Why August shares resell so quickly

Published on  

July 11, 2024

Discover why a resale share in an August Collection is so highly coveted. Due to pent-up demand and ongoing waiting lists for specific Collections, we are able to secure share resales within days. In the past month, we have resold all share opportunities across our Pied à Terre, Signature and Premium Collections within this time frame. Resale also allows potential homeowners to skip the queue and access a complete Collection within weeks, rather than 12 months.

Good things take time

August homeowners can expect to wait, on average, 12 months from purchasing their share in a co-owned Collection to enjoying the completed homes in their Collection. We use this time to acquire, renovate and interior design five incredible homes in our iconic regions, and deliver a unique Collection to our owners that meets our standards.

What is a Resale?

A resale of a share occurs when a homeowner decides to sell their share in a Collection. They can sell directly to another party for whatever price they deem fair, or August can facilitate a resale to potential buyers in our database who are keen to join a complete Collection. The resale process can take weeks and is relatively turn-key.

Why Resale?

Resale allows potential homeowners to skip the queue and access a complete Collection within weeks, rather than 12 months. Buyers also benefit from being able to see the completed homes, so enjoy clarity and certainty on the locations of their properties.

We always alert our database first and encourage potential homeowners to act quickly to avoid disappointment, precisely because resale shares sell so quickly and are rarely available.

How quickly do August shares resell?

Resale shares in an August Collection are extremely coveted.We secure share resales on behalf of owners, on average, within days due to pent up demand and ongoing waiting lists for specific Collections where we curate the homeowners.

In the past month, we have resold all share opportunities across our Pied à Terre, Signature and Premium Collections within this time frame. 

While an August share is strictly a lifestyle product designed to be owned by families over a long period of time, and even passed down through generations, a share is a liquid equity asset and relatively easy to resell. Resale allows owners to leave a Collection when it no longer suits their needs or switch to another Collection which may be more appropriate. 

Resale shares typically sell at a premium because buyers are willing to pay the premium to join a complete Collection and start holidaying right away.

Resale Share Price

The sale price of shares is contractually negotiated between all parties and driven by several factors: demand and supply, including the price of the underlying property and applied renovations, the uniqueness of each Collection, the service we provide as well as the waitlist we maintain for most Collections which makes resales highly sought. It also considers the reduced risk of a completed Collection and the value of instant access to homes.

We work with homeowners to achieve a fair, effective resale price. Due to its advantages, a resale is generally priced at a premium when compared with shares in an equivalent upcoming Collection. Additionally, our share prices for Collections may rise annually to reflect the robust property market of the regions we operate in, as well as the cost of acquiring new homes each year.

Why Do Homeowners Resell?

In fact, many resales are due to homeowners seeking to explore other Collections as their lifestyles evolve; for example, moving from Signature to Premium in order to host larger groups and extended families; while relocation is another key reason homeowners may choose to sell their shares. At August, we look for long-term relationships with homeowners that will last a lifetime to ensure stability and continuity for everyone. However, whatever your circumstances, we always strive to ensure a resale with August is swift and straightforward.

Interested in unlocking a resale share and skipping the wait? Contact our expert Advisory team to be added to our waitlist and be first to know when a resale opportunity appears. Email us at info@augustcollection.co.uk with subject line: Resale.

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