I heard a commercial (Dallas area) for opendoor on the radio. That night I got online and submitted my information. Within 48 hours I received the offer.
We double checked with a real estate agent to make sure the contract looked good and we were protected. We signed and the process began with scheduling an inspection. After the inspection the offer was basically reduced by $20k in repairs and upgrades. Which is about what I calculated was needed in the original questionnaire. We had lived at this property for 15 years and never made any upgrades so I was realistic about those cost.
We basically were not in a position to get the funds needed to make these upgrades and repairs. We felt even if we did, then put the property on the market and went through all the hassle of selling, our net proceeds wouldn't be that much better.
Once we agreed on the amended price of repair cost we chose our closing date. Opendoor took care of everything and we closed and funded the date we chose.
Opendoor may not be for everyone but it was a great option for our situation. Thanks Opendoor.