Home Sellers RIPPED OFF FOR MILLIONS! Opendoor Scandal

Opendoor is now going to have to refund 55,000 home sellers across the nation $62 million due to then promising they would make more money selling to them when in fact that was not the case.
Need a Realtor? homeandmoney.com/michael/
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#realestate #housingmarket #homeprices #housingmarketcrash
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DISCLAIMER: This video content is intended only for informational, educational, and entertainment purposes. Michael Bordenaro is not a registered financial advisor. Your use of Michael Bordenaro’s KZbin channel and your reliance on any information on the channel is solely at your own risk. Moreover, the use of the Internet (including, but not limited to, KZbin, E-Mail, and Instagram) for communications with Michael Bordenaro does not establish a formal business relationship.

[@MichaelBordenaro]

MASSIVE ANNUAL HOUSING EXPENSES CAUSING MAJOR BUYERS REMORSE! kzbin.info/www/bejne/p3qTg4uVe9WGrdk

[@marissa9]

Thank you for always delivering such great content. I really look forward to hearing your take on the housing market regularly.

[@nicolasbenson009]

fear a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.

[@berniceburgos-]

Consider reallocating from real estate to other reliable investments like stock, crypto or precious metals . Severe recessions offer market buying opportunities with caution, as volatility can yield short-term trading prospects. Not financial advice, but it may be wise to invest, as cash isn't ideal in this period.

[@tatianastarcic]

Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.

[@Michaelparker12]

nice! once you hit a big milestone, the next comes easier.. who is your advisor please, if you don't mind me asking?

[@tatianastarcic]

Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.

[@BridgetMiller-]

I just looked her up on the internet and found her webpage with her credentials. I wrote her a outlining my financial objectives and planned a call with her.

[@darnellcapriccioso]

I think it's time to make it more appealing for potential buyers. Real estate can be quite the rollercoaster! the stress and uncertainty are getting to me. I think I'll cut rents to attract potential buyers and exit the market, but i'm at crossroads if to allocate the entire $680k liquidity value to my stock portfolio?

[@maiadazz]

"Overall, buyers hold a lot of the cards right now, and sellers are having to give out more concessions to close a deal." All the best, buying on sale is actually one of the best ways to invest in stocks, and advisors are ideally suited for such task

[@krisgrigo]

Until the Fed clamps down even further I think we're going to see hysteria due to rampant inflation. If you are in cross roads or need sincere advise on the best moves to take now with financial markets will be best you seek a fin-professional with fiduciary responsibilities who knows about mortgage-backed securities for proper guidance.

[@richardhudson1243]

this sounds considerable! think you know any advisors i can get on the phone with? i'm in dire need of proper portfolio allocation

[@krisgrigo]

Tenley Megan Amerson is the coach that guides me, you probably might have come across her before I found her through a Newsweek report. She's quite known in her field, look-her up.

[@tatianastarcic]

I appreciate it. After searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.

[@ryanwilliams989]

In my opinion, a housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living.

[@StellaMaris-lv2uq]

I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!

[@maryHenokNft]

You are right! I’ve diversified my 450K portfolio across various market with the aid of an investment coach, I have been able to generate a little bit above $830k in net profit across high dividend yield stocks, ETF and bonds.

[@maggysterling33254]

@@maryHenokNft Kudos on the effective execution of innovative ideas and tactics that lead to significant advancement. As I seek guidance from a trustworthy advisor, would you be willing to share details about the individual assisting you?

[@maryHenokNft]

The decision on when to pick an Adviser is a very personal one. I take guidance from *Gertrude Margaret Quinto* to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.

[@BiancaSherly-qt6sb]

I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.

[@pinschrunner]

Just say no to fractional block chain home investments and sponsors. Let's bring back the American dream of homeownership

[@MichaelBordenaro]

Thanks for the feedback

[@wildbillbegleyjr.3523]

I'm afraid our American dream is gone forever..

[@dertythegrower]

Won't stop.. if Florida isnt stopping it, you wont...

[@dertythegrower]

​@@wildbillbegleyjr.3523(insert George Carlin 'American Dream clip' 🎉)

[@ALLworldCONSTRUCTIONLLC]

yea think you'd take a big hit in growth, but you might get shorter term payout... but you know how that plays out.

[@kmlund42]

Don’t sell out Michael to organizations who will try to control your content. The brilliance of this channel is that it is for the little guy. Seems there are scams a plenty everywhere you look.

