As a home seller, selling to an iBuyer like Opendoor might seem like a good idea, but you should think twice before doing so.
Opendoor states that they’ll give you a cash offer and a quick, convenient closing, and they also claim that they may be able to give you an offer that’s above market value. However, data compiled by Collateral Analytics and the NAR doesn’t support this claim.
You see, convenience comes at a cost. Right now in Tucson, we have a record-low amount of inventory, and most homes listed under $300,000 attract multiple offers—some even sell for over asking price. You won’t get any of that if you work with Opendoor.
So, my advice to you is slow the process down, crunch the numbers, and do your own analytics so you know for sure the cost of convenience. It could be pretty substantial. If you need help figuring out which home selling route to take, give us a call and we’ll compare our home selling program to Opendoor’s. We can also give you a detailed market report.
If you have any more questions about this or any other real estate topic, don’t hesitate to reach out to me. I’d love to help you.