FORT WORTH (CBS11) – There’s a new real estate company in DFW that aims to make buying and selling homes a faster process.
Opendoor claims to make cash purchases in full for homes that meet their criteria.
Among the criteria: the homes need to be valued between $150,000 and $500,000 and they must not need any major repairs.
Opendoor says its process eliminates the need for the seller to stage an open house or deal with unscheduled showings.
“It’s (for) someone that is looking for convenience in the real estate transaction,” said Gayln Ziegler of Opendoor.
Ziegler says customers receive a cash offer within 24 to 48 hours.
Once Opendoor buys the house, the company then lists it for sale.
Ziegler said although realtors are welcome in this selling and buying process, they are not needed.
Asked if this type of business model leads to low-ball offers, Ziegler responded, “ No. We make fair market value offers on homes. We are not a flipper. We come in at what we feel the market value is on the home.”
Gene and Dorothy Bear of Fort Worth recently sold and bought through Opendoor.
“Probably without question the easiest way to sell a home,” said Gene Bear.
Company officials say they have sold more than 2,000 homes in the DFW area accounting for about $400 million in transactions.