Opendoor is taken huge losses because they buy the house for a lot, but they end up taking a loss when they sell it and their houses stay on the market for months. Their strategy only benefits the sellers, but as far as them making profits, they're losing.
I WRITE A NEGATIVE REVIEW ABOUT SELLING YOUR HOUSE WITH OPENDOOR AND I GO BACK SECONDS LATER AND ITS GONE... DISSAPEARED. I WILL KEEP WRITING THE NEGATIVE REVIEW 5 TIMES A DAY IF I HAVE TO.
Although this initially comes off as a legitimate pitch for the company, I am concerned about the cherry picking of who to answer and not answer on the small amount of questions being asked here. After viewing how the creator has handled the comments, I’m kind of surprised the entire video hasn’t been taken down as the bottom line reflects negatively on the company. Thus it makes me wonder if the creator is under an obligation and has regrets. Disingenuous?
you said the house like yours was 550000 then they offered you 614500, i take it yours had upgrades which is nice i bet , just curious what was the amount they take for everything because im nervous because im just on my own and cant afford to screw this up. im already the family not so popular guy lol. so im needing to go this route and need to reassurrance. can you help me with some details
Thanks for sharing your experience and I hope you had a great time on your road trip. So, did you sell your house in May 2022? Was Opendoor able to sell it to someone else after you sold to them? If yes, did they sell it for more than they paid you? The reason I am asking these questions is to understand how good Opendoor is with their offers and business. Yes, the experience may be good from a seller perspective but if they don't do a good job of making money then the company will bankrupt and we all will go back to old ways of buying and selling the houses which is not very efficient. Thanks for your time to reply.
overall it's not good from a seller or buyer perspective.... that's why that company has imploded several times and been fined by many states Mark Spain is basically the same, but only allowed to operate in handful of states.
Hi I have another question for you. I saw that Opendoor is now having to pay a $62 million dollar settlement due to shady practices. It was stated they offered far less than then traditional way of selling. The FTC- is now going after them and will be receiving the settlement. This is supposed to be reimbursed to the sellers. Do you still feel it was a very fair offer? Just curious since I'm still considering selling with them soon. Thank you!
I'm glad your experience went well. I have a question. Do you recommend for people that owe on a mortgage receive the OD offer and it's $47,000 above what they owe sell to OD. I ask because I am hearing horror stories on the fees and repair deductions OD deducts. I'm afraid if I sold to them they would eat up the majority of my $47,000 profit. Thanks
Hi Sean, I want to get the most information as possible but not sure what to ask. So what are some questions you asked Opendoor when you sold your home?
I was most interested in the process and if there were any possible issues with the process so most of my questions revolved around. I can tell you they answered everything and I felt there were no dumb questions so ask them everything.
Hi Sean! I have a question. I’m working on a different selling experience where we come for 1.5-2hours do our inspection and 360-degree video tour. After that you won’t have any showings, needed repairs, and every single offer that is placed (online) comes in your inbox. Once you see an offer you like you can accept it and sign deed of sale immediately and 5-10 business days later you can close. Total commission for this would be 1%. We’re starting in The Netherlands but if this process is out, would you (based on my description) choose us or Opendoor? Feike
Selling Real Estate in the United States not only different from all the world but per US State... so. What could you expect from doing such a big business with a company based in other country. Just Saying 🤷🏽♀️. I am a licensed Real Estate agent in the State of Texas.
@@edithu1638 Typical agent response. Hating on companies delivering better value propositions to home-sellers. Real estate agents are outdated, adapt! Saying you're a licensed agent doesn't give you authority to talk about this subject, it only tells us a lot about your ethics.
How did you coordinate moving into your next house? I assume closing would be longer on the new house you buy, than the 12 days to sell your existing home.
Nice. Do you think digital method Opendoor much better than traditional method selling a house ( Look for real estate agent, open house schedule, etc.)?
Hello- so you stated you have to pay commission fees, closing fees and repair fees also- correct? Do you mind sharing how much you actually had in net proceeds then? I'm considering opendoor as well but also considering a company called Sundae- that gives multiple competitive investor bids at once. So not really sure which route i will take just yet! Thanks in Advance!
@@mikatalk6025 Hello, the flat fee for I believe every transaction is 5%. The closing costs were reduced to .4% from 1% and that more then made up for the repairs (I am on our 78 day road trip and I d not have the exact number but it was around $3600 for repairs). I was very happy with the final numbers. Closing costs may be different where you are so you can ask Opendoor.
My son sold his house to open door for 20k more than what the realtor said his house was worth.
I am a huge investor in Opendoor. Thanks for sharing your review. It is helpful.
Very welcome!
Yes im investing too and holding big on open door .
Opendoor is taken huge losses because they buy the house for a lot, but they end up taking a loss when they sell it and their houses stay on the market for months. Their strategy only benefits the sellers, but as far as them making profits, they're losing.
Thank you for sharing I’m considering using them
Hi 👋🏽 did you ended up using their services? Just heard about them. Thanks
@@sildy2331 I did not. They gave me a very low ball offer. So I ended up listing it with a realtor and it sold for the price I wanted.
Thanks for posting! I saw the Opendoor online info too.
I hope they come to the UK as well. I want to sell my London house same way like this dude. Any similar companies in the UK? Cheers
I WRITE A NEGATIVE REVIEW ABOUT SELLING YOUR HOUSE WITH OPENDOOR AND I GO BACK SECONDS LATER AND ITS GONE... DISSAPEARED. I WILL KEEP WRITING THE NEGATIVE REVIEW 5 TIMES A DAY IF I HAVE TO.
What is your negative experience?
You scream to much
@@RockinRack - please do your review and post video
You said 7 free days, so you mean that you have 7 days to move out AFTER closing???
