Neil_P2PBlog
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Post by Neil_P2PBlog on Oct 8, 2016 15:00:06 GMT
Is the SM 2% fee payable by both the buyer and seller and is it included in the prices stated or is it additional once buy button is pressed? Based on my experience of buying and selling so far keystone, the seller pays nothing, and the 2% addition comes up in a second window after you click 'purchase X shares'
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Neil_P2PBlog
P2P Blogger
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Posts: 355
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Post by Neil_P2PBlog on Oct 8, 2016 15:02:39 GMT
I wonder why PM buyers don't have to pay 0.5% stamp duty on SM purchases less than £1,000 whereas PP do?
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djpix99
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Post by djpix99 on Oct 10, 2016 19:45:35 GMT
Does anyone know how long it takes for the funds to reach your wallet following a sale on the secondary market?
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Steerpike
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Post by Steerpike on Oct 10, 2016 20:36:01 GMT
Does anyone know how long it takes for the funds to reach your wallet following a sale on the secondary market? I sold a share earlier today just to prove that I could and the proceeds appeared shortly afterwards, this was during the working day and so there may be Manuel involvement if you are seeing a delay.
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djpix99
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Post by djpix99 on Oct 10, 2016 20:48:49 GMT
Just had an email from Property Moose, their payments team have said they are having an issue and I should hear back from them within 48hours. Pretty happy with the prompt reply, I only webchatted around an hour ago.
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Neil_P2PBlog
P2P Blogger
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Post by Neil_P2PBlog on Oct 11, 2016 20:43:56 GMT
Can people see their own sales when they list them? I have put the lowest price on a number of properties but it doesn't update on the main property page with a new lowest price... so I was wondering if perhaps you can't see your own listing for some reason?
Also, has anyone else had some strange activity where they sell only some shares (e.g. 6 of 10) and then the rest disappear? PM have assured me that my missing shares are still there in the backend and nothing to worry about while they fix it, but it's quite annoying! -> Update: All fixed and corrected
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pom
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Post by pom on Oct 11, 2016 21:16:37 GMT
Can people see their own sales when they list them? I have put the lowest price on a number of properties but it doesn't update on the main property page with a new lowest price... so I was wondering if perhaps you can't see your own listing for some reason? You can't buy your own shares, hence the cheapest available (to you) won't be yours. If you manage to be the only person with shares in a property on sale (as I was with a few properties for a while) then on the properties list it would show the "you are selling x shares" but there would be no "x shares available from £y" message, it would be as if there were none on sale at all.
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pom
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Post by pom on Oct 12, 2016 14:06:57 GMT
Ooh I just sold a couple of big shares at a good price - how exciting !  |
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Oct 12, 2016 16:41:43 GMT
Ooh I just sold a couple of big shares at a good price - how exciting ! (Impersonating a quizmaster) And what will you spend the money on?
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pom
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Post by pom on Oct 12, 2016 17:00:16 GMT
Ooh I just sold a couple of big shares at a good price - how exciting ! (Impersonating a quizmaster) And what will you spend the money on? More shares 
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Neil_P2PBlog
P2P Blogger
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Post by Neil_P2PBlog on Oct 12, 2016 22:01:28 GMT
I don't understand who is buying at some of these prices. I sold £100 of PMF B loan at cost price (didn't want to be mean) but even at that they are paying the 2% fee, which brings the yield down to just about 6%. At the same time, PMF C was sticking around for ages at 8% until recently, now the cheapest listing is with a 2.4% premium? Am I missing something obvious?
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pom
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Post by pom on Oct 13, 2016 8:10:45 GMT
I don't understand who is buying at some of these prices. I sold £100 of PMF B loan at cost price (didn't want to be mean) but even at that they are paying the 2% fee, which brings the yield down to just about 6%. At the same time, PMF C was sticking around for ages at 8% until recently, now the cheapest listing is with a 2.4% premium? Am I missing something obvious? Some people may not be doing the sums.... but we don't really know what prices things are actually selling at - there's a lot been sitting around at silly prices since the SM was launched
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pom
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Post by pom on Oct 13, 2016 10:03:13 GMT
Are there any plans from propertymoose to display the historic share price, volume, etc of completed transactions on the SM? It's certainly already been suggested to them....
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Steerpike
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Post by Steerpike on Oct 18, 2016 18:19:56 GMT
The process seems to be to buy a share for £10, a little bit later the property is revalued meaning that the share is now worth (say) £12.
The share may now be sold at an attractive "5% discount", say £11.40, meaning that the buyer is happy to pay 2% for the transfer, £11.63.
The buyer may also benefit from 1-2 months accrued rent depending on the time of the month and how long the property has been rented.
Win-win-win.
That's what I call magic.
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Neil_P2PBlog
P2P Blogger
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Post by Neil_P2PBlog on Oct 18, 2016 18:26:43 GMT
Steerpike, that may have worked well for properties bought before the SM was released. However with the latest 64 and 66 that came out after the SM was released it looks like many people had the same idea and over-bought. Now these two are selling at 9.80-9.90
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