There are four types of costs you can expect to pay whether you’re selling to Opendoor or to the open market:
- Selling fees
In a traditional sale, you’ll pay up to 6% in real estate agent fees. With Opendoor, you’ll pay a service charge. On average, our service charge is 6-7%, but it could be lower or higher (It’s never higher than 13%). Our service charge varies based on how long we expect it will take to sell your home. We assume all the risk of the home’s resale and holding costs so you can have the certainty of a competitive offer and move on your own timeline.
- Repair costs
Repair costs vary based on your home’s condition. The advantage of selling to Opendoor is we arrange a free home condition assessment. If there are repairs needed, you can choose to skip the work and have us handle the repairs after you move out. We’ll ask for a credit to cover the costs, and we can pass wholesale savings from our vendors on to you. Alternatively, you can choose to do the repairs yourself and send us photos and documentation after they’re complete.
- Closing costs
Most home sales include fees related to title insurance, escrow, recording, and notarization. In short, these are the costs for the services required for one person to transfer ownership of a home to another person. They typically add up to about 1-3% of the sale price. We break each of these down when you request an offer. Read more about the closing process and how much closing costs the seller.
- Circumstantial costs
There are many costs of selling a home that are difficult to anticipate. One of these is seller concessions, which are financial incentivizes the seller offers to the buyer to sweeten the deal. Seller concessions can cover additional things like inspection fees, transfer taxes, and other closing costs. If you sell to Opendoor, you don’t have to “sweeten the deal”, you get the certainty of a competitive offer.
Other often overlooked costs are paying double mortgages, rent, or storage fees if you aren’t able to line up your sale with the purchase of your next home; this is notoriously hard to do. Selling your home to Opendoor allows you to pick your close date and move when you’re ready so you can avoid these added expenses. Lastly, what is the value of your time and sanity? Selling to Opendoor means zero showings and complete control over your moving timeline.
Related Sellers FAQs
What is a survey and how do I know if I need one?
How does my mortgage get paid off?
What happens at the final walkthrough?
What happens to my appliances when I move out?
Have more questions?
Our customer support is here to assist you. Contact our support
team via email or phone: 480-351-6622.