Opendoor can be a worthwhile option for homeowners needing a fast, hassle-free home sale. The company buys homes as is — meaning no worrying about scuffed paint or old carpet — and lets you pick your own closing date within a 60 day window.
But for sellers focused on getting the highest possible price, Opendoor likely isn't worth it. Opendoor's offers typically fall short of what you could earn through a traditional listing — costing sellers an average of 8–9% in lost profit potential ($26,376 on a $338,560 house). Sellers also pay a 5% service fee and get a bill for any repairs or improvements noted during Opendoor's inspection.
If you’re considering Opendoor, it’s essential to weigh the convenience against the potential financial trade-offs and explore competing cash offers to ensure you’re getting the best deal.
Clever Offers, for example, gives you the best of both worlds: speed and value. Compare cash offers for up to 100% of your home’s value or explore our 7-Day Sold program to attract serious buyers and maximize your profit. Sell on your timeline and on your terms—get started today and take control of your home sale.
Pros and cons of selling to Opendoor
Pros
- Hassle-free process (no staging or showings)
- Skip the repairs and sell your house as is
- Competitive offers compared to most 'we buy houses' companies
- Flexible closing dates (10–60 days)
Cons
- Offers often below market value
- 5% fee plus repair and closing costs
- Poor-condition homes may be ineligible
- Unpredictable repair costs
Opendoor is often praised for its simplicity and speed, but sellers' experiences can vary significantly. Insights from Reddit threads and other online reviews reveal a mix of positive and negative experiences.
The positives: Convenience and fair offers
Many sellers appreciate Opendoor's streamlined process and competitive offers, especially in hot markets.
“We sold our house to Opendoor and got more than we expected," one Reddit user shared. "The process was seamless, and they offered a fair price without requiring significant repairs. It was a relief not to deal with staging and showings.”
Another commenter echoed this sentiment, emphasizing speed as the main advantage: “We needed to sell fast to secure our dream home. Opendoor’s offer was slightly below market value, but it allowed us to close in just 14 days and move forward without the hassle of showings.”
The negatives: High fees and repair costs
Despite its advantages, several users flagged issues with Opendoor's fees and repair deductions.
One user noted, “Opendoor offered $370,000 but reduced it to $350,000 after repair costs. While the process was fast, the fees and deductions increased quickly.”
Others raised concerns about transparency and potential lowball offers. For instance, a commenter said, “They initially offered $505,000 but later dropped it to $450,000, citing market conditions. Their repair deductions seemed excessive, and I felt their final offer was unfair.”
Opendoor's high repair costs can be especially problematic when you're trying to time your home sale with the purchase of a new home. “I’ve had sellers get bait-and-switched,” realtor Melissa Young of Charlotte, NC, told us by phone. “By the time they realized repair credits were massive, their new home contract had closed.”
Does Opendoor pay a fair price?
As a general rule, Opendoor offers significantly more than what a typical investor would pay for your house. But most sellers will earn a lot less from Opendoor than they could from a traditional listing.
Our team's analysis of 409 homes bought and sold by Opendoor between May 2023 and June 2025 showed that Opendoor sold properties for an average of 8.79% more than it originally paid, averaging roughly $26,376 per home. Factoring in Opendoor's 5% service fee, sellers paid an average premium of nearly 14% for the convenience of selling to Opendoor. That premium is on top of variable repair deductions and closing costs.
However, we also found evidence that the iBuyer paid more than market value for certain homes. Roughly 1 in 11 properties (9%) we analyzed sold for less than Opendoor's original purchase price.
“Here in Provo, Opendoor's offers have ranged from well above market to 30% under,” said realtor Luke Kochniuk with RE/MAX Associates Utah County, “so the unpredictability is real.”
Before deciding whether Opendoor's offer is worth it, we recommend having a realistic idea of your home's fair market value to compare with its offer. For the most accurate home value estimate, connect with an experienced local realtor for a free home valuation report. After receiving the report, you are not obligated to hire the realtor.
How close to market value does Opendoor pay?
| Avg. Opendoor purchase price | $338,560 |
| Avg. resale price (estimated market value) | $366,844 |
| Avg. price difference | $26,376 |
| Avg. % paid below market value | 8.79% |
How much does Opendoor charge in fees?
Opendoor charges four types of fees:
- Service fees: 5% of the final offer price
- Standard closing costs: Vary by home
- Repair deductions: Vary by home
- Late checkout fees, if applicable: Vary by home
Opendoor's 5% service fee is on par with competitors like Offerpad and Homeward, and is slightly less than the average realtor commission of 5.44%. However, it's more than you'd pay with a discount broker offering a more competitive commission rate.
In addition to Opendoor's service fee, you'll pay standard closing costs such as title, attorney, and HOA transfer fees. Closing costs generally amount to about 1% of your home sale price, but they could be more or less depending on the specifics of your transaction.
One of the less predictable expenses when selling to Opendoor is the amount it will deduct for repairs following a home inspection.
