Beforeyoubid is an Australian fintech business specialising in the “online sharing economy”. It aims to collectively connect consumers interested in a particular property, and give them the tools to share the costs of necessary property reports. It claims that the more people that are interested in purchasing a report, the lower the cost will be for each party.
The CEO of buyMyPlace, Paul Heath, said consumers will be the first to reap the rewards of the business partnership.
“We are pleased to be partnering with Beforeyoubid to offer this service to our customers, who are cost conscious and forward thinking when it comes to innovation. With today’s competitive housing market, it makes sense to share the cost of expensive building and pest and strata reports, especially as many purchasers find themselves purchasing reports on a property they may not end up purchasing,” says buyMyPlace CEO Paul Heath.
“It is standard practise for purchasers to purchase reports before making any offers on a property, and we also envisage our motivated vendors to make use of the service in order to attract more purchasers to their property,” he said.
Heath also commented that customers will now be able to purchase independent reports upfront, and the platform will then offer the reports to subsequent purchasers at a discount, providing a rebate back to the original purchaser.