Frequently Asked Questions

Opendoor-Owned Exclusives are homes owned by Opendoor that are offered exclusively to our customers for 14 days before we list them to the public. We have heard from our customers how hard it can be to purchase a home, and how stressful the process can be, so we decided to build something better.

We give our customers the opportunity to purchase these homes before anyone else and make the purchasing process simple and streamlined.

We’ve streamlined the process of purchasing an Opendoor-Owned Exclusive into 6 easy steps:

1. Tour the home
Any Opendoor-Owned Exclusive displaying the “Self tour instantly” button is open for self-tours 8am-7pm local time any day of the week. When you arrive at the home, you can either follow the instructions on the door or call (855) 476-0049 and we’ll give you access.

2. Set up and sign your contract
Each Opendoor-Owned Exclusive has a no-haggle price, so you don’t have to agonize over what to offer or whether you’ll lose out to another buyer paying cash. We take a first-come, first-served approach—the first person to sign a contract will be under contract to purchase the home, no matter how you choose to finance the purchase. If you’d like to move forward with a contract, visit the property page for that Exclusive and click Buy. We’ll ask you for some information needed to generate a contract, and then we’ll send over a contract via email for you to sign. You’ll have 48 hours to sign the contract—during that time, the home will be reserved for you and nobody else will be able to purchase it. We use the real estate contract adopted by the Texas Real Estate Commission, which is the same contract you will often see used in Texas.

3. Submit your earnest money deposit
After signing the contract, you’ll have 5 days to submit your earnest money deposit. The deposit is set at 1% of the purchase price. We’ll send you full details on how to submit the earnest money deposit once you sign your contract. There is no option fee required on Opendoor Exclusives.
With Opendoor-Owned Exclusives, you can back out of the purchase any time until closing and for any reason, and receive a full refund of your earnest money deposit.

4. Submit your pre-approval letter
If you plan to finance the purchase of your Opendoor-Owned Exclusive, you’ll have 5 days after signing the contract to submit your pre-approval letter. Your pre-approval must reflect credit verification.
If you decide to purchase the home with cash, you’ll need to submit proof of funds (e.g., a bank statement) within 5 days of signing the contract.
If your purchase of an Opendoor-Owned Exclusive is contingent on the sale of another home, the home you’re planning to sell must already be in contract and any contingency periods must end no later than 5 days after the contract for the Exclusives home is signed. We’ll send you full details on how to submit these materials once you sign your contract for the Opendoor-Owned Exclusives home.

5. Schedule inspections and finalize details with your lender
We encourage you to schedule a full home inspection so that you can feel comfortable with your purchase. We will work with your inspector to give them access to the home—just give us their details and desired inspection time, and we'll do the rest.
If you're financing the home purchase, you'll also work with your lender to finalize your loan. As part of that process, your lender will typically order an appraisal, which is an independent valuation of the home. One of the benefits of buying an Opendoor Exclusive is that it comes with an Appraisal Price Match Guarantee. Learn more.

6. Close and get the keys!
You control your closing timeline—you can choose any close date, up to 35 days after signing the contract. You can also reschedule your close date without any penalties within that 35-day period if something unexpected comes up. If you love a home but are unable to close within a 35-day period, please give us a call to discuss your options.

With Opendoor-Owned Exclusives, we went back to the drawing board to design a purchasing experience that’s simple, certain, streamlined and that puts you in control.
Here are some of the differences —

1. No bidding wars. The price you see is the price you pay
Each Opendoor-Owned Exclusive has a transparent, no-haggle price. If you like a home, you can be under contract in a few clicks and without worrying about losing out to a higher bid.

2. Opendoor-Owned Exclusives feature preferred pricing
We offer you exclusive pricing when you purchase an Opendoor-Owned Exclusives home. The Exclusives price is lower than the future public list price.

3. Choose your own close date and how you want to pay
With Opendoor-Owned Exclusives, there is no advantage to paying with cash or closing sooner. We put all buyers on equal footing. You can use any lender and choose any close date up to 35 days out from signing the contract.

4. Appraisal Price Match Guarantee
Buy with peace of mind. When you buy an Opendoor-Owned Exclusive, if the home appraises for less than the purchase price on your contract, we’ll reduce the price by up to $50,000 to match the appraised value under our Appraisal Price Match Guarantee. Learn more.

5. Back out anytime and get a full refund of your earnest money deposit
If you change your mind at any point in the process before closing, you can back out with zero penalties. We want you to feel great about the purchase of your next home.

6. Flexible self-tour schedule
Any Opendoor-Owned Exclusive displaying the “Self tour instantly” button is open for self-tours 8am-7pm local time any day of the week. When you arrive at the home, you can either follow the instructions on the door or call (855) 476-0049 and we’ll give you access.