For Bradley Carpenter, who talked to us via Zoom about selling his home to Opendoor in 2022, the company charged $7,000 for repairs — just over 3% of the sale price. However, other home sellers claim to have been charged as much as $50,000 for repairs.[1]
Finally, if you need extra time to vacate the house past your closing date, Opendoor will charge a daily Late Checkout fee. While Opendoor doesn't specify the exact rate it charges, sources we've found cite figures ranging from $115 per day[2] all the way up to $750.[3]
Does Opendoor negotiate?
While Opendoor's offers are generally take-it-or-leave-it, some sellers have successfully negotiated with Opendoor by leveraging a competing offer.
For example, home seller Bradley Carpenter negotiated $3,000 off Opendoor's initial repair estimate by asking them to match an offer he'd gotten from competitor Offerpad.
Opendoor's offers are valid for seven days. If you're considering an Opendoor offer, we strongly recommend using that time to weigh your options.
If there are other iBuyers in your area, compare their offers to Opendoor's. You can also ask a local realtor for a comparative market analysis showing what your home is likely worth relative to comparable listings in the area.
Compare cash offers from trusted home buyers in your area, plus get an expert's opinion of your home's fair market value. Clever Offers is free, and there's no obligation to move forward with an offer. Simply tell us about your selling situation, and we'll do everything we can to get you the best possible offer on your home.
Get Cash OffersHow quickly will I sell my home with Opendoor?
Opendoor's speed is a major advantage over the typical home sale process. Opendoor can make an offer for your home in less than 24 hours and close in as few as 14 days. That's much faster than the average time to close, which is 86 days as of 3/1/2024.
The benefit of Opendoor’s quick closing times isn't just speed for speed’s sake. In real estate, time really is money.
The time between reaching an agreement and closing a sale is often a difficult period when appraisals and contingencies can jeopardize a traditional sale. And as you wait to close, you still have to pay carrying costs — like your mortgage, insurance, and maintenance expenses.
Is Opendoor's convenience worth the cost?
Opendoor offers the speed, simplicity, and convenience of an all-cash offer — allowing sellers to avoid repairs and showings, and move on their own timeline.
However, iBuyers like Opendoor represent a small fraction of the overall market (less than 0.5% of all purchases) — meaning the vast majority of sellers end up taking another route.[4]
Some of Opendoor's declining market share has to do with changes in the broader house market, which have forced Opendoor to be more conservative with their offers.
"Before 2022, their offers were coming in close to market value," says realtor Christopher Trumbach who operates a brokerage in Orlando, FL. "But when the market changed, they started reducing their numbers. They're not really competitive anymore, and I haven't had people interested in looking at them too much recently.”
"When the iBuyers were in full force, there was a shortage of properties," adds Andrew Velez, a realtor based in Coral Springs, FL. "Typically a property would last on the market for less than a week and sell for above asking."
"At this point, properties are sitting around for 8 or 9 months," Velez continues. "I don't have people that are willing to dump it for less than it's worth. I have more people that are willing to say, 'You know what?I'd rather take it off the market and rent it or just not move.'"
FAQs about Opendoor
Are Opendoor's cash offers legit?
Yes, Opendoor is a legitimate company. Although Opendoor may not pay your home's full market value, it makes all-cash offers that allow you to close on your sale in as few as 15 days. Read our full Opendoor review to learn more!
How much will Opendoor pay for my house?
Opendoor typically pays much less than what your house could sell for on the open market, and it usually won’t negotiate. But since you have no obligation to accept an Opendoor offer, you can walk away if you decide it's not worth it.
Is Opendoor too good to be true?
Opendoor has a lot of pros compared to other iBuyers. It has reasonable fees (a 5% service fee) and operates in more markets than other cash buyers. However, Opendoor could be considered too good to be true due to its drawbacks. When you sell with this company, there's very little room to negotiate, and you'll likely receive less money than you would by selling your home on the open market.
Is an Opendoor offer guaranteed?
For sellers: The all-cash offer is unlikely to fall through, although it's not guaranteed. Some reviews mention Opendoor canceling offers at the last minute, leaving sellers in difficult situations..
For buyers: Opendoor offers a 90-day buyback guarantee, which allows you to return a home that you purchased under certain conditions. If your home qualifies, you'll need to pay a 3% return fee, and Opendoor will refund the purchase price of your home minus any seller concessions, commission refunds, and repair costs.
Are there any lawsuits against Opendoor?
Opendoor faced disciplinary action from the North Carolina Real Estate Commission in March 2022 due to broker misconduct in three different residential transactions. According to the commission, Opendoor brokers failed to disclose outstanding issues on the properties and, in some cases, falsely advertised certain features of the homes. The commission gave Opendoor 18 months of probation, along with 12 months probation to the two brokers involved in the violations.
In August 2022, the Federal Trade Commission took action against Opendoor for "cheating potential home sellers by tricking them into thinking they could make more money selling their home to Opendoor than on the open market" with a realtor. As part of its FTC settlement, Opendoor agreed to pay a $62 million fine.
Does Opendoor pay closing costs for the buyer?
Opendoor doesn't pay closing costs for the buyer or the seller. Learn more about how closing costs work with Opendoor.
