Opendoor, a five-year-old company that buys homes directly from owners for resale in several markets in the U.S., is coming to Salt Lake City. The company has begun hiring its local staff with the intent of launching operations locally later this year.
In a press release, the company outlined its business model. “Starting later this year, homeowners in Salt Lake City … will have the ability to sell their homes directly to Opendoor for a competitive price, skipping the hassle and uncertainty that comes with open houses, showings and listing on the market. Local homeowners will be able to get a free, no- obligation offer on eligible homes within 24 hours and close on a timeline that works for them. After Opendoor purchases a home, we then take ownership of it and handle any necessary repairs before we relist the home and find the next buyer.”
Opendoor transactions are handled by an online app for both buyers and sellers. Once Opendoor buys a home and prepares it for market, potential buyers can unlock and tour any Opendoor home in-person from 6 a.m. to 9 p.m. seven days a week without an appointment. The company recently announced that it has facilitated the purchase of 50,000 homes.