>> Instead, the FTC says Opendoor’s offers were lower than a home’s market value, and the company asked sellers to pay for home repair costs that were higher than what people would typically spend on repairs in a market sale. As a result, most people who sold their homes to Opendoor typically lost thousands of dollars compared to what they would have made if they’d sold their homes on the open market.
I'm sympathetic to Opendoor on this. Are they counting ALL the costs when they say Opendoor customers "lost thousands"?
- Are they counting the carry of keeping [a potentially empty house] on the market for months? (e.g., real estate taxes, maintenance fees)
- Are they counting the 4-6% real estate real estate commission the agent would take that Opendoor customers arent paying? If I sell the house at a 20k discount to Opendoor, but save a $40k real estate commission, that sounds like a good deal.
I'm sympathetic to Opendoor on this. Are they counting ALL the costs when they say Opendoor customers "lost thousands"?
- Are they counting the carry of keeping [a potentially empty house] on the market for months? (e.g., real estate taxes, maintenance fees)
- Are they counting the 4-6% real estate real estate commission the agent would take that Opendoor customers arent paying? If I sell the house at a 20k discount to Opendoor, but save a $40k real estate commission, that sounds like a good deal.