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FAQ2019-08-28T06:35:07+11:00

Frequently asked questions

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How much do I receive if my home sells for more than the Home Price Guarantee?2019-09-09T14:09:55+11:00

You receive an amount equal to the highest bid (less our fee, your agent’s fee, and any other marketing, sales and conveyancing costs), payable by the third-party purchaser. Our fee is calculated based on our Home Price Guarantee amount and doesn’t change if your home sells for more.

How much do I receive if the highest offer for my home is less than the Home Price Guarantee?2019-09-09T14:10:35+11:00

You receive our Home Price Guarantee amount payable by Brickfloor, less our 2% fee. You also need to take into account any real estate agent fees, and any other marketing, sales and conveyancing costs, incurred during your sale process.

Can I sell directly to Brickfloor without going to market?2019-09-05T10:08:16+11:00

No, you can’t. One of the requirements of our Home Price Guarantee is that you appoint a real estate agent and run a normal auction or private sale process. This is so you get the best possible price for your home.

Can I potentially stay in my home and rent it after it has been sold?2019-09-05T10:14:28+11:00

If we purchase your home from you, the answer is generally ‘yes’. We typically rent out the homes we acquire, in which case we would be very happy to have you as our tenant.

If you sell your home to a third party, you will need to discuss this possibility with them.

When do I found out the results of the assessment?2019-09-06T01:08:46+11:00

We aim to let you know the results within 2 business days of our visit. We will either confirm our Home Price Guarantee or contact you to discuss changes. If we need to alter your offer, you have another 7 days to choose whether to accept.

Can I tie in my settlement date with the settlement on my next property purchase?2019-09-05T10:13:58+11:00

If we purchase your home from you, you choose the settlement date. We can settle with you on the same day you settle on your new property if that’s what you want.

If you sell your home to a third party, you will need to agree a settlement date with them.

How long does the assessment take?2019-09-05T10:04:21+11:00

We can generally complete our assessment within 90 minutes.

 

What happens to my mortgage?2019-09-05T10:13:22+11:00

You will typically need to arrange the discharge of all mortgages and other encumbrances over your home on the settlement date.

What is a Home Price Guarantee?2019-09-05T09:30:07+11:00

Our Home Price Guarantee is our offer to purchase your property at a competitive price. It is the minimum amount you will receive for your home.

You still work with your preferred agent to get the best possible price for your property. If your sale process results in an equivalent or higher offer than our Home Price Guarantee, you sell to the highest bidder and keep 100% of the upside. If it doesn’t, we buy your home for the agreed amount.

Is there any cost to request a Home Price Guarantee from Brickfloor?2019-09-06T00:23:27+11:00

No, requesting a Home Price Guarantee is free and without obligation.

Why do you want to assess my home?2019-09-05T10:02:50+11:00

We want to verify the details of your home, check for any structural or pest issues, and confirm we have given you an appropriate Home Price Guarantee.

When do I receive my sale proceeds?2019-09-09T14:11:08+11:00

If Brickfloor acquires your home, you choose when that is. You can get your money in as little as two weeks if that’s what you want.

If a third party acquires your home, you receive your money when you settle with them.

How much do you charge?2019-09-06T00:23:57+11:00

Requesting a Home Price Guarantee is free and without obligation. It’s only when you accept our offer and put your guarantee in place that you agree to pay our fee.

We charge 2% of the Home Price Guarantee amount. The fee won’t change if your home sells for more and you don’t need to pay until after you’ve sold and received the proceeds.

How do I know the Home Price Guarantee will be competitive?2019-09-06T00:27:00+11:00

We pride ourselves on providing competitive offers. So much so, we’ll share how we came up with your Guarantee amount.

We provide you with visibility of market trends and the comparable properties we used in coming up with our offer. You also have a week to consider our offer and do your own research.

