We built a new home in the Las Vegas area and thought we would give Opendoor, OfferPad and ZHome a chance before we listed with an agent. No obligation so why not? I was honestly surprised that 2 of the offers (Opendoor and ZHomes) came in close to market value. For the record, OfferPad was 20% below. I guess they are more interested in distressed property.
ZHome gave a slightly lower offer but they would close in conjunction with my new home allowing me to use the money for my down payment. They also stated they would beat my best offer by $1000. When I gave them a chance to beat Opendoor's offer, they backed peddled and would not re-quote.
Opendoor is very thorough with their inspection but will give you the opportunity to make repairs yourself or deduct the costs from your contract. However, their repair costs are reasonable and you may be able to negotiate them.
You will still pay fees with all of these companies. My net payment was about the same as if I had gone through the traditional listing process. I went with Opendoor for the following reasons:
- No showings
- Closing when I wanted
- No contingencies or hassle of offers falling though and re-listing
The entire process was painless. Everyone from the inspection team to the closing agents were professional and responsive. I recommend you get a quote before hiring a listing agent. You have nothing to lose.