Net Proceeds Comparison Calculator
Opendoor’s homebuilder partners and their customers can use this tool to estimate net proceeds from selling a home to Opendoor vs. the traditional way.
Estimated Days to Find a Buyer
With Opendoor, you can get and accept an offer on your home within 24 hours of requesting one. In a traditional sale, the number of days your home is on market before you get and accept an offer will vary. We’ve inputted an estimate based off market data in your area.
Days to Close Transaction
With Opendoor, we are a cash buyer, and you can control the exact close date. In a traditional sale, the number of days to close on the transaction will vary based on the buyer’s needs and which lender they’re working with. We’ve inputted an estimate based on Dec. 2017 national purchase loan data.
Opendoor Service Charge
With Opendoor, our service charge helps cover the costs of buying and re-selling the home. It varies by home, usually between 6-12%. As of Dec. 2017, our national average is 6.6%, but you can enter a custom percentage.
Real Estate Agent Fees
In a traditional sale, listing and buyer commission fees often total 5-6% of the purchase price, but it varies by home. You can enter a custom percentage.
With Opendoor, you will receive a request for repair credits to cover anything that is inoperable or impacts the safety of the house. In a traditional sale, your agent will help you negotiate each of the repair credit requests received from a buyer. Repair amounts will vary by house, so we invite you to enter a custom amount.
In a traditional sale, buyers may ask sellers to pay costs on their behalf, such as inspection fees, transfer taxes, and more. When requested, these costs often add up to 1.5-2% of the home’s price, but you can enter a custom percentage.
Title, Escrow, Notary, and Transfer Tax
In any sale, there will be fees for title insurance, escrow, recording & notarization, and real property transfer taxes often totalling between 1-3% of the home’s price. Since this varies by home, you can enter a custom percentage.
HOA Transfer Fee
In any sale, if your current home is part of an HOA, you will likely have to pay a fee to transfer membership to the new owner. The average transfer fee is $250, but you can enter a custom amount.
With Opendoor you can choose your close date to align with when your new home is ready. In a traditional sale, you may need to live in a rental between your home sale and when your new home is ready. We’ve estimated one month, but you can enter a custom timeframe.
Monthly rental cost
In a traditional sale, you may need to live in a rental between your home sale and when your new home is ready. We’ve estimated $1,100 in rent a month based on national averages, but this varies widely by area and apartment size. You can enter a custom amount.
In any sale, you’ll need to pay off your existing mortgage. You can enter your outstanding loan balance here.
This calculator is offered for educational purposes only. All costs are estimates and no guarantee is made that all possible costs have been included.