Opendoor Reviews: Can You Still Get a Fair Offer?

When you want to avoid the hassle of a traditional listing, Opendoor offers a convenient alternative. As an iBuyer, Opendoor will purchases your home as is and and close on your timeline — no need for repairs, showings, or lengthy negotiations.

The catch is that Opendoor typically pays less than the market value. Our data team's analysis of more than 200 homes bought and sold by Opendoor revealed that the company typically sold those homes for about 5.11% more than it paid — costing sellers the equivalent of $25,550 in lost profit potential on a $500,000 home.

Opendoor also charges a 5% service fee (comparable to the standard realtor commission), plus repair fees and closing costs.

Given that iBuyer purchases represent less than 0.5% of home sales in the U.S[1] — most sellers find a better deal on the open market.

If you want to avoid the traditional listing process, but are on the fence about selling to Opendoor, we recommend starting with Clever Offers. With Clever, you can compare multiple cash offers worth up to 100% of your home value. Sell in as little as 7 days for the highest possible price, with no added fees or obligation to move forward. Fill out a quick survey and find the best cash offers for your home.

Is Opendoor right for you?

Opendoor gets high marks for offering customers a truly convenient alternative to a traditional real estate listing. The company makes offers much closer to fair market value than a typical house flipper. You can skip repairs and showings, and inspections typically take just 30 minutes to complete. Plus, you can choose your own closing window of 14–60 days, and modify the move-out date if needed.

However, there are a couple of drawbacks to keep in mind:

• You'll sell for less than market value. While Opendoor used to pay close to market value for homes, more recent data suggests its offer amounts have declined to well below what they were a couple of years ago.[2]
• Costs add up. Some sellers claim your offer can be dramatically lowered after the company's home inspection, when repair costs are assessed. You'll also pay a service fee of 5%, which is on par with the average real estate commission.
• Only certain homes qualify.  Opendoor generally only buys single-family homes and townhomes, in good condition, that fall within the typical price range for the area. It currently makes offers in about 50 major U.S. cities.

"For my situation, I needed to sell fast and the offer they gave me was about $8K below what I would have listed it for (spoke to 3 realtors)," says a Reddit user who sold his home to Opendoor in January, 2024. "I did it for speed, convenience, and no showing or waiting on buyers hassle, while understanding that I will have to bite the bullet on a few thousand [dollars] and that's what ended up happening."

If you have a home that needs significant work or need to get your home's full asking price to secure a new house, selling to another company that buys houses for cash or listing with a realtor (particularly from a brokerage offering competitive commission rates) may be a better alternative.

Opendoor reviews

Source	Average Rating	Review Count
BBB	1.1	215
Google	1.3	63
Reviews.io	4.4	3,371
Trustpilot	4.5	492
Zillow	4.6	74
Weighted Average:	4.2	4,215

Customer reviews for Opendoor are a mix of positive and negative. Overall, the company maintains an average rating of 4.20/5 across 4,215 total reviews on sites like Better Business Bureau, Google, Reviews.io, and Trustpilot.

While Opendoor's reviews on sites like reviews.io, Trustpilot, and Zillow are mostly positive, customer ratings on consumer sites like Google and Better Business Bureau trend lower.

Additionally, negative Opendoor reviews have increased since 2022. This trend likely reflects Opendoor making lower offers and being more selective about what properties it buys than it used to.

While some customers find the convenience of selling to Opendoor worth it, others complain of disappointing offers and excessive repair fees that significantly lower their net proceeds.

Here's a summary of the most common Opendoor reviews and complaints.

Positive themes from Opendoor reviews

✅ Hassle-free selling process

Several reviews from past home sellers praise the ease and convenience of selling to Opendoor.

For example, reviews.io user Crystal had this to say about selling with Opendoor: "My experience couldn’t have gone any better. The process with Opendoor was exactly what I was looking for. I needed a quick sale, sold as is, and without me having to do any repairs…and that’s exactly what I got!"

This seller shared a similar experience: “I was working a full-time job and building a new home (personally). I did not have time for a real estate company and dealing with an agent, 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.”

✅ Fair offers when measured against the convenience

Other reviews, such as this one from Trustpilot mention that, while Opendoor may not give you as much as you could sell for on the open market, offers are generally worth the convenience:

"For me, the cut they take off of the price of your home is well worth the hassle they remove from the process. I was able to set the date that we closed, not have to worry about preparing for showings, I didn't have to worry about how long it would be on the market before sale, and I was able to put that time and energy into planning the rest of my move."

