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It pays to give it a look.


Key points

  • Selling a home can be a long and expensive process.
  • A new platform could make it easier to sell your home quickly.

Although it’s a seller’s market these days, the thought of having to find a real estate agent, list a home, and negotiate with buyers can be overwhelming. Moreover, even if you manage to find a buyer quickly, there is no guarantee that the sale in question will materialize.

You may find a buyer who looks good on paper, but find they can’t get a mortgage. Or, your buyer might make unreasonable demands after your home inspection, killing the deal at hand.

If you’re stressed about selling your home and want to do it quickly, it might be worth checking out a new online platform. Although this is a less conventional way to sell a home, the upside could be substantial.

Should you sell your house online?

The idea of ​​selling a home online may seem strange to you. But people do it through a platform called open door.

With Opendoor, all you have to do is enter a few details to get a preliminary offer on your home. From there, you make a video pitch to get an official deal that you can close. Opendoor says on its website that you can close your house in a few days. With a traditional home sale, you can easily wait weeks or even months to complete a sale.

Moreover, with Opendoor, you could save money when selling your house. That’s because you won’t have to pay to stage your home, or pay for repairs that might otherwise put buyers off. Your Opendoor offer will take into account the current state of your home. And you won’t have to deal with the hassle of hosting open houses and visiting potential buyers around your property.

Now, to be clear, your Opendoor sale will always come with a fee. You will pay 5% of the selling price of your home. But that’s comparable to what a real estate agent might charge you. And since some agents charge higher fees, you could save money.

Is there a downside to selling your home online?

These days, there can be a downside to going this route. Right now there is a serious shortage of homes in the real estate market, so sellers are usually outbidding each other for properties that are available. If you’re selling through a platform like Opendoor, you might end up with a lower selling price because there won’t be competition.

Moreover, buyers often let their emotions dictate their offers. If a buyer sees your home and falls in love with it, or has a reason for wanting to move to your neighborhood, they may offer a higher price for your home. A platform like Opendoor will not offer the possibility of this same connection and therefore could earn you less money.

But if your goal is to sell your home as quickly as possible, then using a platform like Opendoor might be your best bet. And what you lose in sales price, you could gain by not having to stress the process so much.

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