New listing opportunities are properties which we are looking to acquire in the near future, with exchange of contracts expected in the coming weeks. The funds to purchase these properties are live funded on our platform within a specified time period.
When you commit funds to a new listing, your Property Partner account balance will decrease but no money will actually leave the client money account until the live funding target is reached.
You can see the percentage that a new listing property is funded on the property detail page, as well as the days remaining for the funding target to be met.
In the unlikely event that a new listing does not reach its funding target within the specified time, or the purchase falls through for some reason (e.g. the vendor withdraws it from the market or the property does not meet our stringent due diligence criteria), all committed funds will be returned to the respective customers’ accounts. This applies to 100% of committed funds – Property Partner will obviously not charge or receive any fees and any costs that have been incurred (for example, surveyors and solicitors) will be borne solely by Property Partner.