Whether you sell directly to Opendoor or on the multiple listing service (MLS) — all of our ways to sell include an offer from Opendoor. That offer is yours to consider as you explore your selling options.
All the info in this article is all about the Opendoor final offer, and doesn’t apply if you sell to another buyer.
What’s inside a finalized Opendoor offer
Most customers will need to complete a home assessment, then you can receive a finalized offer from us. When that offer arrives, you’ll see a breakdown of our charges and additional costs associated with the sale.
Here’s what’s inside:
Service charge: Our service charge covers three things:
- Transaction costs — Contract prep, escrow and title coordination, and closing support.
- Operational costs — Finding the next buyer, agent fees, HOA fees, utilities, and maintenance while we own the home.
- Market risk — When Opendoor buys your home, we become the owner and take on what happens in the housing market while we hold it. That means we’re exposed to things like changing mortgage rates, slower or busier seasons for buyers, and shifts in local supply and demand that affect how quickly a home sells and for how much.
Because these factors are different in every city and season, the risk we take on varies. Our service charge helps cover this broader market risk so you get a certain sale and clear timeline while we carry the uncertainty for you.
Condition adjustment:This amount helps us cover our costs in preparing, maintaining, and reselling the homes we acquire. It's based on our assessment of the age and condition of your home and our experience re-selling thousands of homes
Costs outside of Opendoor (title and escrow): These are estimated costs like lender fees, escrow, and title costs paid to other parties. These costs may differ based on the situation — some costs are required by the lender, others may be required by the government.
When you sell to Opendoor, you can expect to pay all title insurance costs (including endorsements, title searches, and examinations), any realty transfer taxes due to state or local authorities, and half of the settlement or escrow fee.
Estimated net proceeds after outside costs: This is the remaining amount after all charges and costs have been deducted from the finalized offer. It’s what the seller takes away from the sale.
If you have any questions about how Opendoor’s offers or fees work, contact our support team at support@opendoor.com.