Opendoor vs Offerpad vs Cash Home Buyers: 7 Differences That Change Your Payout

Opendoor, Offerpad and a cash home buyer can all hand you a number for your house. The number on the first screen is rarely the money you leave closing with. Fees, repair deductions and closing costs come out between the two, and each company handles them differently.

Below are the seven differences that decide what you keep. The Opendoor and Offerpad details come from their own help pages, linked in each section. The cash buyer details are ours, from MalBuysHouses Nationwide. Other cash buyers set their own terms, so ask each one the same questions.

1. The service fee

Offerpad's FAQ lists a 5% service fee on its cash offers. On a $300,000 offer, that is $15,000.

Opendoor does not publish one fee. Its help page says the service charge varies and shows up in the offer breakdown on your dashboard. Read that line before you compare it with anything else.

We do not charge a service fee or realtor fees. The offer we give you is the price we pay.

Offerpad: service fee and closing cost FAQ

Opendoor: selling options and service charge

2. Closing costs

Offerpad says the seller and buyer each pay their own closing costs, which it puts at about 1% of the purchase price. Opendoor lists closing costs as a separate line in its offer breakdown.

We pay the closing costs. Your mortgage payoff and any liens still come out of the sale, the same as with any buyer, so keep those in your math.

Who pays closing costs in a cash sale

3. The repair deduction after the assessment

This is the line that moves the most. Opendoor calls it a condition adjustment. Its help center says the final offer reflects what the assessment finds and can go up or down from the first estimate. Worn flooring, an aging roof, an old HVAC system or water stains you did not mention can all lower it.

Offerpad sends a list of repairs after its assessment. You can give Offerpad a credit for them, hire a licensed contractor to finish them before closing, or decline. If you decline, Offerpad can cancel the contract. For significant repairs, a credit is the only option it offers.

Our first offer is our last offer. It will not change. Tell Mal about the roof, the basement and the things you would rather not fix, and the offer is built around them from the start.

Opendoor: why the final offer can change

4. Which houses qualify

Both iBuyers only buy certain houses. Offerpad typically does not buy homes built before 1950, lots over 2 acres or homes worth more than $1 million, depending on the market. It does not buy manufactured or mobile homes, homes with significant foundation or structural problems, or homes currently listed with an agent.

Opendoor says some markets limit the age of homes it buys, and pre-1930 homes may not qualify. It lists major structural damage, serious foundation problems and extensive fire, water or mold damage as reasons a home may not be eligible. It also generally needs a rented house to be vacant at closing.

Those are often the houses that need a buyer most. We look at older houses, fire damage, foundation problems and houses full of belongings. Send the address and tell Mal what is going on with it.

Opendoor: what types of homes it buys

Selling a house with foundation problems

5. How fast you can close

Opendoor lists a regular cash-offer close in as few as 21 days, or a date up to 60 days out. Offerpad lets you pick a date typically up to 60 days after you accept, with a minimum that depends on your state.

We close in 30 days or less, or on a later date that fits your move. Pick the date your plans need. The fastest possible close only helps if you are ready to be out by then.

6. Who you deal with

Opendoor runs the sale through your online dashboard with a Home Sale Advisor. Offerpad assigns a Customer Solutions Manager. Both are large companies with teams behind the process.

With us, Malachi Cooper, who goes by Mal, is your contact from the first call to closing. We do not sell your form details to other investors. When something comes up, you call or text the person buying your house.

7. What you actually keep

Here is a made-up example to show the math. Say Offerpad offers $300,000 on a house that needs a roof. The 5% fee is $15,000. Its own closing costs estimate of about 1% is roughly $3,000. Say the assessment asks for an $8,000 repair credit. That leaves about $274,000 before your mortgage payoff.

Now say a cash buyer offers $275,000 with no fee, no closing costs and no repair credit. That leaves $275,000 before the payoff. The headline offers were $25,000 apart. The money at closing is about the same.

Your numbers will differ. An iBuyer can come out ahead on a newer house that needs nothing. A cash buyer can come out ahead on a house with real repairs. Put each offer's fee, closing costs and repair line on paper and subtract them before you decide.

Cash offer vs listing with an agent

Which one fits your house?

An iBuyer can fit a newer, well-kept house inside its service area, owned by someone comfortable with an online process and a repair list.

A cash home buyer fits the houses outside that profile. Older homes, inherited houses, fire or foundation damage, a house you cannot fix before you move. It also fits a seller who wants one number that will not change.

Still deciding? Our comparison of five cash home buyers nationwide covers more options side by side.

5 Best Cash Home Buyers Nationwide in 2026

Get a number from Mal

Call or text Mal at (443) 806-8068, or send your address through the form. He will ask about the house and what you need, then give you a FREE cash offer. You can hold it next to any Opendoor or Offerpad breakdown.

Request your FREE cash offer

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