We’ve been seeing a large increase of active listings by OpenDoor.com in Maricopa and the Southeast Valley. More homeowners are selling their homes to OpenDoor for a fast sale as opposed to putting it on the market with a REALTOR. For those of you who are not familiar, Open Door advertises that they can sell your home fast and send you an offer for your home within 24 hours.
Here’s my take: OpenDoor.com is a creative way for an Investor(s) to buy your home below its market value and resell it for top dollar after they complete repairs and updates (i.e., new carpeting, fresh paint, etc). The benefits are you will sell your home fast, likely close within a week, and not have any of the inconveniences that go with selling a home (staging, showings, repairs, waiting to receive an acceptable offer, etc.). For some Homeowners, this may be an ideal option; it all depends on their particular circumstances and why they need to sell their home quickly.
My advice to someone who is considering selling their home quickly to OpenDoor.com OfferPad.com, etc. would be to also contact two REALTORS and obtain a market analysis for what your home is really worth on the open market.
When one of our clients need to sell a home quickly, there are several strategies that can be used to find a buyer fast. Depending on the home and owner’s situation, going with a REALTOR will likely give you a higher profit.
By taking the time to interview a couple of REALTORS, this will provide you with the education on the home selling process, your home’s estimated value, and assist you in making the best decision that suits your specific needs.