Real Estate

iBuying trailblazer Opendoor launches in Salt Lake City

Opendoor is the first iBuyer to enter this market

Online real estate marketplace Opendoor has launched its all-cash, no-obligation iBuying feature in Salt Lake City.

Homeowners in Salt Lake City can now sell their home directly to Opendoor, skipping the traditional selling process.

For now, the company will be purchasing homes between $150,000 and $500,000 and were built after 1960.

“Opendoor provides the certainty of an all-cash offer with no financing or home sale contingencies, so those home sellers can easily move onto the next chapter of their lives,” said Sharon Brown, city launcher, Opendoor.

To get an offer on their home, homeowners fill out a questionnaire about the home, then within 24 hours, Opendoor will make an all-cash offer that enables the seller to not have to worry about staging a home or accommodating an open house.

Once the seller accepts the offer, they can determine their own timeline between 14 and 60 days.

Opendoor, which launched in Phoenix in 2014, now operates in 21 markets across the U.S.

Between January and July this year, the direct buyer purchased 10,000 homes via the web, averaging about 1,400 homes purchased a month. With Zillow Offers catching up, this iBuyer’s enterance into the Utah market is just the beginning.

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