TLDR: Our agent said they were a breeze to work with and he really appreciated that they emailed him updates as work was being completed (per our purchase agreement). I would highly recommend a good inspector though. Some of the repairs were done just above board but will have to be re-done in the next few years.
Key points: we purchased our home right after schools in our area started -- this is generally the end of the peak selling season and prices shift dramatically. Our city (suburbs of a dense metro area) also seems to be preparing for an economic decline. We think these factors aided us in our negotiating. I wish we had spent more time going through the home during our final walkthrough (more of an issue with our agent) because now that we've settled in we're noticing things that were not properly fixed. Each individual job is small in the grand scheme but all of it adds up quickly. Finally, we really love our new home. No regrets on the purchase and we definitely would consider buying from Open Door again.
So I'm going to go into detail only because that's what I love from posts when I'm doing research.
First, our agents feelings. He is an expert in every aspect of the home buying process and we were lucky to have him. If we have questions he answered them but generally didn't burden us with the details of his communication with Open Door. He prefaced by saying our purchase was very straightforward- priced right, obvious repairs to include in negotiating, and the property was a perfect fit for our needs. He said they would email him when a contractor arrived and left and what work was completed. It was also easy to access the property for tours.
Second, our feelings. We were primarily nervous about the fact that we were purchasing the home from people who never lived in it. If we had a question about the plumbing, fireplace, appliances, etc. they could brush it off as"we don't know, we don't live there, but if you'd like to go back and gather info we'd be happy to grant you access." It turned out to be an appropriate concern. The major issue this related to was the irrigation system which was something we didn't really care about to begin with. Now it's turned into a real problem. As far as we can tell the home has had quite a few owners and every one of them has completed some DIY project. There was freeze damage to the irrigation system and leaked profusely. We asked if they would have that damage repaired and they did it cheaply. It'll be at least $500 in corrections and then another $500 in parts because the system hasn't been used in well over 5 years according to the company we hired to blow it out. There are weird electrical issues we've noticed that we're missed in the inspection and an issue with our garage door that we are told was fixed but wasn't.
Third, overall feelings. It feels like they tried to cut corners in a lot of ways when fixing the house but they didn't intend to screw anyone over. We are discussing without agent about how to approach them with issues and we all feel negotiating will be easy. Despite the weird inconsistencies in the house, it's perfect for us and we ended up purchasing it for about 10k less than asking and we had a list of improvements that were completed or attempted. They did wait until the last minute to accept our offer but because it was a time of transition in the market it was somewhat understandable.
Fourth, selling to Open Door. This is only hear say but we have asked around about experiences in selling homes to Open Door. We've heard anecdotal information from 3 people who essentially say the same thing: Open Door offers what seems to be a reasonable price, then require you to use their contracted service for the purchase agreement/title/etc. Then when all is said and done, a large chunk of what was offered to you had been set aside for fees to the partnered companies they require you to use leaving you with a net profit from the sale that is way under what you expect.
All in all, I would definitely consider buying from them again but I wouldn't sell to them.
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source https://www.reddit.com/r/RealEstate/comments/dol48t/buying_from_opendoor_part_2/
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