When I buy the shares of a property, do I immediately own the shares of the property?
When you purchase shares in a property, they will appear immediately on your dashboard but will undergo several status changes as the property's funding process progresses.
- Processing: The shares you buy will appear on your dashboard and will stay under 'Processing' for 48 hours. During this period, you can cancel your investment and withdraw from the property. If you choose to cancel, the funds will be refunded to your WeProperties account (wallet), where you can use them for other investments. This 48-hour period is called the 'Cooling-Off Period', and the shares are not officially allocated until the period ends.
- Confirmed: After the Cooling-Off Period, the shares will change to 'Confirmed' status and will be allocated to you. Upon completion of the property's funding, these shares will officially belong to you.
- Completed: Once the property is fully funded, the shares will be marked as 'Completed.' At this point, WeProperties will begin creating the Special Purpose Vehicle (SPV) that will own the property and provide you with official ownership documentation.
Real estate crowdfunding follows a first-come-first-serve investment model, where shares remain available until all are sold and the property is fully funded. Therefore, the last available shares will be allocated to the investors who complete their Cooling-Off Periods first.
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