There is no service charge to purchase a home from Opendoor, and home shoppers work directly with an Opendoor Home Advisor to agree on a purchase price that works for both parties.
There are a few transaction costs that exist in any home purchase that are important to keep in mind.
- Down payment: In order to get approved for a loan buyers are required to pay a down payment. The down payment is often 20% of the purchase price of the home, but some lenders offer qualifying borrowers FHA or VA loans that require down payments of 3% or 5%.
- Closing costs: “Closing costs” is a catch-all term that refers to a number of one-time fees that you’ll pay at the close of a real estate transaction. These costs typically range from 1% to 3% of the purchase price of the home, and include things like escrow, loan application and origination fees, appraisal costs, and transfer taxes. Your Opendoor Home Advisor can answer any questions you have about closing costs.
Related Buyers FAQs
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?
Have more questions?
Our customer support is here to assist you. Contact our support
team via email or phone: 480-351-6622.