Opendoor is a scam

Don’t fall for those online ibuyer scams. As the old saying goes, nothing good is free.

Online homebuyer Opendoor has been ordered by the Federal Trade Commission to pay $62 million to resolve allegations that it defrauded house sellers of thousands of dollars. Opendoor was buying houses at what they told sellers was a fair price and then turning around and selling the properties for thousands more.

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According to the FTC, Opendoor deceived sellers into believing they could earn more money by selling to the company rather than on the open market, and it cost sellers thousands of dollars.

Find out more about how to avoid such scams by using a trusted, licensed real estate team like Team TLC!

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