Reserve your next homebefore you sell
- Buy your next home all cash.
- No double moves.
- No double mortgages.
Don’t miss out on the perfect home
We’ll buy your next home for you in cash, so you can move when you’re ready. Then we’ll help you sell your old home at market value.
Only move once
Align your close dates to avoid moving twice or paying for storage
Avoid paying two mortgages
We’ll cover the costs of your new home until your current home sells
Get more for your home
Work with a top local agent to list your home for the best offer
Buy with confidence
Win your home with an all cash offer
How does it work?
1 Reserve your next home with our cash
When you find a home you love, we’ll buy it for you in cash. You can close on your new home before your current home sells.
2 We’ll help you sell your old home
List your home with a top agent to get the best offer.
3 Move into your new home
We'll help you coordinate your new home purchase with your sale. You'll avoid paying two mortgages or moving twice.
Learn more about how we can offer this.
Wondering how we can offer you this? We’ve answered most question you may have about this experience.
Selling your current home
What if I am already working with an agent on listing my home?
Opendoor’s home reserve program is offered by Opendoor and the Opendoor Brokerages. If you have already signed a listing agreement with an agent, ask them to reach out to firstname.lastname@example.org to see if they are eligible to participate in our partner agent program.
What if my home does not sell within 90 days?
If your home does not sell within 90 days of listing, you have the option to sell your home to Opendoor to free up the funds to take ownership of your new home.
What if my home does not sell for as much money as I was expecting?
We work with you and your lender to make sure that you will be able to afford the mortgage on your new home, even if your home sells for less than you were hoping.
What are the costs and fees?
Opendoor’s home reserve program costs the same as a traditional realtor: a 6% listing fee on the home you are selling. Because Opendoor also gets paid a commission by the seller of your new home, we are able to invest in a better experience for the same cost to our customers.
Does Opendoor help with home renovation?
With Opendoor’s concierge program, Opendoor will front up to $10,000 of home repairs or upgrades so you don’t have to pay out-of-pocket before your home sells.
Buying your new home
Reserving your new home
What homes qualify for the home reserve program?
The main criteria for the home reserve program are:
- The home must be is a single family home or townhome in Opendoor's Phoenix or Raleigh-Durham service areas, with a purchase purchase price of between $100,000 and $750,000.
- The home must not be a pre-fabricated or a manufactured home, on a lot bigger than 2 acres, have any structures in a flood zone, or currently be in a foreclosure, probate, or short sale.
How do I qualify for the home reserve program?
Before making an offer on a property, you must provide a pre-approval letter from a licensed mortgage lender that states the amount the lender is prepared to lend you and is good for at least 90 days.
The letter should confirm that the lender has made this initial credit decision based on a review of documentation to verify your income, assets, debts, credit, and employment.
What payments do I make on my new home while it is reserved?
Opendoor will cover the costs of your new home for up to 120 days or until your existing home sells and you are able to take ownership of the new home.
If you would like to move into the new home before you take ownership, you just cover the cost of utilities and living expenses. We credit the rent charged back to you when you sell your current home.
What if I already have an agent working with me on my home purchase?
Opendoor’s home reserve program is offered by Opendoor and the Opendoor Brokerages. If you have already signed a binding agreement with an agent, ask them to reach out to email@example.com to see if they are eligible to participate in our partner agent program.
Am I limited to buying an Opendoor home?
No, the home reserve program is available to purchase any home that qualifies, regardless of whether it is owned by Opendoor.
Financing your new home
Do I have to use Opendoor Home Loans for the purchase of my next home?
No, you can use any lender you choose.
What’s the catch?
Opendoor’s home reserve program costs the same as a traditional sale: a 6% listing fee on the home you are selling. Because Opendoor Brokerage also gets paid a commission by the seller of your new home, we are able to invest in a better experience for the same cost to our customers.