. Terrible company, can’t believe zillow partners with them
Source: Yelp
Opendoor Pros and Cons
Here are some pros and cons of Opendoor to help you make an informed decision:
✅ Pros
- Flexible Closing Timeline: You get up to 60 days to close on your home. They also let you set a date as per your convenience.
- Zero Cancelation Fees: Opendoor doesn’t levy a penalty in case you want to reject the offer or cancel the sale.
- Late Checkout: Opendoor allows you to stay in the home for up to 17 days after the closing date. However, you have to pay additional fees to avail this service.
- Streamlined Process: With Opendoor, you can sell your home without the need for open houses, showings, or repair work.
❌ Cons
- Lowball Cash Offer: The reviews on Opendoor reveal that their cash offers are as low as 70% to 80% of your property’s Fair Market Value.
- High Additional Fees: You have to pay a 5% service fee, repair cost, and a 1% closing cost when you sell your house to Opendoor.
- Strict Eligibility Criteria: Opendoor doesn’t buy inherited properties, homes with tenants, or properties located in a flood zone, etc.
- Limited Coverage: With coverage in around 50 markets only, Opendoor isn’t available to sellers nationwide.
Opendoor Competitors
» Jump to: Opendoor vs. Clever Offers | Opendoor vs. Houzeo | Opendoor vs. Mark Spain
1. Opendoor vs. Clever Offers
Opendoor is an iBuyer that makes instant cash offers online. They allow closings within 14 to 60 days. However, their offers are often below market value. Sellers may also face additional costs such as repairs or closing fees.
Clever Offers connects sellers with multiple cash buyers, allowing comparison of offers. They typically generate 3 to 5 competitive offers per listing. Sellers can choose the best offer and close on their preferred timeline.
2. Opendoor vs. Houzeo
Opendoor’s selling process may appear to be hassle-free. However, you get a reduced offer that is 70% to 80% of your home’s equity. Moreover, you get a cash offer from only one company.
On the other hand, Houzeo’s cash buyer network can get you multiple offers. When you sell your house for cash with Houzeo, your listing is visible to hundreds of local and national cash buyers. This increases your chances of getting top dollar for your home.
3. Opendoor vs. Mark Spain
Opendoor is one of the fastest iBuyers. If your home requires minimal repairs and you need cash urgently, you can close within 14 days.
With Mark Spain Real Estate, you can receive a cash offer on your home in as little as 21 days. You get to avoid showings and open houses with them.
Opendoor Reviews: Are They Worth It?
Yes, but only if you’re willing to accept their lowball offers. Furthermore, their high service fees and repair costs can significantly reduce your net proceeds. So, don’t settle for less when you have the chance to get your home’s true worth.
For a better deal, consider selling your home with a cash buyer marketplace. This gives your property wide exposure and lets you compare offers from multiple cash buyers. So increase your chances of getting a competitive price closer to your home’s actual market value.
Frequently Asked Questions
How does Opendoor work for sellers?
Opendoor makes selling easy by providing a fast, online offer after you enter your home details. Check how Opendoor works for home sellers.
How much does Opendoor’s final offer differ from the preliminary offer?
Opendoor’s final offer may be 23% to 30% lower than the preliminary offer. This variance is frequently noted in their customer reviews. The reduction typically accounts for repair costs, service fees, and closing expenses.
How much does Opendoor charge to buy your house?
Opendoor's charges include a 5% service fee, plus additional costs for repairs and closing.
What are the pros and cons of using Opendoor?
Opendoor offers a quick home sale with convenient, technology-driven tools. Sellers enjoy flexible closing dates. However, some customers complain about lowball offers and high repair costs. While the process is easy and fast, it’s important to be aware of these cons.
Does Opendoor have hidden fees?
Opendoor does not charge any hidden fees and discloses all costs upfront. However, many customers have reported unexpected repair charges. Additionally, Opendoor’s final offer can differ significantly from the preliminary offer.
We conducted a thorough review of Opendoor to provide an unbiased and fact-based analysis. Our research focused on real customer experiences and credible sources to ensure accuracy and reliability. The methodology included:
- Collecting Reviews: We gathered authentic customer reviews from trusted platforms such as BBB and Trustpilot.
- Analyzing Feedback: We examined reviews to assess service quality, customer experience, and satisfaction levels.
- Compiling Insights: We summarized findings objectively to highlight strengths and areas for improvement.
- Ensuring Neutrality: We avoided personal opinions and presented data-driven observations only.
We used reliable sources to gather information about Opendoor. Our research focused on real customer experiences and verified company details. Key sources included:
- Opendoor Official Website – for company services, policies, and offerings.
- Trustpilot – for genuine customer feedback and service ratings.
- BBB – for verified complaints, reviews, and performance insights.
- Yahoo Finance – for company background, business updates, and credibility checks.
- Real Estate News – for market context, expert views, and coverage related to Opendoor.
Resend Code
Reviews
(17 Reviews)
Paula Hopkins
Verified Reviewer
Darius Canty
Verified Reviewer
5th Apr 2025
Walk through with anyone who is sent to your home. Remember it may be easier to own what you have than it is buy what you sale.