[@VroodenTheGreat]

I had a company trying to buy my rental property for YEARS. One day I'm in Costco shopping and they called, so I was like WTH, lets see what they have to say. The offered me 40% of what my house was worth. I just laughed at them and told them to put me on their do not call list.

[@MichaelBordenaro]

What a joke. The sad part is some people go for it.

[@VroodenTheGreat]

@@MichaelBordenaro That's their whole business model... "people are stupid"

[@stephenlea5765]

@@VroodenTheGreat…or in desperate need of quick cash.

[@jameskozlowski5496]

You should lead them on like you'll take it. Waist there time then ghost them.

[@bizHammer]

opendoor is scam.

[@jkmarshall3553]

If a private homeowner agrees to sell his/her home to Opendoor (or anyone else), and afterwards feels cheated, then I see this as the fault of the owner plain and simple.

[@smeff099]

This, right here. If the seller received and signed an offer that is their fault for having second thoughts afterwards that they could have gotten more.

[@SomeUserNameBlahBlah]

I think the argument is the sellers paid more in fees and other costs vs. a real estate agents.

[@keyisersoze]

As my father used to say, you have what you deserve.

[@IP0Monsturd]

True, I had to sell a home I owned years ago. First day listed an old couple came by and gave me a lowball offer. I gave those old farts the bums rush. A week later the home sold for list.

[@kilnmaster]

Yes it is. But at closing? My God we had no time. Statements at closing. Caught off guard.

[@acars9999]

The reason no one reads contracts is because they are deliberately not understandable. Mandate plain language contracts!!

[@dertythegrower]

Basically every owners manual for every thing that has an electronic is all lawyer jargon on purpose.. the famous south park humancentipede episode really proves this on a hilariously deep dark level

[@ShaferHart]

Problem is they need to be specific in order to be enforceable. Maybe they could include a reasonable, human readable summary on top of the legal contract.

[@fueledbymusic3]

For me. It's because they are like 1800 miles long and EXTREMELY complex

[@jerryspence3150]

ya gotta keep the lawyers employed. Lawyers basically ruined this country.

[@acars9999]

You are absolutely right. Screw corporate buyers. If you think a corporation is EVER in your favor, think again!

[@jefferykeeper9034]

The BBB is a big fat joke !!!

[@joycedudzinski9415]

Agree

[@Stop-loss-BoSS]

It’s a paid subscription now

[@SR-lx9xk]

What is BBB?

[@Stop-loss-BoSS]

@@SR-lx9xk better business bureau

[@user-db2ob2jc2f]

It's as Fraudulent as FTC, FAA, FCC, SEC, FDA, FTD, AMA, CDC, ADA, NIH, AIC, IBF etc etc.

[@ronlarson6530]

I totally agree with selling to a young family!!! 😊

[@ZodiacEntertainment2]

My old roommate and his wife recently got married and started looking for a home. They were able to buy one for a good price because an older retired couple was looking to offload their house so they could spend the rest of their lives traveling around the country in an RV. They really fancied the idea of selling the house to a newly wed couple looking to have kids so they declined some of the bigger offers from corporate buyers to sell to them- they were even kind enough to provide a detailed description of all the issues with the property that needed to be repaired.

[@hallhv01]

Can't do discrimination... Fair housing act. You'll sign to that law when you list. Age, race.....

[@spudruckus7297]

​​@@hallhv01 yes.. I am sure people are out there stating their explicit preferences in a way that would open themselves up to a lawsuit 🙄. There are ways to get things done to your preference without shouting it out to the free world and every special interest group that would come after you for doing an - ism.

[@user-db2ob2jc2f]

MOVING FORMULA: Rent Mid size Truck. Drive it Yourself. Hire Few Day Laborers. Pay em well including Meals. And be Happy.

[@championmagnus]

Been doing it for years. Doing it again when I move in 2 months. I get a uhaul and pay them to load it. I drive it to new place. Same or new loaders unload once there. They have no power over my stuff and it's cheaper and I'm in control.

[@mikeifyouplease]

Michael, I respect you for not accepting sponsorship from a company that you feel iffy about. It makes you appear to be a pretty honest guy. I appreciate that, and I suspect a lot of your other fans do as well.

[@rokyericksonroks]

Open Whore is looking to buy a sponsorship. Should they pass on Bordenaro? They can’t clear his hurdle for integrity.