This customer felt similarly, stating:

"With the uncertainty of the housing market, I felt Opendoor's offer was really fair. Not having to do repairs, deep cleaning, or open houses was a huge weight off for me. I loved choosing my close date. They made it incredibly simple. They even sent a mobile notary to me to sign the papers, very convenient and simple. I just had to empty the house and submit my photos. I got a confirmation and the money in my bank on my close date. Might not be for everyone, but it was perfect for me."

✅ Good communication and professional service

Other positive Opendoor reviews say that customer service was responsive and quickly addressed any issues.

For example, this seller appreciated that “everyone was very professional and was there whenever I needed any assistance.” Another said, “My contact was amazing and very communicative. Professional and no-pressure style.”

Opendoor complaints

❌ Offers that are lowered or rescinded altogether

Many Opendoor reviews from sellers mention final offers being well below initial offers.

For example, this reviewer said, “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 December 2023, Trustpilot user Donna H. reported a final offer that was only half of the initial estimate: "Their original estimate for my home was $257k–297k. After I meet with one of their representatives the actual offer was $162k. They wasted my time and mislead me."

Some customers, like this home seller on Truspilot, also mention offers that are taken off the table late in the game, resulting in wasted time and lots of added stress.

"Just about two weeks before the scheduled closing, Opendoor left me a voicemail saying they cancelled the contract because they have concerns about being able to resell the house. The contract included a 10 day due diligence period but Opendoor cancelled more than 10 days after the contract was signed. They breached the contract."

❌ Inflated repair costs

Reviewers like Robert B. from Trustpilot note shockingly high repairs costs from Opendoor: "I received an initial offer from Opendoor, and it was low, but I figured the virtual walk through would help raise it. 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.

To add insult to injury, some sellers, like Charles Nickum on Trustpilot note that Opendoor doesn't actually make all of the repairs it charges for before relisting the house:

"The big issue I have is the repair cost estimate. We sold the house and 2 weeks later its on the market for 32k more, which I don't mind at all. I just know they didn't spend what their repair cost estimate was based on the pictures. I also remember the agent telling me if the repairs came in lower its possible we might get money back. It's after closing now so I don't see that happening."

❌ Unsolicited offers and accusations of false advertising

Some customers question the ethics of Opendoor's advertising practices, which involve sending unsolicited mailers to homeowners asking if they're interested in selling their house. 

A few reviewers even go so far as to claim false advertising on Opendoor's part after their actual offers end up being much lower than the initial range provided. On Trustpilot, reviewer Donna H. had this to say:

'Their original estimate for my home was $257k-297k. After I met with one of their representatives the actual offer was $162k. They wasted my time and mislead me. Not worth my time."

❌ High prices and low-quality renovations on Opendoor listings

Home buyers tend to have poorer experiences with Opendoor than sellers. Customer reviews from buyers claim atypically high prices that Opendoor refuses. to negotiate and shoddy workmanship on repairs.

For example, this buyer claimed, “After [Opendoor was] 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.”

Google user Steve L. shared a similar experience:

"The place I bought was nice but I paid top dollar for it. I get the impression that they use the cheapest possible contractors who do shoddy work. I had to replace the AC unit, water heater, garbage disposal, faucets, disposal, washer, dryer, refrigerator. I also repainted. All in the first 3 months. [...]They skimp on everything. They would not pay for a home warranty. If you have to buy from them assume worst and factor that into your bid."

If you're viewing an Opendoor property, find a real estate agent who can help you spot potential problems, and get a thorough home inspection before closing.

In-depth Opendoor review

Opendoor offers

As a general rule, Opendoor pays more than a typical investor's cash offer. However, Opendoor still typically pays less than what sellers could get on the open market. In 2023, for example, offers from Opendoor were significantly lower than Zillow’s estimated market values,^[1] according to iBuyer expert Mike DelPrete.

More recent home sellers, like this Reddit user, complain that their Opendoor offers were as much as 15% below their home's estimated market value. 

Yet, other customers claim to have gotten an even better price from Opendoor than what the market actually supported: "Sometimes they make mistakes," said a Reddit user. "In my case, Opendoor paid me about 20% more than what they eventually resold my house for a few months later."

