San Francisco-based Opendoor will work with customers of all the nation’s homebuilders to allow buyers to sell their existing home to Opendoor and buy a new home in one simple transaction.
The startup initially tested the idea with homebuilding giant Lennar in Las Vegas and later worked with 19 of the industry’s top 25 homebuilders.
Opendoor buys homes for a fee, 7 percent on average, paid by the seller plus concessions to make repairs that would be necessary in a traditional home sale. Convenience…
