What to Expect When Selling Your Share in a Kō Holiday Home
May 19, 2023 • Co-Ownership 411
So, you’re considering a share in a Kō co-owned holiday home or have recently bought one but you’re not sure what happens with resale. We’ve got you covered! Here are the steps involved in the resale process so you know what to expect if you do decide to sell your share.
1. Your Kō share is your equity
First things first, let’s remember that your share in a co-owned Kō Home is your equity. You maintain control and choose when to sell and can list at whatever price you choose. Any capital appreciation in the value of the property and your share can be included in the resale price.
2. Shares don’t have to be equal in value
For new Kō listings, units are divided equally between the first round of co-owners. From that point on, units can change in value whenever co-owners decide to sell their share (unit) and at the price they wish to list.
3. The Kō team is there to help
The team at Kō are committed to supporting you through the entire lifecycle of co-ownership, including the buying, managing, maintaining and selling process. Our property specialists can guide you on an appropriate price to list for your share of the Kō Home. There’s no requirement to sell with Kō, and you can sell your share through your own real estate agent if you choose.
4. An offer is first made to other co-owners of your property
After the seller sets their list price, existing owners get the first right of refusal. It makes sense that the people most likely to buy your share might just be another co-owner already familiar with the property and interested in increasing their equity. It’s worth keeping in mind that the maximum amount that any co-owner can own is four (50%) units in a single property.
5. We then list your share on the Kō platform
Assuming none of the other co-owners accept the initial offer to buy your share, and you wish to sell through the Kō platform, then our team moves ahead with publicly listing the property through our site and promoting it to our network.
6. Agent support and networks extend the reach of your listing
As part of our service, Kō will also use real estate agency partners to help market your share through agent networks and listings on other property sites such as Domain or REA for example. We can provide access to our recommended agency partners or you can choose your own. Your share is listed on the market similar to any other property.
7. SOLD! Now leave the legal documents and details to Kō
There’s no need to worry after finding an interested buyer. We’ll support you and the new co-owner with legal documentation and general advice through the sales process, just as we did when you purchased your original unit.
This information was collated to give co-owners more details about what to expect if they decide to sell their share. If you have any additional questions about the process, please contact the team.
Any information or advice contained in this blog is general in nature and has been prepared without taking into account your objectives, financial situation or needs. Before acting on any information or advice in this blog, you should consider the appropriateness of it (and any relevant product) having regard to your circumstances and, if a current offer document is available, read the offer document before acquiring products named on this website. You should also seek independent financial advice prior to acquiring a financial product.
All financial products involve risks. Past performance of any product described on this site is not a reliable indication of future performance.
Ko Homes Pty Ltd is the Investment Manager of the Ko Homes Trust. It holds a Corporate Authorised Representative authorisation CAR No.1298188 from Quay Wholesale Fund Services Pty Ltd (Quay) (AFSL No. 528 526). Ko Homes Pty Ltd also holds a Corporate Authorised Representative authorisation from Quay allowing it to provide General Product Advice.
You Might Also Be Interested In
November 16, 2022
Fractional Ownership Of A Holiday Home In Australia: FAQs
May 31, 2023
Unleashing the Benefits of Co-ownership! All the Fun for a Fraction of the Total Cost
May 3, 2023
Is Your Home a Kō Home? Why Others Choose To Fractionalise Their Luxury Holiday Home
April 20, 2023
AirBnb Not Cutting It In The Luxury Stakes? Look No Further To Discover Some Luxury AirBnb Alternatives
DON'T MISS OUT ON THE LATEST LISTINGS