[@carefulconsumer8682]

Neighborhoods are getting filled with more rentals and going downhill -- noisier, filthier, etc. Absentee owners don;t care as long as the house tenant pays the rent.

[@BoomBurster]

My landlord did this. Renovated a house and my gf and I moved in because it was nice- our first place together. After a year she put this woman in. Turns out this woman had an extensive history and damaged a ton of property of ours. Got our upstairs neighbors kicked out too. I was so angry. That woman disrupted the entire neighborhood and every neighbor knew it too. Cussing at her children, baby dad in jail, and 100% a fraud. Her case history spoke for itself. I was pissed and now my landlord has a property with 0 tenets.

[@judymckee5992]

@@BoomBurster , I got a house in a owners only neighborhood but they don't have monies to keep it up. I got my house top of the line and rent it out to only working folks. I had neighbors thanking me.

[@annmarie1689]

Yes, trash all over and lots of them have dogs bark all the time they do not assimilate into neighborhoods. Absent landlord.

[@carefulconsumer8682]

@@annmarie1689 Rentals in single family home neighborhoods should be banned imo.

[@amrice62]

Please don’t let fractional be your sponsor. You’re take is correct. Let the investor viewers look at that elsewhere. You are and have been here for us , this is a well esteemed channel and highly interactive, much to learn and has been learned from followers. Stay the path, please Michael

[@cydonia3167]

I'm planning on selling my home this summer and I absolutely will not sell to an investor. It's a small bungalow, perfect for a first time home buyer and I have investors trying to crawl up every orifice to get their hands on it. Not gonna happen, my home will be passed on to an actual person, not a bunch of corporate bottom feeders.

[@s99614]

Real estate is full of fraud.

[@user-sd5ow2lz9o]

Most every business is ripe with fraudulent players. Uncontrolled greed is destroying our society.

[@pinschrunner]

Open door paid way too much for a home in our subdivision and took a $75k bath on it several months later.

[@NFL1976]

Nah. Somehow they made money, or got some type of a write-off. Just because they have zero ethics, doesn't mean they're stupid. It's the unsuspecting, hard working sellers/buyers that lose in the end.

[@MichaelBordenaro]

Oh yeah, I’ve seen plenty of those

[@stephenlea5765]

Here in Texas, our County Tax Assessor would’ve used that as a comparable sale to justify inflating the value of all property in that neighborhood, thereby increasing everyones annual property taxes. We pay on the unrealized value of our home based in the current market of homes that have sold.

[@rheahorvath9274]

Guess who makes up the 75k?

[@mattprowant5076]

@@MichaelBordenaro I've seen a lot of those too. I had an offer into Opendoor for $720k and they rejected my client since he was $15k low and that home ended up selling in the low 600's. I bet Opendoor were kicking themselves on that one!

[@marksears1124]

I can't BELIEVE HOW BEAUTIFUL the sky is there. Michigan here.

[@truthseeker1959]

It would be even more beautiful, if it wasn’t for the poison jet trails……………✈️

[@pinschrunner]

We have had few kemtrails lately. They die hit us last night and today in FL rhough

[@PonyGirl004]

it's pretty much always like that, too

[@gumerzambrano]

Same here in LA

[@judymckee5992]

You should see these islands in the Canaries, lovely sky and perfect weather in winter, FYI You also can leave for cheap in south Florida in a 55+ community called Centuryvillage, deerfield beach, boca Raton and pembrooke pine

[@thomasreynolds1530]

fractional ownership of a home is even worse than a timeshare. What a terrible idea.

[@newyork8415]

Crooks everywhere.

[@gregorylyon1004]

Everyone wants something for nothing. Look at pension funds. LOL

[@carefulconsumer8682]

Thanks for the update. The only two reasons I see people selling their houses in my area are : 1) job change to a different city and/or 2) they have trouble affording the soaring property taxes and insurance.

[@borlanderobertson5666]

My neighbor sold his house below market to help a local guy. He lived there a year and now Said guy rents it for $700 more than I pay for a 300sf bigger house next door. 😂😂😂😂

[@maxwellblackwell5045]

The written word is not your friend. Good thing I have high reading comprehension. I needed every bit for your comment.

