They began with a high offer, hid fees, had us paying their closing costs on top of it plus their taxes on top of their 5.5% service fee, then did a "walkthrough" of about 60 seconds, listed "repairs" to bring our 540,000 home to 440,000. When asked why a fully updated home of a custom home builder with new everything from Stainmaster carpets to fresh neutral outside paint to new pool and heaters needed tens of thousands in repairs, they refused to disclose them, stating they begin with their highest offer. This is in direct contradiction to their marketing materials which states walk-throughs increase offers. When asked to disclose, they said Opendoor wasn't likely for me. Of course it isn't when you lose $100,000 from appraisal and $68,000 from the best cash offer from a local investor. It was laughable at best. Costing 20% of value is for morons. Even if we had a mortgage instead of outright ownership, only fools would take this route. Or someone who die in a few months I suppose.
3 years ago
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