So how does it work?
Buyers have the opportunity to get into their own home without a bank to begin (and sometimes not at all!)
Typically varies for each home depending on strategy but generally an upfront deposit is paid, a contract of sale is exchanged, then regular payments are made during an agreed period. A portion of the payments go toward paying off the house, much in the same way a traditional bank loan does with principal & interest repayments.
Sellers can achieve full asking price on their house by negotiating on terms and not price.
We sell your property for full price more easily than an agent, by making your property more accessible & convenient to purchase. We do this by fixing your price, but setting up terms and an agreed payment timeframe that appeals to the market. And we look after all advertising so you have no upfront cost!
In all transactions, regardless of strategy, a Contract of Sale is used to formalise the deal between buyer & seller so both parties can rest assured they are entering into a legal agreement.