Update from the originator:
The originator had the documents planned to be signed in the first week of September but the developer had to correct some registration issues and the signature of the documents was delayed. Both parties should sign the documents next week or in the first week of October.
Financing for the purchase, reform and sale of flats in Madrid and its metropolitan area within a maximum period of six months. The average purchase amounts are around 200,000 euros. Financing represents between 50% and 60% of the lesser of the appraised value or purchase price. These are one to four bedroom homes and surfaces from 60 square meters. TIKO will be the company in charge of buying and selling the apartments. It is the first real estate in Spain that allows owners to sell their apartment in a matter of days.
The Promoter will reuse the loan amount as he / she is selling and buying new homes on which he / she will provide the corresponding guarantees.
• Pledge of the social participations: the pledge of the social participations is made on behalf of the investors who are going to invest in the project.
• Deposit of the company that owns the promoting company.
• Mortgage promise and irrevocable powers of attorney to constitute a mortgage: the promoter grants investors represented by CIVISLEND a mortgage promise as well as specific powers to constitute a mortgage on each of the farms. A mortgage may be constituted in the event that six months from the purchase in public deed of a property without it being sold.
Risks
Click here to see the specific risks of this project
From the moment an investor formalizes his participation in a project, he is accepting the risk and profitability of this investment. Loans present the risk of not obtaining the expected return, lack of liquidity, possibility of dilution or even loss of the principal of the loan.
At Civislend we work to minimize the risks of investors registered on our platform, exhaustively analyzing and filtering projects so that we only publish projects that meet stringent quality and solvency criteria that maximize compliance with investor commitments.
Civislend functions as a meeting point between developers and investors, but is not responsible for the success or failure of a project, or for the profitability obtained by the investor.
Before publishing the proposals of the promoters, our team of professionals evaluates in a rigorous and exhaustive way each one of the projects presented to minimize the risks of the investors. For added security, additional project review is also performed by external and independent Civislend professionals.
Date | Status | Late | Assignment date |
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![]() | Paid | No | 09 February 2021, 00:00 |
![]() | No | - | |
![]() | No | - |
Amount €
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