Purplebricks

Purplebricks will return home sellers’ upfront fees if it fails to find them a buyer | UK (WATCH)

PHOTO: Purplebricks

  • Sellers who put their property on Purplebricks at an ‘agreed valuation’ but do not receive a ‘proceedable offer’ within 10% of their valuation, will receive a refund
  • Revenues jumped 13% to £90.9m in the year to the end of April 
  • But it lost market share, which declined to 4.6% from 5.1% the previous year

Online estate agent Purplebricks has announced it will return house sellers’ upfront fees if it fails to find them a buyer in a bid to regain lost market share and increase it further.

Under its new ‘money back guarantee’ scheme, vendors who marketed their property on Purplebricks at an ‘agreed valuation’ but do not receive a ‘proceedable offer’ within 10 per cent of their valuation, will receive a full refund.

Purplebricks charges a fixed fee of £999 fee (inc VAT), rising to £1,499 for those based in and around London, which either needs to be paid upfront or no later than 10 months after the property is first advertised – and until now, even if unsold.

Money back guaranteed: Vendors who do not receive a 'proceedable offer' within 10 per cent of their valuation, will receive a full refund, Purplebricks said

Money back guaranteed: Vendors who do not receive a ‘proceedable offer’ within 10 per cent of their valuation, will receive a full refund, Purplebricks said

But under the new scheme, those vendors who do not get an offer where Purplebricks can confirm that the buyer is able and in a position to proceed with the purchase – for example, that their finances are all in place and all ID checks are confirmed – then they get a full fee refund.

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