A fixed price, in writing
I agree a price for your house now, at a premium to today's value.
Sydney, NSW
I buy houses for redevelopment, on your timetable.
I'm Mike Armstrong. I buy houses across Sydney for future redevelopment under the NSW State housing program. I am the buyer, not an agent. No commission, no listing, and nothing for you to pay.
6 houses
optioned at Bluegum Crescent and Toronto Avenue
Every owner
paid the full agreed price at settlement
No commission
and no costs for owners
My approach
Been approached by a developer?
Most offers ask you to sign up now and wait to find out the price. Mine is the other way round: a fixed price in writing today, I pay you while the planning is done, I pay the planning costs, and if the approval does not come you keep the house and everything I have paid.
| Terms | The usual approach | My approach |
|---|---|---|
| Price | Unknown until a developer bids | Fixed now, in writing. |
| Planning costs | Often shared by owners | All paid by me. |
| While you wait | Nothing | Paid to wait, once every owner in the group has signed. |
| If it falls through | Time lost | You keep the house and the money. |
| Fees | Commission or adviser's fee | None. |
The process
How it works
I pay you to wait.
Once the owners of every house in the group have signed, I pay you for the first six months, and more if I extend. Everything I pay is yours to keep whatever happens, and comes off the price if I buy.
I do the planning work, at my cost
I lodge and pay for the planning application; all I ask is your consent.
Approved, the sale completes at the agreed price. Not approved, you keep the house and the money.
You keep living in the house, or renting it out, until settlement.
Your costs
What it costs you
Nothing.
- No agent's commissionOn a $3 million house the usual 2% is $60,000.
- No marketing or advertising costs.
- No deposit at risk.
- I reimburse your solicitor's costs of reviewing the option agreement, once the owners of every house in the group have signed.
A personal approach
About me
Republic Projects is my business. I buy houses where the planning rules allow more homes, pay the owners while I get the approval, and buy when it comes through. You deal with me directly, and I am happy to meet you and your family at your house to go through it.
Optioned and sold
Track record
Frenchs Forest
6, 8, 30 and 32 Bluegum Crescent
Four neighbouring houses put under option together. I sold the site on, and the owners were paid the full agreed price at settlement.
Cromer
68–70 Toronto Avenue
Two houses under the same kind of option, sold on the same way. The owners were paid the full agreed price at settlement.
I can put you in touch with these owners for references on request.
Your questions
Frequently asked questions
Get in touch