A real estate investment platform set to launch March 30 says it will stop the frustration caused to sellers when a buyer pulls out of a deal at the last minute due to lack of funds.
Vamoove touts itself as a brand new way to buy and sell real estate that stops sellers losing money and other potential buyers by ensuring buyers pre-qualify by showing proof of funds before they have access to any deals available on the site for the first time ever .
Serious buyers will separated from "time wasters" having been registered on the site after supplying a lawyer's letter or loan guarantee.
The site says it won't collect financial data as payments are taken securely and proof of buyers’ funds are confined to the details contained in a signed solicitor letter.
Vamoove is the brainchild of Lukas Sheen, a real estate investor and internet entrepreneur who set up Vamoove.com after being fed up with deals falling through at the last minute.
Sheen has turned one of the most common pitfalls of real estate investment into a brand new business.
"I set up the site to create a place for serious buyers to meet serious sellers," Sheen says.
"We've got real estate available from all over the world. The site is easy to use and the fees are low, the aim is to get deals moving, it's fast, simple to use and I feel it's the way property should be sold."
Vamoove is open to buyers and sellers all over the world. By joining Vamoove, Platinum buyers will find a selection of prime properties, distressed, BMV (below market value) properties, off-market sales, quick sales and pre-auction deals.
"The reaction to the site has been amazing and deals have been done pre-launch," Sheen says.
"Because buyers have to show proof of funds available before they can browse some of the incredible deals we have available, private sellers and agents are keen to register their properties with us.
"Serious buyers love us because once they have proof of funds they can have access to at some of the hard to find, incredible off-market, pre-auction, distressed and BMV deals we've got available."
Sheen says buyers can be in it for the short, medium or long term, making a one-off purchase, looking for a quick deal or building up your real estate portfolio.
"Whatever your investment goal, we know that when people sign up to the site that they are serious about selling and buying and our members know we're serious about finding them best properties available," he says.
The site will charge agents £1 per listing for a minimum of 50. Private sellers will pay £50 to list one property from up to a year.
Property hunters can search for free unless they want to look at off-the-market deals, in which case they register as a ‘premium’ buyer at a cost of £50 per month.