Raleigh, NC
Orlando, FL
Nashville, TN (NEW)
Tampa, FL (NEW)
Ramping up their market coverage by a multiple of 5 within 2 years seems a VERY ambitious plan, and yet this is a gamechanger fintech firm.
The firm's differentiation is stated on their website as follows:
"Traditional home sale
- List on the market for an average 50 days until closing
- Risk of buyer financing falling through
- Hidden fees and upfront costs
House flipper
- Sell instantly, but well below market value
- For distressed properties needing major repairs
- Home is resold for a large profit
Opendoor
- Close in just a few days at a competitive price
- No listing, showings, staging or stress
- Transparent fees and pricing"
One of the most unique features is the ability to buy and sell a home very quickly. While the fees are 6.5% on a sale, the transaction can close within 5-60 days, and doesn't require realtor showings, home staging, overlap on closings of other properties, etc. In short, it's a HUGE time-saver and Opendoor also takes on the additional responsibility of finding another home-buyer.