Do I need to pay my agent’s commission as well as Brickfloor’s fee?2019-09-06T00:25:55+11:00

If your agent finds an equivalent or higher price than Brickfloor’s Home Price Guarantee then you will need to pay their commission as well as Brickfloor’s fee.

When appointing your agent, you can negotiate with your agent that their commission will be reduced or eliminated if Brickfloor buys your home – as you will have solicited this offer yourself.

This agent outcome is similar to the situation where your reserve price is not met – in which case your agent would not receive their commission.

When do I need to pay the fee?2019-08-28T21:46:34+11:00

Our fee is payable out of the sale proceeds for your home once you settle.

There are no upfront costs for our Home Price Guarantee and you are not committed to pay our fee until you accept our offer.

Do you take a share of the sale proceeds above the Home Price Guarantee if my home sells for more?2019-09-06T00:26:21+11:00

No. You keep 100% of all sale proceeds above the Home Price Guarantee amount.

Our fee is calculated on the Home Price Guarantee amount only and does not change if your home sells for more.

Are you part of a bank?2019-09-05T23:46:16+11:00

No – we’re an independent business. ANZi Ventures, the venture arm of ANZ Bank, is one of our major investors along with other non-banking investors.

Why is Brickfloor buying homes?2019-09-05T10:32:45+11:00

We’re building a residential property fund and are looking to buy and hold a portfolio of great Australian homes.

Why do you want to visit my home?2019-09-05T10:30:49+11:00

An on-site assessment is the simplest way for us to confirm the features and attributes of your property, as well as check for pests and structural issues.

Can I still sell with Brickfloor if my property is tenanted?2019-09-09T14:11:48+11:00

Investment properties are eligible for a Home Price Guarantee when there is less than 12 weeks to run on your tenant’s lease. If your lease has longer to run, let us know and we’ll give you an uncommitted price guide that you can use in your portfolio planning.

Is a Home Price Guarantee the same as a valuation?2019-09-09T14:12:59+11:00

Our Home Price Guarantee is a real offer, not a valuation. We take great care in using the information you provide, data on suburb trends, comparable sales in your area and our proprietary models to determine a competitive offer amount.

Can I negotiate the Home Price Guarantee?2019-09-05T09:37:17+11:00

We don’t negotiate on our Home Price Guarantees but we may sometimes refresh our offer if you think we’ve based it on incorrect information.

If you think we’ve made a mistake, please let us know. We’d be happy to learn more about your home and reassess.

How long do I have to accept the Home Price Guarantee?2019-09-06T00:28:48+11:00

Your Home Price Guarantee is open for 7 days from the date of our offer.

To ensure you have enough time to run your sale campaign within this period, you need to be ready to go to market within 4 weeks of locking in your Home Price Guarantee. If you think this timeframe is going to be a challenge, please let our team know.

How long does the Home Price Guarantee last?2019-09-05T10:31:47+11:00

Our Home Price Guarantee is firm for 12 weeks from the date of your acceptance.

Are there any conditions attached to the Home Price Guarantee?2019-09-05T10:31:18+11:00

Yes, there are. They are clearly outlined in the Customer Agreement we send you with our Home Price Guarantee. These include conditions related to communication with your agent, your marketing campaign and timeframes. Our team can talk you through these in the first instance. 

If you have any questions about the terms of our offer once you receive it, we offer an 15-minute consultation with an independent solicitor free of charge.

Is the Home Price Guarantee binding on me and Brickfloor?2019-09-05T10:31:07+11:00

Yes, it is. If you accept our offer, you have the right to sell your home to us and we have an obligation to purchase your home from you for the amount specified in the Home Price Guarantee. You can choose not to sell your home to us, but generally, our fee would still apply.

The sale is subject to certain conditions (see Are there any conditions attached to the Home Price Guarantee?).

If you have any questions about the terms of our offer once you receive it, we offer an 15-minute consultation with an independent solicitor free of charge.

Can I use Brickfloor if I’ve already listed my home?2019-09-05T09:55:03+11:00

Yes, you can.

