Opendoor: What It Actually Is, in Plain Terms
Published by Cash Flow Deals · Last updated 2026-08-18 · Published and reviewed for compliance by Camilo Palacio, a Florida Licensed Realtor
Opendoor is an iBuyer, a company that buys your house directly with its own capital, then resells it later, offering a preliminary online purchase offer in minutes and a 21-60 day closing window. With Cash Flow Deals, you choose between the Fast Cash Offer, where we buy your house as-is and close, and the Premium Cash Offer, where a pre-approved FHA or conventional buyer we already have, ready to go, pays more and buys directly from you. Put both alongside any offer you already have.
| Cash Flow Deals | Opendoor | |
|---|---|---|
| Fee structure | Fast Cash Offer: no listing commission to Cash Flow Deals. Premium Cash Offer: paid as a separate line item on the closing statement | Service fee that varies by market and condition, plus repair deductions |
| Timeline | Same-day callback in business hours to discuss your Fast Cash Offer and Premium Cash Offer | Final offer within 5-7 business days, 21-60 day closing window |
| Repairs | Fast Cash Offer: you sell as-is without making repairs. Premium Cash Offer: only what the buyer's lender requires gets fixed. We cover repair costs, and we figure out a way, so nothing comes out of your pocket; repair costs are settled from the sale proceeds out of our share. | Repair costs deducted from the offer; Opendoor handles repairs after purchase |
| Structure | You choose: with the Fast Cash Offer, we buy your house as-is and close; with the Premium Cash Offer, a pre-approved FHA or conventional buyer we already have, ready to go, pays more and buys directly from you. | iBuyer: buys with its own capital, then resells the home later |
What Opendoor Actually Is
Opendoor is an iBuyer: a company that buys homes directly with its own capital, then resells them later for a profit. Its own explainer describes a preliminary online purchase offer in minutes, followed by a self-guided photo assessment or an in-person walkthrough, a final offer within 5-7 business days, and a closing window of 21-60 days on the seller's chosen date.
Opendoor charges what it calls a service fee, which it states "replaces the traditional 5-6% commission" -- the exact percentage isn't fixed and varies by market and property condition.
Your Choice: Fast Cash Offer or Premium Cash Offer
With Cash Flow Deals, you choose the Fast Cash Offer, where we buy your house as-is and close, or the Premium Cash Offer, where a pre-approved FHA or conventional buyer we already have, ready to go, pays more and buys directly from you.
The number is agreed before any work starts, and it changes only if you agree. The one exception: if something structural surfaces that was not visible or disclosed before we signed — foundation issues, hidden moisture, old wiring, cast-iron drain failure — we re-cost it and bring the number back to you. You decide. You can walk away. We disclose what we know at offer time so this almost never happens.
We cover repair costs, and we figure out a way, so nothing comes out of your pocket. With Premium, only what the buyer's lender requires gets fixed, with repair costs settled from the sale proceeds out of our share. With Fast Cash, you sell as-is without making repairs. Put both offers alongside any offer you're already holding.
Cash Flow Deals' Process: 3 Steps
1. Cash Flow Deals reviews your property details directly and gives you two written offers. You choose the Fast Cash Offer, where we buy your house as-is and close, or the Premium Cash Offer, where a pre-approved FHA or conventional buyer we already have, ready to go, pays more and buys directly from you.
2. The number is agreed before any work starts, and it changes only if you agree. The one exception: if something structural surfaces that was not visible or disclosed before we signed — foundation issues, hidden moisture, old wiring, cast-iron drain failure — we re-cost it and bring the number back to you. You decide. You can walk away. We disclose what we know at offer time so this almost never happens. We cover repair costs, and we figure out a way, so nothing comes out of your pocket. With Premium, only what the buyer's lender requires gets fixed, settled from the sale proceeds out of our share. With Fast Cash, you sell as-is.
3. You help pick the closing date, and funds move at closing. On the Premium Cash Offer, the buyer's lender funds the purchase. If the buyer's loan falls through, that is our problem, not yours, and you can still take the Fast Cash Offer at its own number.
Common questions
How is Cash Flow Deals different from an iBuyer like Opendoor?
With Cash Flow Deals, you choose between the Fast Cash Offer, where we buy your house as-is and close, and the Premium Cash Offer, where a pre-approved FHA or conventional buyer we already have, ready to go, pays more and buys directly from you. On Premium, title transfers directly from you to that buyer, their lender funds the purchase, and we are paid as a separate line item on the closing statement.
How does the Premium Cash Offer work?
You choose between the Fast Cash Offer, where Cash Flow Deals buys your house as-is and closes, and the Premium Cash Offer, where a pre-approved FHA or conventional buyer we already have, ready to go, pays more and buys directly from you. With Premium, you sign with us and give us permission to bring in a buyer in our place. That buyer signs a new contract directly with you, title transfers once, and their lender funds the purchase. The number is agreed before any work starts, and it changes only if you agree. The one exception: if something structural surfaces that was not visible or disclosed before we signed — foundation issues, hidden moisture, old wiring, cast-iron drain failure — we re-cost it and bring the number back to you. You decide. You can walk away. We disclose what we know at offer time so this almost never happens.
What if something's wrong with the house nobody could see before the offer?
The one exception: if something structural surfaces that was not visible or disclosed before we signed - foundation issues, hidden moisture, old wiring, cast-iron drain failure - we re-cost it and bring the number back to you. You decide. You can walk away. We disclose what we know at offer time so this almost never happens.
Is Cash Flow Deals the same kind of company as Opendoor?
No. Opendoor is an iBuyer that buys with its own capital and resells later. With Cash Flow Deals, you choose between the Fast Cash Offer, where we buy your house as-is and close, and the Premium Cash Offer, where a pre-approved FHA or conventional buyer we already have, ready to go, pays more and buys directly from you.
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What this means for your options
Every path to selling a house has real tradeoffs.
Wait and see
Keep the property as-is and hope conditions improve. The mortgage, insurance, and upkeep keep costing money while you wait, with no set date for things to turn around.
List with a traditional agent
Standard MLS listing, typically 5-6% in commission, and a financed buyer whose deal depends on appraisal, inspection, and lender approval — any of which can fall through after weeks on market.
Sell to Cash Flow Deals
Two offers for your house, Fast Cash or Premium Cash, and you choose. Cash: Cash Flow Deals buys the house as-is and closes. Premium: More money. A pre-approved FHA or conventional buyer we already have buys directly from you.
See your selling options before you decide anything.