Our own analysis of 150 homes sold by Opendoor between 2023 and 2024 corroborates the inconsistent offers customers seem to have gotten from the iBuyer.

• On average, Opendoor sold these homes for 5.11% (or $19,373) more than they bought them for, after about 40 days on the market. 
• However, 27% of the recent Opendoor properties we analyzed sold for less than Opendoor had initially paid for them. And 72% saw a drop in list price before they sold — suggesting that Opendoor often overestimates their market value.

How much does Opendoor buy and sell homes for?

Avg. Opendoor purchase price	$543,038
Avg. list price	$597,860
Median days on market	40
Avg. resale price	$562,411
Avg. price difference (bought-to-resold)	$19,373
Avg. % made by Opendoor	5.11%
Source: Internal analysis of 150 homes bought and sold by Opendoor between January 2023 and January 2024. Data sourced from Bright MLS and public property records.

Opendoor's preliminary offer vs. final offer

Keep in mind that Opendoor's initial offer is almost always higher than its final offer. That's because the "instant" cash offer is an estimate based on information you provide to Opendoor about your home's size, age, and features. It doesn't account for the actual condition of your home.

Jesse Zappia of Charlotte, North Carolina, sold his home to Opendoor in 2022. During our Zoom conversation, he recalled a nearly $40,000 difference between Opendoor's preliminary offer and final offer price: “Their initial offer was somewhat closer to the $600,000 number. And then when they came back and gave me a final offer, it was, I think, $560,000 or something. So it was a significant jump.”

Other sellers have had similar experiences, complaining that final offers are lowered by as much as half the initial estimate.

Before you accept an offer from Opendoor, we highly recommend comparing it to offers from a few other well-rated cash buyers. You should also have a good idea of what your home could sell for 'as is' through a traditional listing. Most realtors are willing to run an analysis of comparable homes in your area for free, and cash offer networks like Clever Offers can help you shop for multiple offers from legitimate buyers.  ⚡ Compare offers from leading investors and iBuyers — plus get an expert realtor's opinion on what your house is worth. Clever Offers is free to home sellers, with no added fees or pressure to commit. Get Cash Offers.

Opendoor fees and other costs

Opendoor fees include a 5% service charge, plus traditional closing costs of about 1%. But you also need to pay for repairs, which can vary substantially. In fact, several Opendoor reviews complain about repair costs being several thousand dollars, substantially lowering the final offer.

In February 2024, Google user Jon Baugues had this to say about Opendoor's repair costs:

"As many others have said you get an initial 'offer' that according to them can go up or down. But yet only goes down. Plus, they have 30k in repair costs that are deducted that they are unable to itemize except saying paint and flooring. They lowball you while technically keeping the purchase price higher so their comps remain high. Way better options than selling to them."

For Bradley Carpenter, who sold his home to Opendoor in 2022, the company's repair fees were about $7,000 — just over 3% of the offer price.

However, Carpenter negotiated by showing Opendoor a competing offer from Offerpad. Over Zoom, he told us, “I sent [Opendoor] the Offerpad offer, and I said, ‘Hey, Offerpad offered me $3,000 more than you. Are you guys willing to come up a little bit?’ As a result, Opendoor reduced their bill for repair fees by $3,000."

If repair costs seem high to you, you can try to negotiate or reject the offer without penalty.

Opendoor fees

Selling with Opendoor

Opendoor's main value proposition is in making the process as easy and stress free as possible for home sellers. You can get an offer within 48 hours of submitting your property information online and close in as little as 2 weeks (or take as long as two months, if you need time to find a new place). 

You also have a dedicated Customer Experience Partner and customer support team to walk you through the process.

Here’s how it works.

1. Request an Opendoor preliminary offer

To get an Opendoor preliminary offer, you fill out an online form with basic details about your property. If your home is eligible, you receive an initial cash offer, usually within 24 hours.

2. Schedule an inspection

Your final offer is contingent on a home inspection, which you schedule after receiving your preliminary offer. The inspection will cover your home's interior features (e.g., paint, flooring, cabinetry, appliances), exterior (e.g., roof, foundation, building materials, pool, landscaping), and major systems (e.g., HVAC, plumbing, electrical). 

The inspection's thoroughness can vary, but several sellers told us it was surprisingly quick.

Bradley Carpenter, who sold his house to Opendoor in 2022, only had to submit photos of the rooms of his house. “They didn't do an interior inspection," he said. "They sent these three guys out and they just walked around the house, basically an exterior inspection.”