We will need to understand where you are at in sale process as it may have a bearing on your Home Price Guarantee.

What if I change my mind about selling my home?2019-09-09T14:24:14+11:00

If you change your mind and your home has been marketed for 2 weeks or more, you will generally be required to pay our fee, as we will have incurred costs. That said, we may waive our fee at our discretion in exceptional circumstances.

If you change your mind, your home has not been marketed for 2 weeks or more and your home is not sold, no Brickfloor fee is payable.

Why is Brickfloor buying homes? What kind of homes does Brickfloor buy?2019-09-09T14:25:53+11:00

We’re building a residential property fund and are looking to buy and hold a portfolio of great Australian homes.

At the moment we are buying houses, townhouses, units and apartments (excluding multi-level developments with more than 8 apartments) within 50km of Melbourne and Sydney CBD’s.

Why do I need an agent? Couldn’t Brickfloor just buy my home directly?2019-09-09T14:26:44+11:00

Our purpose is to help home sellers get the best possible price for their properties – while taking all the stress out of the process. Having a real estate agent run an auction or private sale campaign is the best way to maximise your sale outcome.

We’ll buy your home for a competitive price if your agent can’t find an equivalent or higher offer in the market.

When should I contact Brickfloor?2019-09-09T14:27:40+11:00

If you’re just looking for your next home, we’ll give you a price guide that’ll give you extra confidence in your search. When you’re ready to sell, we’ll lock in your Home Price Guarantee offer.

Who is behind Brickfloor?2019-09-05T00:52:37+11:00

We are a passionate team of industry professionals excited about creating a fair, transparent and simple product for home owners in Australia that takes the stress out of selling their home.

Brickfloor’s investors include ANZi Ventures, the venture arm of ANZ Bank, and Harris Capital. Our advisory board is comprised of Matthew Quinn (former CEO of Stockland), Saul Eslake (former Chief Economist of ANZ Bank) and Geoff Harris (co-Founder of Flight Centre).

Even though we have some large strategic investors, we’re a small business at heart. Making home sellers’ lives easier and delivering great customer experiences is what drives us.

Which cities does Brickfloor operate it?2019-09-05T23:51:49+11:00

We currently provide our Home Price Guarantee for homes in Sydney and Melbourne.

We are currently servicing homes in the range of $350,000 – $2,500,000 and are not servicing apartments in multi-level developments with more than 8 apartments. We will consider substantial apartments in boutique/period built developments.

Brickfloor reserves the right to review each property individually on a case-by-case basis to determine suitability.

 

Can anyone get a Home Price Guarantee?2019-09-05T10:26:47+11:00

Unfortunately, we can’t offer a Home Price Guarantee to everyone.

We are currently looking to buy certain types of homes in specific areas and price ranges only ($350,000 – $2,500,000) and are not servicing apartments in multi-level developments with more than 8 apartments. We will consider substantial apartments in boutique/period built developments within our noted price range.

Brickfloor reserves the right to review each property individually on a case-by-case basis to determine suitability.

“Brickfloor’s professionalism was superb. Their offer was very fair and I was more than happy to accept it. The peace of mind preceding an auction knowing that I’d been guaranteed a certain price was a revelation.”

Julian, Home seller from Murrumbeena

“Brickfloor was a game changer. They removed the sale stress and we were able to safely plan our next purchase. Brickfloor provided sale certainty and their model allowed us to find upside. Brickfloor empowers sellers like us.”

Michael, Home seller from Glen Iris

“Brickfloor’s Home Price Guarantee is a great way for home sellers to get their first offer on the table and having that offer in hand gives me extra leverage when I negotiate with potential buyers. It’s a fantastic product for home sellers.”

Ben Dax, Sales Director at Woodards

“Brickfloor have been terrific to work with. Their Home Price Guarantee took all the stress out of our sale process. No matter what happens, I know that I will have a good outcome that will help us into our next home.”

Bernard, Home seller from Melbourne