Knock vs Opendoor vs a Local Cash Buyer: Which Fits a Southern California Seller?

Knock, Opendoor, and a local cash buyer get compared as if they were three versions of the same thing. They are not. Knock is a bridge program that helps you buy your next home before you sell this one. Opendoor is an iBuyer that makes a cash offer on eligible homes. A local cash buyer like SHH Buys Homes buys your house directly, as-is, on a date you choose.

Pick based on the problem you are solving. If you need to buy first and your current home is market-ready, Knock is built for that. If you want a mostly digital cash sale and your home qualifies, Opendoor may fit. If the house needs work, has tenants, or has to close in under three weeks, a local cash buyer is the route that actually closes. Our Opendoor vs local cash buyer guide covers Opendoor in depth; this post adds Knock.

The Three Routes at a Glance

How Knock Works

Knock is not a cash buyer. As of its published program, Knock provides a bridge loan that lets you make a non-contingent offer on your next home before your current one sells. The loan can cover the down payment on the new home and, for a limited period, payments on the departing home while it is listed. You then sell the old house through an agent and repay Knock from the proceeds.

Knock charges a program fee, stated as a percentage of the new home’s purchase price, plus loan costs and interest, as of its published terms. On top of that you pay the normal costs of a listing: agent commission, pre-listing repairs, seller closing costs, and carrying costs while the home is on the market. Knock operates in selected markets through participating agents and lenders, so check availability.

What Knock solves is timing: move once, avoid a home-sale contingency, show the old house empty. It does not solve a house that needs work, a tenant who will not leave, or a firm date. You still need a retail buyer.

How Opendoor Works

Opendoor is a national iBuyer. You request an offer online and receive an Estimated Home Value, complete a home assessment by photos or a walkthrough, and Opendoor prepares its final cash offer. That offer shows a service charge, a condition adjustment for repairs found during the assessment, and estimated seller closing costs. As of its published terms, closing takes 21 to 60 days after you accept, and you can decline the final offer without a cancellation fee.

Two things matter for the comparison. The first number is not the final number, and the final offer can move after the assessment. And the offer is take-it-or-leave-it: Opendoor does not negotiate the way a private buyer does. Eligibility is decided home by home, so a house with major deferred maintenance, unpermitted work, or tenants may not receive an offer at all.

How a Local Cash Buyer Works

A local cash buyer looks at the property, estimates the repairs, and gives you one written number. SHH Buys Homes serves Los Angeles, Orange, Riverside, and San Bernardino counties from our office in Upland. We buy as-is, charge no fee or commission, pay standard closing costs, and negotiate directly on price, closing date, and what stays in the house. You can close in as little as 7 days or pick a later date that lines up with your next purchase.

The trade-off is price. A local buyer prices in repairs, holding costs, and resale risk, so the offer sits below retail. Our guide to how much cash buyers pay in California explains the formula: roughly 70 percent of after-repair value minus repairs, higher on cleaner homes.

Worked Example: A $500,000 Home in the Inland Empire

Use the same net-proceeds logic for all three routes: net proceeds equal the sale price minus service charges, condition adjustments, closing costs, commissions, repairs, program fees, and carrying costs.

This example uses a home with a $500,000 after-repair value that needs about $20,000 of work to show well, the same house in our cash offer vs listing comparison. Every third-party number is an illustrative assumption; replace it with your own written terms.

The example gives Opendoor full credit at $500,000. Its Estimated Home Value may come in below what a listing would fetch, and the final offer can move after the assessment. Both Opendoor and a local buyer pay less than full retail because both take on resale risk.

The Knock column is a listing with extra costs. Knock’s fee and loan interest are the price of buying first. If you do not need to buy first, list without it.

The cash column assumes 75 percent of ARV. On a home that only needs $20,000 of work, that discount is hard to justify on net proceeds alone. If your home is turnkey and you have time, list it.

What Changes the Answer

The example flips when the situation changes.

• Repairs climb past $50,000. The listing route needs that cash up front or a steep price cut. Opendoor’s condition adjustment grows or the home stops being eligible. A cash buyer’s offer already includes the repairs. On a $520,000 ARV home needing $65,000 of work, a cash offer often lands near $300,000.
• You need to close in under 21 days. Opendoor’s window starts at 21 days. A listing cannot promise a date. A cash buyer can close in a week.
• The home has tenants, unpermitted work, or a probate or trust sale. These are common reasons an iBuyer declines and a retail buyer’s lender balks. A local buyer handles them routinely.
• You must buy first. Knock exists for this. A cash buyer can also set a closing date that lines up with your purchase, and you know the sale price before you write your offer.
• Carrying costs are eating you. The faster route may net more even at a lower gross price.

The honest read: on a clean house with time, a listing wins on net, Knock adds cost for convenience, and Opendoor is worth requesting as a benchmark. On a house with problems or a deadline, a local cash buyer is often the only route that closes.

Questions to Ask Each One

Ask Knock: What is the total program fee and interest on my numbers? How long will you cover payments on the old home? What happens if the house does not sell in that window?

Ask Opendoor: Is this the Estimated Home Value or the final offer? What is the service charge on my offer? What did the condition adjustment cover, line by line?

Ask a local cash buyer: Is this offer firm, or can it change after inspection? Can you show proof of funds? Who pays closing costs? Can we close on the date I need?

Get every answer in writing, then run the net-proceeds math on all three.

Frequently Asked Questions

Is Knock a cash buyer like Opendoor?

No. As of its published program, Knock is a bridge-style service that lends you money to buy your next home before you sell the current one. You still list the old house with an agent and sell it to a retail buyer. Opendoor and a local cash buyer purchase the house themselves.

What does Knock cost compared with selling to a cash buyer?

Knock charges a program fee and loan costs, as of its published terms, on top of the normal listing costs: agent commission, repairs, closing costs, and carrying costs. A local cash buyer such as SHH Buys Homes charges no fee and pays standard closing costs, but its offer sits below retail. Compare the net proceeds on paper, not the fee alone.

Which is faster: Knock, Opendoor, or a local cash buyer?

A local cash buyer is fastest. SHH Buys Homes can close in as little as 7 days. Opendoor states a 21 to 60 day closing window after acceptance, as of its published terms. Knock depends on how long the old home takes to sell on the open market plus escrow.

Can I use Knock if my house needs repairs?

Knock helps you finance the next purchase, but the old house still has to sell to a retail buyer, and that buyer’s lender will care about condition. A house that needs major work usually sells for less or fails to sell in the covered window. A cash buyer purchases as-is and prices the repairs into one number.

Should I get an Opendoor offer even if I plan to use a local cash buyer?

Yes, if your home is eligible. Requesting an offer does not obligate you to sell, and the final offer gives you a second written number to compare. Just compare final offers after every deduction, not the initial Estimated Home Value.

Get a Local Number to Compare

SHH Buys Homes will give you a written cash offer on your house as-is, with no commissions or fees, standard closing costs paid, and a closing in as little as 7 days or on a later date that fits your move. We buy across Los Angeles, Orange, Riverside, and San Bernardino counties from our office in Upland.

Call (626) 414-4859 or request a free cash offer. Put our number next to the other two and pick the one that nets the most on your timeline.