That said, Opendoor has gotten pickier about which properties it buys, and more recent sellers claim that a brief interior inspection was part of the process.

3. Receive a final offer

After the inspection, you receive your final, adjusted cash offer. The offer will show the amount deducted for repairs, which can often be several thousand dollars. It will also include your anticipated closing costs and Opendoor's service fee, which most sellers claim are pretty standard (ranging from 0.5–1%).

If you don't like the final offer amount, you can cancel the contract without penalty.

4. Sign the purchase agreement and choose a close date

If you sign the purchase agreement, you get to choose your closing date. Opendoor also lets you change your closing date as long as it’s not within seven days. Opendoor generally uses its own title insurance company, which requests documents from you via email.

You can also stay in the home for up to 17 days after closing using Late Checkout. Opendoor charges around $100–400 per day and asks for a $2,000 security deposit.

Verify the Late Checkout fees beforehand. We talked to one seller who said Opendoor allowed him to stay for seven days after closing for free.

5. Close and get paid

On your closing date, you follow instructions on the Opendoor app. The instructions include uploading photos of your property on the day you move out. If you paid for Late Checkout, Opendoor returns your security deposit to your account shortly after closing. It deposits the funds from the sale into your account within a few days.

What types of homes does Opendoor buy?

Opendoor has high standards for the homes it buys. Your property needs to be:

• In fairly good condition
• A single-family home or townhome (condos and duplexes are accepted in some areas)
• Constructed after 1930
• Worth under $1.4 million (ideally $100,000–600,000)
• With clear ownership
• Owner-occupied or vacant at close

Distressed or hard-to-sell properties tend not to qualify. For example, Opendoor doesn't purchase properties that:

• Are in foreclosure or short sale
• Are damaged by fires, floods, or natural disasters
• Use septic systems
• Contain unpermitted additions
• Are in a flood zone
• Contain dated building materials
• Have significant structural or foundational issues

Even if your property meets Opendoor’s criteria, there’s no guarantee the company will make a cash offer. Other factors, like local market conditions, also determine whether Opendoor will buy your house.

Opendoor’s cancellation policy

According to Opendoor's website, you can cancel your contract at any time before closing.

There's no penalty for canceling the sale. Opendoor's main competitor, Offerpad, charges a 1% cancellation fee.

Buying from Opendoor

The process of buying from Opendoor is similar to that of buying the traditional way. However, you'll be negotiating directly with Opendoor — and buyers often express frustration with the lack of flexibility on Opendoor's part, even when buyer's bring serious concerns to the table following an independent inspection.

Customers also note hiccups and delays in the closing process when buying from Opendoor, as well as Opendoor's failure to disclose issues with homes that they are selling.

Here’s how buying from Opendoor typically works.

1. Search for properties online

You can search for homes to buy through Opendoor’s website. By default, Opendoor lists all homes for sale on the local MLS. If you want to see only homes owned by Opendoor, go to the More Filters menu and check the box “Opendoor homes only.”

2. Get pre-approved for a mortgage

You need to get pre-approved for a mortgage before you can tour Opendoor-owned homes. Opendoor is partners with a mortgage provider called Lower. While Opendoor may recommend working with Lower, you have no obligation to do so. Shop around to make sure you get the best mortgage deal.

3. Tour a house with the Opendoor app

When you find a home you like, you can schedule a tour. You can self-tour most Opendoor-owned homes via the Opendoor app. Just choose a time that works best for you and tour without a real estate agent. Homes that Opendoor doesn't own typically require an agent to be present during the tour.

4. Make an offer

To make an offer on an Opendoor house, you can use your own agent. Opendoor often lists two prices on its homes — one if you make an offer with your real estate agent and a lower one if you buy "directly" from Opendoor. The buy direct option gives you almost no room to negotiate, which is why the price is lower.

However, even if you make an offer with an agent, don’t expect Opendoor to negotiate much on its price.

Barry Richards, Principal Broker at EXIT Realty Garden Gate Team in Springfield, Tennessee, told us that Opendoor tends to price homes high and wait until someone is willing to meet that price. He said, “They don't tend to negotiate much on whatever current price they have.”

Opendoor may recommend you use an Opendoor agent if you don't already have a realtor. You have no obligation to do so, and you can proceed with or without your own realtor.

