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kyle_williams
Posts: 4 Newbie
hello,
I own a percentage of a property project, i.e. i own 13.5% of 10 apartments. problem is the apartments are not likely to sell individually immediately or at once. is there any possible way to sell my share of the title?
I own a percentage of a property project, i.e. i own 13.5% of 10 apartments. problem is the apartments are not likely to sell individually immediately or at once. is there any possible way to sell my share of the title?
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Offer to sell your share to the other owners, either one of them may want a bigger single share or possibly all of them would like to slightly increase their share0
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Do you own 13.5% of the freehold (or headlease) of a block of ten apartments?
Or 13.5% of the lease of each of 10 apartments within the block?
Who owns the other 86.5% of whatever? Are they in a position to buy you out?0 -
kyle_williams wrote: »is there any possible way to sell my share of the title?
If you can find somebody who is willing to buy it, and your current co-owner(s) cooperate with the sale - then you can sell your share.
As others say, perhaps your best bet is to see if one of your co-owners is interested in buying.
.kyle_williams wrote: »problem is the apartments are not likely to sell individually immediately or at once.
It's difficult to judge your sentiment here.
Are you saying that the development project is in trouble? Perhaps behind schedule, over budget, feuds between co-owners?
If so, it may be very difficult to find anyone who wants to buy into 'a mess'.0 -
hello eddy,
the development is completed and not in trouble i would just like to cash in without waiting for each property to sell individually. wandering if there are investors who could purchase my share and wait it out for their profit. is that clearer?0 -
the other owners are in a position but they are family that I would not like to go into.0
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So you own a share of the development finance?
It's not impossible that you can find somebody to take that on, but it's not something likely to be straightforward. How did you get in on this project finance? Private agreement with the developer?
<edit> Ah, that last bit crossed with your post 6. Family project...? That makes it even more complicated, if you don't wish to involve them.0 -
kyle_williams wrote: »hello eddy,
the development is completed and not in trouble i would just like to cash in without waiting for each property to sell individually. wandering if there are investors who could purchase my share and wait it out for their profit. is that clearer?
Assuming there's no mortgages/charges etc on the title....
I guess it's possible that you might find somebody who's prepared to do this, if you search around. I've occasionally come across people who 'take a punt' on this kind of thing - when they come across somebody with dire financial problems.
But this is 'Dragon's Den' type stuff. If your share is likely to be worth £100k, they might offer you £30k to £50k for it.
(And you'd need your family's cooperation, and I'm guessing they wouldn't want that kind of person as a joint owner.)0 -
kyle_williams wrote: »hello eddy,
the development is completed and not in trouble i would just like to cash in without waiting for each property to sell individually. wandering if there are investors who could purchase my share and wait it out for their profit. is that clearer?
It will depend how much you are prepared to discount the potential return and the reasons why those 10 apartments can't/won't sell now.
Think 50%-75% return on your share at guess of full value at some time in the future.
If there is debt(mortgages) involved then that will complicate much further
Biggest problem will be finding a buyer outside the current owner pool or those with some involvement that have some understanding of the potential and owner dynamic.0 -
yes i own a share of the title and would like to move on away from the family, however I would not like to sell it to them but instead sell to an investor if you are aware of any sites or companies?0
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What a bizarre setup. Surely they should have formed a company, and you should have owned 13.5% of the company, rather than owning 13.5% of each individual property!0
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