I'm absolutely stunned by the offer that I got from Opendoor. I bought my house in Sept 2015 at $333K in the Happy Valley and 67th Ave area. In the past 1.5 years, the real estate value has appreciated in the area by about 5%-7%. I got a letter from Opendoor saying that the value of my house should be between $327K and $369K. I went ahead and filled in the info in the website and in an hour I got the offer of $285K!!!!!!!!! 17% lower than what I had paid - forget the appreciation completely. This is completely bait and switch... in their own letter they give a different price for my home and suddenly on the website they change it but not 1 or 2k, but by $48K from what I had bought my house at!!! This is just crazy...
I got a call from the associate at Opendoor and he said that he would have a relook at the fairmarket value... Come on... on top of this, they want to charge 11%-12% fees!!!!
I would tell everyone to stay away from Opendoor. Its a complete scam!