We are trying to buy a home owned by Opendoor / Mark Spain. Our inspector found some major issues including none of the 3 AC units are working properly, roof only has 3 years left (last replaced in 2005), and the major one...it has a Sylvania electrical panel which is for all practical purposes un-insurable. Opendoor refuses to replace it for a messily $2k because "They can get a cash offer from someone who doesn't need insurance". So they purchase houses at below market price without regard for condition because the condition does not matter, in hopes of selling the homes for a profit to cash only buyers, which virtually excludes all traditional home owners out of the market. They are creating another housing crash.
3 years ago
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