5. Schedule an inspection and close

If Opendoor accepts your offer, you need to schedule an inspection and negotiate any repairs and closing costs. Unfortunately, Opendoor homes sometimes have rushed repair work, so make sure you get a thorough inspection.

After you sign the agreement and finalize the inspection, you can choose your close date. The entire buying process typically takes 14–45 days.

Credibility: Is Opendoor legit?

Founded by Eric Wu in 2014, Opendoor is the largest iBuyer in the U.S.. It currently operates in over 50 metros across the U.S. — purchasing about 1,000 homes a month, down from nearly 6,000 per month at its purchasing peak in August, 2021. It also has 4,215 mostly positive reviews from customers.

Opendoor shows a fair amount of transparency when presenting its offer, which includes its calculations for your home value as well as fees and closing costs. The report details the price of comparable homes that have sold recently in your neighborhood. It also accounts for unique aspects of your home that could affect value, such as a finished basement, proximity to quality schools, and walkability to shopping or public transit.

The home assessment also includes repairs needed before Opendoor sells the house, and how the costs of these repairs will affect your home's sale price. However, sellers have complained that Opendoor's repair deductions are out of line with realtors' assessments of the work that needs to be done on their home.

A few customers have even claimed false advertising when the advertised offer range ends up being much higher than the actual offer from Opendoor.

Opendoor vs. alternatives

Opendoor competitors include other iBuyers like Offerpad, buy-before-you-sell services like Homeward, and investors that flip homes for a profit.

While iBuyers tend to pay closer to market value than traditional 'we buy houses' companies, they operate in limited markets and typically don't buy homes that need a lot of work or have financial complications like liens attached. 

Cash offer networks like Clever Offers let you compare offers from multiple cash buyers, which could get you a more competitive price for your house.

Here are some of the top alternatives to Opendoor.

» MORE: Looking for more cash buyers near you? Check out the best companies that buy houses for cash to see our comprehensive guides for all 50 states. 

Other Opendoor services

Aside from instant cash offers, other Opendoor services include title insurance and financial services through its partnership with Lower. Because of market conditions, a few Opendoor were discontinued, such as Opendoor Home Loans.

Offer Lock

As an alternative to selling directly to Opendoor, Offer Lock allows you to 'lock in' your cash offer for 30 days while you list your home the traditional way with an Opendoor partner agent. (Typically, Opendoor’s final cash offer expires after 5 days.) If you get a better offer from a traditional buyer, your agent will support you through the usual selling process. If not, Opendoor's offer is there for you to fall back on.

Offer Lock is available to anyone who lists with an Opendoor partner agent and whose home qualifies for a final cash offer.

Opendoor Exclusives

Opendoor Exclusives is an off-market list of homes that Opendoor is offering at a lower price. The homes are ones that Opendoor has purchased and renovated. They are listed at a discounted price for 14 days. If they don't sell, they're listed on the MLS for a 2–4% higher price.

Opendoor Title

In 2019, Opendoor acquired OS National, a national title insurance company.[3]

As a result, Opendoor now offers title insurance and escrow services to customers internally through Opendoor Title.

Opendoor locations

Opendoor is currently active in these markets across the country:

• Alabama: Birmingham
• Arizona: Phoenix, Prescott, Tucson
• California: Los Angeles, Riverside, Sacramento, San Diego, San Francisco Bay Area
• Colorado: Colorado Springs, Denver, Northern Colorado
• Florida: Jacksonville, Miami, Orlando, Tampa, Southwest Florida
• Georgia: Atlanta
• Idaho: Boise
• Indiana: Indianapolis
• Massachusetts: Boston
• Michigan: Detroit
• Minnesota: Minneapolis–St. Paul
• Missouri: Kansas City, St. Louis
• Nevada: Las Vegas, Reno
• New Mexico: Albuquerque
• New York: Long Island, Lower Hudson Valley
• New Jersey: Various counties
• North Carolina: Ashville, Charlotte, Greensboro–Winston, Raleigh–Durham
• Ohio: Cleveland, Columbus, Cincinnati
• Oklahoma: Oklahoma City
• Oregon: Portland
• South Carolina: Charleston, Columbia, Greenville
• Tennessee: Chattanooga, Knoxville, Nashville
• Texas: Austin, Corpus Christi, Dallas–Fort Worth, Houston, Killeen, San Antonio
• Utah: Salt Lake City
• Washington, DC

Opendoor FAQs

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