For sellers, we aim to offer market value for your home and take a service charge that enables us to provide a streamline experience and world-class service from offer to closing. The charge averages around 6.5% and goes no higher than 13%, mainly varying based on how long we predict it’ll take to sell the home. It also helps us take on the risk and cover the holding costs (utilities, maintenance, and taxes) so you can move on to what’s next.
There are a few other transaction costs that exist in any home sale that you’ll want to consider.
- Repairs: If any repairs are needed, we’ll estimate the cost required to make those fixes and share that with you. You’ll have the option to complete these repairs yourself, or let Opendoor do the work so you can move on to your next chapter.
- Closing costs: Just like a traditional sale, sellers are responsible for standard closing costs which may include title insurance, escrow fees, and HOA transfer fees. Closing costs typically range from 1% to 3% of your home’s value.
- Real estate agent commissions: If you’re working with a real estate agent to sell your home, you will need pay them a listing commission along with the buyer’s agent’s fee. The total commission fees in many areas is about 6% of the sale price, which is often split evenly between the listing agent and the buyer’s agent. If you sell to Opendoor without an agent, you do not incur these additional commission fees.
When you receive your Opendoor offer, we’ll break down all of these costs based on the information we have so that you have a clear idea of whether the sale makes sense for you. We want every customer to feel confident in their transaction, and we’ll never pressure you to sell before you’re ready.
You can read more about how Opendoor’s costs compare to a traditional home sale our blog.
Related Sellers FAQs
What is a survey and how do I know if I need one?
How does my mortgage get paid off?
How does the closing process work?
What happens at the final walkthrough?
Have more questions?
Our customer support is here to assist you. Contact our support
team via email or phone: 480-351-6622.