[@Norm475]

Three years ago I sold my duplex to a former neighbor that wanted to get back into the neighborhood. I sold the house to him on his first offer, He offered me 20K under the appraised value and I accepted his offer. He was a great neighbor and I didn't have to pay any real estate commission, and he didn't rag me about fixing every little thing. Since I was moving into a rental I even gave him my snowblower, lawnmower, weed eater, air compressor, and washer and dryer, which I no longer needed, since the rental had a washer and dryer, and I was not responsible for snow removal or lawn care, I also had another air compressor.

[@lanialost1320]

We did the same. Sold our home in Massachusetts to our neighbor's daughter and her husband $25K below market, but the whole family was really kind and generous to us for over 20 years. It was wonderful for her parents to have her, her hubby and kiddies live across the road from them.

[@recabitejehonadab2654]

Nice of you to include all those goodies with the house.

[@jjohnson8977]

True story? Seems to crazy to be true tell us more

[@maxwellblackwell5045]

Do you want a pat on the head? What is your point?

[@andredaedone7732]

They called me when I was selling my house by owner in Florida in 2021. Told them I wasn't interested

[@bigb6046]

Me too I told that to several realtors too that stopped by.

[@marknewton6984]

I just give them a ridiculous price. They fade. 😮

[@marknewton6984]

Give them a high price and see how they run haha! 😮

[@Jeannified]

There is so much you have to look out for, if you decide to sell your house! Scams everywhere!

[@pinschrunner]

These moving scams are common and disgraceful. Holding your possessions hostage is very common especially interstate

[@Clarktherealtor]

I talked about this lawsuit, what they did to a customer I was helping and more on my channel. This settlement happened in 2022. Class action lawsuit for $62 million. Opendoor charges a 5% service fee, 1%-4% closing cost fee and then add on additional repair cost. So, you get less using these companies instead of using an agent. It is a mess.

[@AD-wm9if]

I paid a moving company to pick up my stuff from my parents' house in OK to drop my stuff off in NY. They quoted me a price. I paid extra handling for my motorcycle. They showed up, tried charging me an extra $1000 because they said the moving truck couldn't get into the neighborhood (it did, it was fine), the company contracted for some dude to drive my stuff in a truck, he was 4 days late, he texted me the night before about this extra thousand dollar charge. The moving company charged me $2000 over the quoted price, my motorcycle showed up with a cracked windshield because they stuck stuff on it. They overstated the weight of my shipment. They also tried charging me extra for the apartment staircase. The moving guy showed up to move all of my stuff BY HIMSELF and asked me to do it. It was AWFUL. I will only move my own stuff from now on.

[@MichaelBordenaro]

That is so terrible

[@sues3218]

Tell who the company is so that people can avoid them.

[@bigb6046]

A lot of moving companies plan to "pad" the bill on as many moves as possible , especially long moves from one city to another , no so much on local moves. I knew a guy that had a pretty large residential moving company and a lot of the revenue came from over charging as well as penalties and extras.

[@timsmothers8740]

Perhaps you should research or try a legitimate well known moving company. I have a very good friend who is constantly busy af moving people out of California. He is a true professional and has 45 years of experience. It's sort of like the saying Good Lawyers aren't cheap,and Cheap Lawyers aren't Good.

[@goosegray]

Moving companies are shit, if you're able bodied, take a day off and get sweaty. Saves hundreds if not thousands of dollars and tons of headaches.

[@jenna6256]

No, No, No to block chain. It'll be impossible for kids to inherit their parent's home when/if we go on the block chain.

[@user-kq6sh8tg5f]

These companies are always sending me messages and mail begging me to buy my house!

[@jimb3093]

Me too!

[@johnjaco5544]

Me too.

[@MichaelBordenaro]

Yep there’s a lot of money in stealing peoples houses

[@user-kq6sh8tg5f]

@@MichaelBordenaro Unfortunately.

[@VroodenTheGreat]

They're calling me, trying to buy the one I LIVE IN. They have no shame.

[@lordinquis8r679]

Thanks, Michael! I’ve always been suspicious of Opendoor, tore up the come-on advertising they sent and put it in recycling. Much rather do business face-to-face with real people.