JustinTyme
Verified Reviewer
1st Apr 2025
I just kicked OD down the road. I called and received an “initial offer” of $350 to $400k on line. Several mirror images of my house, upgraded and one with a two car garage added, sold for approx. $550k recently. I am aware of cost of renovation and calculations for profit. I was completely truthful. I let their assessor into my house. I would have been willing to accept the low end of their “initial offer” which would have allowed them to make repairs, 5.2% ‘service’ fee and plenty of room for a profit. OD came back with an offer $100k less than the “initial” on line offer. SORRY – but my house doesn’t need $250k in repairs to make it sellable for a profit.
Evie b
Verified Reviewer
1st Mar 2025
Would not use opendoor unless absoulutely neccessary. Opendoor offered $280k for my house, i turned it down. Did nothing else to my house and listed with realtor. 45 days later. House is closed and sold. $325k take home after all cost.would have lost $45k if i accepted oppendoors offer. Not a good deal
Unethical work dealings
Verified Reviewer
2nd Nov 2023
This company is the worst. They lowball offer you. The offered my clients an amount $40k below asking price. They told us we can sign up and just cancel anytime the due diligence period. We told them that we still want a higher payout on the home. So we relisted it for a lower amount but higher than what they were willing to pay. After 2 days of relisting it on a lower amount, we decided to accept their offer. They didn’t advise us not to change the price etc. 2 days after we accepted, they withdrew due to the changed price. What an awful company.
Sterling Leavitt
Verified Reviewer
24th Oct 2023
While the concept is sound, they seem to be all over the place in my local market. I have not yet found a seller that was greatly joyful after their sale. Buyers tend to have low opinions of working with the purchase of an Opendoor property. As an agent, I do struggle often with being able to work with a person in a timely fashion and when we need to have a conversation about negotiations, this a an often painful process. I have attempted to work 8 clients through the process, none wanted to continue after the first failed contact
Jeneane H.
Verified Reviewer
21st Oct 2023
This company wasted my time by giving me an initial offer, setting up a virtual walkthrough of my home, and then informing me a week later that they revoked the offer due to low resale numbers in my area. Not impressed!
David Maxwell West
Verified Reviewer
20th Oct 2023
I am buying a new home with Lennar and was referred to Open Door. Since then, my Lennar agent will not refer his customers to Open Door, and this has nothing to do with me. I was offered 630K for my home. I had an appraisal, and it was a little low but acceptable. The home that we wanted in a corner lot took almost two years to become available. Open door let us know that they could only hold our offer for 9 months. When we had a closing date for our home, we listed our home for a short time with a real estate agent to see if we could sell it at 620K. Things were a little slow, so we went back to Open Door for another offer. They came out and offered us 530K for our home. When I asked for the reason, they said the market had changed. I am a home inspector, and it is true that it has slowed down a little but not that much. When I called to ask I had to make over seven phone calls to get an agent who would talk with me. They refused to review the offer to see if it made sense. I will never work with this company again.
Karl Turner
Verified Reviewer
18th Oct 2023
Did not like the experience at all.
Karl Turner
Verified Reviewer
18th Oct 2023
Opendoor was not a pleasant experience but it may work for you.
Tod G. Franklin, Real Estate Broker Dallas Texas
Verified Reviewer
13th Oct 2023
I call them Brokendoor because almost every time I show one of their homes the foundation rides like a roller coaster. Their business model attracts desperate sellers with some condition causing the home to not be retail saleable in MLS. Brokendoor gets these homes at a discount and does little to get them market ready. Its a perfume on a pig approach to flipping. Buyer beware I tell my customers when it comes to Brokendoor homes. They are more likely to paint a home than fix a foundation is what I usually see.
Mike Bennett
Verified Reviewer
13th Oct 2023
Terrible customer service. Paid 500.00 3 days ago and it’s still not listed. No one will answer a phone call
Zorica
Verified Reviewer
13th Oct 2023
They gave my contact info to local real estate agency and their fee is 6% of sold price.
Jeff – Realtor
Verified Reviewer
13th Oct 2023
Opendoor has a nifty concept but is atrocious to deal with as a buyers agent. You can’t get a hold of anyone useful or knowledgeable about the local area. The process is stressful and properties overpriced.
Sharon
Verified Reviewer
13th Oct 2023
As a real estate agent, I don’t like Opendoor. The listing agent is in another city and always difficult to reach. The offer process is ridiculous because you can’t reach anyone and/or know if the property is already under contract when you may be writing one. And in our market they ALWAYS replace the carpet with ugly brown carpet.
Carlen Hultgren
Verified Reviewer
13th Oct 2023
only twice have I looked at and tried to get info from OpenDoor. I am still waiting for those call backs….
John
Verified Reviewer
All sounded good with initial offer. Then after they came to look at house. Lowered offer by 30,000.00 and said it needed over 30,000.00 work. House has new kitchen, new floors, new paint in and out and brand new A/C. They prey on people that are in a bad way (desperate). So wrong. Don’t know how they sleep at night
8th Jul 2025
This company is a scam. Trying to offer me 120,000 to 150.000 to buy my home I just got it appraised at 168,000. And on top of the low offer they want 5% more for buying. Kick rocks scammers!