Add houses to the growing list of things you can buy online as a part of a group. An Indian daily deals website called GrOffr offers users the chance to go in on properties, along with cars and electronics.
GrOffr is based in Mumbai and sources all of its housing deals itself. The listings look like a normal real estate ad, with the exception that you will be told how much you will save by using GrOffr. There is also a time limit on when you must buy the place.
Although this may sound strange, it is apparently a big hit as the site has already moved $25 million in real estate. I can see how this would be a hit in India, as many people can't afford to buy things such as cars and homes on their own, but they can with the help of a few other people. Whether or not this type of deal could be executed in America remains to be seen, although I think it would be a big hit with regards to rental property.
GrOffr Takes Group Buying to a Whole Other Level
Michael Hines — May 18, 2011 — Business
References: groffr & springwise