The Purple Pact for buyers
Secure your offer with a small holding deposit – and enjoy rolling all the way to completion.
Buying with the Purple Pact
Buying a home is loaded with scary stories – juggling big finances, offers falling through, being gazumped. We get it; it can be stressful. That’s why we’re always finding ways to give both the buyers and sellers certainty – and fewer sleepless nights.
With the Purple Pact, buyers and sellers can commit to a sale early, which legally locks in an offer. It’s proven to prevent last-minute withdrawals and wasted time – 95% of sales complete with our Pact.
Gazumping, be gone
If you’ve ever been gazumped before, you know how frustrating it is. If you haven’t, it’s where someone makes a higher offer on a house, and the seller accepts. Your decent, once-accepted offer falls flat.
The Purple Pact is a gazumping-free zone. That means once a buyer and seller enter into a Pact, all other offers are automatically declined, and their home is taken off the market.
Lock in your offer with a small deposit
Found a property you just have to have? We’ve all been there. With the Purple Pact, you can reserve a property with a small holding deposit. Send in your offer and opt into the Pact (it’s optional – always your choice). The seller will then see you’re serious about the sale.
Keep the sale moving with a £500 holding deposit. When the sale completes, you’ll receive £350 back in your account. Put it towards your sale or stash it away for a new TV or a giant haul of pick-n-mix. We don’t judge.
How does it work?
1.
When you make an offer through Purplebricks, you can choose to opt into the Pact.
2.
If your offer is formally accepted, your spot’s secured and the home comes off the market.
3.
Our partner, Gazeal, contacts you and the seller to arrange the Pact and secure the sale until completion.
4.
The chain keeps moving. Fewer than 5% of property sales fall through with the Pact via Gazeal.
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