Closed on the house today

Excited Ric Flair GIF
Home Ownership
 
MarkOU said:
We sold through OpenDoor. Facinating experience. Stress-free. I got my funds less than 5 hours after signing paperwork. If you looking to sell quick, I highly recommend.
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Did you get above what your asking price was?
 
MarkOU said:
We sold through OpenDoor. Facinating experience. Stress-free. I got my funds less than 5 hours after signing paperwork. If you looking to sell quick, I highly recommend.
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I have been wondering how that works. I have had people buying houses from open door found it to be a nightmare.
 
Peter Gozintite said:
I have been wondering how that works. I have had people buying houses from open door found it to be a nightmare.
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I have heard the same about buying from them. Most of their negative reviews are from buying. We're not buying thru them though but selling process was amazing.
 
I sold a house thru open door a few years back. You get your money fast but you usually leave a lot of money on the table. I found the ticky tacky fees to be annoying but there are sellers out there who need the money quickly and that’s the service they offer.

I’ve never bought thru them.
 
Opendoor is pretty easy. I've sold three of my neighbors houses with it so far. Making a KILLING in this market selling houses I don't own.
 
Good seller's market, but how the hell do you not lose money buying?
 
Breaking news, I have some OPEN in my portfolio. So I technically just bought OP's house. :yes:
 
MarkOU said:
I have heard the same about buying from them. Most of their negative reviews are from buying. We're not buying thru them though but selling process was amazing.
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Do you think you left money on the table, or did they give you a top of the market bid?
 
Peter Gozintite said:
Do you think you left money on the table, or did they give you a top of the market bid?
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Any time you limit competition you leave money on the table. The question is whatever you left on the table worth the hassle? A bidding war, and that's what happens around this area, could net you another 5% to 7% over market value. But you are then going to have to deal with inspections, escrow, closing costs, mortgage lender fees, etc...you know the drill better than me actually.

So would someone be willing to give up 5% in order to save those costs and hassles? I'd be really tempted, and that's why open-door and Zillow and all those places exist. They bet you will be willing to take slightly less for no hassle.
 
fordman84 said:
Any time you limit competition you leave money on the table. The question is whatever you left on the table worth the hassle? A bidding war, and that's what happens around this area, could net you another 5% to 7% over market value. But you are then going to have to deal with inspections, escrow, closing costs, mortgage lender fees, etc...you know the drill better than me actually.

So would someone be willing to give up 5% in order to save those costs and hassles? I'd be really tempted, and that's why open-door and Zillow and all those places exist. They bet you will be willing to take slightly less for no hassle.
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I think the biggest selling point in today’s market is the ability to make a non-contingent offer on the house you’re buying. Figure realtor fees and other shit costs you 10% or so if you sell traditionally. What’s the discount on this type of sale relative to that?
 
fordman84 said:
Any time you limit competition you leave money on the table. The question is whatever you left on the table worth the hassle? A bidding war, and that's what happens around this area, could net you another 5% to 7% over market value. But you are then going to have to deal with inspections, escrow, closing costs, mortgage lender fees, etc...you know the drill better than me actually.

So would someone be willing to give up 5% in order to save those costs and hassles? I'd be really tempted, and that's why open-door and Zillow and all those places exist. They bet you will be willing to take slightly less for no hassle.
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I dont think OpenDoor is going to cut their own throat. I am positive they are coming in with offers that they are sure they can turn a proffit on. they also put a few bucks into the homes. Most get new flooring and paint, and painting cabinets to appear modern. At least thats what I have seen. So they know they have to put some money into it, to get the top dollar, and are probably cutting people out of quite a bit of money.

Also percentages like 5% dont seem like much, until youre talking about 500K.
 
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