DebtHouse - Multi-Family / Residential
Target € 100,000
Minimum Amount € 100,000
Minimum Investment € 50
Ilvese development loan 1st phase
- The loan will be used for finishing the construction of a detached house (4 apartments) in Harju county, Rae parish.
- As loan collateral, the company is offering a detached house (4 apartments) currently under construction.
Sales contracts under the law of obligations have been established for all 4 apartments, (20% of the sales price has been paid to the borrower).
- EstateGuru security agent will have the 1st rank mortgage on behalf of the lenders.
- Loan will be returned from the sale of the apartments within 12 months.
- The member of the board of the borrower will provide a personal guarantee for the full mortgage amount.
- The loan has two phases. The first phase requires €100,000 to be collected, the second phase will be an additional €100,000 in January 2017.