Opendoor, a San Francisco based real-estate technology company operating in Las Vegas, acquired its title and escrow partner, OS National.
Duluth, Georgia-based OS National, which has partnered with Opendoor since 2016, provides residential and commercial title and settlement services to lenders, banks, real estate investment trusts, private equity firms, mortgage servicers and institutional investors.
In the deal, OSN will become an Opendoor subsidiary and OSN’s services will be integrated into Opendoor’s real estate technology platform.
Opendoor uses technology to provide offers on homes within 24 hours. It also allows potential buyers to visit any Opendoor home by simply downloading their app which works like a key to allow access into any of their homes on the market.
Opendoor has a growing Las Vegas presence led by General Manager Alice Ferguson.
The company said that by bringing these services in-house, the company can provide a more seamless online experience that will save customers time and money.
“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,” Opendoor CEO and co-founder Eric Wu said in a statement.
OSN’s 500-person national workforce will join Opendoor’s staff.
Opendoor, which operates in 20 U.S. markets and has more than 1,300 employees, recently launched a home loan business – Opendoor Home Loans – that currently serves homebuyers Texas and Arizona. Buyers in those states can request financing through the Opendoor mobile app.
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.
Visit www.opendoor.com for more information on the company.