[@SirCarlosMusicBMI]

🎉🎉🎉🎉 Now that I’m done watching this video I have to say that MOVERS ARE SCAMMERS in general. I’ve hired movers several times and each time it was an absolute nightmare 😱😱😱❗️ Please everyone get a full contract in writing before you let anyone touch your stuff!!!! Also I’ve done several cross country moves and have placed those “Air Trackers” in several boxes so that I could see where my stuff literally is at. So many moving companies simply are NOT Movers! They just SUB the work out and then you’ll have no idea as to who actually shows up. PLEASE DO YOUR HOMEWORK Before hiring any moving company. Best of luck to everyone. Blessings,Carlos ✝️🙏❤️😊🇺🇸

[@ukjw2]

Open door bought my home for 20% more than local realtors wanted to list it for. They ended up selling it for 1k more than what I took home from the OD buy. They lost.

[@steelem422]

Do not take the sponsorship you don’t need the money so no reason to go against what your gut has already told you. Thank you for sharing what you do each day!

[@School_Me]

Open door is no different than a car dealership, they are providing a service for people that can’t wait for months 😮 nothing wrong with that if people want speed

[@connie9766]

I love your podcasts Michael. I moved to Florida from Las Vegas, NV in 2022. The Vegas moving company quoted me a flat price after I had advised them a competitor had quoted me a better price. I packed everything yet still ended up paying $10,000. When the driver pulled into our subdivision, he could not maneuver the truck to my street so he held my household items hostage. The drive required $600 before we could hand cart our belongings down the street. Just a horrible experience.

[@InvestingWithAdamK]

I sold one of our properties to opendoor at a great price. I was shocked at what they offered us. They sold it for less than what they paid about a year and a half later. I was thrilled with what we were offered. I was going to list for less.

[@vinniephillips452]

You should’ve bought it back from them. Keep the overhead in the bank and put it back on the market.

[@InvestingWithAdamK]

@@vinniephillips452 I was happy to get rid of it.

[@MichaelBordenaro]

Wow, I wonder how common that is

[@InvestingWithAdamK]

@@MichaelBordenaro not sure. Just looked out of curiosity and it’s been over 2 years and according to Zillow is barely worth more now. Market in Vegas has been pretty strong

[@abilyn3287]

Same!

[@Danny-bd1ch]

Why cut rates? They have been artificially low for over twenty years.

[@DH-oi4kr]

I entertained an offer from open door. I knew it was a scam. They said no expensive repairs but they deducted the costs it from their offer. I examined the prospective closing statement and it was substantially lower than if I sold it myself. Moral of the story is no free lunch

[@nancys9698]

Your Subscriber count has gone up! Whoo Whoo! 🎉Keep up the good content I watch every video you put out. 😊

[@burntpopcorn7543]

I like my real estate agent that we used 20 years ago. She still sends us updates on what the market is doing every couple months.

[@steveareeno65]

I bought my house in the villages Florida from an investment company in August 2023. A couple months ago I got a letter in the mail from the same company offering to buy the place, lol.

[@colettespencer3357]

Do you like it there? Myself and a friend are thinking about living there when retired

[@ballaratevil6048]

Hi from Australia have a Great day and Thanks again for the Updates.

[@MichaelBordenaro]

You’re welcome. Glad you enjoyed my content all the way out in Australia!

[@PonyGirl004]

That happened to me in Tampa the last time I hired movers. Quoted me one price and at the final destination, they wouldn't unload the truck until I paid almost double the quoted price and made me sign a damage waiver without seeing anything. It was just me and a couple guys in the dark (of course they were late)..what could I do? They do these scams when you're vulnerable. Normally I don't like government intrusion but sometimes it's needed.

[@thetapheonix]

Yeah that’s super scummy. The way around it is to have them move things that have a total value less than the cost of the move or sell everything and rebuy at your destination. That way if they ask for more you refuse, now they eat the cost.

[@geraldkoth654]

If they tried to pull that on me, there would be some non alive movers and I would carry my stuff in.

[@icutrauma1rs690]

In this day and age why would anyone trust a corporation of any size. The laws are so ridiculous protecting these companies how do you run a deficit of a billion dollars and continue to function or even be allowed to continue?

[@sues3218]

There are lots of these zombie companies. The government keeps bailing them out, when instead they should let those companies get flushed down the toilet.

[@FamousWolfe]

Michael, thank you so much for the segment regarding moving company scams! I'm literally planning on moving out of Utah and back to my home state of Florida in the coming months, and naturally I was considering using a moving company for such a long trip. After watching your video though...I've decided to just let go of as much as I can and haul the rest across country in my pickup truck and maybe a U-Haul trailer or something. It'll definitely be cheaper than getting scammed by a moving company, that's for sure. Keep up the work you do, you're helping more people than you may realize!