These are some of the differences—but other things haven’t changed! There are things we know you rely on to feel confident in a home purchase, and we’ve kept these consistent with a typical real estate transaction.

1. We use the Texas real estate contract adopted by the Texas Real Estate Commission.
This is the same contract typically used for home purchases in Texas.

2. You’ll have the ability to order a full inspection of the home.
We encourage you to schedule a full home inspection with a licensed inspector so you can feel comfortable with and informed about your purchase. You’re welcome to use an inspector of your choice, or you can contact us for a list of local options.

During the 14-day Exclusive period, Opendoor-Owned Exclusives are available only on our website. If a home is unsold after that period, you’ll be able to find it on the Opendoor app, the MLS, and other real estate websites you might use.

Once the 14-day Exclusive period ends, the home is listed to the public, typically with a higher list price. You’ll still be able to buy it, but it will be publicly listed and exposed to more competition.

We release new homes daily. You can sign up to our email list to have new Exclusives delivered directly to your inbox.

By saving or subscribing to email updates for a home, you’ll be notified as soon as it becomes available to purchase. You’ll also be able to see a list of these homes under “Your homes” when you’re logged in to our website.

Any Opendoor-Owned Exclusive displaying the “Self tour instantly” button is open for self-tours 8am-7pm local time any day of the week. When you arrive at the home, you can either follow the instructions on the door or call (855) 476-0049 and we’ll give you access.

You can choose to buy any Opendoor Exclusive either with or without an agent.

Opendoor Exclusives is designed to be a self-service product and enable buyers to purchase directly. If you work with Opendoor directly, you’ll have access to our specialists 7 days a week. You can call us at (512) 706-9938, email us at exclusive@opendoor.com, or chat with us on the Exclusives website 7 days/week from 8AM-7PM local time.

If you prefer to work with an agent, you are welcome to do so. The prices displayed on our website do not include any commissions, so these would need to be added. You can do this when you set up your contract.

We use the real estate contract adopted by the Texas Real Estate Commission. Setting up your contract is easy—just give us some details like your full name and when you want to close, and we’ll send over a contract you can sign electronically.

If you plan to finance the purchase of the home, you’ll have 5 days after signing the contract to submit your pre-approval letter. Your pre-approval must reflect credit verification.

If you decide to purchase the home with cash, you’ll have 5 days to submit proof of funds (e.g., a bank statement).

Many Opendoor-owned homes cannot be purchased using an FHA loan due to an FHA rule that requires the home to be owned by the seller for more than 90 days. If you need assistance choosing a different type of loan to finance your home purchase, please contact us for a referral or discuss with your lender.

Yes, you can use a VA loan to buy an Opendoor-Owned Exclusive!

Fees or commissions charged by a real estate agent or broker in connection with a VA loan may not be charged to or paid by the veteran-purchaser; as such, if you plan to Finance Agent Commissions in conjunction with obtaining a VA loan, please contact us.

We encourage buyers to order an inspection of the home by a licensed home inspector to evaluate the condition of the home. You should schedule the inspection early in the process (typically within the first few days after signing the contract). You are welcome to choose the inspection company of your choice.

If there is anything in your inspection report that gives you concerns about moving forward, please call us at (512) 706-9938.

Opendoor-Owned Exclusives are offered at a transparent, no-haggle price—the price you see is the price you pay. To give you confidence in our pricing, we offer an Appraisal Price Match Guarantee.

Opendoor owns Opendoor-Owned Exclusives, and we can avoid costs when we don’t list it on the MLS, including commissions and additional holding costs.

Someone else may buy the home before then! Also, when you purchase an Opendoor-Owned Exclusive you get access to unique features like preferred pricing, our Appraisal Price Match Guarantee, and the ability to back out anytime until closing without penalties.

When you buy an Opendoor-Owned Exclusive, if the home appraises for less than the purchase price on your purchase contract, we’ll reduce the price by up to $50,000 to match the appraised value under our Appraisal Price Match Guarantee. Learn more.

If you are financing the purchase of an Opendoor-Owned Exclusive and the appraised price of the property is lower than the purchase price, we will reduce the purchase price to the appraised price, up to a maximum purchase price reduction of $50,000, so long as: (a) your lender is a duly licensed residential mortgage lender, (b) you provide us with an appraisal for the property from your lender that is dated no earlier than the executed date of the purchase contract, and (c) your lender used an independent, licensed appraiser retained through an appraisal management company to generate the appraisal.

The Guarantee applies to the original Exclusive price. It does not apply to the increased price in the event you choose to Finance Agent Commission (See below for details).

If your purchase of an Opendoor-Owned Exclusives home is contingent on the sale of another home, the home you’re planning to sell must already be in contract and any contingency periods must end no later than 5 days after the purchase contract for the Exclusives home has been signed. We ask you to supply us with documentary proof of this (e.g., a purchase agreement with all relevant addendums) within 5 days after the purchase contract for the Exclusives home has been signed.

