There are three 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 5-6% in real estate agent fees. With Opendoor, you’ll pay a service charge. Currently, our service charge typically falls between 6-8%, but it could be lower or higher (it’s never higher than 14%). 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 our assessment turns up any needed repairs, we’ll ask for a credit and deduct the costs from your net proceeds. You avoid any out-of-pocket repair expenses that you might encounter in a traditional sale. We aim to ask for only what we’ll need to spend on your home to help ensure its safety, structure, and functionality.
Finally, we’ll do any needed repair work after you move out so you can skip the headache and move on your timeline. If you change your mind or disagree with our repair ask, you can cancel your contract anytime before closing without a penalty.
- 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.
You avoid circumstantial costs with Opendoor
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 a variety of things like inspection fees, transfer taxes, and other closing costs.
If you sell to Opendoor, you don’t have to “sweeten the deal”. You also don’t have to worry about buyer fall-through risk, where a potential buyer can’t qualify for financing so the deal falls through. You get the certainty of a competitive, all-cash offer. Learn more about how selling to us works. Another often overlooked cost is 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. When you sell to Opendoor, you choose your close date and move when you’re ready so you can avoid these expenses. Many people have to sell before they buy so we also offer a trade-in service. We’ll help you line up your sale exactly with your new purchase.
Lastly, what is the value of your time and sanity? Selling to Opendoor means zero showings, home preparation, and listing costs. You have 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.