Re:FTC takes action to stop Opendoor from cheating potential...
by TuringNYC on Monday August 01, 2022 @06:28PM
(#32312915)
>>promising "you’d make more money selling it to them than you would on the open market".
If they were literally "promising" more money, that would be a big issue. When I saw Opendoor, it seemed to essentially be a Market Order for home selling. The promise was immediacy and the trade-off was lower-price. However, the immediacy also carried savings w/r/t not having to carry the property costs. So it could actually end up being a better deal to sell immediately depending on carry costs. I was just sad to see such a thin letter lacking details.
If they were literally "promising" more money, that would be a big issue. When I saw Opendoor, it seemed to essentially be a Market Order for home selling. The promise was immediacy and the trade-off was lower-price. However, the immediacy also carried savings w/r/t not having to carry the property costs. So it could actually end up being a better deal to sell immediately depending on carry costs. I was just sad to see such a thin letter lacking details.