We have purchased and sold residences several times previously. We tried OpenDoor because we were moving long-distance in mid-winter and had already purchased our next home. Selling quickly to OpenDoor avoided a couple of months loan payments, taxes, and utilities on the home. OpenDoor has a rigid purchase model with little flexibility. It is all done online. This made us somewhat uncomfortable. We knew the home needed some painting and a thorough cleaning. OpenDoor's inspection was thorough and found a few other things. OpenDoor's offer was fair. However, we were very surprised by the 6% fee they charged. Local Realtors only charge 5%. A disturbing aspect of selling to OpenDoor is you never see a company representative and you have NO ONE representing you or watching out for your interests as you would have with a Realtor. We also were passed from person to person, always by phone or email, as we proceeded thru the process.

We were very disappointed in their choice of title company - Ticor. Ticor fees were almost double other local title companies and their agent became almost belligerent when I told her of comparable title company fees. We signed 5 days before closing because OpenDoor will not close until the house is empty. We had to sign on Thursday so we could be there when the packers came on Friday and Monday and the moving truck on Tuesday. The OpenDoor representative, who had no identification, came Tuesday evening to take pictures and collect the keys. We stayed in a motel that night. Closing was the next day while we were traveling. Another problem with Ticor, they did not promptly distribute the payouts. They took nearly 2 weeks to pay the final city utility bill, forcing us to pay it and look for a reimbursement, which, after a month, has yet to arrive. They also over-withheld on the home equity loan, causing the bank to have to send us a check the following month for the excess amount. I have NEVER had such problems with a title company before.

In summary, if you need to sell a home quick and don't want to deal with repairs or showings, OpenDoor may be your ticket. Otherwise, use a GOOD Realtor who will assist you and ensure you get a fair price and a good title company. Remember, it is your choice.
(Portland) - Posted 1 year ago
Opendoor is rated 4.03 based on 700 reviews

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