|
|
Post by Financial Thing on Dec 1, 2015 15:20:02 GMT
propertymoose Will you be introducing a secondary market at any time?
|
|
ben
Posts: 2,020 
Likes: 589
|
Post by ben on Dec 1, 2015 15:48:01 GMT
At the moment I do not think it really needs one, would much rather they concentrated on buying decent properties
|
|
|
|
Post by Financial Thing on Dec 1, 2015 20:54:24 GMT
At the moment I do not think it really needs one, would much rather they concentrated on buying decent properties There comes a time where someone needs to sell out of an investment so it's a real plus when a platform has a SM.
|
|
pom
Member of DD Central
Posts: 1,922 
Likes: 1,244
|
Post by pom on Dec 2, 2015 11:23:41 GMT
But this isn't the same as having SMs for loans which (assuming the borrower pays up anyway) have a defined value. How would you value a property share when the initial purchase price is (allegedly) a discount on market value and the end sale price is (hopefully) a gain on that, but any values inbetween are a total gamble? I can't see any seller wanting to sell at par unless they're really desparate to get out meanwhile buyers are likely to either be really suspicious of any premium's applied....or if they're not there'll be massive outcry if the true end gain isn't as predicted (and how many houses sell for asking price?).
So personally whilst I think an SM might be nice to escape risk of less good than predicted gains (and I always deliberately ignore gain predictions when choosing which PM properties to go for, and base it purely on rent predictions) I can't imagine PM would dare do it.
|
|
adrianc
Member of DD Central
Posts: 10,065
Likes: 5,176
Member is Online
|
Post by adrianc on Dec 2, 2015 13:47:04 GMT
If they do, then I suspect it'll be similar to THC's.
You want out? No problem. They send an email around all their mailing list, asking if anybody wants to buy your share(s). If they do, great - £50+vat for the paperwork, please. If not, sorry...
Edit: Should have said... The sale price is always the original face value.
|
|
ben
Posts: 2,020
Likes: 589
|
Post by ben on Dec 2, 2015 15:01:32 GMT
I agree with pom, I look at rental to houses can go either up or down and if the houses go down when comes to selling time if has good rental value then there is no need to and I would hate to have to calculate how much it was worth 6 months into the lease
|
|
webwiz
Posts: 1,133
Likes: 210
|
Post by webwiz on Dec 2, 2015 21:58:54 GMT
If they do, then I suspect it'll be similar to THC's. You want out? No problem. They send an email around all their mailing list, asking if anybody wants to buy your share(s). If they do, great - £50+vat for the paperwork, please. If not, sorry... Edit: Should have said... The sale price is always the original face value. AIUI they already do something like this but they don't advertise it. If someone wants to sell they offer it to those people who have previously expressed an interest in anything that comes up.
|
|
paulgul
Member of DD Central
Posts: 401
Likes: 92
|
Post by paulgul on Dec 3, 2015 8:52:16 GMT
From PM's web site (Knowledge base):
You can cancel your investment and receive your money back in full either before the property becomes fully funded, or up to 14 days after the property is fully funded.
After this, you can sell your shares at any point during the investment term either by finding a buyer or asking us to try and find a buyer from the Crowd. This is possible because you will hold actual shares in a limited company. To ensure the Crowd is managed safely and securely, these shares can only be sold or transferred through Property Moose and at nominal value (i.e. the amount you initially invested). You will incur a 2.5% administrative charge to cover our legal costs in dealing with the transfer.
We are working to create a live secondary market that will make these transactions faster and more straightforward to administer. Watch this space!
|
|
webwiz
Posts: 1,133
Likes: 210
|
Post by webwiz on Dec 3, 2015 20:24:24 GMT
I assume that the seller keeps the rent already paid. Not sure about the portion of the month in which the sale takes place.
Those of us who use this forum can, I suppose, always offer shares for sale on here. When a deal is agreed both parties inform PM.
|
|
