Checkpoints while Group Buying Real Estate

Group buying in real estate is attracting lots of customers because they get extra discounts on purchase of property such as homes and commercial spaces. In the group buying business model, as the potential home buyers come together as a group, they have a good bargaining power due to which they are able to negotiate good discount on the property. Group buying comes as a relief to builders also because it lets them save on marketing and customer acquisition costs. Also, with group buying the down payment which builders get is huge due to which they can focus more on their upcoming construction projects. Moreover, with group buying option, builders sell a guaranteed number of flats during pre-launch thereby reducing their potential risk.

Though group buying is attractive, but there are certain check points which all potential home buyers must keep in mind before they actually go for group buying of homes.

  1. Most of the times the group buying websites charge a brokerage fee for each home from the builders. But, there are chances that they might even charge the potential buyers the service charges. Make sure that you first do a nice comparison between all real estate group buying websites and their service charges.  You must add these charges to the total cost of buying your home.
  2. The down payment which the potential home buyers are required to make with group buying is generally much higher than the down payment which they have to make while individually buying the house. So, be well aware of such a situation in advance.
  3. Going through the deal documents under group buying schemes is most important. Generally in group buying schemes, all the buyers leave this to the other group buyer and assume that he/she must have already read it. Such an assumption can land you in trouble in future. So, beware with real-estate deals irrespective of whether you are an individual buyer or a group buyer.

Grouphomebuy.in is an upcoming platform which brings together all the builders and potential home buyers in India together. The portal lists all the premier real estate properties. You can register with the site, select your properties of interest and be assured of getting the best discounts on your dream home if the deal with the builder gets materialized. With its quality service and negligible service charges, grouphomebuy.in is gradually taking up as the most preferred group buying site for real estate in India.

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