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A comment on Zillow seeks to sell 7k homes for $2.8B after flipping halt. Parent comment

Re:Zillow seeks to sell 7k homes for $2.8B after flipping halt by muttantt on Tuesday November 02, 2021 @01:45PM (#29084749)
Not true. I sold a condo to Opendoor recently and it was unlisted, just a private transaction. They overpaid very generously too.
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Re:Zillow seeks to sell 7k homes for $2.8B after flipping halt by foogazi on Tuesday November 02, 2021 @02:08PM (#29085135)
> They overpaid very generously too.

How do you know without getting bids from the open market ?

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Re:Zillow seeks to sell 7k homes for $2.8B after flipping halt by vrykoul on Tuesday November 02, 2021 @02:32PM (#29085491)
Not op, but a house in my neighborhood was sold to OpenDoor for $397k. It sat unsold for 3 months in an area where other homes are sold over asking on the day that they're listed. They finally have it under contract for $386k for a net loss of $11k.

You can see the transaction history here:

https://www.zillow.com/homedetails/125-Mays-Blf-Fayetteville...

Add in whatever fees go along with the sale, and they're out a fair bit more than that.

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Re:Zillow seeks to sell 7k homes for $2.8B after flipping halt by muttantt on Tuesday November 02, 2021 @06:04PM (#29088054)
I sold another condo in this same complex 2 months ago through a real estate agent. Far more painful process and got much less. Also see here: https://news.ycombinator.com/item?id=29087989

Opendoor still holds it, Zillow is already marking down a similar one by 14%.

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