[@ayulai7414]

You can try using U-Haul box or POD to move. Used U-Haul box before and it’s quite seamless. You can get a quote online by your request and box delivery date. They would charge you box delivery fee from the U-Haul location to your driveway if you don’t want to pack your box at a U-Haul facility. Then they go by the number of days you need the box including the travel days on the road. I did it with the box sitting at the driveway for 5+ days to pack, scheduled them to pick up, then had them delivered to the new place front door to unload. I was very pleasant with the experience and definitely saved lots of money without dealing with a moving company. I didn’t go with POD because of some horrific reviews I read online.

[@user-kk3qg5el1m]

I can see why the foreclosures are up, I have seen a lot of videos on TikTok where people who purchased homes recently especially the new construction were blindsided by the escrow increase due to property taxes not calculated true to their home value at closing. some are saying their mortgage has increased almost 1k per month.

[@patriciamay6396]

The most devastating experience with a business we ever had was the bait and switch scam. Quoted us $12,000 to move us across country. On moving day they said we had more than the estimate showed so raised price to $23,000. New owners were moving in the next day, so we had to pay. We deducted the moving expenses on our taxes (this was 2016) and were able to recover about $9,000. A very hard lesson.😢

[@timothyhobbs5256]

Yeah happened to us last year moving across the country. Ridiculous

[@joseenoel8093]

They're thieves!

[@jims8828]

That's why I used PODS during my last move.

[@Norm475]

The same thing happened to my brother, only they wanted another $10,000 before they would deliver the merchandise to his house. They also stole some of his stuff.

[@judymckee5992]

Buy a moving truck and hire people to load your stuff and a driver. When u reach the destination, used it for storage as u are renovating your new home or sell the truck. I did that and landed out of pocket $2k

[@rasbot2]

Two Men and a Truck have moved me twice within Florida, no problems,

[@IsItBiblical2023]

I had a horrible experience with my last move. They quoted me in the 700's and then charged over $1500 before they would unload.

[@alexfarid5144]

I get tons of calls from average people who probably work for investors or corporate entities who want to buy my house . Price of the homes will not go down , Land , Materials and Labor are expensive . Even with foreclosure going up there is no reduction in home prices , Inflation is the problem . Everybody is in the scam business , from banks to real estate companies , moving companies , city , county , state , federal and even utility companies .

[@user-kk3qg5el1m]

I’m already seeing price cuts and more open houses every weekend for the same house. They will come down or they will sit.

[@pinschrunner]

I always re-read the FARBAR contract, especially to calendar out any deadlines and make sure that I micromanage the details and confirm and comply

[@grabthemappodcast]

Thank you for addressing the important issue of scams in real estate and moving services. Your video serves as a valuable reminder to prioritize consumer awareness and protection. Keep up the fantastic work!

[@AR-sb5yc]

You absolutely right, people never read the contract. When we ask detailed questions we have been told that nobody ever asked them that kind of questions. It happens every time whether we are buying or selling property, applying for mortgage or moving.

[@Annajsee]

Another issue here is the real estate agents are not presenting all offers… say they get only one offer below asking price they won’t present it they won’t even tell the seller about it. I’ve had countless emails and text messages proving this exact incident.

[@jamesdonald7485]

Using the house to fund the lifestyle is ingrained now for a number of years. It's the same in New Zealand ( my home country) but it is changing - slowly and reluctantly!!!

[@lawyer1165]

When contemplating my cross-country move upon retirement, I got bids from Mayflower and United Van Lines. It turns out that both movers were owned by the same parent company. So much for price competition. I can't recall whether their drivers were employees or independent contractors. In the end, I settled on U-boxes from U-haul, which worked out great for half of the cost proposed by the movers.

[@syoung4471]

Oh, yeah the moving scam has been goin on for a long time now. My parents moved from Sedona to FL and got one of those companies ( back in 2011 I think). They gave them 3k moving estimate. Then after my parents were already in FL, they contacted them and asked for basically another 2k or something like that because of new expenses. Then ended up not even getting their stuff out of the state. They were extorting their property, so my dad had to fly back and met them at a storage place in Phoenix. It was a huge mess and after their experience I would never use a moving company. It would just be cheaper and easier to sell everything at a garage sale/FB market than deal with that kind of bs. I also found multiple reviews for that company and similar back then with people that were also extorted like that. I don't know why it's taken this long for something to finally be done about this scam legally.

