Frequently Asked Questions

Buyers FAQs

How does buying with Opendoor work?
Can I use my own agent to buy with Opendoor?
Why can’t I buy directly on all homes?
How does working with a partner agent differ from buying directly?
What are Self-Tours?
What is an on-demand tour?
Why can’t I bring my agent to on-demand tours?
Do I have to use the app or can I view properties on the Opendoor website?
What are my buying options with Opendoor?
Do I need homeowners insurance?
Should I buy a home warranty?
Do you negotiate on the price?
Do I need to qualify for financing before I submit an offer?
How long does the home buying process take?
I have an agent already. Can I buy an Opendoor home?
How can I buy an Opendoor home?
What is the Opendoor Guarantee?
How many homes does Opendoor have available for sale?
What’s different about Opendoor homes?
Which inspections should buyers consider?
What is an inspection contingency?
What is an Option Period?
What is an earnest money deposit (EMD)?
Which contingencies should I include in my offer?
What is an appraisal contingency?
What is a loan contingency?
What is home sale contingency?
What is closing and recording?
What is escrow?
What financial docs do I need to buy a home?
What makes an offer competitive?
How are pre-qualification and pre-approval letters different?
How do I write a competitive offer?
Should I write an offer letter?
How much are closing costs?
How much should I offer?
I’m ready to put in an offer on a home. What’s next?
How does the closing process work when you buy an Opendoor home?
Why should I buy an Opendoor home?
What does it cost to purchase a home from Opendoor?
Can I trade in a home while working with a home builder?
How do I buy a house with Opendoor?

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