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  • Our experience with opendoor is less than stellar. Though we went ahead with them and left our old home to be in a better neighborhood. They gave us a fair market price for our home but what consumer need to know that opendoor is not posting in their website is they actually charge more than the realtor. I am not sure if this is market driven but they charge 6% for their services which they call it opendoor experience "AND" another 6% market risk charge, which is a standard fee they add for selling your home. That's 12% reduction from their offer plus additional fees such as repairs. It worked out for us because we ended up buying their inventory home and offered us a price reduction for the new home because we did not use a realtor. During that process of buying their home--they pushed us to use their preferred lender even I have stated that I will use our own lenders. Their reasoning behind this is that--if one is approved with their preferred lender, there are less road blocks on the way in their view. Well, i did not get approved by their lender but was approved by other lender after my 3rd try. Yes my record is not so great as I am one of those that walked out of my mortgage during the housing crisis, however, my credit record does not reflect what my financial status and financially able to afford house payment. Well, during the process, they gave me a difficulty time and put the house I was interested in back in the market 5 times!!!! Opendoor really wanted to go cancel my contract as they were getting a lot of offer to the home, I happened to be the 1st one to make an offer, fast forward, I was able to closed on the home and love the home. Opendoor has a cool business concept and it worked for me as I was able to move in a really great neighborhood and much closer to my workplace. The reason I gave the 2 stars is their lack of integrity and much of that is because of their business model--they want to sell houses fast--each day the house is on the market--they lose $$. I just hope they have more compassion to people who are genuine and serious about home buying. And also be honest to consumer---your website states avg of 7% fees but in my case it was 12% + cost of repairs.
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