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Opendoor vs Offerpad: How Do These Homebuying Companies Match Up?

HomeLight

APRIL 17, 2024

In normal home sales, many real estate agents are negotiating rent-back periods for home sellers. Opendoor charges a daily rate which is calculated based on: home value, utility costs, and days of rent-back. With their mortgage lending services, they also make money from fees and interest charged.

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Today, people who own their homes aren’t willing to spend all their equity in their house compared to 15 years ago, so they aren’t interested in lowering its price. Also, lending guidelines are much tighter today than in previous years so banks aren’t approving risky loans to potential buyers.

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