Opendoor Acquires Title Company

September 10, 2019

Opendoor announced it has acquired OS National LLC (OSN), a national title and escrow company that has been one of Opendoor’s partners since 2016.

The acquisition allows Opendoor to integrate title, escrow and closings into its online buying and selling experience, enabling the company to build a streamlined closing experience. Additionally, OSN’s national footprint will help Opendoor reach more customers faster as it expands, the company said in a release. OSN will join Opendoor as a wholly owned subsidiary.

“Moving into a new home should be one of the most delightful and memorable moments in life, yet the closing process gets in the way,” said Eric Wu, co-founder and CEO of Opendoor. “Consumers are confused about the status of the close and timeline, overwhelmed by hundreds of documents to understand and sign, and frustrated by the delays due to multiple parties coordinating. Our goal with this acquisition is to make title and escrow feel less like a barrier in the home purchase process and more of a welcome mat at the front door of your dream home. I couldn’t be more excited to have OSN join us on our mission to empower everyone with the freedom to move.”

OSN is headquartered in Duluth, Ga., just north of Opendoor’s engineering hub in Atlanta. Opendoor will be joined by OSN’s 500 team members in offices across the country.

“We are very excited to join the Opendoor family,” said OS National CEO Charles Chacko. “We share many core values like placing the customer first, appreciation for their employees, and like us they want to be the very best at what they do. The real estate industry is being transformed before our eyes and we have a unique opportunity to be in the front seat of the change and be able to drive that change forward. We are confident that both our organizations will be stronger together.”

Opendoor recently announced the launch of its home loan business in Texas and Arizona. Homebuyers in those states can now secure a home loan directly from Opendoor Home Loans and in the Opendoor app. In addition, Opendoor recently surpassed 50,000 home transactions and announced plans to launch into three new markets—Boise, Salt Lake City and St. Louis—by early 2020.

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