South: Nested scheme guarantees a house sale

According to a recent report from Which?, three in 10 property sales now fall through because of a failure somewhere in the “chain”. British “proptech” (property-technology) startup, Nested, has launched a new service that promises to sell a house within 90 days without having to compromise on the sale price, or lend the seller the money for their next house purchase interest-free.

Set up earlier this year by Matt Robinson, the founder of GoCardless, Phil Cowans, former Songkick CTO, and James Turford, the ex-McKinsey consultant and trained architect, Nested has already raised £3 million from leading investors, including Passion Capital, Paul Forster, the founder of Indeed and the self-made billionaire brothers, Oliver and Alex Samwer

Robinson, CEO of the new company, explained: “Too often, the whole property chain and selling process is broken, with sellers complaining about slow lawyers, endless phones calls, untrustworthy estate agents, and of course, being let down by the buyer at the last minute. Nested makes sellers chain-free from day one, removing months of uncertainty and putting them in the strongest position to make their next purchase.”

Nested uses smart-valuation technology and process management to provide sellers with a property valuation within minutes and guarantees a minimum price from day one. Thanks to its valuation algorithm and unique processes, the company is able to guarantee the customer fair market value, unlike traditional home buying companies

As yet the scheme is available only to property owners in London with houses worth less than £1,000,000.