We’ll send you full details on how to submit these materials once you sign your purchase contract.

When you buy an Opendoor-Owned Exclusive, we want to give you the freedom and flexibility to make sure you’re making the best decision for you. If you change your mind at any point before closing, you can cancel and receive a full refund of your earnest money deposit. Just contact us to let us know, and we’ll take things from there.

Opendoor Exclusives is designed to be a self-service product that enables buyers to purchase directly from Opendoor.

That said, we understand that some buyers prefer to work with an agent and you are welcome to do so. Agent commissions are not included in the displayed purchase price.

If you choose to work with an agent to purchase an Opendoor-Owned Exclusive, you have two options for paying your agent’s commission:

• You can pay them out of pocket, or
• For Opendoor-Owned Exclusives we offer the option to Finance Agent Commission, subject to lender approval.

For example: If the Exclusive price is $200,000 and you choose to add 2.5% ($5,000) to cover your agent’s commission, we would increase the sales price of the home to $205,000 and include a seller credit to you in the amount of the agent commission ($5,000). You would then use that seller credit to pay your agent at closing.

Some lenders or loan types may not permit you to use the Finance Agent Commission option. Opendoor’s ability to provide you a credit could also be subject to lender restrictions. If you have questions about whether the Finance Agent Commission option would be available for your transaction, please ask your lender.

If you choose to Finance Agent Commission and the home appraises for less than the contract price, our Appraisal Price Match Guarantee will cover up to $50,000 of the gap, but would not cover any agent commissions. In the above example, if the home appraises for $190,000, we would cover the $10,000 gap to the $200,000 Exclusive price, but you would be responsible for the $5,000 you agreed to pay your agent. Remember, you can always choose to cancel your contract before closing and receive a full refund of your earnest money deposit.

Some homes on our website are not owned by Opendoor. For these homes we collect offers from buyers for a limited period of time and present them to the seller.

If you are financing the purchase of the property, and the appraised price of the property is lower than the purchase price, Opendoor will cover the gap up to $50,000. This benefit applies so long as: (a) your lender is a duly licensed residential mortgage lender, (b) you provide the seller with an appraisal for the property from your lender that is dated no earlier than the executed date of the purchase contract, and (c) your lender used an independent, licensed appraiser retained through an appraisal management company to generate the appraisal.

You can choose to work with or without an agent. If you choose to work with us directly, you’ll have access to our team via phone, email, text and chat 7 days a week from 8am-7pm local time.Contact us at (512) 706-9938, email us at exclusive@opendoor.com, or via chat from our website

If you choose to work with an agent, Opendoor will cover any commission you have agreed to pay your agent, up to 3% of the purchase price.

It’s up to you and the seller to determine a closing date that works for both parties. If you’re planning to finance the purchase of your home, your lender will typically need at least 25-30 days to close.

If you are planning to finance your purchase, we will ask you to submit a pre-approval letter (that reflects credit verification). If you are planning to purchase the home with cash, we will ask you to provide proof of funds.

We provide a range of suggested offer prices on the property detail page, with an associated offer strength rating. A “good” or “great” offer is more likely to be accepted by the seller, but we will present offers at any point in the range.

Sellers can accept, reject or counter any offer you submit. The stronger your offer, the more likely a seller is to accept it.

In addition to homes you can’t find anywhere else, Opendoor Exclusives features homes owned by Opendoor which are publicly listed, but which you can purchase from us directly with benefits including our Appraisal Price Match Guarantee and the ability to back out anytime without penalty. While you don’t have early access to these homes, there are still a number of great reasons to purchase them on Exclusives. Learn more about Exclusive benefits.

We’ve streamlined the process of purchasing a publicly listed Opendoor-Owned home into 6 easy steps:

1. Tour the home
Homes with the “Self-tour instantly” button are open for self-tours 8am-7pm local time any day of the week. When you arrive at the home, you can either follow the instructions on the door or call (855) 476-0049 and we’ll give you access.

2. Submit your pre-approval letter
If you plan to finance the purchase of your home, you’ll need to submit your pre-approval letter to us when the contract is signed. Your pre-approval must reflect credit verification. If you decide to purchase the home with cash, you’ll submit proof of funds (e.g., a bank statement) when you sign your contract. If your purchase is contingent on the sale of another home, the home you’re planning to sell must already be in contract to sell and past any contingency periods. We’re here to help if you have any questions or need a referral to a lender.

3. Set up and sign your contract
We take a first come, first served approach. If you’d like to move forward with a contract, call us at (512) 706-9938. We’ll ask you for some information and then send over a contract via email for you to sign. As long as the contract is signed by you before we’ve come to terms with another buyer or set a highest and best deadline, you’ll be in contract to purchase the home. We use the real estate contract adopted by the Texas Real Estate Commission, which is the same contract you will often see used in Texas.