How much was the commission and closing fees costs?
Although this initially comes off as a legitimate pitch for the company, I am concerned about the cherry picking of who to answer and not answer on the small amount of questions being asked here. After viewing how the creator has handled the comments, I’m kind of surprised the entire video hasn’t been taken down as the bottom line reflects negatively on the company. Thus it makes me wonder if the creator is under an obligation and has regrets. Disingenuous?
Thank you for this video
Thanks for the info.
you said the house like yours was 550000 then they offered you 614500, i take it yours had upgrades which is nice i bet , just curious what was the amount they take for everything because im nervous because im just on my own and cant afford to screw this up. im already the family not so popular guy lol. so im needing to go this route and need to reassurrance. can you help me with some details
Thanks for sharing your experience and I hope you had a great time on your road trip. So, did you sell your house in May 2022? Was Opendoor able to sell it to someone else after you sold to them? If yes, did they sell it for more than they paid you?
The reason I am asking these questions is to understand how good Opendoor is with their offers and business. Yes, the experience may be good from a seller perspective but if they don't do a good job of making money then the company will bankrupt and we all will go back to old ways of buying and selling the houses which is not very efficient. Thanks for your time to reply.
Did y receive an answer from anywhere else?
overall it's not good from a seller or buyer perspective.... that's why that company has imploded several times and been fined by many states
Mark Spain is basically the same, but only allowed to operate in handful of states.
Hi I have another question for you. I saw that Opendoor is now having to pay a $62 million dollar settlement due to shady practices. It was stated they offered far less than then traditional way of selling. The FTC- is now going after them and will be receiving the settlement. This is supposed to be reimbursed to the sellers. Do you still feel it was a very fair offer? Just curious since I'm still considering selling with them soon. Thank you!
How did you end up selling your home? How it it work out for you?
I’m concerned with all their hidden fees and it seems like they just say $30k worth of work on house, from my research
Why is there a commission if you sell to OpenDoor? iBuyers typically don't take commission.
I'm glad your experience went well. I have a question. Do you recommend for people that owe on a mortgage receive the OD offer and it's $47,000 above what they owe sell to OD. I ask because I am hearing horror stories on the fees and repair deductions OD deducts. I'm afraid if I sold to them they would eat up the majority of my $47,000 profit. Thanks
Repair deductions are outrageous!
Thank you for sharing this
Thank you
They gave you all the funds and let you stay in the house for another week??? Something seems odd.
what did OS national title company need from you to close on the house ?
Do they put a sale sign in yard? Can you sell incognito? How were you paid?
They give me an offer and now a house down the street sells for 100 000 more than what they offered me. There offer isn’t fair
you sound like your work for open door
When he says discriptve words about people like fantastic and super you know it’s all bs, amazing and blah blah blah
Hi Sean, I want to get the most information as possible but not sure what to ask. So what are some questions you asked Opendoor when you sold your home?
I was most interested in the process and if there were any possible issues with the process so most of my questions revolved around. I can tell you they answered everything and I felt there were no dumb questions so ask them everything.
Was your final offer more than your initial offer?
The final offer was a little more then the initial offer.
Hi Sean! I have a question.
I’m working on a different selling experience where we come for 1.5-2hours do our inspection and 360-degree video tour. After that you won’t have any showings, needed repairs, and every single offer that is placed (online) comes in your inbox.
Once you see an offer you like you can accept it and sign deed of sale immediately and 5-10 business days later you can close.
Total commission for this would be 1%.
We’re starting in The Netherlands but if this process is out, would you (based on my description) choose us or Opendoor?
Feike
What is the name of the company?
Selling Real Estate in the United States not only different from all the world but per US State... so. What could you expect from doing such a big business with a company based in other country. Just Saying 🤷🏽♀️. I am a licensed Real Estate agent in the State of Texas.
@@edithu1638 Typical agent response. Hating on companies delivering better value propositions to home-sellers.
Real estate agents are outdated, adapt!
Saying you're a licensed agent doesn't give you authority to talk about this subject, it only tells us a lot about your ethics.
sounds like a niche market.. and extremely limited options....
How did you coordinate moving into your next house? I assume closing would be longer on the new house you buy, than the 12 days to sell your existing home.
We did not move into a new house we are on a 78 day road trip to find our next home elsewhere
Nice. Do you think digital method Opendoor much better than traditional method selling a house ( Look for real estate agent, open house schedule, etc.)?
I would absolutely 100% do it again so yes it was better for me.
@@bluetoothsean2688 good to know
Hello- so you stated you have to pay commission fees, closing fees and repair fees also- correct? Do you mind sharing how much you actually had in net proceeds then? I'm considering opendoor as well but also considering a company called Sundae- that gives multiple competitive investor bids at once. So not really sure which route i will take just yet! Thanks in Advance!
@@mikatalk6025 Hello, the flat fee for I believe every transaction is 5%. The closing costs were reduced to .4% from 1% and that more then made up for the repairs (I am on our 78 day road trip and I d not have the exact number but it was around $3600 for repairs). I was very happy with the final numbers. Closing costs may be different where you are so you can ask Opendoor.
@@bluetoothsean2688 thank you for the feedback! Hope you've enjoyed your trip! :-)
When do they pay off the excisting mortgage
Oh yeah, after now reviewing the channel content, this is definitely disingenuous 🙄
How soon until you receive funds? Congratulations 🍾
We got the funds the day after we closed only because it closed later in the day,
No one come to inspect the house inside?
Nope just the video call
They do in some cases especially if the house is old.
Sold my house to them in 2019. My house was a 2004 and someone did come for an inspection. It was all quick and easy process.
They low balled me
Offcourse they do you think with no open house that you get top dollar. ?!
Nope, hence you checkout several of these investor companies, then compare for a better deal.