Opendoor iBuyer Program Information

Introducing Opendoor

Opendoor is the nation’s largest iBuyer and the pioneer of the iBuying model. They opened their doors in 2014 to solve the problem of timing when it comes to selling your existing home in order to buy a new home. Opendoor gives sellers the freedom to move with ease.

Opendoor Markets

Opendoor is currently buying and selling homes in:

Atlanta GA House

Atlanta, GA

Median home value $257,700

Austin TX House

Austin, TX

Median home value 370,700

Charlotte NC House

Charlotte, NC

Median home value $226,100

Cincinnati OH House

Cincinnati, OH

Median home value $144,200

Columbus OH House

Columbus, OH

Median home value $144,200

Dallas TX House

Dallas, TX

Median home value $409,800

Denver CO House

Denver, CO

Median home value $422,700

Durham NC House

Durham, NC

Median home value $230,000

Fort Worth TX House

Fort Worth, TX

Median home value $197,500

Frisco TX House

Frisco, TX

Median home value $416,158

Garland TX House

Garland, TX

Median home value $209,050

Grand Rapids MI House

Grand Rapids, MI

Median home value $163,000

Houston TX House

Houston, TX

Median home value $186,700

Indianapolis IN House

Indianapolis, IN

Median home value $143,800

Jacksonville FL House

Jacksonville, FL

Median home value $275,000

Las Vegas NV House

Las Vegas, NV

Median home value $274,100

Los Angeles CA House

Los Angeles, CA

Median home value $688,700

Louisville KY House

Louisville, KY

Median home value $161,900

Memphis TN House

Memphis, TN

Median home value $85,800

Minneapolis MN House

Minneapolis, MN

Median home value $267,100

Nashville TN House

Nashville, TN

Median home value $263,000

Oklahoma OK House

Oklahoma, OK

Median home value $131,000

Orlando FL House

Orlando, FL

Median home value $330,000

Phoenix AZ House

Phoenix, AZ

Median home value $242,100

Portland OR House

Portland, OR

Median home value $417,600

Raleigh NC House

Raleigh, NC

Median home value $277,400

Richmond VA House

Richmond, VA

Median home value $217,500

Riverside CA House

Riverside, CA

Median home value $409,800

Sacramento CA House

Sacramento, CA

Median home value $326,400

Salt Lake UT House

Salt Lake, UT

Median home value $326,400

San Antonio TX House

San Antonio, TX

Median home value $177,400

St. Louis MO House

St. Louis, MO

Median home value $221,300

St. Paul MN House

St. Paul, MN

Median home value $221,300

Tampa FL House

Tampa, FL

Median home value $365,000

Tucson AZ House

Tucson, AZ

Median home value $189,200

Washington DC House

Washington, DC

Median home value $563,200

FAQ about Opendoor:

Opendoor is the largest national iBuyer, or instant buyer in America. Pioneers of the iBuying program model, Opendoor was founded with the mission to give sellers the freedom to move more easily.

Opendoor works by first determining the current market value of your home and then offering you cash to buy your home. If you choose to accept their offer, you can then decide your closing date and close on the sale within 60 days. If you prefer to list your home on the open market, Opendoor will help you do that instead.

Opendoor is the nation’s largest iBuyer and is currently buying and selling homes in the following cities: Atlanta, GA, Austin, TX, Charlotte, NC, Dallas-Fort Worth, TX, Denver, CO, Houston, TX, Jacksonville, FL, Las Vegas, NV, Los Angeles, CA, Minneapolis-St. Paul, MN, Nashille, TN, Orlando, FL, Phoenix, AZ, Portland, OR, Raleigh-Durham, NC, Riverside, CA, Sacramento, CA, Salt Lake City, UT, San Antonio, TX, Tampa, FL, and Tucson, AZ.

Opendoor was founded by two entrepreneurs, Eric Wu and Ian Wong, and is still operated by the founding duo.

It depends what Opendoor estimates your home is worth, and that estimate is based on the location, size, and age of your home, as well as comparative sales and current market conditions. To determine your home value, Opendoor uses industry data and assessment algorithms.

To get an instant idea of what an iBuyer like Opendoor would offer in cash for your home, simply enter your address in our iValuation tool.

If you’re wondering how much commission Opendoor charges, it’s roughly the same as a traditional real estate agent’s commission. Opendoor fees are currently 6.8% of the sale price of your home.

To date, Opendoor has purchased tens of thousands of homes and their annual purchase rate is expected to continue to grow as they expand into new markets across the country. In fact, they claim to receive a new inquiry for a cash offer every 60 seconds.

The scale of the Opendoor iBuyer program enables them to purchase homes in a wider price range than some of the other, smaller iBuyers. That said, Opendoor still gravitates towards single family homes that are priced between $300,000 and $600,000.

Opendoor typically responds within 24 hours with a cash offer. If they have additional questions, they might contact you for more information before providing a cash offer to buy your house.

No, as is standard in the industry, closing costs are an extra fee, just like taxes, that you are required to pay with the sale of your home.

Yes, you can negotiate with Opendoor just like you would with a traditional real estate agent.

Opendoor lets you close on the sale fast. Their average closing time is between 14 and 60 days.