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Website gives house sale cash to buyers

analyse_small.jpgA new website for people trying to sell their homes privately is offering buyers an equity boost.

HomeBoost.co.nz charges sellers a fee of between $500 and $2000 on each sale, and another 2 per cent of the purchase price, which is then given to the buyer.

Most real estate agencies charge sellers about 4 per cent in commission.

Under the HomeBoost model, the buyer of a $820,000 property could expect a rebate of just under $14,500.

HomeBoost founder Ben Hickey said he got the idea watching people struggle to get into the market.

"For most first-home buyers, the biggest challenge is raising an adequate deposit to even get a foot in the door. By removing the commission and sharing the spoils between the buyer and seller, we can increase the chance of owning a great home."

Buyers are offered a "deal sheet" to create the basis of a sale and purchase contract for a lawyer to draw up.

HomeBoost has a team of five staff. It has 93 listings nationwide and is aiming for 500 by April.
Real Estate Investar Editor
Real Estate Investar Editor
Real Estate Investar provides intelligent software, tools and data to help you save time and make money in the residential property investment market.

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