4. Submit your earnest money deposit
After signing the contract, you’ll have 5 days to submit your earnest money deposit. The deposit is set at 1% of the purchase price. We’ll send you full details on how to submit the earnest money deposit once you sign your contract. There is no option fee required and you can back out of the purchase any time until closing for any reason, and receive a full refund of your earnest money deposit.

5. Schedule inspections and finalize details with your lender
We encourage you to schedule a full home inspection so that you can feel comfortable with your purchase. We will work with your inspector to give them access to the home—just give us their details and desired inspection time, and we'll do the rest. If you're financing the home purchase, you'll also work with your lender to finalize your loan. As part of that process, your lender will typically order an appraisal, which is an independent valuation of the home. One of the benefits of buying via Exclusives is that it comes with an Appraisal Price Match Guarantee of up to $50,000. Learn more

6. Close and get the keys!
You control your closing timeline—you can choose any close date, up to 35 days after signing the contract. You can also reschedule your close date without any penalties within that 35-day period if something unexpected comes up. If you love a home but are unable to close within a 35-day period, please give us a call to discuss your options.

You can choose to buy any Opendoor Exclusive either with or without an agent.

Opendoor Exclusives is designed to be a self-service product and enable buyers to purchase directly. If you work with Opendoor directly, you’ll have access to our specialists 7 days a week. You can call us at (512) 706-9938, email us at exclusive@opendoor.com, or chat with us on the Exclusives website 7 days/week from 8AM-7PM local time.

If you prefer to work with an agent, you are welcome to do so. The prices displayed on our website do not include any commissions, so these would need to be added. You can do this when you set up your contract.

When you buy an Opendoor-Owned Exclusive, if the home appraises for less than the purchase price on your purchase contract, we’ll reduce the price by up to $50,000 to match the appraised value under our Appraisal Price Match Guarantee. Learn more.

We use the real estate contract adopted by the Texas Real Estate Commission. Setting up your contract is easy—just give us some details like your full name and when you want to close, and we’ll send over a contract you can sign electronically.

• If you are financing the purchase of any Opendoor-Owned home on Exclusives and the appraised price of the property is lower than the purchase price, we will reduce the purchase price to the appraised price, up to a maximum purchase price reduction of $50,000, so long as: (a) your lender is a duly licensed residential mortgage lender, (b) you provide us with an appraisal for the property from your lender that is dated no earlier than the executed date of the purchase contract, and (c) your lender used an independent, licensed appraiser retained through an appraisal management company to generate the appraisal.
• The Guarantee applies to the original Exclusive price. It does not apply to any commissions you add to the purchase price if you choose to Finance Agent Commission.
• The Guarantee is only available when the home is purchased as an Exclusive. If you buy the home on the MLS or otherwise, the Guarantee does not apply.

Opendoor Exclusives is designed to be a simple and self-serve product that enables buyers to purchase directly from Opendoor.

We understand some buyers prefer to work with an agent and you are welcome to do so. The prices displayed on our website do not include any agent commissions, so these would need to be added.

If you choose to work with an agent, you can pay them out of pocket or we offer the option to Finance Agent Commission, subject to lender approval.

If you Finance Agent Commission, Opendoor will increase the sales price of the home by the commission amount, which would allow you to pay the amount over time as part of your mortgage.

For example: If the Exclusive price is $200,000 and you choose to add 2.5% ($5,000) to cover your agent’s commission, we would increase the sales price of the home to $205,000 and include a seller credit to you in the amount of the agent commission ($5,000). You would then use that seller credit to pay your agent at closing.

If you choose to Finance Agent Commission and the home appraises for less than the contract price, our Appraisal Price Match Guarantee will cover up to $50,000 of the gap, but would not cover any agent commissions. In the above example, if the home appraises for $190,000, we would cover the $10,000 gap to the $200,000 Exclusive price, but you would be responsible for the $5,000 you agreed to pay your agent. Remember, you can always choose to cancel your contract before closing and receive a full refund of your earnest money deposit.

All Opendoor Exclusives homes can be purchased with or without an agent. You will receive the same benefits regardless of whether or not you choose to use an agent.

For Customer-Owned Exclusives, Opendoor will cover your agent’s commission up to 3% of the purchase price.

All Opendoor-owned homes are offered on Exclusives for a simple, no-haggle price that does not include agent commissions. If you’re working with an agent to purchase an Opendoor-owned home, we’ll add your agent’s commission when you set up your contract.

The choice is entirely up to you.

Some buyers prefer the extra control of working directly with Opendoor, and we have a team of experts that can help you through the process 7 days a week, available by phone, text, email and chat. Other customers prefer to have the guidance of an agent.

We encourage you to make the decision that’s right for you.