Whether you sell directly to Opendoor, on our exclusive marketplace, 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 offer, and doesn’t apply if you sell to another buyer.
What’s inside a finalized Opendoor offer
After you’ve completed a virtual walkthrough and home assessment, you may 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 (5%): We charge a 5% fee on every home we buy. This is our charge for enabling a fast, convenient sale. This is how we operate our business, similar to the way that commission works for a realtor.
Repair charge (TBD) : These costs vary depending on the condition of the home. We deduct costs for anticipated repairs from your finalized offer so you don’t have to pay cash up front. Some examples of common repairs include paint, roofing, flooring, and HVAC. You don’t need to do any of these yourself. We don't always make the repairs, instead we might offer the buyer a discount or credits.
Closing costs (~1%): These are part of every home sale and include things like title insurance and appraisal fees. These costs may differ based on the situation — some costs are required by the lender, others may be required by the government.
Net proceeds: 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 firstname.lastname@example.org.