Introducing money-back policy, US startup Opendoor woos homebuyers
Don’t like the house? Return it within 30 days.
Founded in the year 2014, a San Francisco startup, Opendoor, has brought some really exciting news, so exciting that it is difficult to digest. Two years ago, it was established with a mission to simplify real estate. Predominantly, Opendoor intended to make easy buying and selling of homes. Now, it allows you to return your new house with its 30-day return policy.
Homebuyers who are using its service will now get a 30-day window to return a home. This feature being a rare one in the real estate industry is expected to attract a lot of homebuyers. Within 30 days, homebuyers can return the home, get a refund, deduct closing costs if it doesn’t satisfy their expectations. The reason for returning the house could be anything. Even if, your neighbors are annoying, you are free to return the house.
Opendoor resells the homes it buys and lists those homes for sale on its website. It also does repair work if required and allows prospective buyers to check out a home whenever they want. Moreover, Opendoor provides the new buyer with a 180-point inspection report stating condition of their new home. Even if anything breaks during its first two years, Opendoor will fix it.
This startup mostly charges sellers less than 10 % of the value of their home. As per reports, Opendoor won’t purchase any home built before 1960. Further, it sticks with homes ranging in value from $100,000 to $600,000. This apparently covers 90 % of homes in the United States.
Usually, Opendoor buys 10 houses a day across the two markets, Phoenix and Dallas as per news. The online real estate startup has witnessed a growing number of vendors using its software in both Phoenix and Dallas.
Though, Opendoor has reformed the real estate industry with its online presence, it is trying hard to garner attention from potential homebuyers. If Opendoor’s recent announcements hit the market, it is sure to open the doors to gain more attention and achieve success.
- San Francisco-based startup Opendoor resells the homes it buys and lists those homes for sale on its website .
- Within 30 days, Homebuyers can return the home, get a refund, deduct closing costs if it doesn’t satisfy their expectations.
- Opendoor also provides a new buyer with a 180-point inspection report stating condition of their new home. Even if anything breaks in the first two years, Opendoor will fix it.