Found 1 blog entry tagged as Cash Buyer.

The FTC just slapped Opendoor with a $62 million fine for 'misleading' customers about the true costs of its home buying business

The Federal Trade Commission (FTC) has imposed a $62 million fine on the home buying company, Opendoor, for misleading home sellers. The FTC announced the settlement on Monday, stating that Opendoor had falsely claimed that sellers could profit more by selling their homes to the company rather than through traditional methods. However, the FTC's investigation revealed that most sellers who sold their homes to Opendoor actually earned less than they would have through a conventional sale via a real estate agent. Opendoor, an instant buyer or "iBuyer", purchased 36,908 homes in 2021. The company buys homes directly from…

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