[@mommom3172]

OMG. I live in Florida and would love to move to Sedona. One of my favorite places and Oak Creek Canyon

[@mohhingman]

I was once scammed by a moving company that just plain old stole some of my stuff. Lost my whole collection of super nintendo games! And they claimed they never saw it.

[@bryant6524]

I tried twice on 2 different homes to sell to Open Door. Both times failed. After several video conference calls Open Door would give me various excuses why they'd not proceed. I knew I'd get less with them but wanted to move quickly. I had to list traditionally and wait it out.

[@rfkcous]

$62 million, 55,000 sellers? An average of $1,127/home, 0.3% of the median price of a $412K house in the US. Not even a slap on the wrist for Opendoor.

[@peppermintpatti5152]

Hardly. Wow

[@brucesalta3271]

I agree with you and it's wise to stay away from blockchain marketing ploys

[@mariatennyson429]

Happy to hear you can not be bought by just anybody, if it goes against your principles. God bless😊

[@halfdollar1]

Oh yeah i got juiced when I moved. Estimate was $3000. The day the movers arrived the guy told me it would be $6000. SOB’s messed up so badly including the loss of all my screws and bolts for my bedroom set. The arrival movers were lingering around for a tip. Told them all to leave immediately. Major scumbags. Never recovered the repair costs. I was very fortunate that my contractor is bery talented and assembled my bedroom set for a price of course. I do mot plan to move again but if I did the furniture will be donated and the rest goes in a pod

[@americodiloretto217]

Thank you for sharing. I appreciate what you're doing on KZbin. Aloha from Honolulu.

[@TrueBeliever6491]

Great info per usual. Love this channel.

[@deborahheckstall1881]

LOVE❤YOUR REAL ESTATE VIDEOS YOU TELL THE TRUTH THANK YOU SO MUCH.

[@brians2328]

Movers tried to charge me a "long push hallway" in Miami!! I said WTF is that, I'm not paying it !!

[@jangheedavidhan6253]

Thanks for the info bro!

[@jimb3093]

Agreed, sell the house to who you want. How tragic you sell your house, that you remodeled etc, to only be bought up by a corporation or someone else purchases it, and they simply tear it down.

[@MichaelBordenaro]

Exactly it’s a horrible decision

[@VroodenTheGreat]

As someone who has owned many houses over the years... remodel the house for yourself and enjoy it. Don't wait until you want to sell it to fix it up.

[@Rockerlady]

​@@VroodenTheGreatHow many years did it take you to buy your first home?

[@BREEZYM6015]

If I make a decent profit off of it then why would I care? 😂

[@VroodenTheGreat]

@@Rockerlady let's see, it was 2002, so I was 34 years old. I sold that house for a nice profit in 2006...

[@lovethemflowers]

I saw a tv ad today for Open Door. Looked like some press conference with a sports figure.

[@lee_time]

I had a couple that buy houses for cash..told him i was looking to sell as soon as i finish my renovations he was like a fly on crap...told him no i want it to go to a couple...michael do i as a seller have the right to know who is interested in buyong..appreciate ya

[@MichaelBordenaro]

Yes, absolutely absolutely you have every right to know who’s buying your house. And if you’re not comfortable with the buyer, don’t sell it to them.

[@pinschrunner]

I thought u could t discriminate??

[@jkmarshall3553]

@@pinschrunner "They" can't force you to sell to someone you don't want to sell to. Now, if you involve a Realtor, it gets a bit stickier.

[@thedude8526]

​@pinschrunner If you have a realtor and tell them you aren't going to sell based on something like race and sexual orientation, then yes it could be seen as discrimination. You would be dumb to tell your realtor that though. If you want to sell to a young couple because you want them to enjoy your home as opposed to Joe Money Bags, that will likely use it as a rental investment, that's not discrimination.

[@mommom3172]

​@@pinschrunneryou can't discriminate based on protected classes, but you can absolutely decide whether you want to sell to real individuals or corporate investors. You can even have buyers submit a buyer's disclosure. Ss long as the questions do not involve protected classes: race/religion/nationality/orientation etc.

[@WhySoLoud]

Just for "s and giggles" I asked and OD quoted me $189k, I said no and after a very busy open house weekend it ultimately sold for $375k. Never, never, ever go with those "Sell it quick" outfits.

