• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

2

Apple’s Steve Wozniak says he cofounded the tech giant after 5 rejections from HP—not to ‘make money.’ For years, his paycheck was just $50

3

Indeed chief economist says we’re entering an era of ‘great mismatch’ thanks to a generational imbalance of workers

1

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

2

Apple’s Steve Wozniak says he cofounded the tech giant after 5 rejections from HP—not to ‘make money.’ For years, his paycheck was just $50

3

Indeed chief economist says we’re entering an era of ‘great mismatch’ thanks to a generational imbalance of workers
Tech

How This Real Estate Startup Is Tackling Buyer’s Remorse

By
Kia Kokalitcheva
Kia Kokalitcheva
Down Arrow Button Icon
By
Kia Kokalitcheva
Kia Kokalitcheva
Down Arrow Button Icon
June 7, 2016, 9:00 AM ET
Homes Sales And Spending On Construction Rise Slightly Higher In March
Photo by Justin Sullivan — Getty Images

Wouldn’t it be great if buying a house were as easy and risk-free as picking up a new gadget at an electronics store and returning it if it doesn’t work that well or fulfill its promises?

That’s exactly what Opendoor, a startup that buys and sells houses, aims to do with its new money-back guarantee. As of Tuesday, the startup, which currently operates in Phoenix and Dallas, is providing a 30-day guarantee to its buyers that lets them “return” the house if they’re not happy for any reason. In addition, Opendoor is also providing a 180-point full inspection of every home it sells, as well as a two-year warranty that covers up to 20 items.

“There’s that fear that you’re going to purchase a lemon,” Opendoor co-founder and CEO Eric Wu told Fortune of the concern he hopes the new policies will alleviate.

Opendoor debuted its home buying and selling service in Phoenix in late 2014. Opendoor says it aims to make both purchasing and selling a home as fast, easy, and fair as possible, which is why it makes instant online offers to sellers looking to offload their house quickly, using sophisticated models to price each home. On the buyers’ side, it provides around-the-clock self-serve house tours so they can avoid the hassle of scheduling a viewing. Opendoor charges up to 6% more than traditional real estate agents and performs necessary repairs before putting the house on the market.

Get Data Sheet, Fortune’s technology newsletter.

Now Opendoor hopes to add even more ease of mind for buyers with its new policies. The company will offer its 30-day money-back guarantee to all buyers, for any reason. If they do want to give back the house, so to speak, Opendoor will purchase it back at the price it sold the house, minus the fees associated with the sale, including any escrow fees, title insurance, homeowners association fees, and commissions. Sellers who took out a bank loan to purchase the house will have to pay back the loan to release the house’s title back to Opendoor, said the company.

“No one else in the industry can do it,” Wu said of Opendoor’s money-back guarantee. “An individual homeowner can’t say, ‘If you don’t like it I’ll give you your money back.’ They’re taking the money and buying another home,” he explained.

In the case of a re-purchase, Opendoor would use the same financial reserves (credit lines at undisclosed terms) it uses to purchase houses.

For its two-year warranty, Opendoor has partnered with OneGuard, a home warranty provider that operates in Arizona, Texas, and Nevada. Opendoor’s warranty includes a range of items, from kitchen appliances to the sprinkler system and timer. If anything within the coverage breaks during the two years, the new homeowner’s cost to get it fixed won’t exceed $59, according to the startup’s marketing materials. Buyers can also opt for a one-year warranty from the provider of their choice.

As for its 180-point inspection it completes for each home it purchases and sells, Opendoor says it’s just a more formalized version of its practices thus far. Now the company will do a full inspection, take care of the necessary repairs, inspect the house again, and provide the new buyer with the full results of its inspection.

“It’s about showing our work,” Opendoor vice president of product Evan Moore told Fortune.

The new policies were the icing on the cake for Aaron Dean, a veteran who recently purchased a home in Dallas from Opendoor, he told Fortune. Dean had already decided he wanted the house by the time the company told him about the new perks, but he says they definitely added to his peace of mind.

