Interview with Patrice G. former owner of the building located in Avenches
This building was sold in 5 days on the Foxstone real estate crowdfunding platform.
First of all, can you tell us a little bit more about yourself?
Hello, my name is Patrice, I am 59 years old, I am a company manager and I have been the trustee of a Vaud municipality for several years.
Can you give us more information about this building?
When my wife and I bought it, it hadn’t been lived in for more than 20 years, but there was a lot of work to be done. We were competing with developers who wanted to build a new real estate development. Although we had a performance approach we wanted to renovate it, modernize it and keep the authentic spirit that makes this building so beautiful today.
It was this argument that tipped the balance in the choice of the former owner who favoured our approach. We thus rethought the whole interior by making 4 charming apartments with period parquet floors and beautiful volumes that we easily rented.
The building is located in Avenches, close to the train station and amenities. It benefits from a panorama on the castle of Avenches. (See the building).
Was it the first time you used a crowdfunding platform to sell a property?
Yes absolutely, I had never heard of crowdfunding real estate before, it is still quite new in French-speaking Switzerland although this type of investment is becoming more popular thanks to actors like Foxstone. I was rather used to working with real estate managers or brokers.
How did you get to know Foxstone?
I had put our property up for sale through a broker who put us in touch with Foxstone.
What made the difference?
I was pleasantly surprised by the analysis that was made of the property, the speed and transparency throughout the procedure. All the documents were forwarded to us and I was immediately put at ease by the approach and expertise, both real estate and financial, of the Foxstone team.
How did the sale go?
If I had to qualify it I would say fast and efficient because the property was financed in five days on the platform. Everything was taken care of by Foxstone until the signature at the notary’s office. I was able to follow the entire sale in real time directly on the platform. You can see the gauge progressing as the investments were made; it’s very transparent and very motivating.
The technology allowed me to bring together 12 investors that I didn’t even need to meet, my only contact throughout the sale was the Foxstone team.
What are the key points for a successful sale?
The human factor and a professional approach are elements that are essential for me in this type of transaction. When in addition, the property is sold quickly you can only see the strength of the sales model.
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