Experience using Opendoor as agent for buying a home

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Topic Author
siker
Posts: 58
Joined: Tue Aug 14, 2018 3:10 pm

Experience using Opendoor as agent for buying a home

Post by siker »

Hi, I am considering using opendoor as my agent for buying a home. First time buyer with little experience buying a home. I have seen a few posts in Bogleheads about selling on opendoor but could not find anything on buying. So far my experience with them for touring homes has been smooth.

If you have used them for buying a home, could you share your experience?
sabhen
Posts: 347
Joined: Sat Feb 27, 2016 1:03 am

Re: Experience using Opendoor as agent for buying a home

Post by sabhen »

Topic Author
siker
Posts: 58
Joined: Tue Aug 14, 2018 3:10 pm

Re: Experience using Opendoor as agent for buying a home

Post by siker »

I read that before posting, the discussion there is focused more on selling to opendoor.
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8foot7
Posts: 3471
Joined: Mon Jan 05, 2015 7:29 pm

Re: Experience using Opendoor as agent for buying a home

Post by 8foot7 »

The OpenDoor offer for our home, which we got a couple of months ago alongside an actual appraisal for a refinance, was $150,000 under fair market value per the appraisal, which compared to two other homes recently sold in the neighborhood after the appraisal was performed was still low.
You're paying a steep price for convenience. That may be OK with you.
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