For more on real estate, watch:

Opendoor has tested its new policies only with a small group of buyers so far, so it had no concrete data to share, though it did say that no one has yet asked to return a house. Currently the startup is selling about $50 million worth of homes per month in Phoenix and $20 million in Dallas, double the figures it disclosed in March. Next it plans to expand its operations to Las Vegas, the company said.

Still, Opendoor’s business carries risk. Though it makes roughly $10,000 to $15,000 in profit from each home, according to a Wall Street Journal report from January, Wu admits that the company has lost money on a few homes. Moreover, the company has failed to sell some homes it purchased for more than six months, though Wu told Fortune that only 5% have taken this long to sell. In the event of a downturn in the real estate market, Opendoor could find itself with a lot of homes on its hands, and less hope to sell them at a high profit, if any at all.

Wu founded Opendoor in 2014 with former PayPal executive and investor Keith Rabois, Ian Wong, and JD Ross. To date, the startup has raised $110 million in equity funding.

The story has been updated to clarify that Opendoor has lost money only a few homes, along with additional details about the portion of homes that have taken more than six months to sell.

About the Author
By Kia Kokalitcheva
See full bioRight Arrow Button Icon

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Tech

SpaceX’s next-gen rocket is the key to its sky-high valuation, early investor says: ‘Starship also enables all kinds of frontier markets’
Startups & VentureElon Musk
SpaceX’s next-gen rocket is the key to its sky-high valuation, early investor says: ‘Starship also enables all kinds of frontier markets’
By Marco Quiroz-GutierrezMay 24, 2026
4 hours ago
Dara Khosrowshahi speaks on stage and holds his palms in front of him, pressed together.
LifestyleUber Technologies
Uber CEO says rideshare ‘freed up’ his son from having to get a driver’s license—and he’s one of many Gen Zers who aren’t willing to drive
By Sasha RogelbergMay 24, 2026
5 hours ago
bofa
AIProductivity
BofA says you’ll be 10x more productive with AI. Ignore the 0.1% result so far
By Nick LichtenbergMay 24, 2026
5 hours ago
Inside the ‘stealth wealth’ playbook: How Silicon Valley’s elite buy multimillion-dollar mansions without leaving a paper trail
Real EstateLuxury
Inside the ‘stealth wealth’ playbook: How Silicon Valley’s elite buy multimillion-dollar mansions without leaving a paper trail
By Sydney LakeMay 24, 2026
6 hours ago
David Bennahum
CommentaryMedia
I was one of the internet’s first influencers. AI just killed the whole category — and created something better
By David S. BennahumMay 24, 2026
7 hours ago
Someone leafs through titles stacked in a library
AIResearch
AI hallucinations are infiltrating expert work—and entering the permanent body of knowledge
By Tristan BoveMay 24, 2026
8 hours ago

Most Popular

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
Success
Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
By Preston ForeMay 21, 2026
3 days ago
Apple’s Steve Wozniak says he cofounded the tech giant after 5 rejections from HP—not to ‘make money.’ For years, his paycheck was just $50
Success
Apple’s Steve Wozniak says he cofounded the tech giant after 5 rejections from HP—not to ‘make money.’ For years, his paycheck was just $50
By Preston ForeMay 22, 2026
2 days ago
Indeed chief economist says we’re entering an era of ‘great mismatch’ thanks to a generational imbalance of workers
Success
Indeed chief economist says we’re entering an era of ‘great mismatch’ thanks to a generational imbalance of workers
By Emma BurleighMay 22, 2026
2 days ago
Microsoft reports are exposing AI's real cost problem: Using the tech is more expensive than paying human employees
AI
Microsoft reports are exposing AI's real cost problem: Using the tech is more expensive than paying human employees
By Jake AngeloMay 22, 2026
2 days ago
This 39-year-old quit his lineman job during the pandemic and built a $50 million company in his backyard
Success
This 39-year-old quit his lineman job during the pandemic and built a $50 million company in his backyard
By Nick LichtenbergMay 23, 2026
1 day ago
Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
Workplace Culture
Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
By Preston ForeMay 19, 2026
5 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.