Opendoor, the online real estate marketplace that radically simplifies home buying and selling, today announced it has officially launched in Los Angeles. Home shoppers can now use Opendoor’s innovative new buyer service to browse, tour, and buy any listed home on the market, while sellers can get a competitive, all-cash offer from Opendoor on their existing home. Customers can also line up their home sale and purchase in one seamless transaction.
“The traditional home buying and selling experience is riddled with stress and uncertainty, particularly in a competitive real estate market like Los Angeles,” said Andy Swanton, General Manager, Los Angeles. “From a condo downtown to a bungalow in Huntington Beach to a starter home in West Covina, we’re thrilled to give Angelenos a simpler way to not only sell their home, but find, tour, and buy the home of their dreams.”
Buying with Opendoor
The Opendoor buyer service empowers buyers throughout their journey by making the home shopping experience hassle-free and on-demand. With Opendoor, buyers can:
- Browse, tour, and buy any listed home: Home shoppers can discover and tour any MLS-listed home in the Los Angeles area, directly from the Opendoor app. For MLS-listed homes, a tour assistant will meet the prospective buyer to let them into the home, allowing them to browse without any pressure. Opendoor-owned and listed homes can be unlocked using the Opendoor mobile app between 6am and 9pm, seven days a week, no appointment necessary. The company currently has dozens of homes available across the Los Angeles area.
- Buy for less: Opendoor customers will receive up to 1% back when they buy with Opendoor or 1.25% off when they buy and sell with Opendoor. Customers can save whether they buy an Opendoor home direct or any home with an Opendoor partner agent.
- Enjoy a 90-day buyback guarantee: Opendoor guarantees buyers will love the experience and purchase the home of their dreams at the best price, or the company will buy qualifying homes back within 90 days.
Selling to Opendoor
Sellers can skip the hassle of listing their home, scheduling showings, and enduring the months of uncertainty that come with waiting for an offer to close —with just a few steps online. With Opendoor, sellers can:
- Request a free, no-obligation offer: Homeowners across Los Angeles can go to Opendoor.com and quickly determine their eligibility by entering their home address. Opendoor currently purchases homes between $200,000 and $800,000 that were built after 1950 in Los Angeles, Orange, and portions of Ventura counties. Additional buying criteria information can be found on the Opendoor website. If eligible, sellers fill out a short questionnaire about their home’s attributes and any upgrades they’ve made.
- Get a competitive cash offer within 24 hours: After completing the questionnaire about their home, Opendoor will provide a competitive, all-cash offer within 24 hours. Sellers can skip the hassle of staging, keeping a home ‘show ready’ at all times, accommodating open houses and showings, or the potential of an offer falling through.
- Move on your own timeline: Upon accepting the offer, sellers can determine their own closing timeline between 14 and 60 days so that it perfectly aligns with their next move—minimizing the possibility of double mortgages or double moving costs. If any repairs are needed to bring a home up to market-standard conditions, Opendoor will request a credit and make them on the seller’s behalf.