[@charlenewilliford6957]

Very helpful and varied content; especially movers❤

[@rosewiegman3326]

Thank you for info,I was always hesitant to buy there

[@vadra380]

That is why greed does. Everyone wants it now but it comes with a price. Patience is a virtue.

[@sharonlee7107]

I love your channel, It's nice to see someone that has your shit together 😊

[@tessramos8828]

Hello Michael 🌻 Some real good content . . You tell it like it is Much Appreciated 🌄

[@MichaelBordenaro]

I appreciate that! And I always will

[@youmarc11]

If a seller is willing to sell cheap as is for a quick sale how is that the buyers fault?

[@MichaelBordenaro]

It’s not the buyers fault.

[@jkmarshall3553]

I agree. Seller beware/Buyer beware.

[@hvaball150]

Read the law suit they just lost then...

[@s99614]

The rent is too damn high!

[@jimmyamico4713]

Another phenomenal video MICHAEL ❤

[@mr.elastomeric1787]

Straight Knowledge; thanks Michael.

[@fcojgines1]

I 💕 your comments! Very funny for me! Keep up your great job!

[@azwife1715]

Dont see sold in 72 hours anymore, that was big in AZ😮

[@Alex-jx5bx]

Still was getting Opendoor junk mail 😊

[@user-sd5ow2lz9o]

Still is somewhat common in some areas where they don't have a lot of new houses being built, so there are only resale homes to choose from, and not enough of those are being put up for sale these days, as most owners can't afford, or just don't want, to sell their old house with their lower mortgage interest rate, just to have to pay much more per square foot for most any house they would then have to buy to move into, plus pay a much to higher interest rate if they would need to take out more money than they made off selling their old house.

[@ralphseewald4069]

I had a friend move from Michigan to Texas. Hired professional movers, they quoted him $2500 By the end, it cost him almost $10,000.....and it took them 30 days to deliver his stuff

[@sues3218]

What is the name of the company so people can avoid them?

[@Juliet875]

I'm also hearing Interest rates will remain high throughout 2025. Opendoor typical corporate thieves, never had home owners best interest. Really surprised they haven't folded yet with all the problems they have had. Get everything in writing when dealing with movers or anything along those lines to protect yourself. Thank You Michael and Happy Sunday!

[@jkmarshall3553]

It's a business... they're main focus is making a profit, not being nice.

[@MichaelBordenaro]

Happy Sunday, Juliet!

[@Bob-cd5pp]

Hi Mike , I agree every other add on radio in CA. IS BUY YOU HOUSE FOR CASH ADDS . And your are right they pay as much as 50% below market value what a scam . Thanks for covering this / Real Estate is such a Mess Now .

[@luisvilla799]

I always notice on the real estate website other than the local listing the same listing was always more expensive on the websites and then you have car salesmen selling you homes

[@azbob1951]

Michael, in 2021 Open Door bought our far northwest Phoenix 1,400sf townhome for $200,000+ more than we paid for it ten years earlier at $110,000. I understand they sold it for what they paid us.

[@MichaelBordenaro]

I’m not surprised. These guys have lost billions now on poor flip deals.

[@jjohnson8977]

I sold a home with cracked foundation. An investor bought it, covered up foundation resold it the house was.then purchased by open door and resold. New owner has no idea foundation is cracked and payed way over value of home. Oh well that home had big problems, but not my problem any more. Glad its gone

[@waynethompson1461]

How about discount brokers; the home next to me that used a discount broker sold for 40k less than an identical one a few doors down represented by a full service Realtor. That is on a 310k home. The sellers thought they were smart, they saved 2k on commissions and lost 38k.

[@MM-fh6kp]

Bringing awareness to a subject is good Micheal…..It would be nice to hear your views on the shared purchases!

[@mattanderson6672]

Thanks Mitch

[@rhondae8222]

I appreciate your informative content. Thank you.

[@MichaelBordenaro]

My pleasure!

[@kevinpratt-ge5ye]

Sounds like they should be called Closing Door.

[@MichaelBordenaro]

Or open Wallet

[@davequige5732]

Thank you for this video! It has come down to easy is always a scam.

[@vinjames9334]

Jesus, I see those signs everywhere. I had one call me trying to buy cash, but gladly told them I was already under contract with a backup offer. 250k in my pocket 👌. Already in my next home and paid lower then what they paid for it in 2008.

[@peppermintpatti5152]

Wow the sky there is beautiful michael.